Get Paid

[NewGuy]

Hi,

I've been paid by my clientco for the first time.

Could I just take some money out and organise the share dividend paper work next week.

I've never done this before so I don't just want to take Money if it's the wrong thing to do! Ordinarily I would ask my accountant but its the weekend and skint.

Cheers for any help

[topper]

You should really have been on top of it knowing how much you have invoiced, but Divis can only be taken from profit remember so make sure you are well under, only take what you need to get through weekend basically, and then you can declare a Divi on monday, or just class it as a loan and pay back from your full Divi.

Speak with your accountant next week to make him\her aware of what you have done!

[stek]

Where's NLUK?

[topper]

Where's NLUK?

Still reading the full budget report for the 2nd time?

[NewGuy]

Where's NLUK?

I dont need NLUK in here!!

I just wanted to make sure i wasnt doing a super bad thing.

thanks.

[stek]

I dont need NLUK in here!!

I just wanted to make sure i wasnt doing a super bad thing.

thanks.

How come it wasn't sorted? Surely it takes longer so sort the bank account than to put the PAYE/Divs in place?

[kaiser78]

Still reading the full budget report for the 2nd time?

Big assumption on the reading front...

[topper]

Big assumption on the reading front...

They do a picture version don't they?!?!?

[radish2008]

Hi,

I've been paid by my clientco for the first time.

Could I just take some money out and organise the share dividend paper work next week.

I've never done this before so I don't just want to take Money if it's the wrong thing to do! Ordinarily I would ask my accountant but its the weekend and skint.

Cheers for any help

It's your money. Do what you want with it. There is nothing wrong with taking cash and declaring a dividend after the fact. A dividend taken without sufficient money to meet your liabilities is classed as illegal but who on earth is really going to know. Just make sure you do have enough to pay your tax etc ...

[stek]

It's your money. Do what you want with it.

This is so wrong it's untrue, it belongs to this OP's Ltd, a legally separate body.