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Such activities are surprisingly common within a business elite used
10th December 2009, Page 29
10th December 2009
Page 29
Page 29, 10th December 2009
— Such activities are surprisingly common within a business elite used
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to having a grand lifestyle and that has largely not experienced a serious downturn.
Iwww.hmrc.ciov.uk www.herr,gov.uk
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After all, as long as profits are rolling in and the directors own the company, there is arguably no problem in a director repaying what is owed to the company by declaring dividends or taking extra remuneration equal to personal payments made through the firm.
However, in many cases, profits are no longer rolling in. The change has happened very quickly and directors have not had time to adjust their lifestyles.
All directors must take a long, hard look at how they separate what is theirs from what belongs to the company, tir