With the financial year-end for many companies approaching, directors need to keep an eye on the ins and outs of their company loan accounts. What steps can you take to ensure your company isn’t
taxed on money it’s lent you?
Published 20.03.2012
Your company’s financial year is drawing to a close and your director’s loan account is in the red. This will trigger a tax bill, so your accountant advises taking a bonus to clear the debt. But how
should you calculate this and when should it be paid?
Published 07.12.2010
Where you borrow money interest-free from your company, you can land yourself with a tax bill. But a friend, who’s also a director, tells you that he avoids this by paying interest to his company.
Will this also work for you?
Published 31.10.2011
In April 2014 the Financial Conduct Authority took over regulation of consumer credit and promised to take a tough line on firms that flout the rules. Could your director’s loan account land you in
trouble?
Published 25.11.2014
When it comes to finances it’s easy to think of your company as just an extension to your personal bank account. So, dipping into it for cash to tide you over might not seem like a big deal. But
what’s the Taxman’s view?
Published 05.01.2010
You’ve read that the Taxman is now threatening to charge interest if your company pays its PAYE bill even a few days late. Is this true?
Published 16.06.2009
Now that the Budget has confirmed the hike in NI it makes even more sense to pay greater dividends and less salary. But there’s a right way and a wrong way to do this. Make an error and you’ll be
easy prey for the Taxman.
Published 06.07.2010
During the last year you’ve used your company’s money to pay a number of personal bills. This will trigger extra tax for your company unless you reimburse it or it waives the debt. What’s the most
tax-efficient way to tackle this?
Published 30.03.2017
In his 2016 Budget the Chancellor raised the rate of tax companies must pay when they lend money to their directors. One way to avoid it is to clear the debt with a bonus. What special steps are
needed to put this into effect?
Published 09.06.2016
Overdrawn directors’ loan accounts are taxable one way or another. So, the classic advice is to pay yourself a dividend to clear the balance. However, there can be problems with this method - so what
else can you do?
Published 21.12.2005