Rules for Lending money to a Ltd company in Ireland

D

daffey

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Can any body answer my questions regarding loans to a Ltd company?

1.How does a loan have to be declared?
2.Are there any statuatory requirements/procedures that must be followed?
3.Does a loan agreement need to be drawn up?
4.Who would draw this agreement up?
5.Is a loan agreement valid without a written agreement?
6.Does it have to be signed by the directors or can an employee/shareholder sign agreement.

Can you give me any links to wed site where I can read more on this subject


Daffey
 
perhaps if you gave more information on who would be lending money and why, it would help.
 
There is no legal requirement for a loan agreement, though it would be advisable.

Depending on the interest paid on this loan and the relationship of the person to the company, there may be tax issues with the interest.

The loan would be noted in the accounts.
 
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