Would this constitute a directors loan?
I am currently working on the accounts of a LTD company, 1 shareholder / director.
He has used the bank account of this LTD company to pay for invoices for another company, in which he has a 50% share. The other 50% is just held by his business partner.
He has also used the bank account as his own piggy bank - and I know what I need to do as far as that is concerned - CT600A etc - BUT what I am confused with - ARE the amounts that the company has paid for, on behalf of the other company in which he has a 50% share - will this be part of his directors loan account, or is it simply a trade debtor?
Any help would be great - most info Ive looked at is informative, but just stresses the more obvious points !