Transferring Directors Loan Account Balances

Transferring Directors Loan Account Balances

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Is it possible within a Limited Company to transfer balances on one Directors Loan account to another Director?

If so how could it be done and what would the tax consequences be for the Company and the Directors?

Would it make any difference if the Directors were related (eg husband and wife) or unrelated?

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By johngroganjga
04th Aug 2015 11:18

Yes of course, but needless to say only with the agreement of both parties.

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