Getting MyCo loan before Accountant accounts for it.

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gingerjedi replied

5 June 2008, 11:47
Originally posted by Churchill View Post

Surely in this instance, if you're taking a loan from your company you could instead be paying yourself a salary...

Not if it’s the tax mans money and he wants it come December.

Am I doing something wrong if my company hasn’t paid its employee minimum wage for 4 months?
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Churchill replied

5 June 2008, 11:01
Originally posted by gingerjedi View Post

When they've been benched for 4 months and spent the 'fighting fund'.

It’s significantly cheaper than going overdrawn.

Surely in this instance, if you're taking a loan from your company you could instead be paying yourself a salary...
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gingerjedi replied

5 June 2008, 10:25
Originally posted by DimPrawn View Post

with interest.

Why do contractors need loans?

When they've been benched for 4 months and spent the 'fighting fund'.

It’s significantly cheaper than going overdrawn.
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Likely replied

5 June 2008, 10:20
Originally posted by DimPrawn View Post

with interest.

Why do contractors need loans?

When they want 2.5 Litre cars.
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DimPrawn replied

5 June 2008, 09:40
with interest.

Why do contractors need loans?
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blacjac replied

5 June 2008, 09:36
How?

It's a loan, you have to pay it back......
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SandyDown replied

4 June 2008, 18:28
errrr.. I have what is called director's loan quite often... you don't have to declare all your dividends as dividends, some can be put through as loans, this helps if you are avoiding the dividends threshold.
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Troll replied

4 June 2008, 17:28
Originally posted by Likely View Post

Can I withdraw small loan from Myco - 3K GBP - right away and have the accountant sort the accounts out later - next few days ?

yes... next
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Likely started a topic Getting MyCo loan before Accountant accounts for it.

4 June 2008, 17:23
Getting MyCo loan before Accountant accounts for it.

Can I withdraw small loan from Myco - 3K GBP - right away and have the accountant sort the accounts out later - next few days ?
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