Directors investment

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biz hopeful

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My husband and partner are in the process of setting up a limited company with both of them as directors. They set it up with the CRO stating they were issuing 2 shares (1 each).
Now they're both investing €10k each for working capital - What is the best way of accounting for this, can I record it as directors loans to the company or should we have set the company up with 20,000 shares issued??

Thanks for any assistance.
 
My husband and partner are in the process of setting up a limited company with both of them as directors. They set it up with the CRO stating they were issuing 2 shares (1 each).
Now they're both investing €10k each for working capital - What is the best way of accounting for this, can I record it as directors loans to the company or should we have set the company up with 20,000 shares issued??

Thanks for any assistance.

Best record as director loan to each
 
Director loans - They can then (hopefully) extract the €10,000 back out with no tax implications when the business generates a few bob.
 
Thanks for the replies, do I need to charge interest on these loans or is it required? Is there any tax implications?
 
If its a working capital loan, both may be entitled to section 248 tax relief on their form 11 return. Certain conditions apply.
 
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