IMP regrding directors loan date

[Celina]

Hello,

I have confusion regarding directors loan date please if anyone or senior member can give their advice it will be really helpful . The confusion is as per myself " the directors loan date should be dated before the date of first transaction " whereas

As per my accountant " the directors loan date should be after your last investment transaction ( in my case the last investment transfer from my personal to business account is on feb 16 ) . According to him , as he has prepared management accounts upto march 2016 so the amount in the accounts (creditors/director loan ) should match to Director agreement so there is less confusion to home office .

I need to submit my extension next week so please any advice will be really helpful .

Regards
Celina

[helpingperson]

You should date it before you make any transactions as you are pledging funds and then by doing transactions you have confirmed this agreement so some date after you have formed the company.

[zimba]

When you go to a lender for a loan, do you get the money first or sign the agreement first ??? Same logic applies. You agree on the terms and then transfer the money.