Director's Loan Account


F

fred

When I was dealing with the management of a Director's Loan Account a
few years ago I used to make sure that the account never went more than
5k in deficit, I think to avoid the creation of a beneficial loan.

Looking at current HMRC guidance I can't find any reference to the 5k
limit, have things changed?:

http://www.hmrc.gov.uk/ct/managing/director-loan.htm

I note the requirement to ensure that any deficit is made up no later
than 9 months after the year end.
 
F

fred

I think you may have had in mind the £5,000 limit which arises from the
beneficial loans legislation. See eg
http://www.hmrc.gov.uk/agents/toolkits/dla.pdf page 11
That's the ref I was looking for, thank you.

Strange to find the main ref in just a toolkit but understood that my
link to DLA guidance was primarily for Corporation Tax.

I'll make sure our bases are covered.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top