Since I have a new quickfile account, under a Ltd, I’m trying to add a bank account to it. I transfer money from my business into my personal savings account. And because of that, I need to ‘tag’ the transfers into a correctly assigned bank.
So knowing that, what would it be under?
Are you taking it as a salary or dividends, or is the company lending you (as a director) the money?
I’m the only one in the company as ltd.
I’m not sure what dividends are.
I think I’d be taking it as profit/salary.
With a limited company there are 2 main ways for you to get paid:
You can find out more about dividends here:
You can also read about getting paid as a director in a blog post from our sister company, Company Wizard:
Unless the company is lending you the money, it should be done through one of the above methods rather than a transfer. However, I recommend double check with your accountant just to be sure that it’s recorded correctly, and works in your best interests too.
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