Does transfer of money from a biz bank account to a personal account incurr a tax event? Or rather...

Status
Not open for further replies.

AdvancedGene8320

New Member
Aug 5, 2021
17
0
161
Does a simple act of transfering money from my biz bank account to my personal account incurr a tax event? Or is it rather transfer AND spend it AND/OR never, at least during a 1-1.5 year, transfer it back to my biz account?
 
The question is not very clear but it depends on how you account it for and the country or countries of these operations
 
UK Ltd

Simply speaking: if I send money from Transferwise business or my proper business bank account of my UK Ltd, to my personal bank, will this alone trigger a taxable event?

And what if I sent back the same amount from my personal account to my business account within, say, 1-2 weeks? 1 month? 2-3 months? There would be no taxable event any longer?
 
Status
Not open for further replies.

JohnnyDoe.is is an uncensored discussion forum
focused on free speech,
independent thinking, and controversial ideas.
Everyone is responsible for their own words.

Quick Navigation

User Menu