Start up costs / capial

[JonSmile]

Here we go... :

LOL, why do you think I put in that comment

Jon

[Jason D]

s

and have a 50/50 shareholding with the wife (and send her out to work!)

Cheers again

Jon

Here we go... :

[JonSmile]

cool

Guys

Cheers for the quick responces..

I guess I have been reading and thinking about this for too long and making my life more complicated than it needs to be, I should just go for it (but you know how hard it is to get of the permie train).

I wil do the simple and set up with 2 £1 shares and have a 50/50 shareholding with the wife (and send her out to work!)

Cheers again

Jon

[TheFaQQer]

Pay in the £2.

Keep a track of the expenses, and pay them once your company has the money to reimburse you.

Alternatively, loan the company some money so that it can pay you back straight away.

Of the two, I'd go with the first one, and refund the expenses once the company can afford it.

[dotnetter]

You normally have a £100 share capital to start with.

Why are you worrying about claiming expenses now? You worry about offsetting your expenses when you come to pay your corp tax at the end of your first year.

[Bluebird]

Good Morning all,

Sorry if this has been askd before, but I have searched and could not find it anywhere (but did find some good stuff that distracted me for half a day!)

I am about to press the button to form a ltd company and need to understand / have advice about starting capital / share premium / startup costs.

If I issue 2 £1 ordinary shares for £1 each, my company will have £2 share capital and £2 in the bank (Wow). So I now want to reclaim the business expense of setting up the company (about £75+vat for an off the shelf one) and also things line the web site costs incurred for the next 2 years (about $80).

This means that the company is already about £120 down on day one (before I have even set up the business bank account!).

OR do I set up the company and issue the 2 £1 shares at a premium of say £99 so I get £200 in the bank, meaning I can straight away recover the startup costs?

OR do I wait to claim the expenses until the income starts to roll in? ( I could always book it as accrued expense before submitting it as an actual cash out of the door expense)? (and do I then out in £2 or £200?)

Cheers
Jon

Why not just re-imburse the expenses [ to your employee - ie you ] when the company has been paid for it's services ?

[JonSmile]

Good Morning all,

Sorry if this has been askd before, but I have searched and could not find it anywhere (but did find some good stuff that distracted me for half a day!)

I am about to press the button to form a ltd company and need to understand / have advice about starting capital / share premium / startup costs.

If I issue 2 £1 ordinary shares for £1 each, my company will have £2 share capital and £2 in the bank (Wow). So I now want to reclaim the business expense of setting up the company (about £75+vat for an off the shelf one) and also things line the web site costs incurred for the next 2 years (about $80).

This means that the company is already about £120 down on day one (before I have even set up the business bank account!).

OR do I set up the company and issue the 2 £1 shares at a premium of say £99 so I get £200 in the bank, meaning I can straight away recover the startup costs?

OR do I wait to claim the expenses until the income starts to roll in? ( I could always book it as accrued expense before submitting it as an actual cash out of the door expense)? (and do I then out in £2 or £200?)

Cheers
Jon