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Post Info TOPIC: Director taking money out of company


Senior Member

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Director taking money out of company


hi just looking for a bit of advice,

i have a client who is a company director and her company has been set up since 2010. She is looking to start up a separate new business and is wondering if she can take some money out of her existing company to help set up her new company.

would she be able to take as dividend or would she be better off doing it as a loan

any suggestions or advice would be appreciated

thanks

stephen



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Master Book-keeper

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Posts: 7091
Date:

Is she a participator in existing company?

What is legal status of the New bus?

Does she have a DLA she can draw on?

Does she have profit available to pay a dividend?

Have you run this via her accountant?


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Joanne

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Posts: 7091
Date:

Hi Stephen
Did you manage to get this one sorted?

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Joanne

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Senior Member

Status: Offline
Posts: 141
Date:

Hi Joanne. Sorry for the late reply
Yes I have got it sorted, she is going to do it as an inter company loan

Thanks
Stephen

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