Just wanted to see if anyone could answer this before I went to our accountant.
If we need to borrow £13k from the company, with a view to repaying it back over 5-6 months, can we do this without it affecting our dividends or tax owed?
It is just a loan to enable us to move closer to work. The house rental company requires 6 months upfront and other deposits/fees as we don't earn enough & haven't been in operation long enough to just pay deposit & rent every month as normal. We have enough to cover these costs & then repay it monthly so won't be an issue. Thank you!
If we need to borrow £13k from the company, with a view to repaying it back over 5-6 months, can we do this without it affecting our dividends or tax owed?
It is just a loan to enable us to move closer to work. The house rental company requires 6 months upfront and other deposits/fees as we don't earn enough & haven't been in operation long enough to just pay deposit & rent every month as normal. We have enough to cover these costs & then repay it monthly so won't be an issue. Thank you!
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