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What exactly is a manager’s loan & just how do they work?

What exactly is a manager’s loan & just how do they work?

Exactly exactly How quickly should I repay a director’s loan?

A director’s loan must certanly be paid back within nine months and another time associated with company’s year-end, or else you will face a tax penalty that is heavy. Any unpaid stability at that time should be susceptible to a 32.5 per cent corporation taxation cost (referred to as S455 tax). Happily, it is possible to claim this tax back when the loan is fully repaid – however, this is a long process.
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