New tax procedure for Directors Loans (s 455)
Print 🖨 Its very common in Small Businesses for the Directors Loan account to be overdrawn creating a Directors Loan. If the loan isn’t repaid within 9 months of year end the company will pay temporary additional Corporation Tax at the rate of 25% on the balance outstanding. Section 455 CTA 2010 liabilities must be … Continue reading New tax procedure for Directors Loans (s 455)
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