Director Loan to a Company

EleanorHEleanorH New MemberRegistered Posts: 5
Im just about to start a Self Assessment for a Director who had made a loan to the company of 40k, just looked on HMRC website for the answer!! Is there any relief she can claim? Many thanks in advance for your help.

Comments

  • PsychePsyche Well-Known Registered Posts: 187
    There's no tax deduction for lending money to your own company. However, in the future she can pay herself out of the director's loan and in essence have some income to herself tax free. Sorry this does not help her now!
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