I know that in the majority of cases it is a big no no for a director to invoice his own company. However, I have a sole director/shareholder who has written a screenplay (prior to the company forming) and is writing a new one which he would like to sell to the company. I am thinking that this is essentially a director selling an asset to the company which is allowed. And writing a screenplay is not something you would expect a director to do as part of his normal director duties so it will be ok ongoing if he writes more. So there are no PAYE tax implications. There is a contract in place between the director and company for the sale. Any thoughts??
And from the director's point of view, will he be liable for CGT for this??