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You should take your own advice and not misguide others.teddybear79 wrote: ↑Sat Mar 19, 2022 5:02 pmSorry to say Sir you are 100% wrong if the money is passed thru the company it is an investment I did it and was granted it. let me explain the logic.
Mr. A puts 10K into the company and MR B takes it out what will the company accounts show
Investment of MR A = 10K as far as MR B taking money is concerned it will be either
against Salary, DL, or Loan that's MR B problem, not MR A as he has invested how MR B has taken it out of company is MR B and HMRC problem MR A investment will be shown in accounts
Please if you are not sure ask someone don't misguide others
Let me understand this correctly.teddybear79 wrote: ↑Wed Mar 23, 2022 7:14 pm
As far in my case, I declared in a covering letter that I overtook a business and old owners to withdraw money against DL and then retired.
Now I suspect most readers will be confused.teddybear79 wrote: ↑Thu Mar 24, 2022 9:47 pmif you put money into a company account how can previous owners take it out? it's now company money, not my or existing owners?
The problem is most of people here do not even understand company is a entity it self and you do not own company assets / cash . company owns it
Would I be right in assuming you first signed a purchase agreement with the old owners which set this mechanism out?teddybear79 wrote: ↑Tue Mar 29, 2022 3:49 pmif you have no accounting/business knowledge please do not advise people on this topic.
read carefully
ABC company was on sale and teddy purchased it for 100K, but teddy could not pay the seller directly as then it would not count as an investment under his T1 visa conditions. so
Teddy invested 100K into ABC company, via share capital, and old owners who had pending DL with the company withdrew the money. this made both teddy and the old owners happy as if teddy would have paid them directly then they would have to pay a hefty capital gain tax.
I hope I am clear?