• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

transferring company loan to another company

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    transferring company loan to another company

    I had to give myself a very large loan from the company this year, but I intend to close the company and I can't pay back the full loan, can one transfer loan to a new company?

    #2
    Another company could loan you money which you then use to repay your current company, allowing you to close it.

    It's the same effect as transferring the loan to another company.
    ContractorUK Best Forum Adviser 2013

    Comment


      #3
      Just playing devils advocate here but you do understand the responsibilities of giving yourself this loan (Tax and BIK), the implications of not paying back in time (fines, interest) and the fall out for not handling it properly and trying to dupe HMRC?

      You appear to be in a situation that could quite easily spiral well out of control if you don't do everything by the book and be totally transparent.
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment

      Working...
      X