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Loan to new propert investment LTD from my trading LTD


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Hi,

I'm an IT contractor working through my own limited company. This company has surplus profits from which I would like to invest in property. I've been advised by my accountant to set-up a new LTD company to do this with. I've been advised that I can then loan money to the new property investment company from my existing limited company.

Does anyone know whether I need to produce a formal loan agreement for this? My accountant has said no , but that doesn't feel right to me. Surely the particulars of the loan would need to be documented, even if I am owner of both companies?

Thanks,

Jit

 

 

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