From what I read, starting as a ltd company means that your financial standing has to be in the company name, where as if you start up as a sole trader it can be in another name ( ie your brothers)
I have the chance of some work coming up, and could do with moving forward with getting an o licence sorted out, I can transfer this money to another account in a company name but then risk losing this work by waiting 3/4+ months just to leave it sitting an account.
How frowned upon is this by the T/C? The way its stated seems its quite legal, but don’t want to get so far down the line to be turned down.
When I done mine they granted the licence but under the condition I sent three months statements in for the following three months after tge licence was granted.
As an aside if you have to borrow this money before you start how to you expect to survive until you see the money come in.
Even a deposit on a truck and first months payment on hp or lease first months insurance ved and fuel comes to a few quid without the inevitable few quid on getting any bits done to the truck comes to a fair chunk
Truck is already bought and paid for, this is just a way that I can free 7k up of my own money as opposed to leaving it sat there that you are never going to touch.
And as a bonus I’m collecting weekly payments from the customer, just a case of getting the ball rolling.
kr79:
When I done mine they granted the licence but under the condition I sent three months statements in for the following three months after tge licence was granted.
As an aside if you have to borrow this money before you start how to you expect to survive until you see the money come in.
Even a deposit on a truck and first months payment on hp or lease first months insurance ved and fuel comes to a few quid without the inevitable few quid on getting any bits done to the truck comes to a fair chunk
Did they notify you in advance when O Licence was granted, did they charge you for the issue of a licence without warning ? I sent mine 2 weeks ago and they didn’t charge me yet for application fee !!! Strange
kr79:
When I done mine they granted the licence but under the condition I sent three months statements in for the following three months after tge licence was granted.
As an aside if you have to borrow this money before you start how to you expect to survive until you see the money come in.
Even a deposit on a truck and first months payment on hp or lease first months insurance ved and fuel comes to a few quid without the inevitable few quid on getting any bits done to the truck comes to a fair chunk
Did they notify you in advance when O Licence was granted, did they charge you for the issue of a licence without warning ? I sent mine 2 weeks ago and they didn’t charge me yet for application fee !!! Strange
Thanks
Sent mine off last week and they took the application fee out the day they recieved all the forms. Might be worth checking they have recieved all your forms.
kr79:
When I done mine they granted the licence but under the condition I sent three months statements in for the following three months after tge licence was granted.
As an aside if you have to borrow this money before you start how to you expect to survive until you see the money come in.
Even a deposit on a truck and first months payment on hp or lease first months insurance ved and fuel comes to a few quid without the inevitable few quid on getting any bits done to the truck comes to a fair chunk
Did they notify you in advance when O Licence was granted, did they charge you for the issue of a licence without warning ? I sent mine 2 weeks ago and they didn’t charge me yet for application fee !!! Strange
Thanks
Sent mine off last week and they took the application fee out the day they recieved all the forms. Might be worth checking they have recieved all your forms.
It was sent next day recorded and the tracking number says it has been received.But I’m going to call them on Monday making sure they’ve got it.
they can be abit slow taking payments they were with mine,
as for show the money ltd company must have a bank account in company name, i made this mistake myself having it in my name at the start, now i have to show jan to march bank statements at the end of march.
they do not like the 7k just sitting around they like to see money moving in and out the account.
