I am co-founder and a director and 'employee' of a CIC. What are people's opinions of running a business with a spouse? I am the driver behind the company, any business we get is because I have put…Continue
For any accounting related queries, including accounts software package questions, grants and trading income treatment, HMRC or Companies House queries/issues, tax reliefs for CICs, links to useful finance information etc
Short answer is yes, the invoice will be a record of a transaction that has occurred - I am assuming VAT is not an issue. Subject to timings & amount (ie over £1,000) the 'drawings' will be declarable via self…"
HiWe set up our CIC in June last year. We've been taking money for living expenses as drawings. I know now that this isn't the correct way to do things. I know we need to invoice as another entity or ourselves, but don't have a named business re individual self assessment, as we had previously closed down a partnership to solely run the CIC.Question 1 is can we backdate invoices?Question 2 is how do we do this if we don't now have a private registered business as individuals? (We were a…See More