Paying off DLA

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Rachel
Rachel Registered Posts: 348 Dedicated contributor 🦉
in General accounting discussion
Hello

Client has overdrawn DLA. They want to introduce personally owned assets, that the business used. However, HMRC says that the loan can only be paid by cash or dividend. Can they get paid in cash for the assets and then repay the DLA immediately?

Any advice gratefully received.

Thanks

Rachel

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