What are you asking that hasn't already been answered?
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Commercial Loans
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Originally posted by Alan @ BroomeAffinity View PostWhat are you asking that hasn't already been answered?Comment
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No problem. Hopefully somebody else who also knows what they're talking about will come along and tell you exactly the same soon.Comment
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Originally posted by SandyD View PostAlan you have answered and that should be suffice for you. You can move on now and not read this thread any further if it really annoys you.
Jeez.Comment
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Originally posted by Alan @ BroomeAffinity View PostNo problem. Hopefully somebody else who also knows what they're talking about will come along and tell you exactly the same soon.Comment
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Originally posted by WordIsBond View PostWhat are the odds a moderator closes this thread first?…Maybe we ain’t that young anymoreComment
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Originally posted by WTFH View PostBut Sandy hasn't got the answer s/he is looking for yet.Comment
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Originally posted by WTFH View PostBut Sandy hasn't got the answer s/he is looking for yet.Comment
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In fact WordIsBond, you gave me exactly the answer I am looking for
Originally posted by WordIsBond View Post.
If you want to know how to enter this loan on your sole trader business balance sheet, you can enter it as a liability if you want. It isn't income for your sole trader business. You can write an IOU, or not. You can keep it in a safe or whatever. Nobody cares what you do there.
Originally posted by WordIsBond View Post.If you want to know how to reflect it on your ltd co accounts, it is a directors loan,Comment
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Originally posted by SandyD View Post
i.e. most likely as a sole trader the business loan wont be considered as a BIK, or be taxed on it as an income ( of course this is not certain)
I hope you're trolling at this point.Comment
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