Client has gone bankrupt, which began in July 2017. Included in the bankruptcy was an overdrawn comapny loan, which will not be repaid. Client is a shareholder, but not a director. No S455 tax has currently been paid on the loan. Company is no longer trading, and the only liability will be an outstanding corp tax.
As a result of the bankruptcy, can the DLA be written off as impaired without a corresponding deemed dividend? If so, does the S455 tax not have to be submitted on the company return and just shown as written off?