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 !
- Gift aid procedure please? 48 1
- US tax form 1099 (misc?) 70 1
- Cash gift from India 463 13
- last minute request 103 2
- GP ACCOUNTS 53 1
- Write an article on latest tax changes for landlords. 364 16
- Stamp Duty based on Exchange or Completion Date 51 2
- Re-Training costs - tax reief 197 6
- VAT - Check on clients business 1,116 44
- Maternity and claining expenses 635 6
- Overseas workday relief 133 5
- HMRC now overriding SA bank repayment details on tax returns 255 3
- Is self-employment "another job" for PAYE 655 13
- Taxation of sinking fund contributions 87 1
- MVL 251 4
- Disengagement Help! 1,489 22
- Is it possible to link documents into transactions in Sage? 116 2
- Creative Auto Enrolment 731 11
- Change PAYE agent address 198 2
- Entrepreneurs relief after enhancement 87 1