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Search results: 32 article(s) found in topic: Loans - keyword: Directors

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LOANS

Lending to your company - avoid a tax trap

A few years ago you personally borrowed money to help your company through a sticky patch. A colleague says that you could claim a tax deduction for this. Assuming he’s correct, how much tax relief can you claim? More...

COMPANY TAX

Directors’ loans - is a book entry better than cash?

As a shareholder if you owe your company money it might result in an extra tax charge. This can be avoided by clearing the debt with a simple book entry or as a transfer of the cash required, but which is the best option? More...

EXPENSES

Directors’ start-up costs - how to claim them?

You paid expenses personally to get your company up and running. You don’t expect it to be able to repay these or give you a salary for some time yet. Can you claim a tax deduction for the start-up costs? More...

LOANS

Borrowing from your company - keep the tax cost down

Directors can indefinitely borrow up to £10,000 interest free from their companies at no tax cost to themselves. The trouble is the company will have to pay tax and tough anti-avoidance rules apply. Is there a way to legitimately avoid them? More...

LOANS

Loans to directors - when do special charges not apply?

A stiff tax for your company can arise if you borrow money from it. A colleague tells you it can be avoided if the loan is on commercial terms. Is she correct and are there other ways the tax bill might be dodged? More...

LOANS

Directors’ loans - the importance of proper paperwork

Your company lent a director £20,000 over three years. The board suggested interest should be paid to prevent tax charges. The interest was debited to the director’s loan account, but HMRC says it has no effect on tax. Is this correct? More...

LOANS

How to escape company tax on directors’ loans

As the director shareholder of your own company you might borrow from it to cover personal expenses. The trouble is owing money to your company can trigger a hefty tax bill. How can you avoid this without repaying what you owe? More...

LOANS

Directors’ loan accounts - latest from HMRC

CORPORATION TAX

Borrow from your company, but avoid the tax charge

If you borrow from your company and don’t repay the debt within a set time it will have to pay extra corporation tax. The good news is there’s a legitimate way to avoid it without repaying the loan. How is it done? More...

LOANS

Directors’ loans - dodging a tax trap

Several years ago you injected your own cash into your company, but now you need some back. Your accountant says that where your company repays part of what it owes you it can trigger a tax charge. Why, and how can it be avoided? More...
Last updated: 06.12.2019

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