I know that it is not legal to issue dividends unless you do so from retained profits.
However I am in a situation currently where I am a little short (~9k or so) from the house deposit and I would rather not sell any shares to get there (as they were bought at attractive prices during the dips).
I am planning to issue dividends this month after which there will be cash left in the company account (which is last years corp tax + VAT). Can I loan myself the 9k? I am still in contract so the shortfall would be accummulated back within a month or so. There would be no issue with paying VAT or corp tax later down the line.
However I am in a situation currently where I am a little short (~9k or so) from the house deposit and I would rather not sell any shares to get there (as they were bought at attractive prices during the dips).
I am planning to issue dividends this month after which there will be cash left in the company account (which is last years corp tax + VAT). Can I loan myself the 9k? I am still in contract so the shortfall would be accummulated back within a month or so. There would be no issue with paying VAT or corp tax later down the line.
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