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 !
- VAT on Hire Purchase 157 2
- "Audit Report" 56 1
- IR35 deemed payment and dividends - practical considerations 125 1
- Annual tax investigation cover fee? 464 13
- Coding Notice 225 6
- UK company paying dividend to foreign shareholder 237 6
- New business - journal entries 401 22
- Is CGT roll over relief available for let property 221 3
- Payroll software 643 16
- Statutory accounts, current company address, or one that was correct at EOY? 260 5
- Are there Special Rules for Agencies? 396 10
- 100% Annual investment allowance on luxury cars 730 18
- B2B vat in the EU 185 4
- Samadian effect on self employed student support workers 197 4
- Changes to class 2 NIC's 226 3
- Client RTI Shows payments not his 192 4
- LLP as member of LLP 135 1
- Why should I retain membership? 2,830 48
- Alerting clients versus walking away from clients 509 7
- Vat 305 7
- Auto enrolment excuses 858
- Feedback on accounts production software for IFRS 718
- Add T&Cs to Sales Order in Sage 406
- Social investment tax relief 219
- Digita Hosted Software 213
- Call Centre Data Costs 200
- accounting for this transaction 188
- Buying goods in US and selling them to company in US 171
- Travel costs and contractors 166
- Problems with Sage 50 Payroll v21(2015) 161