Is there any kind of issue with me paying the prizes in this way? In case anyone’s wondering, the site in question is Removed
Ideally I’d like to run the site under my company in order that I might be able to treat the prize money as an expense (if this is allowed). I assume I’d need to sell the website to my company first at a fair price (which I’d hope would be £1 as the site is loss-making!).
From the perspective of using your Monzo account I don’t think it’s so much whether or not it is a business but whether or not Monzo will accept what you are doing doesn’t consitute a business operation
I don’t think you have to sell the website to your company but if you where turning it into a business you may want to consider whether or not you can setup some kind of loan in the company to reimburse your reasonable costs to date for getting it started
It’s not Monzo.me, but you can pay people by sending them a link. It takes them to a web page where they input their sort code and account number, and the money gets sent to their account.
