Can you be sub-contracted to a company you own!
Two independant person each now have a self-employed trade.
They equally own a company in the same line of country that they are both directors of.
If they are working on projects the company is involved in can they invoice through their sole trade as any other sub-contractor would to the company and as they would to any other client. The argument being that they are being paid as consultants in cost of sales and not in their capacity as directors which is an admin role and the costs of which would be borne out of net profit, not gross?
Thanks in advance for any thoughts you may have on this.
- VAT registration on digital services supplied outside UK within EU 89 6
- Late RTI filing re SMP 92 2
- Additional information attached to accounts 178 2
- CIS Software 111 1
- Company assets 359 16
- Can anyone recommend a fax send/receive service which I can use via email? 219 6
- MoneySoft 164 2
- Best way to advise a limited company client 65 1
- How to convert a pdf file to.. 660 10
- Payroll cessation and missing overtime 144 2
- Self assessment 144 1
- Self Help Accountancy Book for Client 144 2
- Claiming VAT 125 2
- Do you have to declare business expenditure on a personal credit card on your P11D? 1,120 15
- VAT on Acquisitions and Exempt Supplier 176 4
- Corporation tax on gains from one company to another 273 10
- HMRC website & Adobe Reader 270 5
- Basis period (2nd yr) for a partnership, please any suggestions would be really helpful 154 1
- Auto-enrolment - fact or fiction? 510 9
- Director resignation 740 21
- Straight line write off of Purchase Goodwill ??? 503
- Has anyone been affected by the RBS payment breakdown? 477
- Is there anything wrong with this? 278
- Do subcontractors on work for residential (student accomodation) construction 266
- Uncommercial property business 241
- Apple Employees - RSU vesting and tax witheld 204
- Registering online CWF1 183
- Zoho software in small accounting and bookkeeping practice 179
- Accrued income scheme 179
- VAT - registration needed? 177