For plan B business bank account is it possible to inject personal account money into

[NimbleJackAccounting]

Yes

As everyone else has mentioned you can using a Directors Loan, however if it is over £5,000 at year end you will face a fine of 25% !!

[IR35FanClub]

One last point.. in your fictional VAT example you would be effectively trading illegally as you do not have enough cash in the company to pay your creditors (HMRC) and they dont take kindly to people running companies who cant work out what they are owed. I did a stint at the insolvency service and they have a team dedicated to working out whether the directors were negligent or fraudulent. the first gets you struck off from becoming a director again, the second gets you a criminal conviction. And HMRC have no bones about applying for a liquidation if they suspect you have not run your accounts properly. They also come at the top of the list of creditros (unless you are planning to start a football club). You shuld have a (IT) system which tracks the VAT owed on sales and you can keep it in a separate reserve account if necessary until its due to be paid.

[IR35FanClub]

As everyone else has mentioned you can using a Directors Loan, however if it is over £5,000 at year end you will face a fine of 25% !!

Are you sure your an accountant?
a) its not a fine, its a tax charge payabe to HMRC in case you dont pay the loan back.
b) its not at year end, its 9 months after the year end you took the loan out
c) you can claim the "fine" back 9 months after the year end you in which repay the loan
d) its irrelevant in this thread as the OP wa talking about sticking £100k into the company, not taking it out.

There.. youve had the kicking NLUK requested

[sbakoola]

thanks for the info, learning new things. I used my old limited for IT contracting in the typical boring way i.e. money in, pay PAYE, Corp Tax, VAT and money out as dividends and wages, with a few claims for items over £2k due to being on the flat rate VAT scheme.

[Wanderer]

Interesting... I suppose the initial amount that you put into the business bank account at incorporation is important (as this is not considered as a loan right ?) and this initial amount is related to the shares that you initially draw up ? (am I right or wrong ?)

Yes, it is important.

This is your liability to the company. If you have one share worth £1 then if it all goes tits up, you are liable for £1. If you issue 100,000 shares at £1 each then your liability to the company (and potentially it's creditors) is £100,000.

I would suggest that you just issue one share at £1 each and then loan money to the company via director's loan.

It's now time to have a talk to a proper accountant to make sure you set this up properly.

[Scrag Meister]

Err... that's what a director's loan is actually for.

This.

[Contreras]

As everyone else has mentioned you can using a Directors Loan, however if it is over £5,000 at year end you will face a fine of 25% !!

What they said - get an accountant.

[b0redom]

As everyone else has mentioned you can using a Directors Loan, however if it is over £5,000 at year end you will face a fine of 25% !!

I'm glad you're not my accountant! For all the reasons IR35FanClub mentioned.

[northernladuk]

As everyone else has mentioned you can using a Directors Loan, however if it is over £5,000 at year end you will face a fine of 25% !!

Have you read the newbie guides -->
Have you done a search?
Speak to your accountant...

Have I missed anything?

[Taita]

Are you sure your an accountant?
a) its not a fine, its a tax charge payabe to HMRC in case you dont pay the loan back.
b) its not at year end, its 9 months after the year end you took the loan out
c) you can claim the "fine" back 9 months after the year end you in which repay the loan
d) its irrelevant in this thread as the OP wa talking about sticking £100k into the company, not taking it out.

There.. youve had the kicking NLUK requested

Well Kicked! I believe it is illegal to claim to be accountant, lawyer or doctor unless you have recognised professional qualifications. This guy Nimble does appear to know which way is up!