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 !
- So who has completed a 2015 tax return then? 640 14
- Should a non trustee sign Scottish charity accounts? 181 1
- Your comments please 120 3
- Ordering same-day transactions 73 2
- As a soletrader taxi service, would purchasing low emissions taxi-cars qualify for AIA capital allowance? 166 2
- VAT on Royal Mail Parcel Services 34 1
- Closing my business down 303 20
- Is there any good reading I can obtain to do self assesment on partnerships? 104 1
- Recording Calls 46 1
- CGT history of shares 79 1
- Accounting for reversed transaction 63 1
- Scams are not always obvious 2,271 37
- Auto Enrolment - Director Only Answer 1,490 21
- What do you all do in your spare time? 910 36
- Charity requirements to report ALL I&E in accounts 70 1
- VAT flat rate scheme 157 2
- CIS Subcontractor Catch Twenty Two Position after 14 years 246 3
- How do we get US withholding tax back? 249 4
- VAT on long lease in comercial property that has opted to Tax 200 6
- Director - earning less than £8500 and no taxable benefits - PllD? 162 1
- Moving away from CCH software 959
- QROP pension input amounts 446
- write off loan or loan to equity swap or both 389
- HMRC BENCHMARK EXPENSES 368
- fraud 292
- EIS relief on transferring shares to spouse 265
- Sole trade business in UK, but the owner works from EU 234
- Construction CIS LLP Company 218
- EPS and CIS deductions 210
- Out of time or not? 191