I paid (for example) £50 pre trading on a company address to handle my mail. Since trading I have loaned my company an amount of money. On the first day of trading I'm allowed to claim the £50 as an expense but I've obviously still paid the £50 itself. So do I decide how to treat that money (i.e. make it an extra loan) or is there a particular way it has to be done?
Replies (7)
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Your accountant will deal with this when the company’s first accounts come to be prepared - presumably in about a year’s time.
This is basic. You're going to struggle without accountancy advice.
I'd recommend appointing one without delay.
Ask yourself "what else don't I know ?" ©
And "what don't I know that I don't know I don't know ?" ©
Slightly? You're tough to please. Even some market research on company names thrown in for free.