H&W company

H&W company

Didn't find your answer?

A small company owned 50:50 by H&W paid dividends into H account, who then passed money at various dates in various forms to W, who has no other income.
Is there a problem?

Many thanks for your valued views.

Replies (3)

Please login or register to join the discussion.

By johngroganjga
28th Feb 2015 08:29

Not one to worry about unless you are in the midst of an HMRC enquiry examining the genuineness of the wife's shareholding.

Thanks (1)
Out of my mind
By runningmate
28th Feb 2015 09:22

Why not . . .

Why not advise H & W to open a personal bank account in joint names.  Have the company dividends paid into the joint bank account from which they both can draw.

RM

Thanks (1)
avatar
By girlofwight
28th Feb 2015 17:34

Strictly is not a problem, buts it's not best practice.

Get them on the straight and narrow for future. Separate transfers for H&W in proportion to shareholdings, ideally separate, or joint, bank account.

Thanks (1)