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Post Info TOPIC: company expenditure put into personal account
abiola


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Posts: 4
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company expenditure put into personal account
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Hi all,

registered a company (LTD) on the 24th of March and had some regulatory pre trading expenditure  that i paid for on behalf of the company. The invoices of the expenditure were all addressed to the company. The company was not trading at this point. I then put through this expenditure on my personal self assessment and filed a zero company return since the company was not trading. 

 

The issue is that the tax man wants the expenditure put through my comppany accounts and not my personal accounts since they were company pre-trading expenditure.

Any advice on geting this resolved.

 



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MarkS


Expert

Status: Offline
Posts: 1501
Date:
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Sounds right

Expenditure is for the company and should be included in the company accs.  I guess the costs you are talking about are costs to get the company set up at Companies House.

Easiest way to record would be to

Dr Exp (Pre Trading Costs)

Cr Directors Loan

Regards

MarkS



__________________

Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
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