Cash

[Pl plastering]

If you have a personal and separate business account then I would put it in the personal account. No more than 4K at a time as 5k and over gets flagged....(not that you’ve done anything wrong or it’s from skulduggery, but why have the agro). Then transfer the money to business account as a directors loan. You can then pay it back to yourself tax free when you’ve got it.

There look at all ur accounts,personal and buisness..I know as I've been investigated b4..

 

[zombie]

There look at all ur accounts,personal and buisness..I know as I've been investigated b4..

Not nice is it!

 

[Bricktop]

There look at all ur accounts,personal and buisness..I know as I've been investigated b4..

Yeah but the cash could of been savings or from the sale of an item that’s not business related.

 

[johniosaif]

Yeah but the cash could of been savings or from the sale of an item that’s not business related.

Could of , hmrc don’t like could of , I’ve been investigated

 

[Pl plastering]

Yeah but the cash could of been savings or from the sale of an item that’s not business related.

Savings from what? If £4k goes in your account then transferred to ur buisness account then there know what's going on

 

[Bricktop]

Could of , hmrc don’t like could of , I’ve been investigated

Out of interest what happens? Was it about VAT?

 

[Pl plastering]

Could of , hmrc don’t like could of , I’ve been investigated

Same here,that wouldn't wash,I've been in there offices and the lot

 

[Bricktop]

Same here,that wouldn't wash,I've been in there offices and the lot

How come you’ve been in there offices?

 

[Pl plastering]

Out of interest what happens? Was it about VAT?

Nowt,u get investigated,told me to go into offices with my accountant and paperwork,had to explain what was that,if there didnt like the answear there told me to explain more,ended up owing £3k

 

[Pl plastering]

How come you’ve been in there offices?

Was years ago,about 13..not sure there would do it now would all be online/phone..tbh I was dealing with 2 people the woman was sound the guy was a absoloute t**t saying I dont care how you get the money u need to pay it straight away,told woman she said dont worry pay us back £300 a month till debt cleared so did that 4 couple years as added interest on

 

[johniosaif]

Was years ago,about 13..not sure there would do it now would all be online/phone..tbh I was dealing with 2 people the woman was sound the guy was a absoloute t**t saying I dont care how you get the money u need to pay it straight away,told woman she said dont worry pay us back £300 a month till debt cleared so did that 4 couple years as added interest on

I had a £100 k hit for cgt

 

[johniosaif]

Out of interest what happens? Was it about VAT?

CGT , vat is a ‘now’ thing sadly

 

[Bricktop]

CGT , vat is a ‘now’ thing sadly

Pain mate. Is most of your plastering work domestic?

 

[johniosaif]

Pain mate. Is most of your plastering work domestic?

Yes , normally domestic, a few builders, I got caught in the vat as builders were paying slow some paid my partner as he was always skint , so it looks like I had a larger turnover than I had