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Agents and company loans

  • 19-08-2010 5:47pm
    #1
    Pipernet
    Closed Accounts Posts: 1 ✭


    Hi All,

    I would appreciate a little guidance on the following re company loans.

    Company A (the principal) gives Company B (the agent) a loan.

    When it comes time to pay back the loan: Company A instructs Company B to pay another, Company C, on behalf of Company A, i.e. Company B issues the cheque to company C.

    Company B has not been invoiced for anything by Company C so the question is: Can company B do this and just claim it was repaying a loan as instructed in its accounts.

    Company A and Company C will take care of their own vat liabilities on the transaction.

    Probably all straightforward but just checking.


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