Hello,
Sorry I am completely new to this and after a quick answer, dont judge if my questions are stupid haha.
My client was in a partnership up to a couple of months ago, he has decided to open up a limited company.
The money which is in his partnership business bank account - can he withdraw this and put it straight into his new limited company as a directors loan?
Will he pay tax on the money from withdrawing it from the partnership?
I suppose how does he stand and what is the best option for my client?
Thank you
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I'm adding nothing to the thread. How could I? Yours is the complete answer. I just wanted to congratulate you on it.