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Post Info TOPIC: Director invoicing LTD company
fabs79


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Director invoicing LTD company
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Hi,

this is a topic I have been researching for a while and I have seen some very different opinions.

A director is paid a salary by a LTD company for his director duties. However the director is also a self-employed accountant (he has got his own accounting practice) and does the payroll, bookkeeping and accounting for the LTD. Can he invoice the LTD for his accounting services like any other external accountant would do?  Or is there anything that prevents that?

I believe that he should be entitled to invoice the company for any service that is unrelated to his director duties or to the services provided by the LTD company to its clients.

I haven't found any definitive answer so far, so it would be interesting to know what other people think.

Any opinion is greatly appreciated.

Thanks.

Fabs



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Andy_L75


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I would think this is ok, as long as you put a related party note in the accounts

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Alfred


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The Ltd company is a legal entity in itself and separate from the director, if the director's role is just to provide advice and look after certain aspects of the business except the financial side and this has been shown in an employment contract and salary accordingly fit for that role then it should be fine for him to bill the company as the accounting duties are extra that have not been paid already.

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www.Balcom.co.uk
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Alfred


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Oh and this should all be properly documented with invoices etc to show the position if any questions are asked

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www.Balcom.co.uk
info@balcom.co.uk
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