When I was dealing with the management of a Director's Loan Account a few years ago I used to make sure that the account never went more than 5k in deficit, I think to avoid the creation of a beneficial loan.
Looking at current HMRC guidance I can't find any reference to the 5k
limit, have things changed?:
I note the requirement to ensure that any deficit is made up no later
than 9 months after the year end.
- posted 6 years ago