As the director shareholder of your own company you might borrow from it to cover personal expenses. The trouble is owing money to your company can trigger a hefty tax bill. How can you avoid this
without repaying what you owe?
Published 09.04.2018
Where you use your personal credit card to pay for business expenses, simply claiming these back from your company might mean that you’re losing out on a valuable tax deduction. Why, and what can you
do to put it right?
Published 18.03.2011
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 21.09.2022
Over the last year you needed to borrow money from your company which pushed your director’s loan account into the red. You now want to clear the debt. What are your options and what potential tax
pitfalls might there be?
Published 09.03.2021
Strict rules limit tax deductions that employees and directors can claim for work-related expenses. They must be incurred as part of doing your job, but there are exceptions, such as loan interest.
In what circumstances can you make a claim?
Published 25.01.2012
In view of proposed new rules you’re going to divert this year’s bonus into your pension fund. But with only a few days before your company’s financial year end how can you ensure tax relief against
this year’s profits?
Published 12.06.2014
As a shareholder if you owe your company money it might result in an extra tax charge. This can be avoided by clearing the debt with a simple book entry or as a transfer of the cash required, but
which is the best option?
Published 17.09.2019
Your business needs extra funds to buy equipment but it doesn’t have a track record for a bank loan, so you personally borrow the money and lend it to your company. What’s the most tax efficient way
it can pay you back?
Published 04.05.2011
You’ve built up the value of your company over many years, meaning the shares you own in it are now worth a tidy sum. How can you use this capital to obtain some extra tax relief?
Published 22.01.2013
Your company has paid so-called s.455 tax because a director shareholder owes it money. The director can’t afford and isn’t expected to repay the loan. He’s now resigned. Can your company obtain a
s.455 tax refund?
Published 16.11.2015