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)