Salary Advance

[Lance]

Some firms don't charge for catch up fees if you swap mid year so it shouldn't cost any extra.

that a sales pitch?

[Craig@Clarity]

that a sales pitch?

Could be seen that way! Just an innocent helpful comment in reality though.

[northernladuk]

I already have taken it early this year so don't want to use that option

That's a bit tough as that's the way to do this. You have a loan, the wife needs an advance. You sure you aren't digging yourself a hole here? What happens if your gig evpaorates tomorrow?

You got enough money in the account to make sure your dividends are coming out of profit and are not illegal? You aren't spending your tax money hoping you can pay it back later?

[northernladuk]

True. In the process of changing them as soon as company year ends.

I'd agree with the last couple of posts. If you need to leave you leave. Accountants should bend over backwards for your new business at the moment. It's a doddle if you are in FA and they will go above and beyond to onboard you in the current climate. You hold the power now.

[Geekman]

That's a bit tough as that's the way to do this. You have a loan, the wife needs an advance. You sure you aren't digging yourself a hole here? What happens if your gig evpaorates tomorrow?

You got enough money in the account to make sure your dividends are coming out of profit and are not illegal? You aren't spending your tax money hoping you can pay it back later?

Thanks for checking. I think I am safe. I have gone with umbrella so will have my PAYE salary from umbrella; no salary from limited company. Wife will continue to take limited company salary. No we are not spending tax money. thanks!

[Paralytic]

Thanks for checking. I think I am safe. I have gone with umbrella so will have my PAYE salary from umbrella; no salary from limited company. Wife will continue to take limited company salary. No we are not spending tax money. thanks!

What is the company paying your wife to do whilst it is effectively dormant? And, how much?

[fidot]

And, how much?

The amount was specified in the OP

[Paralytic]

The amount was specified in the OP

I see you omitted to answer the more critical part of the 2 part question.

[fidot]

I see you omitted to answer the more critical part of the 2 part question.

I haven't answered that part ad I have no knowledge nor opinion about it.