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Tax Efficient Ltd. Company Load to Another Ltd. Company

  • 09-07-2009 2:21pm
    #1
    shanejunkin
    Registered Users, Registered Users 2 Posts: 85 ✭✭


    Hi All,

    I am the director of a limited company that provides specific services. I simply want to invest some company funds in equipment for a differenct business that I am already involved in.

    I believe that I need to set up another limited company. Do I simply transferr funds from company account 1 to the new company account and then buy the equipment from the funds in new company's account?

    What are the tax implications with such a transfer?

    Is there a better way of funding this second endeavor?


Comments

  • #2
    shanejunkin
    Registered Users, Registered Users 2 Posts: 85 ✭✭shanejunkin


    The title of the thead should be Tax Efficient Ltd. Company Loan to Another Ltd. Company !!!


  • #3
    lecheile
    Registered Users, Registered Users 2 Posts: 703 ✭✭✭lecheile


    shanejunkin wrote: »
    Hi All,

    I am the director of a limited company that provides specific services. I simply want to invest some company funds in equipment for a differenct business that I am already involved in.

    I believe that I need to set up another limited company. Do I simply transferr funds from company account 1 to the new company account and then buy the equipment from the funds in new company's account?

    What are the tax implications with such a transfer?

    Is there a better way of funding this second endeavor?
    Shane - one of the most efficient ways that you can fund an enterprise from funds in another one can be through a Business Expansion Scheme -Once your company qualifies under the scheme you can benefit greatly. Description and further info here .


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