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Can I borrow money from my limited company?

Are you a director wondering if you can borrow money from your limited company? In this video, we explain everything you need to know about directors’ loans, including why you would use them, how to record money that you borrow from or lend to your company, and the potential tax implications of doing so. Chapters: 0:00 Intro 0:53 What exactly is a director’s loan? 4:26 The tax implications of directors’ loans – where you borrow money from the company 5:12 What happens if you repay the loan within 9 months of the end of the accounting period 7:27 What transpires when you do not repay the loan within 9 months of the end of the accounting period 8:12 Be aware of what is known as ‘bed and breakfasting’ 10:45 Tax on directors’ loans – when you lend money to your company 12:04 Does a director’s loan require shareholder approval? 13:28 Should I borrow money from my limited company? Website: https://www.1stformations.co.uk/ Blog: https://www.1stformations.co.uk/blog/ Facebook:   / 1stformations   Instagram:   / 1stformationsofficial   LinkedIn:   / 1st-formations   Twitter:   / 1stformations   #1stFormations #smallbusiness #smallbusinesses #businessadvice #directorsloan #directorsloanaccount #companytaxretrurn #corporationtax #companyformation