We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
I have 80K and I'm young , what to do ?
Comments
-
well i have a business bank account in my name im the full shareholder of my ltd company .my accountant set it up for me . i hope that you guys understand
Ok that makes sense. However you can't really use this money for much as it is your companies money not yours (yet). Just because its in your name doesn't make it yours. As soon as you take money out of it for your own purposes then you will owe income tax, national insurance and/or dividend tax. You say that you have already paid some tax on it - I assume thats corporation tax. You can invest this money within the business but its more complex and you will pay tax on any profits it makes. Talk to your accountant about it.
First you need to get the money legally out of the business to do much with it0 -
Too many half terms these days0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards