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
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
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
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
As a director you can borrow money interest free from your business, which is a useful perk. Whilst this can trigger tax bills for you and your company these can be avoided as long as you stick to
the rules. How does this tax break work?
Published 05.10.2015
A year ago your company made a loan to a senior employee. They are about to be made a director. There can be stiff tax charges for directors’ loans, but as the employee wasn’t a director when the
loan was made, will they apply?
Published 10.11.2017
You need extra spending money for your summer holiday. As your company has plenty in the bank you’re considering transferring some to your personal account or using your company credit card while
away. Which option is more tax efficient?
Published 12.06.2019
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
One of your company’s director shareholders wants out and as part of the deal he wants the balance of his overdrawn director’s loan account written off. What steps are needed to make the arrangement
tax efficient for your company?
Published 16.09.2019
A director shareholder has run into financial trouble and can’t repay money he borrowed from the company. As a goodwill gesture the board has agreed to forgo repayment, but for tax reasons should it
write off or waive the loan?
Published 27.09.2018