Your director’s loan account is significantly overdrawn, so your accountant suggests writing the debt off as this will be tax efficient. But you’re not so sure; you recall a change in the rules
relatively recently. So should you follow his advice?
Published 11.01.2012
If it comes to light when you prepare your company’s accounts that you’ve got an overdrawn director’s loan account, what is the best way of dealing with this? Is it really a problem?
Published 22.05.2008
Your company’s annual accounts have recently been drafted. However, under “debtors” they include overdrawn directors’ loan accounts. What’s the most tax efficient way of clearing these?
Published 21.06.2007
Where a director owes his or her company money, it can face a tax bill. But it’s not an easy job to work out how much this should be, and the Taxman will have his own ideas. What steps can you take
to keep the bill to a minimum?
Published 19.01.2011
To ease cash flow you’re leaving the dividends due to you in the company. But you want it to pay interest for having the use of your money. The trouble is it can’t afford to pay that either. Does the
tax system offer a silver lining to this cloud?
Published 29.03.2010
If your business is relocating to a more expensive area, or you’ve got your eye on a property that’s just out of your price range, is there any way in which your company can help with the finances
without triggering a huge tax bill?
Published 29.03.2010
If you’re repaying a personal bank loan that was used to buy your company’s business premises, you’re entitled to tax relief on the interest you pay. But what’s the most tax and NI-efficient method
of claiming this?
Published 09.09.2015
You’re currently arranging a loan from your company, and to avoid taking a hit from the Taxman on this you intend to pay interest at the “official rate”. But if this increases, will you end up with
an unexpected tax bill?
Published 22.06.2010
Your company’s salesman receives a monthly salary plus a commission based on sales. They’ve now asked if you could lend them £15,000 to be repaid from their commission. What’s the Taxman likely to
think about all this?
Published 27.09.2007