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Director Loan account on Cessation/Year End

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A limited company ceases trading on 13/1/17 and has a overdrawn DLA of £20k.

At the year end the overdrawn DLA is £40k

How or indeed does the increase in overdrawn DLA reported to HMRC?

As only the 20K will be reported on the corp tax return?

Thanks for any input

Jonathan

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By bernard michael
08th Sep 2017 15:36

If you are filing accounts as at the year end the Loan a/c will show up @£40K
I assume you mean accounting year end and not calendar

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Replying to bernard michael:
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By jonibarnes
08th Sep 2017 15:47

the accounts to cessation for hmrc show £20K overdrawn
the accounts for accounting year end due at co house show £40k

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By jonibarnes
08th Sep 2017 15:50

could i use a voluntary liquidation to wind the company up and treat the withdrawals which increased the dla as capital distributions?

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By johngroganjga
08th Sep 2017 16:24

In the next accounts, assuming it has not been repaid by then.

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By jonibarnes
09th Sep 2017 13:10

A

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By jonibarnes
09th Sep 2017 12:48

The next accounts(to normal year end & the period after cessation) will only be sent to companies house so will not be sending anything to hmrc - no corp tax return to report overdrawn dla on?

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