Reply to: Shareholder to withdraw more dividends

[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.

[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?

[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?

[FatLazyContractor]

Hi SockieUK

[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.

[NotAllThere]

[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?

[JB3000]

Looks like a sockie

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

[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

[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.

[stek]

Dewey, Cheatem & Howe

Wier, Norfolk & Goode.....

[SimonMac]

All fur coat and no knickers.

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

[northernladuk]

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

All fur coat and no knickers.

[SimonMac]

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

Its a sad state of affairs when RH (who has been AWOL for years) is still not the worse mod!

[eek]

No, he didn't.

Off to General with you.

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