accountants

Overdrawn directors loan account

Ask DS Accountancy: What are the tax implications of an overdrawn director’s loan account?

We are often asked what needs to be considered regarding company law and tax when a director of a limited company goes overdrawn on their loan account. While going overdrawn on a loan account is not a problem in itself, there are a number of things to consider before doing so. Seeking approval from the…
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