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Cash flow problem, can I use personal funds
Hi, we have a ltd company and have a very small cashflow issue to meet our corporation tax/salary for staff due in a couple of weeks. It’s only a few thousand. We won’t have any issues in the future months. Can I as the shareholder director, transfer funds from my personal account (so directors loan) to the business bank account and return the exact amount in 2 weeks time? we do have the funds but it is invested (corporate investment) and would take a couple of weeks to liquidate.
Comments
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Check with your accountant? But whyever not?Signature removed for peace of mind1
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Yes, businesses can make loans to directors and the reverse can also happen. I'd send an email to your accountant to let them know what you're doing and how much is involved. Keep the transfer paperwork to be safe.
May you find your sister soon Helli.
Sleep well.1
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