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

Replies (6)

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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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