I have my own Limited Company and am currently contracting in the IT sector and also work as a freelance Photographer. I am looking to invest in a small van to transport equipment for the business and an office shed. For these I would use the small capital built up in the company and some of my own funds. I am also registered for VAT. What makes me nervous about doing this is that I may go back to full time PAYE employment at any time and am concerned about the liabilities I would incur if I hold on to these assets.
Once of the options I have considered is to keep the company trading for the Photography business (for which the income would be low) if I go back to full time PAYE work.
What are my options in this regard if I wanted to hold on to the Company assets.
Many thanks for any advice received.
Once of the options I have considered is to keep the company trading for the Photography business (for which the income would be low) if I go back to full time PAYE work.
What are my options in this regard if I wanted to hold on to the Company assets.
Many thanks for any advice received.