And you can't claim AIA if you purchase the assets from the Director as you state.
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There are 2 distinct calculations:
1. Your Financial Statements, which reflect your Trading results. This what your accountant will prepare and you, as the Director(s) will sign off. A copy is filed with Companies House.
2. Corporation tax computation - this shows how the Corporation tax is calculated, and reconciles the Trading results to the Corporations Taxable Income (this does not form part of the Financial Statements, and is generally prepared as a separate Schedule and included in the Corporation's Tax Return (CT 600)).
I would suggest that you engage a suitable Accountant to deal with this matter, who can complete both (1.) and (2.) above. If you get this wrong, which is where you are headed, then you are in for a World of Pain...I was an IPSE Consultative Council Member, until the BoD abolished it. I am not an IPSE Member, since they have no longer have any relevance to me, as an IT Contractor. Read my lips...I recommend QDOS for ALL your Insurance requirements (Contact me for a referral code).Comment
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