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1. Any loan agreement is almost always drafted before the first transfer. However you can back date the loan agreement now.aliii wrote:Hi There
I have invested money in terms of Director's Loan and the money was transferred from personal Bank Account to Business Bank Account over the period of 3 years in multiple transactions and the final accounts of last three years states Director's Investment as follows:
2012-2013= £23,000
3013-2014=£44,000
2014-2015=£52,000
Now my question is Do I need to provide Director Loan Agreement before the first transaction was made to business account or on the Date when my last accounts was submitted stating Director has invested the total money of £50,000?
Can I also write in Table 3b1 in such format where Dates and amount is asked?
2012-2013= £23,000
3013-2014=£44,000
2014-2015=£52,000
Kind Regards,