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Related UK Tax Questions
I would like to check with you. Friend has limited company.
HelloI would like to check with you. Friend has limited company. He would like to take business loan for £40 000. He would like to use these money for paying off his another 2 personal loans. Would he… read more
Sam Pathak
Sam Pathak
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Please, can you advise what is difference between Director
HelloPlease, can you advise what is difference between Director Loan account and Owners Drawings? If I paid by business bank account for something which was not part of business, how should I record t… read more
taxadvisor.uk
taxadvisor.uk
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My friend has Ltd company. She is trying to buy house. She
Hello My friend has Ltd company. She is trying to buy house. She would like to ask this: "My deposit for the house is slightly higher than I expected. I could take this money out from company's loan I… read more
taxadvisor.uk
taxadvisor.uk
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How do I enter a loan between a limited company and a sole
How do I enter a loan between a limited company and a sole proprietorship owned by one person … read more
bigduckontax
bigduckontax
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Assuming a UK resident owns 3 UK Ltd company's. A is the
Assuming a UK resident owns 3 UK Ltd company's. A is the main business. B and C are vehicles for profits and loans. Could B provide a directors loan. A year later, C provides a directors loan and the … read more
bigduckontax
bigduckontax
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I have setup a limited company 4 years ago as a company director.
I have setup a limited company 4 years ago as a company director. For tax saving reasons we have only declared up to personal allowance for my salary. I need to raise £100k to do my own house extensio… read more
Tony Tax
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High School or GED
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I own my own limited company. Is it allowable to pay myself
I own my own limited company. Is it allowable to pay myself a dividend at the start of the tax year and then repay it back to my company before the end of the tax year to avoid the tax implications? T… read more
TaxVince
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we want to loan our daughter £14,000 towards her one-year college
we want to loan our daughter £14,000 towards her one-year college fees (she maybe could qualify for a Government Career Development Loan but the interest rate is very high). Can you tell me what are t… read more
Sam Pathak
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Chartered Tax Adviser
Master's Degree
468 satisfied customers
I have a client who runs a limited company and for many years
I have a client who runs a limited company and for many years has overdrawn on his directors loan account. This has resulted in his having to pay S419 corporation tax for each of the last four years. … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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borrowing money from my ltd company I have a limited company
borrowing money from my ltd company I have a limited company and money in my business account. If I need money, can I withdraw money form my business account use it for 4-5 months and put it back. wil… read more
Tony Tax
Tony Tax
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High School or GED
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I am looking to purchase of my new property where my parents
I am looking to purchase of my new property where my parents may need to loan/gift me £20,000 towards the purchase. Would either of us be liable for any personal tax by them gifting me this money and … read more
Sam
Sam
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My in-laws financial advisor has offered this suggestion to
My in-laws' financial advisor has offered this suggestion to my wife re the purchase of a buy to let property the in-laws are about to acquire. The in-laws are 86 and 76 respectively. My wife currentl… read more
Sam
Sam
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Hi There, I have traded as an IT consultant for the past
Hi There, I have traded as an IT consultant for the past three years and have continually witdrawn the entire profits of the business as personal funds. Being unable to pay the company tax due, I have… read more
Tony Tax
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High School or GED
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Can you clarify the tax implications for a Limited Company
Can you clarify the tax implications for a Limited Company and for the individual of advancing an interest free loan to a diretor of £1000 per month over anumber of years I believe that the individual… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
On the subject of intersibling loans if say i make an interest
On the subject of intersibling loans: if say i make an interest free loan to my sibling and this is repaid say 10 years later, in terms of tax records: 1) do i need to keep a copy of the bank statemen… read more
Tony Tax
Tony Tax
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High School or GED
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if a UK limited company makes a loan to a connected overseas
if a UK limited company makes a loan to a connected overseas limited company, using revenue generated during either the current or previous financial year, how are those funds treated for Corporation … read more
TEAP007
TEAP007
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I loan a relative 50000. He pays it back at 0% interest over
I loan a relative £50000. He pays it back at 0% interest over 20 years. 1) Do the transactions have to be declared. 2) What is the tax position for him & for me ? Many thanks for any advice.… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,703 satisfied customers
Hi, I need to find out about repaying the Directors Loan account
Hi, I need to find out about repaying the Directors Loan account by releasinga formal contractural procedure as on HMRC website… read more
TEAP007
TEAP007
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