I made several loans to my company to help keep it afloat during hard times. I decided to downsize, close the company and continue as a sole trader.
Some of the money has been repaid, however there is still a lot that I haven't got back. Can I still repay the money to myself considering the company has closed?
Hi @Whenbob
A company is its own entity. When it was wound up, do you know how the debts it owed were treated? In some cases, they can be waived. You wouldn't be able to pay yourself back from your own funds and say they're from the company.
Hi @Whenbob
A company is its own entity. When it was wound up, do you know how the debts it owed were treated? In some cases, they can be waived. You wouldn't be able to pay yourself back from your own funds and say they're from the company.
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