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Directors loan end of year

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    Directors loan end of year

    Hi,

    My year end was February and my accountant has finalised my accounts and informed me that the Directors Loan Account has a debit of £450, that must be repaid. This was a bit of a surprise.

    What implications does this have to me and my company, if any? I.e. tax.

    How do I pay the money back to my company?

    Thank you.

    #2
    Declare a dividend but don't pay any money...?
    Blog? What blog...?

    Comment


      #3
      Originally posted by CoderSaturn View Post
      Hi,

      My year end was February and my accountant has finalised my accounts and informed me that the Directors Loan Account has a debit of £450, that must be repaid. This was a bit of a surprise.

      What implications does this have to me and my company, if any? I.e. tax.

      How do I pay the money back to my company?

      Thank you.
      Transfer using internet banking.

      Comment


        #4
        Originally posted by CoderSaturn View Post
        Hi,

        My year end was February and my accountant has finalised my accounts and informed me that the Directors Loan Account has a debit of £450, that must be repaid. This was a bit of a surprise.

        What implications does this have to me and my company, if any? I.e. tax.

        How do I pay the money back to my company?

        Thank you.
        Invoice your Ltd Co for "loan risk assessment fee" or annual H & S at work check.
        "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

        Comment


          #5
          Why didn't you ask your accountant when he advised you? That is kinda what he is there for.

          EDIT : I see you still haven't learnt which part of the forum is which yet... but how did you renewal negotiations go?
          Last edited by northernladuk; 29 March 2018, 17:59.
          'CUK forum personality of 2011 - Winner - Yes really!!!!

          Comment


            #6
            Originally posted by northernladuk View Post

            EDIT : I see you still haven't learnt which part of the forum is which yet... but how did you renewal negotiations go?
            I'm so tempted...


            "You’re just a bad memory who doesn’t know when to go away" JR

            Comment


              #7
              Though maybe a bit of radiator bleeding....

              "You’re just a bad memory who doesn’t know when to go away" JR

              Comment


                #8
                Chutney!!!




                (Spoon is at 3:43)
                "You’re just a bad memory who doesn’t know when to go away" JR

                Comment


                  #9
                  Originally posted by northernladuk View Post
                  Why didn't you ask your accountant when he advised you? That is kinda what he is there for.

                  EDIT : I see you still haven't learnt which part of the forum is which yet... but how did you renewal negotiations go?
                  Good thanks, they offered £500 a day in the end.

                  Comment


                    #10
                    Originally posted by malvolio View Post
                    Declare a dividend but don't pay any money...?
                    Okay thank you. Essentially I'll be paying the 7.5% dividend fee this way, I thought there would be a different way around it.

                    Comment

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