This year has been a big one in terms of spending and I do not anticipate the next year to be the same. I am short of 25k roughly which my company has in the bank but anything I pay out will be taxed at 32.5% now so it is a bit painful.
Can I take out a 25k (12.5k myself & wife who is NOT a director but is 50/50 in the company) directors loan in March (want to fill up the ISA before the allowance expires) and come 6th of April release 25k in dividends and pay it all back? Obviously I know there will be some interest incurred here but is this legit? Yes I will ask my accountant..
Can I take out a 25k (12.5k myself & wife who is NOT a director but is 50/50 in the company) directors loan in March (want to fill up the ISA before the allowance expires) and come 6th of April release 25k in dividends and pay it all back? Obviously I know there will be some interest incurred here but is this legit? Yes I will ask my accountant..
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