Brendan Burgess
Founder
- Messages
- 53,618
I would say that it is common, but it's a very dangerous practice for all the reasons which Tommy pointed out.
If you make a once off payment, you will probably treat it ok. But if you pay an expense out of your company, and you don't account for it correctly, by accident, you would be very vulnerable if you have a revenue audit.
It's best to understand clearly the difference between a company and its directors and to manage their affairs separately.
If you make a once off payment, you will probably treat it ok. But if you pay an expense out of your company, and you don't account for it correctly, by accident, you would be very vulnerable if you have a revenue audit.
It's best to understand clearly the difference between a company and its directors and to manage their affairs separately.