Loan to director
A document drawn just for you to your exact requirements. Free discussion before we provide an estimate. Fixed fee for each stage of work.
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Key features
England & Wales
Scotland
- Length:5 pages (790 words)
- Available in:
Microsoft Word DOCX
Apple Pages
RTF
If the document isn’t right for your circumstances for any reason, just tell us and we’ll refund you in full immediately.
We avoid legal terminology unless necessary. Plain English makes our documents easy to understand, easy to edit and more likely to be accepted.
You don’t need legal knowledge to use our documents. We explain what to edit and how in the guidance notes included at the end of the document.
Email us with questions about editing your document. Use our Lawyer Assist service if you’d like our legal team to check your document will do as you intend.
About this set of documents
These documents allow a company to authorise a loan of money to a director by following one of two possible procedures.
Of all the business of a company, there are few more important that should be recorded than the relationship between a lender company and a borrower director.
Firstly, there are tax implications for both the company and the director. HMR&C may wish to see evidence that the loan was approved by the members and that the terms match the economic reality.
Secondly, if there are shareholders who are not directors, it becomes important also to make quite sure that the records in this document set are properly completed and may be copied among affected parties. A loan to a shareholder-director could be said to be unfairly favourable to him or her, and to the detriment of other members.
The Companies Act 2006 allows you to authorise lending in two ways: in members’ general meeting or by way of written resolution. We have taken advantage of this flexibility by providing two sets of documents – one for each procedure.
The draft minutes and notices provided here are, of course, as required by the Companies Act 2006. They are written in plain English and have standard layouts.
There is no obligation to file a copy of any of these documents at Companies House (unlike a loan to a company).
Documents included
Documents for approval at a general meeting
- Minutes of meeting of the directors
- Consent to short notice for General Meeting
- Notice of General Meeting
- Minutes of General Meeting
- Proxy voting form
Documents for a written resolution
- Minutes of meeting of the directors
- Written resolution
- Statement under section 291(4)
- Member approval to written resolution
This document set does not record the terms of the loan. For that, you will need a separate loan agreement template.
Features
- suitable for both types: general meeting or written resolution
- provide option to call a meeting at short notice
- contain modern provisions in plain English
- allow you to draw the text of your minutes and resolutions to suit your exact business needs
- full of practical and commercial help and suggestions
Recent reviews
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Document only
- Comprehensive template covering legal and practical points
- Detailed guidance notes a step-by-step instructions to help you complete your document with confidence.
- Up to date with latest law our lawyers regularly review how new relevant law affects each document in our library
- Written in plain English avoiding legal terminology unless necessary. plain English makes our documents easy to understand, easy to edit and more likely to be accepted
- Support from our legal team email us with questions about editing your document
- Money back guarantee that if the document isn't right
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- Comprehensive template covering legal and practical points
- Detailed guidance notes a step-by-step instructions to help you complete your document with confidence.
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- Review of your edited document by our legal team including:
- understanding your requirements
- checking that your document will achieve your goal
- reporting on whether your changes comply with the law
- answering your questions about how to word a new clause or achieve an outcome
- checking that your use of defined terms is correct and consistent
- correcting spelling mistakes
- reformatting the document ready to sign
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