Director Salary Investment Yes or No

[suvalike]

Hi folks,

I read in the policcy guidence that

‘Spent’ by your business’ excludes spending on all of the following:
1) your own remuneration,

So if we take the pay from the company as a director then it would not include in the investment or spent money.

Please through some light on this matter.

Thanks

[Olasunkanmi]

@ suvalike, that's correct, whatever salary you as the director take from the business will not count as investment funds.

[cancerian]

@ suvalike, that's correct, whatever salary you as the director take from the business will not count as investment funds.

@ olasunkanmi
is it true even if you are applying for extension??? I strongly doubt it? I think its only for initial application pls advice
Thanks

[Olasunkanmi]

@ cancerian, director is the person investing his money and how will you expect the same director to just take salary from the same fund which was meant for investing in the business. Director are suppose to take dividend from profit generated from the investment fund or if they want to take salary that will be entirely separate from the money they wish to invest in the business.

Either initial application or extension, directors are not allowed to take salary from the investment fund.

[Olasunkanmi]

@ cancerian, director is the person investing his money and how will you expect the same director to just take salary from the same fund which was meant for investing in the business. Director are suppose to take dividend from profit generated from the investment fund or if they want to take salary that will be entirely separate from the money they wish to invest in the business.

Either initial application or extension, directors are not allowed to take salary from the investment fund.

[cancerian]

@ Olasunkanmi
Ok thanks for reply. I thought the extension criteria is different.
So does that means that dividends taken by directors can be counted as investment? Because company is paying his directors and comapany as a separate legal entity can pay his directors dividends.