Loan to participators on CT600

Loan to participators on CT600

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Two directors of the same company - one director with outstanding loan of over £5k, other one less than £5k.  Do I need to report the less than £5k director on the CT600?

Cheers,

Alfie

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Image is of a pin up style woman in a red dress with some of her skirt caught in the filing cabinet. She looks surprised.
By Monsoon
30th Nov 2011 10:55

£5k is irrelevant for CT600

CT600 cares about loans to participators (the directors are shareholders, right?). If they are outstanding more than 9 months after the year end, they need to go on the CT600.

 

The £5k limit applies to the BIK on loan interest. Nothing to do with CT.

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By dna_accounts
30th Nov 2011 11:09

Thanks...

...I'll engage my brain a little earlier next time...

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