Course description
This webinar will cover the key points relating to directors’ loan accounts from interest free loans to traditional traps, new traps and looking to the future.
Presented by Lee Sharpe, a Chartered Tax Adviser and tax consultant with over twenty years’ experience, the topics discussed will include interest rate rises, get-out for commercial rates, residential property loans, and S455 tax. Bed & breakfasting will also be discussed, along with get-out for taxed income, Making Tax Digital/further disclosures, loan write-offs, and more.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
This webinar will cover the key points relating to directors’ loan accounts from interest free loans to traditional traps, new traps and looking to the future.
What You Will Learn
This short webinar will cover the following:
- Interest-free/low interest loans - traditionally really cheap but as official interest rate rises…
- Traditional traps
- £10k at any point in the tax year, it’s all chargeable
- Highest value on the day
- New traps
- Get-out for commercial rates likely to be tested more carefully
- If interest would be wholly deductible… residential property loans
- Elephant in the room
- S455 tax
- Bed & breakfasting
- Get-out for taxed income
- NICS/tax
- Loan or advance?
- Payment on account of earnings
- No chance if it’s in credit
- Looking to the future
- Making Tax Digital/further disclosures - HMRC’s burgeoning information powers
- Loan write-offs
Expenses
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