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
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
There are two different ways to calculate the taxable benefit-in-kind (BiK) on your director’s loan account. One of them is more tax efficient, but the Taxman has the right to override this; is he
likely to do so?
Published 08.06.2010
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
You’ve borrowed some cash from your company as a stop-gap. But when the time comes to pay the money back finances are tight. How can you turn this tricky situation into a tax advantage?
Published 27.05.2009
If you use your company’s money to pay for personal items or just to top up your cash, it can result in tax charges. When will these apply and how can you legitimately avoid them?
Published 02.05.2017
You’ve heard that a company can be faced with a tax bill for having its directors’ tax returns done free of charge by the company’s advisors. Can this happen and, if so, what can you do to avoid it?
Published 29.03.2006
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
The big differential between savings interest and borrowing rates means that offset mortgages can save you money. But can you use your company’s cash to improve the deal without the Taxman asking for
a slice of the action?
Published 29.09.2010