Buying Wholesale/Personal Use

[MarillionFan]

Nice one, ta.

Have been before with a friend who is a member so familiar with the concept.

Wasn't able to make it this week so will head down next week to the Reading branch which is my nearest.

Thats my branch as well. You'll love it.

BTW. Don't buy too many cakes!!!!!! You'll know what I mean later

[Clippy]

Both. Contracting & Shop Ltds. I put it under Memberships.

You can join the PCG, you can join Costco. It gives you really really good deals on stuff for the business.

Seriously, I'd recommend going along. Take along chequebook, couple of Ltd forms and away you go.

For example, my Ltd has always paid £120 per month for my office. I have a dedicated room in my house for an office. The Ltd pays me rent for it.

Plus my mobile phone is part of the Ltd, printer ink, paper.

BTW : Costco website is rubbish so dont bother looking at it.

Nice one, ta.

Have been before with a friend who is a member so familiar with the concept.

Wasn't able to make it this week so will head down next week to the Reading branch which is my nearest.

[MarillionFan]

Is this your IT contracting Ltd?

What do you show the cost as in your company accounts?

Both. Contracting & Shop Ltds. I put it under Memberships.

You can join the PCG, you can join Costco. It gives you really really good deals on stuff for the business.

Seriously, I'd recommend going along. Take along chequebook, couple of Ltd forms and away you go.

For example, my Ltd has always paid £120 per month for my office. I have a dedicated room in my house for an office. The Ltd pays me rent for it.

Plus my mobile phone is part of the Ltd, printer ink, paper.

BTW : Costco website is rubbish so dont bother looking at it.

[Clippy]

Ltd company. Quite good Costo, loads of business equipments, computing equipment, stationary etc as well as all of the rest. Fantastic for Chrimbo pressies.

All of my staff have a card through the shop as well. Thats about the only benefit I give them though!

Is this your IT contracting Ltd?

What do you show the cost as in your company accounts?

[MarillionFan]

So, am finally going to sign up with Costco similar to as described above.
i.e. Sign up using my Ltd Co. details but pay for shopping via my personal funds.

One question to anyone who is already signed up - how did/do you pay for your membership fee? Via your Ltd Co or via personal funds?

If via your Ltd Co, what do show this cost as? Trade Warehouse membership or similar?

Ltd company. Quite good Costo, loads of business equipments, computing equipment, stationary etc as well as all of the rest. Fantastic for Chrimbo pressies.

All of my staff have a card through the shop as well. Thats about the only benefit I give them though!

[portseven]

[QUOTE=Clippy;1095767]
One question to anyone who is already signed up - how did/do you pay for your membership fee? Via your Ltd Co or via personal funds?

[QUOTE]

When you sign up for Costco they ask for company documentation, but they don't insist on the funds coming from your company. They don't care as long as you can pay, though I seem to recall they don't take credit cards or cheques.

So sign up and just pay with your personal card. I think the company thing is just a formality. My Costco membership is tied to a Ltd co that I closed down 5 years ago, they never check.

[northernladuk]

I would have thought without this type of personal business most of these places would have gone bust anyway. Makro certainly didn't look like a B2B type thing last time I was in there for sure.... lol

[Clippy]

Hi
I know a number of contractors who have used their LTD company to sign up with wholesalers (Costco etc) and then buy things (using their own, personal funds) at vastly reduced prices, for personal use.

cheers

No there is no problem with this.

As long as the goods purchased don't go through the business in order to avaoid paying tax on them Hector will not give a stuff.

So, am finally going to sign up with Costco similar to as described above.
i.e. Sign up using my Ltd Co. details but pay for shopping via my personal funds.

One question to anyone who is already signed up - how did/do you pay for your membership fee? Via your Ltd Co or via personal funds?

If via your Ltd Co, what do show this cost as? Trade Warehouse membership or similar?

[Bluebird]

Hi
I know a number of contractors who have used their LTD company to sign up with wholesalers (Costco etc) and then buy things (using their own, personal funds) at vastly reduced prices, for personal use.

What's the official line on this? I argued that i presumed the wholesaler will invoice the person's company whenever they purchase something, even though they are paying with their own funds, so therefore it may be dodgy practice to do this? Is this correct?

cheers

No there is no problem with this.

As long as the goods purchased don't go through the business in order to avaoid paying tax on them Hector will not give a stuff.

If Costco or whoever are happy for people to pay lower prices - what should it matter ? It's their decision afterall.

[Ruprect]

Also there is no invoice to your company, you just get a receipt like any other shop.

[Ruprect]

No its not correct. Why should it make any difference? To the taxman, this is just another outlet from which you purchase goods. TBH macro is not always that much cheaper than anywhere else on the high st/online.

[Mr_Z]

Hi
I know a number of contractors who have used their LTD company to sign up with wholesalers (Costco etc) and then buy things (using their own, personal funds) at vastly reduced prices, for personal use.

What's the official line on this? I argued that i presumed the wholesaler will invoice the person's company whenever they purchase something, even though they are paying with their own funds, so therefore it may be dodgy practice to do this? Is this correct?

cheers