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Search results: 6 article(s) found in topic: Profit extraction - keyword: Directors loans

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Using company money to pay your tax bill

You have a large self-assessment tax bill to pay at the end of January. The trouble is that after the excesses of the festive season you’re a bit strapped for cash. What are the tax consequences of using company funds to pay HMRC? More...


Balancing income with your business partners

When you started the business you and your colleagues agreed to share the profits equally, but now one needs more income. You’ve agreed to it provided the others are compensated later. What’s the best way to do this? More...


Overpaid dividends - what will the Taxman say?

You want to pay yourself in the most tax-efficient way and this usually involves taking dividends, but these can only be paid if your company makes a profit. So what’s the position if you get your sums wrong and you take too much? More...


How to get more from your offset mortgage

The big differential between savings interest and borrowing rates means that offset mortgages can save you money. But can you use your company’s cash to improve the deal without the Taxman asking for a slice of the action? More...


How to clear a director’s loan account

Your accountant has started work on your company’s accounts and he’s already warned you that your loan account is overdrawn. He recommends paying a dividend or bonus to clear the balance. But is there a better alternative? More...


Paying interest on loan accounts

The Taxman can impose a tax charge on the benefit of a cheap loan from your company. However, there is an exemption for certain fixed rate loans. How can you take advantage of this? More...
Last updated: 09.12.2019

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