I'm sorry but I didn't want to ask information easily available on the web.
The question is not related to drawing money out of the Director's loans.
My question, expressed in a different way, is the following. The 2 directors have a different way of seeing the situation:
- one considers that their participation has increased the company's value, and little money should taken at this time
- the other one considers it is time to draw a salary for the past years when they worked w/o salary.
What would you recommend? Obviously (correct me if I'm wrong), there is no way to receive money for deferred salaries without paying taxes now. The only reason I mentionned to pay in the DLs was to avoid cashflow problems.
Another way is mixed: pay the difference between the differnt salaries due into the DL of the one who is due a higher salary to reduce taxes.
Case 1: 100k and 50k paid to each director in their DL
Case 2: 50 k paid into one DL
Is my question clearer?.