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Thread: Company advice

  1. #1
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    Company advice

    I have finalised all the banking stuff, opened accounts as i planned and took the time to understand the fees for each account and ways to save on interest, monthly fees and transaction fees.

    Now the next step, What to do about the Sole prop and CC

    Would it be as simple as to stop trading as a sole prop and advise all my customers that my company name and banking details have changed.

    Leave the sole prop as is for a couple of months while the customers get use to the change, then close it and deregister from Vat.

    The reason i am thinking like this is because at present i pay an accountant to do my Vat every 2 months, if change to the cc which is not Vat registered i only need to get the accountant to sort out the books every 6 months.

    My vehicle is paid off and i no longer have any outstanding accounts, everything is paid up, so now is a good time for change.

    My Vat is up todate and i havent purchased anything recently which i would need to pay back the Vat.

    I paln on purchasing a new vehicle, but it will be a VW crew cab and i cant claim the vat back because it is not a panel van. The strange thing about this, you cant claim the Vat but if you have an accident with staff in a closed van not suitable for carrying staff, you cannot claim workmans comp.

    Most import i have down scaled, so i no longer have to worry about the Vat threshold.

    Any words of wisdom?

  2. #2
    Site Caretaker Dave A's Avatar
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    So do it already

    I enjoyed the chat today, Ian. I'm sure life will be a lot clearer when the business is seperate from your private affairs.
    The trouble with opportunity is it normally comes dressed up as work.

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    Diamond Member Blurock's Avatar
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    Well done Ian. The wisest words I know is "go and make money!"
    Excellence is not a skill; its an attitude...

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    Silver Member Darkangelyaya's Avatar
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    Wow Ian #curtsies#, wow.
    So how much did defencex pay you?
    ~Anything or anyone who does not bring you alive, is too small for you~ Carina
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    Silver Member Darkangelyaya's Avatar
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    Oh, and stay away from permanent contracts with staff. Mine works when there's work, and yesterday i really thought I had encephalitis, and they all stayed meekly home. Eish the madam.
    ~Anything or anyone who does not bring you alive, is too small for you~ Carina
    ~The moment you think you know it all, is the moment you know nothing~ Carina
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    Full Member Cpt Chaos's Avatar
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    Well Done Ian, its a huge step in the right direction. Now all you need to do is go out and make some money
    For all your I.T. Support in Cape Town contact Dynamic Support.

    "You must be the change you want to see in the world. ~ Mahatma Gandhi"

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