Accounting entries for s419

Posted by Jacq_Maud PM | on Fri, 21/12/2012 - 06:36 1646 32 comments | report

Hi I have acquired a client with a bf overdrawn directors loan account. It has increased during the year and still remains outstanding 9 months after year end. The bf figures include the overdrawn loan account and associated section 419 in Debtors. What are the accounting entries in respect of the increase. Assuming Dr debtors with increase section 419 and credit corporation tax with same amount in creditors? Also does the debtor for reclaiming section 419 stay in debtors indefinitely until the loan is repaid? Finally are there any national insurance implications?

Many Thanksk

Comments

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The accounting entires must be....

cparker87 | Fri, 21/12/2012 - 08:01

Might be worth mentioning ...

nogammonsinanundoubledgame | Fri, 21/12/2012 - 09:09

section 455

Jacq_Maud | Fri, 21/12/2012 - 09:26

Letter.

nogammonsinanundoubledgame | Fri, 21/12/2012 - 09:49

for what it's worth....

stephenkendrew | Fri, 21/12/2012 - 10:03

s455

Jacq_Maud | Fri, 21/12/2012 - 10:42

Euan does indeed agree with cparker

Euan MacLennan | Fri, 21/12/2012 - 11:05

Consistency

DMGbus | Fri, 21/12/2012 - 13:09

I'm only a carrot but...

secondhand_22 | Fri, 21/12/2012 - 22:36

Timing

DMGbus | Fri, 21/12/2012 - 23:06

No P&L hit

secondhand_22 | Fri, 21/12/2012 - 23:21

Should be a double sided

Sheepy306 | Tue, 25/12/2012 - 00:32

Contingent Asset

Euan MacLennan | Thu, 27/12/2012 - 13:08

Round in circles

nogammonsinanundoubledgame | Thu, 27/12/2012 - 17:55

So why isn''t DCA a contingent asset?

stepurhan | Fri, 28/12/2012 - 08:57

Director's discretion

Euan MacLennan | Fri, 28/12/2012 - 13:48

going round in circles here

Tonykelly | Fri, 28/12/2012 - 14:22

@TonyKelly

Euan MacLennan | Sat, 29/12/2012 - 14:24

OK Euan, you win, I am going to take your advice,

Tonykelly | Sat, 29/12/2012 - 16:19

New Years Day or Groundhog Day?

BKD | Sat, 29/12/2012 - 19:20

1 Question

nogammonsinanundoubledgame | Wed, 02/01/2013 - 17:34

1 Answer

Euan MacLennan | Wed, 02/01/2013 - 18:18

That works for me

nogammonsinanundoubledgame | Wed, 02/01/2013 - 18:53

the problem is this and this alone

Tonykelly | Wed, 02/01/2013 - 20:10

Well said Tonykelly

Chris Smail | Wed, 02/01/2013 - 20:57

Muddled thinking

Euan MacLennan | Thu, 03/01/2013 - 12:26

@ Euan

mbdx7ja2 | Thu, 03/01/2013 - 12:45

@ Euan - I am afraid that you are the one that is muddled

Tonykelly | Thu, 03/01/2013 - 13:27

@mbdx7ja2

Euan MacLennan | Thu, 03/01/2013 - 13:32

@Tonykelly

Euan MacLennan | Thu, 03/01/2013 - 13:36

@ Euan

mbdx7ja2 | Thu, 03/01/2013 - 14:17

Listen, Euan, you seem to be taking this the wrong way

Tonykelly | Fri, 04/01/2013 - 11:54