A director is resigning, having invested money - not sure how to handle this


We currently have two directors in our company. The other director wishes to resign basically immediately. The company has not made money (yet, hopefully!). There are two issues:

  1. We have both invested funds in the business as directors’ loans - what is the status of his investment when he resigns?
  2. We have an ongoing obligation for the company to pay (late filing penalties) which we have agreed will be jointly borne by us - each of us has to pay a certain amount each month into the business, which then pays the penalty. How should this be handled for the future?


That all can stay under one director loan a/c