Director's Loan account and Entrepreneur's Relief

Director's Loan account and 'Trading Status' for Entrepreneur's Relief

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Does anyone have any experience of HMRC challenging the trading status (for ER purposes) of an otherwise clearly trading company solely because of the existence of a one-off (couple of years ago) overdrawn director's loan (which was repaid within 9 months of the year-end)? Thanks

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Psycho
By Wilson Philips
06th Apr 2019 09:22

I think that I can confidently say that the answer to your question will be “no”.

If HMRC are seriously resisting ER on that basis it sounds like one to have a bit of fun with.

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