Thinking about going "limited", need advice...

Simon Earl · 2006-01-29T18:11:02+00:00

Hi, I'm thinking about going down the Ltd Co route for a new busienss venture. The reason is partly for protection, but more importantly for tax reasons. I am told that one can take income from the company in the form of "dividends". Could anyone here explain the basis of this method please? Also, if the company receives a holding deposit on behalf of a customer/tenant/client and provided there are no legal contraints in place, is it possible to then take that deposit from the limited company (as a director) and hold it personally, until the company requires it, without paying tax on that transaction? Finally, what sort of accountancy fees could one expect for a Ltd Co with under £100k p/a turnover, one director + secretary but no PAYE scheme (income taken purely in div's). TIA for any help.

Jan 29, 2006 40 Replies

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Simon Earl 20 years ago

Thanks for the helpful advice I received re the above.

Another question; say the company paid an annual lump sum to genuine registered charities, what is the tax position in respect of said payments?

TIA

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Thinking about going "limited", need advice...

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