Shareholder to withdraw more dividends

[FatLazyContractor]

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

Ignore what the other users have said earlier. Treat me as your friend.

Shall I send out my Bank acc + Sort code to your main ID? or should I send it to your Sockie?

[SueEllen]

Ignore what the other users have said earlier. Treat me as your friend.

Shall I send out my Bank acc + Sort code to your main ID? or should I send it to your Sockie?

Norfolk 'n' Chance?

[WordIsBond]

Ignore what the other users have said earlier. Treat me as your friend.

Shall I send out my Bank acc + Sort code to your main ID? or should I send it to your Sockie?

It's my sockie, you can send it to me. I'm sure I'll find some use for the data.