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 !
- Would this save hours of your time? 367 9
- Wrong career 422 18
- Laptop purchase 1,352 20
- PTP software disaster 221 2
- Producing graphical KPI's etc 155 4
- CIS repayment shambles finally over? 202 2
- Treatment of EU Purchases on Sage 88 2
- Director's tax return 191 3
- Tricky VAT question 135 1
- RTI Annual Scheme Query 101 2
- MONEYSOFT - EARLIER YEAR UPDATE 229 6
- VT accounts licence key 234 5
- Weely paid employees 211 2
- Splitting the tax year 80 1
- FPS Submission 133 2
- Value pricing 638 20
- non resident receiving UK dividends 205 3
- P11d & Medical Ins 127 1
- vat return 221 1
- Underpaid National Insurance 174 3
- Residential Property Purchase Above £750K 789
- Using Sage with Sofa Categories 545
- Does anyone have an unwanted ICAEW wooden plaque? 409
- Goods shipped inter EU and VAT Reporting 291
- Free Tax Legislation? 253
- Non-Resident Director - UK Tax Position? 235
- Director Loan account operation 233
- transferring simply accounting 2010 from xp to windows 7 230
- Sage 200 and Access Dimensions reviews 224
- Paye procedures for CVA 159