This one is a bit off topic, so can anyone with any advice please reply off-list, and direct to me at john.jones(at)newsphoto.co.uk.
I'm in the process of changing the way I work from being a sole trader to a limited company - this is in the UK - so apologies to those for whom this will be of no interest. I don't really want to transfer ownership of my camera and computer equipment to the new cpompany, but would like, instead, to lease it to the company at a nominal figure - probably �1 ukpound per item, so as not to run the risk of paying myself more than the tax threshold. I want the company to then pay for the insurance and repair costs of the kit. Doing this, I retain ownership, so if it all goes pear-shaped, I can keep the means of making a living. My new accountant hasn't come across this way of doing things before, and thinks I can't do it, and should transfer ownership of the kit to the new company. My argument is that it would be just like leasing a car or anything else - it's between me and the company to work out the terms of the lease (although effectively, I AM the company). I need to know if anyone else has come across this or a similar solution, or knows whether it would be aceptable in terms of UK company law/regulations etc. Many thanks, and apologies for taking up your time with an OT topic. John Jones -- John Jones News Photography News, PR and Corporate Photography Serving Hull, East Yorkshire and Northern Lincolnshire. Cuttings File and Online Portfolio at: http://www.newsphoto.co.uk Tel: 01482 632366 Mob: 07971 556957 Fax: 01482 635497 =============================================================== GO TO http://www.prodig.org for ~ GUIDELINES ~ un/SUBSCRIBING ~ ITEMS for SALE
