Hi, 

I’d like to get advice on the treatment of two loans that were made to my business account by two friends to pay for a property that was bought at auction.  The loans were paid into the business account and the full amount was transferred to the auction house inc fees and charges the same week and the property became an asset of the business and the loans appeared on the balance sheet as debts to be repaid to my two friends.  Due to a recent shareholder dispute, these loans have come into question.  Should the loans have been treated as if they were “personal loans” to myself which creates tax liabilities or loans to the actual business with no tax implications for either borrower or lender?  No interest is being charged or paid. 
many thanks 

Nina