Overdrawn directors loan accounts

Overdrawn directors loan accounts

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An individual owns two trading companies and is director of both.

Can he overdraw his director's loan account by £5k, at each company, without breaching the £5k HMRC exemption for benefit in kind purposes etc. Both balances will be cleared within 9 months of year end so no s.419 tax.

Or do you have lump together associated companies for this purpose?
Joe

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