A client has a directors loan account with multiple debits of a few pounds to a few thousand pounds and credits for monthly net pay and dividends when results allow (properly documented and credited to the DLA rather than paid out and repaid).
The YE is 31/03/19 and the DLA was first overdrawn by a few pounds in Sept 18 with a daily roller coaster balance ending up at £25k o/d 31/03/19 (BIK reported). The position for this year based on management accounts to 30/11/19 is similar with a balance of £23k o/d at this point (I expect that further amounts will have been debited in December 19) so I consider the 31/03/19 to be fully chargeable at 32.5%. The balance has not been back in credit at any point since Sept 18.
The client is aware of the implications of this and should have the loan cleared at some point mid 2020.
I use TaxFiler. Can I enter 1 line in Taxfiler showing the loan date as the first point at which it was overdrawn but the total balance at the year end subject to the charge or something else?