Keeping you up to date with the latest news and happenings in the worlds of accounting, tax and insolvency
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...
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