Folks.
planning to call it a day on my limited company and following MVL route.
however, my IP is asking for funds to be transferred to her business account.
Company has no liabilities pending, and disbursements are to director herself mainly.
so question - it is a standard practice to transfer entire funds to IP and then get appropriate amount back?
I hope someone can provide genuine information to help me decide whether to transfer or not.
thanks.
planning to call it a day on my limited company and following MVL route.
however, my IP is asking for funds to be transferred to her business account.
Company has no liabilities pending, and disbursements are to director herself mainly.
so question - it is a standard practice to transfer entire funds to IP and then get appropriate amount back?
I hope someone can provide genuine information to help me decide whether to transfer or not.
thanks.
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