The Umbrella Company Solutions do not include Director’s Loans, but Private Limited Companies can offer them. This piece provides insight into the commonly asked question and the consequences associated with a Director’s Loan, courtesy of our Managing Director, Gerard Kiernan. Due to the very positive and optimistic contracting sector, it is understandable why many Independent…
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How 185 of the Companies Act Applies to Loans to Directors
Company law stipulates the requirements for direct or indirect borrowing or advances from company directors in section 185 of company law. In addition to loans and advances represented by the book debt, the director may also provide assurances regarding or assurances regarding any loans he or that other person takes. Any loan or advance shall…