Hi all,
I run a LTD company and i have an accountant and he allows me to take £500 (PAYE) and £2000 (divident) and iam claiming expenses for petrol, car insurance, mobilephone, GYM and ofcourse FOOD.
Now, very basic question IS THERE ANY OTHER WAY (MORE MONEY) I CAN TAKE MONEY FROM MY COMPANY ACCOUNT?
My accountant is telling me that i should pay 40% TAX for that... he is asking me to do OFFSET MORTGAGES if i have to take money out...
I still have some credit card debts to pay now the £2500 (PAYE + Divident) is not enough to pay off my bills... i found very annoying where i can see my money but, i can't touch it...
Iam not trying to cheat the HMRC to take more money iam just looking @ the options available to take the money OUT...
Any suggestions plz?
Thanks
I run a LTD company and i have an accountant and he allows me to take £500 (PAYE) and £2000 (divident) and iam claiming expenses for petrol, car insurance, mobilephone, GYM and ofcourse FOOD.
Now, very basic question IS THERE ANY OTHER WAY (MORE MONEY) I CAN TAKE MONEY FROM MY COMPANY ACCOUNT?
My accountant is telling me that i should pay 40% TAX for that... he is asking me to do OFFSET MORTGAGES if i have to take money out...
I still have some credit card debts to pay now the £2500 (PAYE + Divident) is not enough to pay off my bills... i found very annoying where i can see my money but, i can't touch it...
Iam not trying to cheat the HMRC to take more money iam just looking @ the options available to take the money OUT...
Any suggestions plz?
Thanks
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