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
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
Several years ago you pumped some personal cash into your company, but now you could do with a chunk of it back. Your accountant has warned that this could lead to a tax charge. Why, and how can you
avoid it?
Published 25.11.2011
The Budget included positive news for directors on the Seed Enterprise Investment Scheme (SEIS) and company loans. But there are also moves to close a popular tax planning loophole. What’s the
low-down on these changes?
Published 16.04.2013
You want to pay yourself in the most tax-efficient way and this usually involves taking dividends, but these can only be paid if your company makes a profit. So what’s the position if you get your
sums wrong and you take too much?
Published 15.07.2013
From March 24 the Chancellor has changed the rules on company loans to shareholders. In future, loans that a company writes off won’t get a Corporation Tax deduction. Are there ways to avoid this new
tax cost?
Published 13.04.2010
You’ve used your company credit card to buy some Christmas gifts and stock up on booze for the festive season. There will be tax and NI to pay if you don’t pay your company back. But how long can you
put off doing this?
Published 27.11.2012
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
Your director’s loan account is substantially in the red and likely to stay that way for a while. As this is a benefit in kind you’ll have to pay tax and your company, NI. Both can be avoided if you
pay interest on the debt but would it be tax efficient to do so?
Published 15.11.2022