EIS company paying out new funds as salary

The question is pretty much in the tittle.

I thought initially this would be a problem. New co. recently received £90,000 in exchange for some EIS shares which we have EIS certificates for.

It then uses about £20,000 of this to pay out various salaries (including to directors). We have satisfied ourselves that the salary is commensurate with time input and for the benefit of the trade.

I can't see in the HMRC manuals or leg that there is a problem with any claw-back or am I missing something?

 

 

 

 

Comments
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David

tonycourt |

thank you tony

david_curtis |