stevio
Member of DD Central
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Post by stevio on Sept 12, 2017 4:06:55 GMT
As a Director of a Close Company, you could make a loan to your own company, but the funds would then becone part of the company assets (with a corresponding liability to you). Life gets complicated if you try to pay yourself interest on such a loan so best keep it interest free. However, if you have borrowed the money in your personal capacity specifically to lend it to the company then you can offset interest you are paying on it against your other personal income. All this needs careful documentation, however, and the funds would have to be moved into the company bank account. Consult your Accountant first. What is the tax legislation that allows relief for funds borrowed to loan to Company?
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Post by wiseclerk on Sept 12, 2017 6:18:21 GMT
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SteveT
Member of DD Central
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Post by SteveT on Sept 12, 2017 6:19:51 GMT
What is the tax legislation that allows relief for funds borrowed to loan to Company? Try SAIM10210 for starters.
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TitoPuente
Member of DD Central
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Post by TitoPuente on Sept 16, 2017 9:41:09 GMT
I am looking for HMRC CT filing software able to handle IFRS 9. Any recommendation would be much appreciated.
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