Home For accounting professionals Tax
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. 💚

Director Loan Account Write Off - treatment in the tax return

AJWHELANAJWHELAN Registered Posts: 1
Can I kindly ask if anyone has ever recorded a written off DLA balance in a recent self-assessment return? I say recent, because I know the forms change over time.
Income assessable under s415(1)(b) ITTOIA 2005 - my understanding is that it is a distribution, and therefore would be taxed under the dividend rates. However, it is not a dividend and I have no idea how to get the income figure into the return.
One suggestion is to use box 17, other taxable income, but our software only taxes that at the standard income rates and we cannot find a way to override it.
Any information would be gratefully received. Many thanks
Sign In or Register to comment.