Home For accounting professionals General accounting discussion
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚


Overdrawn DLA

burgburg Experienced MentorGloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,441
Just looking for clarity on the following issue.

A director is appointed for LTD Co A. It emerged the director had been paying for personal items on Company credit card. Director was sacked for breach of contract, leaving a Overdrawn DLA of £10k.

The director has fled the country and recovering the money seems unlikely.

Can the amount just be written off so as to avoid S419 tax?
Regards,

Burg
Sign In or Register to comment.