Course Details

This course will remind you of all of the issues relevant to dealing with director loan accounts with both debit and credit balances, covering the tax and legal aspects for the company and the director in depth. The course will cover the following areas:

 

In this session Rebecca will cover the following topics;

 

  • Debit balance loan accounts – benefit in kind issues and computations; payment of interest to cover the benefit in kind.
  • Debit balance loan accounts – tax due by the company – when and how is it declared? What are the anti-avoidance rules? Claiming back tax when the loan is repaid or written off subsequently.
  • Clearing loan accounts with salary, bonus or dividend – points to watch and traps for the unwary
  • Writing off loan accounts – what is the tax treatment and how do you deal with NIC?
  • Paying interest on credit balance loan accounts – points to watch

 

Course level: intermediate 

CPD Course Speaker

Rebecca Benneyworth Training

Rebecca Benneyworth

Rebecca is an ICAEW Chartered Accountant. She is a lecturer, writer and consultant on a variety of taxes, lecturing extensively throughout the UK, to accountants, business people and also to HMRC and the Treasury. She has her own accountancy practice based in Gloucestershire, with a variety of small business and personal tax clients.

During the last two years, this has become a 100% digital practice. She is Chair of the HMRC Digital Advisory Group, providing help and support to HMRC in understanding the challenges that Making Tax Digital presents to small businesses and their advisers.

She is also a member of the Admin Burdens Advisory Board, an independent advisory group to HMRC monitoring the burdens which the tax system imposes on businesses.