director loan question in new business
Discussion
hello there
im starting a new business which will be a ltd company with 28k of my own money.
Am i right in saying the 28k can be put down as a directors loan into the company and if i draw out against this then there will be no tax implications?
also how long can the loan last for?
cheers
im starting a new business which will be a ltd company with 28k of my own money.
Am i right in saying the 28k can be put down as a directors loan into the company and if i draw out against this then there will be no tax implications?
also how long can the loan last for?
cheers
PurpleMoonlight said:
You will need to explain how you are structuring these.
Are you buying the Ltd shares of the existing business?
If not, are you establishing a new Ltd which will then be purchasing the trade and assets from the extsting business?
If so, is the money you are putting into your Ltd purchasing shares or deemed a loan?
HiAre you buying the Ltd shares of the existing business?
If not, are you establishing a new Ltd which will then be purchasing the trade and assets from the extsting business?
If so, is the money you are putting into your Ltd purchasing shares or deemed a loan?
buying an existing sole trader business and creating a new ltd company.
23k is for the purchase or the lease (2k towards equipment)
5k for sols fees and operating cash
i will be only director and i think shares will be set at £100 total
Gassing Station | Business | Top of Page | What's New | My Stuff