Limited Company - Invoice from someone elses?

[nishant38]

Hi All,

Is it possible to use a limited company under someone elses name short term?

The company is unused at the moment and has no other invoicing etc through it.

I would only need to use it for 3 months approximately.

Thanks

[Support Monkey]

Hi All,

Is it possible to use a limited company under someone elses name short term?

The company is unused at the moment and has no other invoicing etc through it.

I would only need to use it for 3 months approximately.

Thanks

All invoices and any money coming in would be in the company name, how are you then going to get the money, as they would have to pay themselves first then you unless your a shareholder, you cannot just pay an amount in then the same amount out, and they would also be responsible for all accounting

[Clare@InTouch]

As SupportMonkey says, the only way you'd be able to get the money out of the company would be dividends (if you're a shareholder) or wages. Paying wages would still give you a better take home than a brolly as you'd have no weekly fees, assuming you're not being charged for using the company or for calculating the wages you'd need.

[northernladuk]

Hi All,

Is it possible to use a limited company under someone elses name short term?

The company is unused at the moment and has no other invoicing etc through it.

I would only need to use it for 3 months approximately.

Thanks

You haven't thought this through very well have you.

[nishant38]

Nope

Well kinda, lets play the hypothetical game.

Lets assume the company belongs to a brother/mother whatever, no charges to use company, all wages/dividends passed over.

That I can see working, but can only see it working efficiently IF the company director has a zero salary themselves, otherwise the tax implications (lets say they earn 40k already) would make it pointless and I might as well use a brolly.

[northernladuk]

Nope

Well kinda, lets play the hypothetical game.

Lets assume the company belongs to a brother/mother whatever, no charges to use company, all wages/dividends passed over.

And who would get taxed? What would you put on your SA? A director's company making X and then putting an SA in for nothing. HMRC will be on that like a rash. The director is ultimately responsible so if you mess up they get the stick. Do you want to put your family/friends in that situation?

Is your family happy to have HMRC going through their affairs in great detail just for a few months billing?

Do it properly.

That I can see working, but can only see it working efficiently IF the company director has a zero salary themselves, otherwise the tax implications (lets say they earn 40k already) would make it pointless and I might as well use a brolly.

Just get a brolly/start a LTD up and do it properly rather than trying to get dodgy work arounds using friends/family which will ultimately come crashing round your ears.

You are a business, act like one. Contracting is heavily in the spot like it is without people trying to take piss out of the system as well.

[nishant38]

I can see why you won Personality Of The Year NorthernLad!

But I agree, it seems like a potential mess I am creating to save maybe 10-15% (brolly vs limited) over a few months.

Appreciate the candid replies, stops me trying to convince myself this is the right way when it obviously is not.

[northernladuk]

I can see why you won Personality Of The Year NorthernLad!

But I agree, it seems like a potential mess I am creating to save maybe 10-15% (brolly vs limited) over a few months.

Appreciate the candid replies, stops me trying to convince myself this is the right way when it obviously is not.

Yes, sorry about that. This type of fudging gets my back up something shocking. There are ways and means to do what you are asking but going straight in for the fraudulent or slap dash approach is certainly not the way. Looking at becoming a shareholder and earning a wage as an employee and so on can work. An accountant would be the best person to speak to.

My personal opinion of keeping family and business separate also guides me but other people do it quite successfully I guess.

[BolshieBastard]

Hi All,

Is it possible to use a limited company under someone elses name short term?

The company is unused at the moment and has no other invoicing etc through it.

I would only need to use it for 3 months approximately.

Thanks

LOL!

No, sorry, I meant 'oh dear!'

[mudskipper]

I think this could work.

Contract is with ltd co.
You are the supplied resource.
You as yourself invoice the ltd co for your services.
Ltd co pay your invoice.

You then declare the income on your tax return and pay whatever's due.

Or you could just go brolly!

Edit: Obviously the Ltd co would have to file the appropriate accounts etc, so if company is currently dormant, it's probably not worth it.