Monkey Trading - Bath

[Andyw]

DCJ ????

 

[MarillionFan]

[SPELLING W@NKERS OFF]

I was wondering about that Paddy. I was thinking of lending the money(personally) to my LTD company, therefore making it a directors loan(ATW/Andyw need not enter this conversation as it is above them)

That way I can still contract as well as sell Thai tat through the business and thus repay myself at commercial rates (about 2% above base). I would imagine then, that when I sell the property or rent it out within the confinements of the Ltd company then I will land up paying less tax in the longrun. The Ltd company cannot go bust as I contract through it.

What do you think Paddy?

[SPELLING W@NKERS OFF/]

 

[_V_]

Do you really think there is a market for Thai Tat?

 

[AtW]

Incorrect closed tag, it should be: [/SPELLING W@NKERS OFF]

Now it must be good time to buy stuff in Thailand - with that junta and stuff, pay soldiers to get you cheap goods.

hth

 

[Mordac]

DCJ ????

The aforementioned David Contracting Joiner, your predecessor in the "I can't believe anyone takes this guy seriously" category.

 

[n5gooner]

[SPELLING W@NKERS OFF]

I was wondering about that Paddy. I was thinking of lending the money(personally) to my LTD company, therefore making it a directors loan(ATW/Andyw need not enter this conversation as it is above them)

That way I can still contract as well as sell Thai tat through the business and thus repay myself at commercial rates (about 2% above base). I would imagine then, that when I sell the property or rent it out within the confinements of the Ltd company then I will land up paying less tax in the longrun. The Ltd company cannot go bust as I contract through it.

What do you think Paddy?

[SPELLING W@NKERS OFF/]

the advantage of doing this is as the comapny pays you back you can use this instead of drawing a salary, thus not paying NI or TAX, also if you were to create several shares in the comapny, say 4 and pay each a dividend for £250 then you should be sorted.

 

[Churchill]

Looks like I may be opening a new shop in Bath. But this time I am buying the building. Yes. Here me fools. Buying the building.

For cash.

Now to Thailand!!!

Congrats, well done.

Hear

 

[oraclesmith]

Just a suggestion: Have the property under one limited or offshore company. Run the business under a different UK Ltd company and pay rent to the company owning the property. If the shop goes bust or you sell it you still have the property.

Good advice.

See the Time Computers case.

 

[Paddy]

[SPELLING W@NKERS OFF]

I was wondering about that Paddy. I was thinking of lending the money(personally) to my LTD company, therefore making it a directors loan(ATW/Andyw need not enter this conversation as it is above them)

That way I can still contract as well as sell Thai tat through the business and thus repay myself at commercial rates (about 2% above base). I would imagine then, that when I sell the property or rent it out within the confinements of the Ltd company then I will land up paying less tax in the longrun. The Ltd company cannot go bust as I contract through it.

What do you think Paddy?

[SPELLING W@NKERS OFF/]

Lending money to the Limited Company is fine and makes sense but I would still spit the business in various companies.

I have just got a friend who owns a shop out of the poo by splitting up the business into various Limited Companies for assets and retail. The retail section now leases everything from his Leasing Company. I would strongly recommend spreading the load over a number of companies not just for a worst case scenario but also looking to the future regarding inheritance tax and capital gains.

If I were doing a similar business I would have one company for the purchasing/supplies.
Another for the retailing.
Another for the assets and/or Freehold.

If something goes wrong with the shop; you still have the freehold and the supplies company, so you or the wife, or friend can open up again on Monday morning.

Offshore ownership of freehold property is common and it is secure and anonymous.

Eg The land registry will registry it as ABC Incorporated PO Box 444 Panama. Sometimes with a UK forwarding address eg Box 12 1000 High Street Anytown.

The advantage of offshore is that if you have kids, you can make them a director of the offshore company and there will not be any inheritance tax because the property is “owned” by the offshore company.

 

[AtW]

Surely if something serious goes wrong, then credits would ask court to consider that companies are too close to each other run by the same person and can argue a case where by other companies are as responsible as the one that actually traded and gone bust.

The structure that you describe is a sure thing for big businesses, but here you will have one or two people controlling everything, IMO it makes it look very artificial.