Happy Friday AccountingWeb,
I have an accountant but he says I can't do something, and I just wanted to get a second opinion from all of you.
I'm director of limited company and also work full time for a firm ( PAYE and all that stuff). I want to my pay myself the max limited director salary of 8,632. I've withdrawn some of this already from business bank account can I withdraw the rest as a lump sum? He is saying I can't he says because of Employment allowance ( but I've read this has nothing to do with it as I can't claim this anyway as I'm a one director company). So I don't know what hes on about, I've told him this and haven't received a reply ( 4 days ago).
But from my understandings I can and the process would go like this - I will just withdrawal the salary as a lump, then put that amount as expense on my company accounts and the salary figure on my self assessment with the rest of my PAYE full time job.
So I don't understand why he said its not possible? Thank you for reading!