Directors Loan Accounts

Are you a company director?

If so, what was the balance of your account with the company at its last year end? If the company owes you money, that is fine. If you owed money to the company at the last year end, and that is less than 9 months ago, consider ways in which you can repay that balance and avoid the tax consequences on you and the company.

Ways to clear your overdrawn balance might include:

Can you declare a dividend?

Can you pay yourself a bonus?

Do you have any expenses not yet claimed?

Can you charge the company a rent?

Alternatively you can just repay the money to the company out of your own personal funds.

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