I've just taken on a new Ltd Co client - contractor
The directors loan account has transactions which say
B.P.M.P. - any clues what this stands for? Client doesnt know.
Home Phone bills, 80% of Home broadband, rent (no licence agreement that client is aware of and nothing on personal tax return) - you cant do this can you? I thought use of home for a contractor was either the increment in the variable portion of bills, a rent from person to Ltd or £4 per week.
Any clues?
Thank you
Replies (4)
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Mobile Phone
Hi
Is his mobile phone in his name or the company name. If it is his name it may be the business proportion of the mobile phone
Just read your query, what about..
... Business proportion, monthly payment?
Just guessing, but from your other description it does fit.