lutherbeau
Joined: 09 Nov 2012
Posts: 10
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 Posted: Fri Nov 09, 2012 6:34 am Post subject: director loan |
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Hi everyone,
Hopefully just a quick easy answer to all those ITK.
My sister has a limited company and put in £30k as directors loan to get it off the ground. The company hopes to make an operating profit before tax of roughly £50k.
She has a pension so doesnt take a salary as the pension is taxable.My question is does the company pay corporation tax on the £50k (£10k) first and then she can start taking whats owed to her from the remaining £40k.
Or can she start to draw from the £50k and reduce her cp liability ?
sorry if its a dumb question....she has an accountant who she will be seeing nearer the end of the year.
cheers
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insolvency solicitors |
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