Extension Query Please advise

[rajrea]

Hi Zimba 88,

I've few question relating to my extension instead of posting new thread I'm continuing in this thread.
My queries are
> I’m taking 10k salary as a director from the company each year and till now I’ve transferred £37k as director loan. My query is if we take salary then directors loan amount should be : salary + £ 25k as I’m in Tier 1 Entrepreneur team please clarify

> I’ve also under impression that if the Investment was shown in the form of Directors loan – Director needs to transfer the money from personal account to business and there is no need to spend the entire transferred directors loan by the company – Do you agree with this how far it is true?

Please let me know if I'm wrong

[CR001]

I have split your post to its own topic as where you posted is NOT a 'general, all to post' topic. It is considered rude to just 'tag on' to another members thread with your query and it creates confusion when members respond.

[zimba]

> I’m taking 10k salary as a director from the company each year and till now I’ve transferred £37k as director loan. My query is if we take salary then directors loan amount should be : salary + £ 25k as I’m in Tier 1 Entrepreneur team please clarify

Loan amount is what directors have given to a business directly. If your company makes no money, you should not take salary otherwise it will NOT be considered by HO as invested.

> I’ve also under impression that if the Investment was shown in the form of Directors loan – Director needs to transfer the money from personal account to business and there is no need to spend the entire transferred directors loan by the company – Do you agree with this how far it is true?

Yes, there is no requirement to spend the full amount