Getting a bonus/dividend through work, paid into my own Ltd. company?

paddyrg

robatwork wrote: »

Was your advisor an accountant/IFA or as said, man in pub?

BTW there's a reason people are asking this - if it was someone you paid for the advice, you should almost certainly get your money back and get them to cover the costs of shutting down your limited company, and they should bite your hand off as one of the alternatives is such bad news (tax fraud investigation for them and all their clients - much like Christopher Lunn).

somethingcorporate

I'd take it up with whoever gave you the advice to set up the company in the first place.

Birchwood

Thanks for all the advice folks.

Statements like...

"It's tax evasion (i.e. illegal) to artificially reclassify income derived from employment as something else just to avoid tax/nic - as is clearly the case here!"

...and...

"This sounds so close to tax evasion as to be not worth a potential visit from Mr Plod. "

...pretty much confirm what I thought - that it might be a 'grey' area.

I've not got a problem with paying the tax that's necessary, such is life. If the advice I'd been given was good, that would have been fine. However it sounds a little dubious.

Thanks everyone!