Can anyone advise if I can/should pay a small amount of cash (£500) into my ltd co account (and how the accountants handle this) - I need some funds before my first invoice is paid to start paying out a few business expenses from the ltd co which I cannot do as a personal claim.
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Originally posted by reginaldCan anyone advise if I can/should pay a small amount of cash (£500) into my ltd co account (and how the accountants handle this) - I need some funds before my first invoice is paid to start paying out a few business expenses from the ltd co which I cannot do as a personal claim. -
Any funds injected by you will be credited to your directors' account and this can be withdrawn in the future wirth no tax implications.
AlanComment
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Originally posted by mictechYou create a directors loan to the company. You can charge the company a reasonable amount of interest again the money you put in and take it out all tax free when you have some money in the company.
Interest paid to you by your company on fund that you have lent it, is taxable on exactly the same basis as interest paid to you by the Building Society on funds that you have lent them.
timComment
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