Re: Moving company bank money around...

Tim wrote:
"Peter Saxton" wrote
The profit isn't owed to the shareholders. A dividend has to
be declared before the shareholders are entitled to the money.
"Tim" wrote:
If that's the case, then who do you think gets the
money in the case of winding-up the company?

"Simon" wrote
Its shareholders by way of a dividend. ...

Surely the residual value can be taken as capital, and CGT paid instead?


Nope, its the transfer of an asset and thats how it would be taxable.
.

Relevant Pages

  • Re: Moving company bank money around...
    ... be declared before the shareholders are entitled to the money. ... it's a similar "transfer of asset". ... Of course tax may be due - but that doesn't affect who owned it. ...
    (uk.business.accountancy)
  • Re: Moving company bank money around...
    ... be declared before the shareholders are entitled to the money. ... it's a similar "transfer of asset". ... This is recorded as misappropriations and the director is likely to be expected to fund this if the company has insufficient funds. ...
    (uk.business.accountancy)
  • Re: Moving company bank money around...
    ... be declared before the shareholders are entitled to the money. ... If you count the cash as "an asset", ... it's a similar "transfer of asset". ...
    (uk.business.accountancy)
  • Re: Moving company bank money around...
    ... be declared before the shareholders are entitled to the money. ... If you count the cash as "an asset", ... it's a similar "transfer of asset". ...
    (uk.business.accountancy)
  • Re: Moving company bank money around...
    ... be declared before the shareholders are entitled to the money. ... money in the case of winding-up the company? ... it's the *process* by which it is paid. ...
    (uk.business.accountancy)