Extracting funds of Company without tax implications

garysharpe

Hi All,

6 years ago I set up a Limited Company with loads of cash (about 250000 euro) as I wanted to avail tax advantages. I own 100% of shares of the Company. Now I need the money in my own pocket for personal issues. Can I sell the shares to my Company so I can receive the 250000 euro tax free as no personal gain on the operation? Is that possible or need a special audit on the Company or difficult procedure?

Many thanks,

Gary

Alan_007_

Hi Gary,

As we're talking about a substantial sum of money, this is a conversation that would be best had with the company's accountant in the first instance as any advice you'd find for free online shouldn't be relied upon.

fritzelly

Did you not get the answer you were wanting to get in the other thread while ignoring everyone telling you you can't do it.

Mr Disco

pay your taxes Gary….

Jim_Hodge

I refer you to the more specialised taxation forum and the answer to your own question…

Can I sale the shares to my Limited Company at same price I put it in? — boards.ie - Now Ye're Talkin'