Advice on getting money from my company

[oraclesmith]

Obviously, when you do this sort of things, you have to make sure that you do it the proper way. Paying a lump sum from your company account to yours is perfectly illegal. You have to make sure that you comply with the laws at all times.

According to the guy that posted the story, his mate didn't end up paying any more tax on it after the HMRC investigation so it must have been above board. It was just that the amount itself attracted attention, probably because the guy was saving up in the company account and then suddenly transferring sizeable lump sums into a building society.

[triboix]

According to the guy that posted the story, his mate didn't end up paying any more tax on it after the HMRC investigation so it must have been above board.

Indeed, that's right!

It was just that the amount itself attracted attention, probably because the guy was saving up in the company account and then suddenly transferring sizeable lump sums into a building society.

I am quite surprised, then
How does it come that HMRC can threaten you that way if you do things legally?

[oraclesmith]

Indeed, that's right!


I am quite surprised, then
How does it come that HMRC can threaten you that way if you do things legally?

I don't know. The poster gave up after making his point. It's possible that there was more to his mates business than meets the eye. The HMRC probably use some sort of data mining software to pinpoint interesting cases so a series of unusual transactions is going to attract attention. Skipping abroad is probably not the thing to mention to your building society when they ask why you have deposited a large sum in the account (which I believe they have to ask due to money laundering regs). "Saving up to buy a house" will attract less attention.