According to the current legislation, a loan agreement can be concluded without interest. Then the borrower will not pay interest to the lender. However, deciding to take this step, many points should be taken into account. In the article, we will consider what an interest-free loan from a founder happens, how it consists and what consequences it brings.
Features
For many, there is no difference between a loan and a loan. However, these concepts are not synonymous. A loan is a more general contract than a loan. Thus, the latter is just one type of loan. It differs in that it necessarily includes interest and is concluded only with a banking organization or another that has a corresponding license.
Consider the features of the loan.
- It can be provided both in the form of money and things.
- There is a possibility of a contract free of charge.
- The agreement takes effect when property or money is transferred.
- Unlike a loan, a loan can be issued by any legal entity or even an individual. It is mainly transmitted in cash. However, it is possible to provide in another form. Moreover, things cannot have individual characteristics, but they are united by certain signs.
- Clothing loans are usually a priori interest-free. However, with regard to money, on the contrary, most transactions are carried out with interest. And unless otherwise specified, the percentage is calculated by default (at the refinancing rate).
And another important difference is that a loan agreement comes into force only upon the transfer of money or a thing, while a loan is considered concluded already when the agreement indicating the obligation to issue money was signed.
Interest-free loan from the founder
This loan is one private type, which assumes that the borrower will not pay interest on the contract. Thus, he must pay only the amount that he received on hand.
However, in practice, different circumstances need to be considered. So, an interest-free loan from the founder involves the payment of taxes from both the borrower and the lender. Therefore, these points must be taken into account so that it is not so that an attempt to reduce costs will lead to a large increase in taxes and will not be profitable.
The main objectives for which this type of loan is issued are:
- the help of the founder;
- mutual assistance between firms;
- financial support for employees or business owners;
- financing a business project;
- help to friends and relatives.
When exceeding the amount of 1000 rubles, it is necessary to draw up a contract. If this is not done, then it will be impossible to prove lending money.
Taxes and types of contracts
For transactions that are carried out between dependent on each other individuals and legal entities (for example, between the employer and the employee), special control is provided by the state regulatory bodies. After all, such a path is one of the ways to launder illegal proceeds. Therefore, when drawing up a contract in accounting, they should be extremely careful, especially in the matter of calculating taxes.
The main danger is seen by the Ministry of Finance, which has the opportunity to take into account the taxation of profits from what the company could win at a market interest rate. However, regulatory authorities will pay attention to loans only if they are held in large volumes and provide for substantial amounts.
Taxes on the contract are calculated as follows:
- income tax is not provided (although in some cases the issue is controversial);
- Personal income tax (in the case of a transaction with an individual) is determined due to the fact that the borrower benefits from the use of funds without interest;
- contributions to social funds are not transferred, since the payment is not direct.
If the interest-free loan of the founder does not fall under special control, difficulties in registration, as a rule, do not arise. Only if extraditions are made on a regular basis with amounts equal to and exceeding 600,000 rubles, additional questions may arise.
Loans have long been common both in carrying out activities and between private individuals. Interestingly, the opinions of the tax authorities and judicial practice often differ, which should be taken into account in order to minimize their risks.
An interest-free loan agreement may be concluded between the founder, organization, individuals, as well as an individual from a legal entity and a legal entity from an individual.
Agreement between individuals
Individuals may well conclude loans among themselves both on a percentage basis and on an interest-free basis. However, they cannot exceed the amount of 50 minimum wages. But when issuing things, any amount is permissible.
Taxes are calculated here the easiest. Moreover, without cases only cases not related to entrepreneurial activity are allowed. Sometimes it is necessary to prove that the parties did not intend to obtain commercial benefits from the transaction.
Contract between legal entities
Friendly companies can help each other. Then, for the lender, the tax consequences do not occur. But for the borrower, the issue is controversial.
So, based on Article 41 of the Tax Code, tax officials believe that a borrower will generate income as a result of the loan, since it saves on interest. Therefore, the transaction is considered a gratuitous service.
However, the arbitration court does not agree with the tax authorities. Usually they do not consider it a service, therefore there is no income, and therefore there is nothing to levy income tax on. Therefore, if disputes arise with the inspection, you can apply to the court with full confidence that you are right.
Contract from a legal entity to an individual
If the company is successful, then it is quite able to help its important employee who finds himself in a difficult life situation. Then, an interest-free loan from the founder can be issued. Upon receipt of a loan, an individual must pay personal income tax, the amount of which is from three quarters of the refinancing rate.
If the borrower is an employee, then tax can be paid by deducting a certain amount from wages. In another case, accounting submits documents to the tax. Then the borrower pays the tax on his own. There may be exceptions to this rule. So, if the money goes to buy a home, then a tax deduction can be received. Then personal income tax will not need to be paid.
From a private person
Not only can an interest-free loan agreement be drawn up from the founder - legal entity. Sometimes organizations themselves apply to receive it from a private person. Then you do not have to overpay for bank interest. It would seem to someone that this interest-free loan agreement between the founder and the organization is simply a transfer of money. However, it is not.
The borrower will not bear the tax burden. But the founder can get unreasonable benefits. For market conditions, providing a loan without interest is not a typical situation.
However, the tax may require the lender to pay personal income tax. Then, the refinancing rate will be calculated as the interest rate.
Interest-free loan agreement from the founder
A loan can be issued in the short and long term. When you design it should take into account various nuances. There are no obstacles to a transaction without a fee. However, if this is not specified in the contract, then by default it will be considered onerous, interest will be calculated on it.
The contract does not have what the content should be like a certain form. But it must necessarily reflect the following data:
- amount issued;
- exact maturity;
- an indication of the fact that no interest will be charged;
- the procedure for issuing a return to the founder;
- details of one and the other side;
- whether the money will be transferred in cash or otherwise;
- late payment penalties;
- dispute resolution mechanism;
- all sorts of other conditions.
An interest-free loan from the founder, a sample with a fragment of which can be seen below, is made in duplicate for each of the parties. When transferring money, the borrower writes a receipt that the amount has been received, which necessarily indicates the size, date of issue and details of the parties to the contract.
All conditions prescribed in the document may not contradict the current legislation. It is not necessary to register with a notary public. But if one of the parties or both wishes, this can be done. However, by law, the signatures of the parties are enough.
A common annex to a contract is a repayment schedule. It may also indicate other important points.
The peculiarity of the contract from the employer
Since one of the parties is a legal entity, in the usual manner to issue employees will not work interest-free loans to the founder. The consequences here are that the CEO becomes in the contract both the representative of the lender and the borrower. By law, this is not allowed. Therefore, in order to get out of this situation, a separate decision is made by the founders of the company. After this, the agreement is signed by one of the founders on behalf of the organization. The decision to issue a loan should be separately recorded.
Loan content
To conclude an agreement on the part of an employee, it is enough to provide a passport or other document that certifies his identity. The contract indicates the data from the document. It is not necessary to confirm income with special paper, as the employer already has this information. At the same time, the lender may require other documents to conclude the transaction.
The employer does not need to provide any documents. In most cases, it is signed by the general director or other official authorized for this action on behalf of the legal entity.
Naturally, the contract must be drawn up in writing and in proper form, otherwise it will be impossible to prove its conclusion, as well as conduct an accounting operation and pay taxes if necessary. A cash register is not used for either issuing or repaying a loan. Cash for this is quite enough.
This is how an interest-free loan from the founder should be accompanied by a document. The model contract includes important clauses that need to be reflected.
Conclusion
Such may be loans issued without interest. It is worth adding that the founder can forgive the loan. Then a separate agreement on debt forgiveness is drawn up.
Before issuing an interest-free loan from the founder, the tax consequences, as well as the likelihood of special control by state bodies should be studied. If everything is in order with the documentation, mutual assistance is always beneficial both to the party that receives help and the one that gives it out.