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Recent content by Fabs
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Can I have Ltd company funds on my sports gambling account? (legit reason)
Yeah I've already ruled out the option of using company funds (mentioned above), not worth the trouble. I'm sure they have their own testing sandboxes, but that doesn't mean they let everyone use it - Betfair certainly doesn't, you use their API in "real" mode always, the only difference is you...- Fabs
- Post #19
- Forum: Accounting / Legal
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Can I have Ltd company funds on my sports gambling account? (legit reason)
I wouldn't mind doing that, but what category of expense would that be? And surely would need some proof of that which wouldn't be straightforward to get. I've moved on and considering other options. Being app-based is less than ideal for strategies that require placing a lot of orders...- Fabs
- Post #15
- Forum: Accounting / Legal
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Can I have Ltd company funds on my sports gambling account? (legit reason)
Sorry if I didn't make this clear, the 5K budget was not to drop into the betting account but to cover all associated costs (hosting, domain, design work, advertisement, trading funds as/when needed too, etc etc). Betfair doesn't have a test/simulation environment, they do have a pre-prod api...- Fabs
- Post #12
- Forum: Accounting / Legal
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Can I have Ltd company funds on my sports gambling account? (legit reason)
I asked my accountant and just been told that it's risky to do that because HMRC might want to investigate and will likely say there's a "duality of purpose" on having a gambling account with company money. The account statement would have my own personal activity mixed up with the testing...- Fabs
- Post #7
- Forum: Accounting / Legal
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Can I have Ltd company funds on my sports gambling account? (legit reason)
Thank you for your replies, very useful! Just to make it clear, I'm not planning on using the application functionality as a way to make profits (or losses) for the company. The only way the company would make money is by selling subscriptions and the money made from the testing (if any) would...- Fabs
- Post #5
- Forum: Accounting / Legal
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Can I have Ltd company funds on my sports gambling account? (legit reason)
Hi everyone! It was a bit hard to write a title for this, I'm sorry if it's confusing. I'm a contract software engineer and since last year I've been working on a mobile application outside of my contracts in an attempt to build another source of income for my company. I've been claiming...- Fabs
- Thread
- Replies: 27
- Forum: Accounting / Legal
