Hello everyone - newbie contractor but I've been reading the forums for a while
I've been contracting for just over 6 months and have got a renewal for the next 6 so that side of things is going well. I'm setup as a limited company and have an accountant looking after the financials for me. So far they have been pretty good, helped me get everything setup, answered my questions in a timely (usually) fashion etc. I pay myself a standard salary of approx <£1k/month. All very standard so far.
I just asked my accountant about dividends and they said i can just transfer the money out of the business accountant and into my personal account whenever i feel like it. This goes against some of what i've read online where I need to make a dividend declaration and have vouchers for that amount etc. Which is correct? (I'm now worried that if my accountant is wrong on this, they might be wrong on other items too).
Hopefully I'll avoid too much abuse as I've spoken to my accountant and I've read the guides........
I've been contracting for just over 6 months and have got a renewal for the next 6 so that side of things is going well. I'm setup as a limited company and have an accountant looking after the financials for me. So far they have been pretty good, helped me get everything setup, answered my questions in a timely (usually) fashion etc. I pay myself a standard salary of approx <£1k/month. All very standard so far.
I just asked my accountant about dividends and they said i can just transfer the money out of the business accountant and into my personal account whenever i feel like it. This goes against some of what i've read online where I need to make a dividend declaration and have vouchers for that amount etc. Which is correct? (I'm now worried that if my accountant is wrong on this, they might be wrong on other items too).
Hopefully I'll avoid too much abuse as I've spoken to my accountant and I've read the guides........
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