Originally posted by Andy O
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Drawing salary when not trading
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Originally posted by Andy O View PostMaybe the accountant said you can't draw any more salary because you didn't have a war chest and he didn't want you spending your corporation tax and leaving you short at year end.Comment
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Originally posted by smileyface View PostCan somone please give me advice re drawing salary (and expenses) when not trading?
I have been drawing a monthly salary since April 2016 but my contract is finishing next month.
My accountant says since I won't be trading in September, I am not allowed to draw a salary. Is that true?
What about expenses? Even though I'm not trading, ie don't have a contract, I'm still the director of my company and am running it, so should I be allowed to draw a salary, as well as expenses from September onwards?
Thanks"A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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Originally posted by Paddy View PostYour accountant is cr@p. You should continue to draw salary. If you are looking for contracts then you claim expenses such as travel. You can even make yourself redundant and pay yourself redundancy. If you want, you can then fold up the company and start again with a new company.
Redundancy? Are you sure?
Closing the company and restarting. Are you sure?
http://www.chrismaslin.co.uk/tax-tip...ls-overstated/Last edited by Contractor UK; 28 October 2016, 08:32.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostOh dear lord.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
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If you want, you can then fold up the company and start again with a new company.Comment
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