A director has taken a loan, £30k for a few months, repayment was within the corporation tax year. If interest is not paid within the year is this a benefit to reported on P11d? Will payment of interest at the official rate, mean that it is not a BIK? The company is a micro entity and does not have any employees.
21st Mar 2019
Intrest on Directors Loan account
Is payment of interest required if loan is repaid within the Tax and financial year
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