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Another question for taxadvisor.uk Following on from my last
Another question forCustomer Following on from my last query...is it permissible to receive income from a business sale say £500 and take that immediately as a director's loan to deal with personal fi… read more
taxadvisor.uk
taxadvisor.uk
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A director & minority shareholder has an overdrawn
Hi Tony, a director & minority shareholder has an overdrawn Director's Loan Account. The shareholders have agreed that they would write off some of the DLA > £10k. (1) What is the mechanism for cal… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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I have an overdrawn DLA of approx £50k and my ex director forced
I have an overdrawn DLA of approx £50k and my ex director forced a creditors liquidation. I was not responsible for any financials until my ex partner was off with a long term illness. On finding out … read more
bigduckontax
bigduckontax
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We have a Ltd company with a significant Directors loan that
We have a Ltd company with a significant Director's loan that has been made up of significant monies put into the business. The business is now profitable and growing strongly. We expect to be able to… read more
Tony Tax
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A certain close company has a year end March 31st. It wants
A certain close company has a year end March 31st. It wants to declare a dividend to clear substantial loans to its directors before year end to avoid the company paying 25% ACT. If it declares a fina… read more
Tony Tax
Tony Tax
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I have a limited company. I am being chased by a supplier
I have a limited company. I am being chased by a supplier for a debt of £20k. I want to close the company down but I am £25k overdrawn on my deirectors loan account. Should I treat this as a salary ? … read more
Sam Pathak
Sam Pathak
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Dear Sir/Madam Im afraid my question is rather long and
Dear Sir/Madam I'm afraid my question is rather long and comprises a few elements. If the standard fee is not enough because it really counts as two questions let me know. My question relates to limit… read more
Sam Pathak
Sam Pathak
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Master's Degree
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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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im a director of a company for which I take 14000 salary per
im a director of a company for which I take 14000 salary per annum and for which I am through the payroll system. My year end is March 2011. In year 2010-2011 I received a dividend... do I have to get… read more
Tony Tax
Tony Tax
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High School or GED
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I have a client that has an overdrawn DLA of £30k -Co.A and
I have a client that has an overdrawn DLA of £30k -Co.A and cannot afford to pay it back and cannot pay the income tax on it. This director is a director of two companies-. She owns about 30k of share… read more
mark25551
mark25551
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Company year end 31/03/2011. Can a dividend be declared 6 months
Company year end 31/03/2011. Can a dividend be declared 6 months later but deemed to have been paid on 31/03/2011 by credit to the director's current account at the year end date? There is no overdraw… read more
berduchwal
berduchwal
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after completing my tax spreadsheet for 2010-11 (Ist company
I have started my company Jan 2011, I worked as locum hospital doctor, after completing my tax spreadsheet for 2010-11 (Ist company year) still I have £45000 of bank transfers other than expenses, sal… read more
Tony Tax
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I have a client who is a director of a close company and she
I have a client who is a director of a close company and she has a £20k+ overdrawn loan account which has accumulated over about 3 years and has never repaid it any all. She has been claiming tax cred… read more
Tony Tax
Tony Tax
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High School or GED
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Good morning. Since being made redundant I have been doing
Good morning. Since being made redundant I have been doing contract work through my own limited company. After claiming for work related expenses I have withdrawn £46,468 during the last financial yea… read more
Tony Tax
Tony Tax
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High School or GED
16,712 satisfied customers
Have taken money out of company over the years and not declared
Have taken money out of company over the years and not declared for tax purposes. Coming clean, is it best to classify this as directors loan account or payment (e.g. dividend)? Would HMRC give me an … read more
Tony Tax
Tony Tax
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High School or GED
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When a company is showing a loss can directors still take
When a company is showing a loss can directors still take Dividends. What is the personal tax implications for the director… read more
Tony Tax
Tony Tax
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High School or GED
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Hi, my husband and I started a small limited company last April
Hi, my husband and I started a small limited company last April hiring out camper vans. At the beginning and subsequently since in small amounts, we have had to put our own capital (from the sale of p… read more
Simon Cook
Simon Cook
Vocational, Technical or Trade Scho
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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
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