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Search results: 29 article(s) found in topic: Loans - keyword: Directors

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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...

DIRECTORS’ TAX

Time to plan your year-end bonus?

Borrowing from your company can result in it having to pay extra tax, but it can be avoided if you repay the debt within a set time period. What steps can you take to make sure repaying what you owe is as tax efficient as possible? More...

CORPORATION TAX

Repaying your director’s loan account

Your company’s financial year ends on 31 December and your director’s loan account is in deficit. To avoid this triggering a tax bill for your company, you could take a bonus to clear the debt. What’s the most tax-efficient way to handle this? More...

LOANS

Do you have to declare a company loan?

Last year you used £15,000 of company money to buy yourself a new car. Both you and your company will have to declare the loan to HMRC. Is there a legitimate way to avoid having to do this? More...
Last updated: 18.01.2019

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