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by phphphphp
1516 days ago
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Sorry, for clarity, I mean tax minimisation of existing liabilities. You (based on your description) do not have an existing liability that you're looking to minimise, rather, you're looking to minimise future liabilities. Property is a common example of an asset that someone may wish to transfer into a Limited company to minimise existing liabilities (for example, stamp duty). If your business was something you'd acquired personally (i.e: you paid £500k of your own money to acquire from a third-party) and you were still in the red on the acquisition which was influencing your tax situation, that would be an example where you'd want to consider tax minimisation in the process of forming a Limited company. |
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So I've not borrowed any money, or bought anything over the years for business use besides domain registration, email hosting, web hosting, laptop and phone. The SaaS does have value without me though so I think it's sellable if that's relevant.