What is a Director’s loan?
It is not uncommon for a director to loan a company money to assist with growth, asset purchases or cash flow matters. But loans into and out of the company accounts to a Director need careful management.
It is not uncommon for a director to loan a company money to assist with growth, asset purchases or cash flow matters. But loans into and out of the company accounts to a Director need careful management.
As a business owner and/or company director, you have certain obligations around the proper collation and retention of company accounting records. Whilst HMRC and Companies House have changed their stance on digital copies compared to paper versions, the requirement to retain copies of key financial documentation remains.