Directors’ Loan Accounts - A Bitesized Guide

Introduction

This webinar will cover the key points relating to directors’ loan accounts from interest free loans to traditional traps, new traps and looking to the future.

What You Will Learn

This short webinar will cover the following:

• Interest-free/low interest loans - traditionally really cheap but as official interest rate rises…
• Traditional traps
• £10k at any point in the tax year, it’s all chargeable
• Highest value on the day
• New traps
• Get-out for commercial rates likely to be tested more carefully
• If interest would be wholly deductible… residential property loans
• Elephant in the room
• S455 tax
• Bed & breakfasting
• Get-out for taxed income
• NICS/tax
• Loan or advance?
• Payment on account of earnings
• No chance if it’s in credit
• Looking to the future
• Making Tax Digital/further disclosures - HMRC’s burgeoning information powers
• Loan write-offs

This webinar was recorded on 4th August 2023

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