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invalidity pension and Compsny revenue

margaretdublin · 2021-11-14 12:01:24

I have recently been diagnozed with a long term illness and my doctor has advised I go on Invalidity pension. I have a limited company with 100% shareholding and pay family memebers who work in the business. Can I claim Invalidity Pension leaving the comany set up as ot is. If there is profit left over after paying family…

14-11-2021 12:01pm

#1

margaretdublin

Registered Users, Registered Users 2 Posts: 54 ✭✭

Join Date: February 2013

Posts: 44

I have recently been diagnozed with a long term illness and my doctor has advised I go on Invalidity pension. I have a limited company with 100% shareholding and pay family memebers who work in the business.
Can I claim Invalidity Pension leaving the comany set up as ot is. If there is profit left over after paying family member who work there can I leave that in the business taxed at corporation tax rate and save that for the future? I knw I will be taxed again on it if I was to withdraw that money.
I've spoken to my accountant he has said the above is ok I'm just looking for others opinion and if there was a way to keep the company going but still get Invalidity Pension. I wont be working there due to the nature of the diagnsis

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