Keeping you up to date with the latest news and happenings in the worlds of accounting, tax and insolvency
Loans to directors – beware of the higher section 455 charge
Loans to directors – beware of the higher section 455 charge Section 455 tax is payable by a company where a director’s loan remains outstanding at the corporation tax due date. Directors and shareholders in close companies are often able to influence the payments t...
What are the rules when paying back a director’s loan?
Paying back a director’s loan – beware of the anti-avoidance rules Transactions between a director and his or her personal or family company are common and a director’s loan account is simply an account for recording the transactions that occur between the two. Ho...
Tax implications of making loans to directors
Tax implications of making loans to directors Where a family company has cash in the bank but profits have been adversely affected, the directors may take a short term loan to enable them to meet personal bills. This loan can be cleared with a dividend payment when busines...
Have you heard of ‘bed and breakfasting’ a director’s loan?
Directors’ loans – Beware of ‘bed and breakfasting’ It can make sense financially for directors of personal and family companies to borrow money, in the form of a director's loan, from the company, rather than from a commercial lender. Depending on when in the fina...
Latest News Items
Categories
At Arthur Boyd and Company we pride ourselves on providing a hands on and personal approach, specifically tailored to your individual needs. To find out how we can help, contact us today for a trusted consultation.
"*" indicates required fields