S
shell990
Guest
I acquired nearly £30,000 as a divorce settlement. I then used this to buy a retail business as a going concern. I have formed a Limited Company, and believe the money I have put into the company (ie to buy the business) is classed as a loan made to the business.
Can I, instead of taking a wage and paying Tax and NI, take a weekly amount as repayment of my loan?
If this is the case ....
I have already registered as an employer but I will be submitting continuous nil returns. Should I notify my HMRC Accounts Office of what I am doing?
Many thanks in advance,
Michelle
Can I, instead of taking a wage and paying Tax and NI, take a weekly amount as repayment of my loan?
If this is the case ....
I have already registered as an employer but I will be submitting continuous nil returns. Should I notify my HMRC Accounts Office of what I am doing?
Many thanks in advance,
Michelle