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Self assesment- introducing additional funds

Gabi2p · 2015-09-27 20:38:32

Hi, I have a friend who is a sole trader and used his private Credit Union account to take a business loan. He didn't have much on that account at the beginning of the year. my question is does he introduce the funds with the opening balance as of 1/01/14 or 1/03/14 when he took the loan? part of the payment goes towards…

27-09-2015 09:38PM

#1

Gabi2p

Registered Users, Registered Users 2 Posts: 5 ✭

Join Date: June 2015

Posts: 1

Hi,
I have a friend who is a sole trader and used his private Credit Union account to take a business loan. He didn't have much on that account at the beginning of the year. my question is does he introduce the funds with the opening balance as of 1/01/14 or 1/03/14 when he took the loan? part of the payment goes towards the loan and part to savings. he wants to use his savings to pay off the loan this year.
Thank you

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