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Posted Tue, 18 Jul 2023 20:24:01 GMT by
I have recently registered a limited company that hasn’t yet started trading, due to a change of circumstances the company will now not start trading until some time in 2024. I’ve loaned money to the company £40000 which is currently sitting in the companies bank account which was to be used to help with start up costs for the company. Would it be possible to find out if it’s acceptable to keep these funds in the company’s bank account until the business starts or should it be removed and then given back to the company nearer the time?
Posted Thu, 27 Jul 2023 14:03:23 GMT by HMRC Admin 8 Response
Hi,
It is acceptable for the funds you have lended your company to remain in the company's bank account, despie the fact that it may not have commenced trading yet.
Thankyou.

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