Borrowing money from your company can result in a tax charge for it. This can be avoided by clearing the debt within a time limit set by HMRC. But that’s a problem if you don’t have the cash to do
it. Is there a tax-efficient alternative?
Published 07.09.2022
Where you borrow money from your company it counts as a taxable perk. The tax can be avoided by paying interest on the loan, but is it tax efficient or are you better off taking the tax hit?
Published 18.09.2017
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
One of our subscribers has decided to close a subsidiary of her main company. Her loan account with the subsidiary company is in the red by nearly £20,000. If the subsidiary is wound up, what tax
liabilities might this trigger?
Published 10.02.2021
One of our subscribers repaid the money she owed her company to avoid a tax charge, but a few weeks later, in the next financial year, borrowed more. Will the new anti-avoidance rules land her
company with a tax bill?
Published 04.04.2014
Your company regularly pays your personal bills and recharges those costs to you via your director’s loan account. This has never caused a problem with the Taxman in the past. So why is it doing so
now?
Published 19.06.2008
You have been in business for several years without any trouble from HMRC. However, your accountant says that the way your director’s loan account is managed might increase your tax bill. Why, and
can it be avoided?
Published 13.05.2020
Several years ago you made a loan to your company. Since then you’ve drawn on company cash to pay private expenses. On balance you’re in the black but HMRC says your cash drawing is separate from the
loan and is taxable. Can it be right?
Published 18.09.2023
As a director and major shareholder you use your company credit card to pay for personal expenses from time to time. You can clear the debt by repaying it or get the company to write it off. Does it
matter how and when you do this?
Published 22.01.2019