Hi
I know a number of contractors who have used their LTD company to sign up with wholesalers (Costco etc) and then buy things (using their own, personal funds) at vastly reduced prices, for personal use.
What's the official line on this? I argued that i presumed the wholesaler will invoice the person's company whenever they purchase something, even though they are paying with their own funds, so therefore it may be dodgy practice to do this? Is this correct?
cheers
I know a number of contractors who have used their LTD company to sign up with wholesalers (Costco etc) and then buy things (using their own, personal funds) at vastly reduced prices, for personal use.
What's the official line on this? I argued that i presumed the wholesaler will invoice the person's company whenever they purchase something, even though they are paying with their own funds, so therefore it may be dodgy practice to do this? Is this correct?
cheers
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