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Question about transferring funds to business account

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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divchopra
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Posts: 71
Joined: Tue Jul 09, 2019 4:27 am

Question about transferring funds to business account

Post by divchopra » Fri Nov 27, 2020 12:37 pm

Hello all,

I want to ask about transferring cash from personal bank account to business bank account. How should one do it? Should i merely transfer cash from one account to another or is there any other formality? If i transfer the cash, should i put any reference? I read that this will be called directors loan? So do i have to make a separate agreement every time i transfer cash. For instance If i transfer 5k this month and 15k after three months and so on, how do i record it? Should I just transfer the cash and put this entry in the accounts at the end of the year or is there something i need to do every time before transferring the funds? Basically how do one transfer funds to the business account in parts and what is the formality involved? Thank you.

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CR001
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Re: Question about transferring funds to business account

Post by CR001 » Fri Nov 27, 2020 5:00 pm

Continue in your existing topic!!!
Char (CR001 not Casa)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.

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