Hi all,
My partner and I produce work together, and we both have our own limited companies. Often we have joint expenses - such as accomodation expenses for research trips.
What's the best way to split these costs? Should one of our companies pay for it and then invoice half of it to the other?
We're not VAT registered yet, as I imagine that would complicate things somewhat...
Thanks so much,
Z
Replies (5)
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Presume by your using the word "partner"you are not indicating that a partnership exists between the two limited companies?
Bizarrely, if these were investment companies, it seems that per the FTT he would have to have a board meeting for each company for it to be deductible as mgt expenses. See: http://financeandtax.decisions.tribunals.gov.uk/judgmentfiles/j11641/TC0...