Hello
Can anyone check if dividends can be taken please as per below please :-
1. Jan, LTD Co year starts, accounts show 10,000 retained profits.
2. March Director's loan (startup funding), pays for services worth 30,000
3. Apr, 5,000 of sales made.
4. Nov, can 10,000 dividends be declared/taken?
Not sure if (3) is relevant, makes any difference..
Secondary question: Can any business which takes a startup loan never declare dividends until they are in profit?
tips appreciated! rich
Can anyone check if dividends can be taken please as per below please :-
1. Jan, LTD Co year starts, accounts show 10,000 retained profits.
2. March Director's loan (startup funding), pays for services worth 30,000
3. Apr, 5,000 of sales made.
4. Nov, can 10,000 dividends be declared/taken?
Not sure if (3) is relevant, makes any difference..
Secondary question: Can any business which takes a startup loan never declare dividends until they are in profit?
tips appreciated! rich
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