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Thanks for this explanations it really helpful. But my question is if the director's loan has a credit balance in the previous year, and debit balance in current year or vice versa. What would be the effect in financial statement. Thanks
Hi, a credit on the balance sheet is a liability and a debit on the balance sheet is an asset :)
Can we settle the DLA with any dividends due?
Very helpful and clearly explained. Thank you for posting.
Thank you for your feedback!
How do Director's loans differ from Shareholder loans?
Hello Rachel, What does one do if a Director withdraws over £200K from the company and hasn’t repaid it for over 9 months ? Thanks
Hi have you gotten a solution to this I am looking fir same thing
Must pay CT on this
Then the company has to decide to declare this £200k as a dividend and to pay dividend tax.
Very helpful! Thank you!
Glad it was helpful!
Very nice! I like it!
Thanks for watching!
🎊 𝔭𝔯𝔬𝔪𝔬𝔰𝔪
Thanks for this explanations it really helpful. But my question is if the director's loan has a credit balance in the previous year, and debit balance in current year or vice versa. What would be the effect in financial statement.
Thanks
Hi, a credit on the balance sheet is a liability and a debit on the balance sheet is an asset :)
Can we settle the DLA with any dividends due?
Very helpful and clearly explained. Thank you for posting.
Thank you for your feedback!
How do Director's loans differ from Shareholder loans?
Hello Rachel,
What does one do if a Director withdraws over £200K from the company and hasn’t repaid it for over 9 months ? Thanks
Hi have you gotten a solution to this I am looking fir same thing
Must pay CT on this
Then the company has to decide to declare this £200k as a dividend and to pay dividend tax.
Very helpful! Thank you!
Glad it was helpful!
Very nice! I like it!
Thanks for watching!
🎊 𝔭𝔯𝔬𝔪𝔬𝔰𝔪