Advice about director loans
Drawings and other benefits provided to directors are often recorded as loans to directors or ‘Director Loans’. If a liquidator or administrator is appointed, he or she may claim that sum from the directors personally as a debt due to the company.
There are also tax consequences of the Director’s Loans which are subject to tax when not paid within specified periods. HMRC have taken an aggressive stance on such loans.
If you’ve taken a director loan, you may need professional advice.
We will look at the claim(s) from the insolvency practitioner and advise you whether or not we think the claim is valid. We can do this by discussing the claim with specialist insolvency accountants that we work with from time to time.
Who we help
- Company directors of SMEs
- Company directors of public limited companies
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