FINANCE UPDATES – October 2020 – How to Extract Profits From Your Company
If you run your own limited company, you choose how much to
pay yourself, pick your own payday, and how you will be paid.
With more people working for themselves, that may sound
appealing. But the reality is the money you work so hard to
make goes into the business bank account, not your own.
Should you take money out of the business account inefficiently
you may pay more tax than necessary, and if you take money
out in the wrong way, you might be on the wrong side of some
expensive tax penalties.
FINANCIAL UPDATES – How to Extract Profits From Your Company