Good morning all,
Here's my situation:
Used to be employed doing IT support for about 8 years. Decided to change jobs at the start of the year and was employed as a web developer for almost 6 months. Received an interesting offer from a Norwegian company, but due to technical issues and the speed that they wanted to get me in, suggested I start working for them on contract, set up my own limited company etc. The work will be non exclusive and I can look for other contracts while working for them, though they generally expect priority coverage between 8am and 2pm.
Currently, I have only one bank account; my own personal bank account. I have not yet set up any business account, and have not set up my limited company yet.
I am now at the point where I need to start spending some money to get the job done (I need a bit of a beastly computer for QA and testing, big compile jobs, virtual machines, etc.) but I don't want to take the hit on paying taxes when I don't really need to - it should be a company expense.
Can anybody give me some advice on the next steps? Something like: set up limited company, set up bank account, spend money. Or are there some workarounds? Can I buy now and reclaim as expenses on my company later? Please excuse my naivety and ignorance when it comes to running my own business, I've been thrown in to it, but hope I don't look back
Best regards,
Aaron
Here's my situation:
Used to be employed doing IT support for about 8 years. Decided to change jobs at the start of the year and was employed as a web developer for almost 6 months. Received an interesting offer from a Norwegian company, but due to technical issues and the speed that they wanted to get me in, suggested I start working for them on contract, set up my own limited company etc. The work will be non exclusive and I can look for other contracts while working for them, though they generally expect priority coverage between 8am and 2pm.
Currently, I have only one bank account; my own personal bank account. I have not yet set up any business account, and have not set up my limited company yet.
I am now at the point where I need to start spending some money to get the job done (I need a bit of a beastly computer for QA and testing, big compile jobs, virtual machines, etc.) but I don't want to take the hit on paying taxes when I don't really need to - it should be a company expense.
Can anybody give me some advice on the next steps? Something like: set up limited company, set up bank account, spend money. Or are there some workarounds? Can I buy now and reclaim as expenses on my company later? Please excuse my naivety and ignorance when it comes to running my own business, I've been thrown in to it, but hope I don't look back
Best regards,
Aaron
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