Home – New Forums Starting your journey Can you lend money to your own company? Reply To: Can you lend money to your own company?

Crusty Mark
  • Total posts: 6

Hi Neil,

Yes you can and it’s relatively easy. But the main thing to ensure is done correctly is how it is accounted for in your books. Essentially you become a creditor for the company and exist on the books as a debt. Whoever is doing your book keeping will be able to set this up in about 2 minutes.

Then you just transfer the money into the company account, then went reconciling accounts it is assigned to yourself as the creditor. In the future you can draw these funds back out without company tax implications.

But of course, your accountant will be the master of how that works.

Good luck with the new venture !