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Outstanding DLA question

Is there anyway to avoid S455?

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Two property "businesses"  - one a company with 2 Directors holding a few properties, the other the same 2 individuals holding a number of properties in their own joint names  - if the company makes a substantial loan to the other "business" is there any way the company will avoid a S455 charge?

clutching at straws

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By Accountant A
10th Oct 2019 15:14

The best way is to engage an accountant and not post anonymously contrary to the rules of the site (reproduced below for your convenience).

"Please note that posting as an anonymous user is reserved for sensitive content that you need help with but don't want people to know who you are.

However, it will also mean that other users will not be able to get in touch with you or see your history on the site and therefor might not be as willing to provide you with a reply.

Any abuse of the ability to publish anonymously will not be tolerated and offending users will be banned from AccountingWEB."

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By johnthegood
10th Oct 2019 15:33

wow, friendly! If it means that much to you I shall reveal my identity!!

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Replying to johnthegood:
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By Accountant A
10th Oct 2019 16:18

Quote:

wow, friendly! If it means that much to you I shall reveal my identity!!

Well done. Now follow the second part of my advice and engage an accountant.

EDIT: You appear to have previous for misusing the anonymous facility. I don't think it helps your cause, whatever that is:

https://www.accountingweb.co.uk/any-answers/box-on-satr-for-employment-i...

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By Adam12345
10th Oct 2019 15:37

Yes. You can avoid s455 by not making the loan in the first place.

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Replying to Adam12345:
Psycho
By Wilson Philips
10th Oct 2019 16:27

Or repaying it within 9 months of the year end. Or writing it off. Or ...

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By Justin Bryant
11th Oct 2019 14:24

You could try this bloke: http://www.snadvisory.com/our-team.html

Or perhaps move the company's residence to, say, Cyprus or try selling a dormant company with an IOU to the s455 company like in the link below:

https://www.taxationweb.co.uk/forum/non-cash-consideration-for-shares-pe...

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Replying to Justin Bryant:
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By Adam12345
10th Oct 2019 17:27

Ah, the promoter of the Liberty Tax Scheme that was defeated by HMRC!

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By Duggimon
11th Oct 2019 14:00

I would say this was a fairly average DLA question, not in any way outstanding, 6/10.

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Replying to Duggimon:
By SteLacca
11th Oct 2019 14:42

I find MoneySoft Payroll Manager is similarly misguided about my "outstanding" RTI submissions, which I always thought were rather "Bleh!"

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