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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 10595
Experience:  FCCA FCMA CGMA ACIS
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Can my own company have business trade with my parent's

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can my own company have business trade with my parent's company?

Yes, because each company is a separate legal entity as, indeed, are you and your parents.

Customer: replied 14 days ago.
I am the only director and PSC of my mother's company without any share. and I also have my own company, so it is legal if there are trading between them?

Perfectly legal.

Customer: replied 14 days ago.
does HMRC will consider we are making fake turnover? if yes, how can I prove it is not or what kind of material we should keep to prove it?
Customer: replied 14 days ago.
many thanks

Just keep a record of invoices etc.

Customer: replied 14 days ago.
good thank you
Customer: replied 14 days ago.
also, as I am the only director and PSC of my mother's company without any share. so am I classed to employee for hmrc?

A director is an employee per se.

bigduckontax and 2 other Tax Specialists are ready to help you
Customer: replied 14 days ago.
thank you.

Pleased to have been able to help.