Liam2pH
Active member
- Messages
- 28
- Location
- Wokingham/Byfleet
So my best mate and fellow windy is moving abroad.
I'm buying his round off him at a price per month for 18 months. Our initial plan was for him to invoice me every month and then for me to transfer money into his UK account.
While I do my own accounts another friend of mine is a chartered accountant and after having conversations with him, he said HMRC won't allow it to be taxable as despite having a contract in place it's only a deal done on good will. He didn't suggest an alternative.
I'm a sole trader but surely this happens in business constantly... Does anyone have any suggestions?
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I'm buying his round off him at a price per month for 18 months. Our initial plan was for him to invoice me every month and then for me to transfer money into his UK account.
While I do my own accounts another friend of mine is a chartered accountant and after having conversations with him, he said HMRC won't allow it to be taxable as despite having a contract in place it's only a deal done on good will. He didn't suggest an alternative.
I'm a sole trader but surely this happens in business constantly... Does anyone have any suggestions?
Sent using the Window Cleaning Forums mobile app