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
Replies (2)
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£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.