Director’s loan accounts explained

[@oluwadaresamueloketade9781]

Thanks for this explanations it really helpful. But my question is if the director's loan has a credit balance in the previous year, and debit balance in current year or vice versa. What would be the effect in financial statement.
Thanks

[@accountantshe]

Hi, a credit on the balance sheet is a liability and a debit on the balance sheet is an asset :)

[@ukpipeline]

Very helpful and clearly explained. Thank you for posting.

[@accountantshe]

Thank you for your feedback!

[@wickramadesilva3855]

Can we settle the DLA with any dividends due?

[@wisdom_wellness365]

Very nice! I like it!

[@accountantshe]

Thanks for watching!

[@HereAndCurious]

Hello Rachel,
What does one do if a Director withdraws over £200K from the company and hasn’t repaid it for over 9 months ? Thanks

[@innerstandin_wil]

Hi have you gotten a solution to this I am looking fir same thing

[@reedee5306]

Must pay CT on this

[@Nattystrong]

Then the company has to decide to declare this £200k as a dividend and to pay dividend tax.

[@sharpfocusproductions]

Very helpful! Thank you!

[@accountantshe]

Glad it was helpful!

[@WendyFTBC]

How do Director's loans differ from Shareholder loans?

[@azizmesser1562]

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