Need to clarify director pay from financial accounts (small Ltd company)
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earlycomputers
Posts: 31 Forumite
Can someone clarify how much this director personally earned for this year? On the financial statement for his small limited company it says (in column format); `Advances/credits to the director'=£72654 then next to this `Amounts repaid'= (£92883) then next to this `Balance outstanding'=(£20234). Then there is a section called `Related party transactions' where it states that the company purchased an annuity contract from this director for £150,000 two years previously and that the company will receive an annual payment of £480 for his lifetime. It also states he got £89500 dividends. What can one tell from this about what this director earns? How much tax would he have to pay on the dividends? Would any of his expenses/pensions etc have to be declared on his tax return also? many thanks
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Comments
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There's no way of knowing how much pay/wages he's taken from that information. It's just not shown in the abridged/abbreviated accounts filed at Companies House. You'd need full management accounts for that level of detail which aren't publicly available.0
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Why do you need to clarify director pay? Is it something more than idle curiosity?0
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