View Full Version : APN and paying from your limited account

28th October 2015, 08:02
Sorry if this has been answered else where but I cant find the solution.

I have an offer to repay an APN for 08/09 with Zansar and I wonder how I pay now I am limited??

If I pay myself more wages/Dividends for this tax year then I will potentially put myself in the higher tax bracket thus being screwed again on tax.

Is there any sort of relief or means of accounting for this out of my limited?

28th October 2015, 08:14
No. It's a personal liability and nothing to do with your co.

Depending on the amounbt of the APN you could give yourself a directors loan, but that still has to be paid back or you end up paying tax on that anyway. You could loan the money and pay interest on it at the HMRC approved rate, but that will still cost you more, although not as much as the tax on extra dividends or an unpaid loan.

Talking to your accountant is probably a good idea.

28th October 2015, 09:36
I have an offer to repay an APN for 08/09 with Zansar

Wow, you make it sound like it's a good thing :) Fair plays to your optimism ;)

28th October 2015, 10:03
An offer... (http://www.fixcas.com/news/2014/godfather.jpg):wink

28th October 2015, 18:15
NEVER mistake your company's money as your own.

The APN is personal and has to be met by you.

If your company paid it, then they have met your liability and that is a taxable benefit.