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Taking out personal finance to buy a business expense

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  • wellos
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    Hello. I have been in business for a short time and therefore I needed to find a reliable solution for securely signing documents online. At https://createmysignature.com/ , I started using a securely encrypted digital signature and it helped me improve my business in just a month. I have successfully reduced the time for the document flow process and all my transactions and contracts are securely protected.

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  • VoltaTarchok
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    Yes, you can buy and sell it to your company, and the company can pay you back. As you mentioned, it would be a director's credit. However, suppose the company needs the camera and doesn't have the money to buy it. In that case, I think it has more significant problems. You might want to consider how to allocate your budget so that your company doesn't become insolvent later. When I started my business, I was on the verge of bankruptcy. I even had to seek help from financial advisors at https://stephenswmg.com to save my company. Now my company is a year old, and it only brings in income.

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  • LaseKour
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    I'm sure you'll be interested in learning about the work of Thomas Sowell.

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  • Taking out personal finance to buy a business expense

    Hi all. I need to buy a camera for my limited company. Although the company can afford it outright I want to get it and pay for it over the course of 12 months on a 0% finance agreement.

    As the company is relatively new (2/3 years old) I don't think I can get it by applying in the companies name. I have good personal credit history. Can I buy it in my name, pay monthly for it under the personal agreement, and then reimburse myself each month from the business account. This seems like a relatively simple question but Ive looked over Google and cant find an answer. I'm guessing I use the Director's Loan account to record the transactions? Do I just credit it each month, then debit it. I guess I have to also have a company asset too.‚Äč
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