Tag: Tax Increase

As of 6 April 2016 the tax payable on overdrawn director’s loan accounts increased from a rate of 25% to 32.5%. A director’s loan occurs when a director or participator takes money from the company which is not a salary, a dividend nor an expense repayment. Reversely, directors can loan money to the company which … Continue reading Reminder: Increased Tax on Director’s Loan Accounts