Hi,
My current accountant is currently in the process of gifting shares to my wife and making her a director, as per my request. My company was formed in July and they never suggested this approach, but when I raised it as a potential issue (loss of revenue do to tax inefficiency), they said that they can issue her payroll going back to July and splitting past dividend accordingly.
I am not knowledgable in UK tax laws but that sounded to me risky, to say the least.
I am in the process of looking for a new accountant as the current firm provides an underwhelming service, and have been speaking to a couple of really great people. When the split came up one of them felt really uneasy about this, said that you can't backdate the date of appointment and pay salary retrospectively (which makes sense).
Has anyone been in a similar situation?
My current accountant is currently in the process of gifting shares to my wife and making her a director, as per my request. My company was formed in July and they never suggested this approach, but when I raised it as a potential issue (loss of revenue do to tax inefficiency), they said that they can issue her payroll going back to July and splitting past dividend accordingly.
I am not knowledgable in UK tax laws but that sounded to me risky, to say the least.
I am in the process of looking for a new accountant as the current firm provides an underwhelming service, and have been speaking to a couple of really great people. When the split came up one of them felt really uneasy about this, said that you can't backdate the date of appointment and pay salary retrospectively (which makes sense).
Has anyone been in a similar situation?
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