Credit Directors Loan Account and Company Closing | AccountingWEB

Credit Directors Loan Account and Company Closing

I have a client that is a Director of a Limited Company, he is owed money from the company through a Directors Loan Account for set up costs and tools as this is only his second year trading.

He has decided to close the company and it does not have sufficient funds to repay himself the balance outstanding on the DLA, even after selling all items that he can, so can he claim the outstanding balance as an unclaimed expense through the employment section for this Ltd company of his Self Assessment, so at least he getsĀ 20% of the loss backĀ as he is paying tax through another employment?

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No - this would not be an

eastangliantaxadvisor |
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