Hello
This might sound like a stupid question but I remember reading a tread from 2009 about borrowing money to provide director loan to a limited company that the interest on the loan was tax deductible.
My situation is I’ve just set up a limited company and it’s not done much trading, but I want to avail of the current PRSA rules and borrow money by remortgage or other loan and lend it to my LTD company to put into my PRSA and then have the LTD company repay me
This seems like a no brainer to me, but I’m trying to figure out if I can get an interest rate loan enough that the claimable allowance would be worth the interest charge
thank for any help
This might sound like a stupid question but I remember reading a tread from 2009 about borrowing money to provide director loan to a limited company that the interest on the loan was tax deductible.
My situation is I’ve just set up a limited company and it’s not done much trading, but I want to avail of the current PRSA rules and borrow money by remortgage or other loan and lend it to my LTD company to put into my PRSA and then have the LTD company repay me
This seems like a no brainer to me, but I’m trying to figure out if I can get an interest rate loan enough that the claimable allowance would be worth the interest charge
thank for any help