Pro-Taxman

Company loan

Be careful when borrowing money from your company as a director – you might fall foul of the ‘bed and breakfasting’ scenario

Directors’ loans – Beware of ‘bed and breakfasting’ It can make sense financially for directors of personal and family companies to borrow money from the company rather than from a commercial lender. Depending on when in the financial year the loan is taken out, it is possible to borrow up to £10,000 for up to …

Be careful when borrowing money from your company as a director – you might fall foul of the ‘bed and breakfasting’ scenario Read More »