Directors' Loan Accounts - Making the Tax Rules Work for You
A Tips & Advice Special Report about...
In a nutshell
Fully up to date with recent changes, this Special Report explains how to manage loan account transactions in the most tax-efficient ways. You’ll find ready-to-apply solutions to deal with the tricky loan account rules that ensure tax is not paid unnecessarily.
In plain English, this Special Report covers:
- Loan-related tax charges
- What the different tax charges are
- When the s.455 charge applies to companies
- When the benefit in kind charge applies to directors
- What "conferring a benefit" on a participator means
- Reporting to HMRC
- When you need to tell HMRC about the loan
- How to report loan account transactions
- How to account for s.455 tax
- Avoiding the tax charges
- How and when to repay or clear a loan
- What the repayment options are
- Optimising your tax-planning strategy
Transactions between directors and their companies have always been a prime target for HMRC. And the rules have become increasingly complicated in recent years, making tax charges difficult to avoid. This Special Report offers you a series of legitimate ways to avoid tax. It's outstanding value for money.
We've created this Tips & Advice Special Report especially for...
Company directors that want to:
- Tax-efficiently manage their loan account transactions
Tax advisors, bookkeepers and accountants that want to:
- Determine the best tax-saving strategy for their clients
You'll get the following free extras with this Tips & Advice Special Report...
An online service with ready-to-use documents
- To immediately apply our advice and solutions in practice
- That you can easily adapt to suit your own requirements
In this Tips & Advice Special Report you'll read about...
Table of contents
1. Loan-related tax charges applying to companies
2. Loans by close companies
3. Tax charge on loans to participators (s.455 charge)
4. Reporting to HMRC and accounting for s.455 tax
5. Benefit in kind charge on outstanding loan
6. Repaying or otherwise clearing the loan
7. Arrangements “conferring a benefit” on a participator
8. Tax planning
9. Tax terms that apply to company loans
Director’s loan account record
Director’s loan account write-off letter
Director’s loan agreement
Interest payable on loan account minute
Resolution of general meeting to approve a loan to a director
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