News Archive for: Corporation Tax

Up-to-date tax news and articles that explore your tax efficiency.

Director’s loans – what you might not know

In April 2014 the rules with regards to director’s loan accounts changed. Previously each director could have an outstanding loan which if it didn’t reach or surpass £5,000 during the tax year then no benefit in kind tax would be charged. If the loan did surpass £5,000 then the director would be seen as enjoying a cheap loan and would have to pay a benefit in kind tax to HMRC. The changes in April have doubled this threshold to £10,000. However there is a complication. Many directors believe...

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