DCJ ????
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Monkey Trading - Bath
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[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/]What happens in General, stays in General.You know what they say about assumptions!Comment
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Do you really think there is a market for Thai Tat?First Law of Contracting: Only the strong surviveComment
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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.
hthComment
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Originally posted by AndywDCJ ????His heart is in the right place - shame we can't say the same about his brain...Comment
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Originally posted by 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/]SA says;
Well you looked so stylish I thought you batted for the other camp - thats like the ultimate compliment!
I couldn't imagine you ever having a hair out of place!
n5gooner is awarded +5 Xeno Geek Points.(whatever these are)Comment
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Originally posted by MarillionFanLooks 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!!!
HearComment
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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.
See the Time Computers case.It's my opinion and I'm entitled to it. www.areyoupopular.mobiComment
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Originally posted by 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/]
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."A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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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.Comment
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