Am I correct in thinking that there is no P11D issues if the loan is below £5000? I understand that if this amount is still outstanding 9 months after the end of the financial year that 25% will be payable. If the loan is not repaid by a dividend and is written off, I assume tax and ni payable. Could someone please tell me if this is correct.
jm
4th Apr 2006
0
Directors loan overdrawn
Directors loan overdrawn