My new limited company hasn't yet invoiced its client; my business banking account has no balance yet. However, the company needs to pay the monthly insurance fees etc. as standing order from this business bank account.
Can I, the director, lend the money to the company by simple online transfer from my personal account to business account? Do I need to document/record this transfer as loan payable etc.? Does this documentation have to be in any specific format? As soon as the company is in the funds, I will take the loan back (at no interest, of course).
Can I, the director, lend the money to the company by simple online transfer from my personal account to business account? Do I need to document/record this transfer as loan payable etc.? Does this documentation have to be in any specific format? As soon as the company is in the funds, I will take the loan back (at no interest, of course).
Comment