UK How will a director's loan be taxed?

[JohnSmith13]

How will a loan of £1500 taken from the company (and not paid back withinn 9 months of YE) by the director be taxed?

Does it need to be included as a Corporataion Tax payabale on the accounts on the year the loan was actually taken?

Note: Director is also shareholder

 

[TDRTax]

If only £1,500 the directors loan will be taxed under S455 CTA at 32.5%. As and when the loan is repaid, the S455 tax can be reclaimed. For absolute clarity, S455 is charged on a loan to a participator, and not a director, so it is the shareholder aspect that is important here.

Provided the loan remains below £10,000 throughout the tax year there is no benefit in kind on the director personally.