LOANS

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:26AM in AAT student discussion
Just a quick question does anyone know how to put a loan by the owner of a francise limited company that has been taken out to buy the company into the accounts I have been hunting through my books and am now completely confused! The company uses a very simplifyed version of sage. The loan is paid back through the company. :?: Please help :!: :?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:LOANS

    If it's a limited company but the loan is in the directors name then I would put it in as directors loan and the payments should clear it.

    IF it's a sole trader put it as the actual loan and the trader can use the loan interest against tax.

    Annette

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