The Best Approach to Invest Your Company Money?

A tribunal recently considered a case relating to tax consequences of a director investing company money in his personal bank account. The judgement was nt in favour of the company director. But does this mean that it is something illegal?

If you are looking for the best place to invest your company’s cash you may come across many different schemes. And you may consider depositing company cash into your personal bank account in order to make the investment. But the opinion of HMRC on this is not a favourable one.

Eventhough the HMRC doesn’t like it there’s nothing to stop a director holding money in their own name on trust for their company. However, this must be arranged in the right way because if you get it wrong HMRC will punish you and your company severely.

To discuss the options available, contact one of our tax advisors. KVS Accountants acts as tax advisors in London, Chelsea, Earls Court, Kensington, Richmond, Hammersmith, Wimbledon and Chiswick

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