meecee wrote:Hi Guys,
When transferring money from personal account to business account the business account shows my name as <LastName> <Firstnameinitial>.
I wonder if I should be providing personal bank statements to prove that name is myself and I have transferred the funds. I was planning to just provide business bank statements but this name format makes me wonder.
Please advise.
Regards
Here is evidence which you need to provide for investment.
Director’s loan
If the applicant has made the investment in the form of a director’s loan, it must be
shown in both the relevant set of financial accounts provided, and through readily
identifiable transactions in the applicant’s business bank statements, which must
clearly show the transfer of this money from the applicant to the business. They must
also provide a legal agreement, between them (in the name that appears on their
application) and the company.
This agreement must show:
1- the terms of the loan
2- any interest payable
3-the period of the loan
4-evidence to show the loan is unsecured and subordinated in favour of thirdparty
creditors
If the information provided does not clearly show the loan is unsecured and
subordinated in favour of third-party creditors, you cannot accept the loan for the
award of points. Subordinated loans rank after other debts, should a company fall
into liquidation or bankruptcy.
SHARE CAPITAL
if the applicant has invested by way of share capital, the business accounts
must show the shareholders and the amount and value of the shares (on the
date of purchase) in the applicant’s name as it appears on their application. If
the value of their share capital is not shown in the accounts, then a printout of
the company’s register of members from Companies House must be provided.
The accounts must clearly show the name of the accountant, the date the
accounts were produced, and how much the applicant has invested in the
business. The accounts must be prepared and signed off by an accountant, who
is not the applicant (if they are working in their business as an accountant), in
accordance with statutory requirements
