Welcome to the first episode of Ask an Accountant. This is your chance to get direct answers to your accountancy, business & tax questions from business and tax expert Nick Roberts who founded the Accountancy + Business Advice Centre
This week’s question asks about if becoming a limited company was a good idea…
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Would be great to get your feedback. Please comment below.
Are you a business owner trading via a limited company? Did you know that you can legitimately claim for private goods and services paid for by your company?
Yes you can, and it doesn’t matter what you claim – flights, a hotel bill, a present for your kids (or yourself), a new outfit – they’ll all be OK. One small catch, the amount you spend cannot exceed $300 per quarter per owner.
OK, it’s not a huge amount, but it all helps in these tough times right? And why pay them a cent more than you need to, I say?
If you need help to slash your taxes contact Nick on 0800 ASK NICK or email firstname.lastname@example.org.
Choosing the best business structure for your startup is vitally important. But many business owners stumble upon their business structure by accident without any planning at all.
I know a case where a successful business owner trading as a sole trader who—out of the blue—was slapped with an uninsured legal claim of $390,000. Bye bye business; bye bye house; and hasta la vista wife!
When choosing a business structure, it’s normally a compromise between conflicting objectives. Here are a few pointers to help you choose.
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