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£50K Interest Free Loan for 12 Months

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    Originally posted by andydd68 View Post
    Well..surely its subject to usual ltd/hmrc rules now its in your account..my understanding is that it cant be used for dividends ?
    It's yours to do with as you see fit for your company. If you have the retained profits but lack the cash then, yes, you could use it for a dividend.
    Click here to come to the CUK Xmas do on 10 Dec! Meet your board heroes!

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      Odd computer still says no to me for Barclays. I wonder if they see money still coming in and auto refuse an application as my co has not been adversely affected
      Make Mercia Great Again!

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        Originally posted by BlueSharp View Post
        Odd computer still says no to me for Barclays. I wonder if they see money still coming in and auto refuse an application as my co has not been adversely affected
        I doubt it, but has it been adversely affected?

        I assume you don't have an odd SIC code or weird set-up.

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          Originally posted by BlueSharp View Post
          Odd computer still says no to me for Barclays. I wonder if they see money still coming in and auto refuse an application as my co has not been adversely affected
          I seriously doubt thats the case. Whether or not you're adversely affected is a self-assessment. The banks have no responsibility to verify this so I don't see why they would.

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            Originally posted by ladymuck View Post
            It's yours to do with as you see fit for your company. If you have the retained profits but lack the cash then, yes, you could use it for a dividend.
            I'm bringing mine to the CUK Christmas Meet - double or nothing.

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              Originally posted by vwdan View Post
              I'm bringing mine to the CUK Christmas Meet - double or nothing.
              Let's hope Tarbs doesn't get wind of that... you'll definitely end up with nothing
              Click here to come to the CUK Xmas do on 10 Dec! Meet your board heroes!

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                Originally posted by ladymuck View Post
                Let's hope Tarbs doesn't get wind of that... you'll definitely end up with nothing
                Double or nothing you say ???

                I’m in



                Sent from my iPhone using Contractor UK Forum

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                  I'm just looking at doing this as I'll be benched from Monday due to my project being shelved because of Covid.

                  I'm wondering who I should apply to seeing as I have CA (Santander) business account and a Halifax (HBOS) personal account.

                  I'd have thought Satander was the way to go but their website and chatbot is telling me:

                  You can apply for a Bounce Back Loan if you only have a Santander personal current account that you use for your business. You’ll need to provide a copy of your full 2018/19 self-assessment tax return, and additional information.
                  Surely they will want to see annual accounts for the company as it's a business loan to my company?

                  They're not going to see my turnover from my personal tax return... I might talk to CA and see what they say - unless anyone else has already?

                  *EDIT* Spoke to CA and there is no link between Santander and CA for this.
                  Last edited by Jog On; 14 May 2020, 10:27.
                  Whatever...

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                    Long time, lurker here.

                    I applied to HSBC where I have my business account last Thursday. Didn't have to submit much info just last year's turnover. Money arrived in my business account yesterday. Easiest bit of finance that I've ever applied for.

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                      Originally posted by plutocrat View Post
                      Long time, lurker here.

                      I applied to HSBC where I have my business account last Thursday. Didn't have to submit much info just last year's turnover. Money arrived in my business account yesterday. Easiest bit of finance that I've ever applied for.
                      Same with me. Applied for 40 large ones last night and got the money into my account this morning via Santander. Incredibly easy. £600 for 3 mins work.

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