transferring money from personal to business account

googleit · Post by **googleit** » Wed Sep 18, 2013 10:53 pm

Hi

After getting visa when we transfer 50k funds from our personal accout to business account is this investment a director loan investment ? If so do we need an agreement with our company ?

haider.syed · Post by **haider.syed** » Sun Oct 06, 2013 9:28 am

Accountant.

If need one do let me know

KickAss · Post by **KickAss** » Sun Oct 06, 2013 11:13 am

haider.syed wrote:Accountant.

If need one do let me know

DONT DO THIS !
ANSWER THE QUESTION OR KEEP QUITE !
YOU ARE USING THIS FORUM FOR PERSONAL OR SOMEONE ELSE PROMOTION WHICH IS NOT ALLOWED.

KickAss · Post by **KickAss** » Sun Oct 06, 2013 11:23 am

googleit wrote:Hi

After getting visa when we transfer 50k funds from our personal accout to business account is this investment a director loan investment ? If so do we need an agreement with our company ?

That 50 K that you have shown is the money to be invested in the business. As soon as you transfer that money in the business account, that money is the loan to the company's director to achieve business goals. This money will than be used by the company to make profit and once company is in a position to return this money by making profit, you will get this money back. This way company will pay back its loan. You can have an agreement if you want which will state the terms and conditions of return plus interests and timelines etc. This can be discussed in detail with your accountant.
AND
You certainly DON'T have to get an accountant from this forum if someone is promoting them. I always advice individuals to get an accountant from a good umbrella/ limited service providing companies. coz if the accountant screws it up then company will be responsible to fix it and if something happens to the accountant the it will be company's head-ace to get you a replacement without affecting your services.
For best company please use Google and pick the best on reviews.

therock · Post by **therock** » Sun Oct 06, 2013 11:14 pm

KickAss... What can I say, I just like the way you answer a spammer!! Good job mate.

smartmind101 · Post by **smartmind101** » Mon Oct 07, 2013 12:06 am

i second that...kickass rockssssssssss

Asefchdry · Post by **Asefchdry** » Mon Oct 07, 2013 7:15 am

@Kick mule, you always a source of info.. please extend your info to this query as well.. is that rule (director loan) applies for 200 k as well ?..

we have a account in pak and investment money is in personal joint account here.. as what I perceives we first transfer the available money into our personal account in uk.. then to company account and becomes director loan

please share your comments.

KickAss · Post by **KickAss** » Tue Oct 08, 2013 1:34 am

Asefchdry wrote:@Kick mule, you always a source of info.. please extend your info to this query as well.. is that rule (director loan) applies for 200 k as well ?..

we have a account in pak and investment money is in personal joint account here.. as what I perceives we first transfer the available money into our personal account in uk.. then to company account and becomes director loan

please share your comments.

Yes is the answer. It applies to any fair business in the world I guess.
As soon as you tx any kind of money from your account to company's account, its a loan to the company and company has to pay back. similarly the other way round, if you are taking out any amount of money from company to your account than its a loan provided by the company (Not advisable as Tax man can raise concerns as it involves many complications).

I am just a software architect by profession and have acquired this knowledge by Google+This Forum and common sense.

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transferring money from personal to business account

transferring money from personal to business account

Re: transferring money from personal to business account

yup..