Our company usually distributes dividends but then keeps them in Shareholders Current Account within the company (so basically loaned back to the company for working capital). The dividends are never deposited into our personal bank accounts - as shareholders we deduct our daily/monthly/yearly personal expenses as we go along.
I now need a significant amount of money for personal reasons and need to have it wired into a new bank account - the bank is asking for justification - what kind of letter/document can I issue that shows that this money is actually mine and the company is paying it back to me?
Thanks.
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Its a simple repayment of a directors loan ,it will be in your balance sheet.
I always advise physically transfer the dividend , you can always loan back
and dont intermingle personal expenses with company , its messy and not good practice
Its a simple repayment of a directors loan ,it will be in your balance sheet.
I always advise physically transfer the dividend , you can always loan back
and dont intermingle personal expenses with company , its messy and not good practice
It may be quicker & simpler to go onto Gumtree & get advice from a BBL fraudster. They can get banks to transfer them £billions without any difficulty it seems.
https://www.accountingweb.co.uk/tax/hmrc-policy/bounce-back-loan-scheme-...
A copy of the last company accounts which detail the loans from directors (if you are such) and your name as a director (if you are such) might suffice.
