Shareholder to withdraw more dividends

[northernladuk]

Nice to see that NAT hasn't lost his inability to perform simple tasks....

All fur coat and no knickers.

[SimonMac]

All fur coat and no knickers.

Ahhhh so thats why you get away with so much, you have the photos

[stek]

Dewey, Cheatem & Howe

Wier, Norfolk & Goode.....

[TheCyclingProgrammer]

I needed extra money for a mortgage deposit last year.

The scheme I came up with was to take an extra dividend and pay higher rate tax on it.

Crazy I know.

[pr1]

I needed extra money for a mortgage deposit last year.

The scheme I came up with was to take an extra dividend and pay higher rate tax on it.

Crazy I know.

YANCOTBAC

[JB3000]

Looks like a sockie

Shows over................back to work

[BolshieBastard]

Hi all,

I have been contracting for couple of years. I am looking to buy my house and am in need of more cash for my deposit. My accountant advised me to consider making a (non working) friend as my shareholder. I am single so I dont have an option to make my spouse a shareholder.

My friend can withdraw dividends from my company as a shareholder and give that money to me as gift. Is this a safe approach ? Will I get myself in trouble with HMRC ??

Any guidance on this topic will be much appreciated. Thanks.

Regards,
Sophie

LOL! Seriously, you are considering this 'advice'?

Would you let a friend have full access to your bank account as well?

[NotAllThere]

[vetran]

This may be of some use :


https://www.gov.uk/directors-loans/overview


far safer than some dodgy dividend scheme.

either borrow for a limited time (9 months) or pay the official rate 3.25% to YOUR company, not its not as cheap as a mortgage but you may well get some of it back.

fire your accountant or at least talk to a professional and ask them to explain why the Vein on NLUK's forehead is throbbing.

[FatLazyContractor]

Hi SockieUK