Documents related to 'Election to aggregate employer loans'
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Director's loan account write-off letterAn overdrawn director's loan account can be cleared by the company if the directors or shareholders agree to write the loan off. However, it must get the paperwork right.Reporting requirementsWhere a director or ... Read more
21 Mar 2014
Election for pre-trading debitsCosts incurred on financing your company, e.g. loan interest, before it starts to trade are classed as non-trading debits. Normally, tax relief for these can only be obtained by offsetting them against non-trading cre... Read more
22 Dec 2017
Company director's loan agreementYour company has agreed to make a loan to one of the directors. Use our model loan agreement to get the terms agreed in writing.Helping handLoans to directors are permitted, as long as the shareholders are given basic ... Read more
24 Oct 2018
Alternative interest calculation method letterWhere an employer provides a cheap rate or interest-free loan there's more than one way to work out the taxable benefit - the normal averaging method or the alternative precise method. The normal method a... Read more
01 Sep 2010
Certificate of annual interest and tax deductedIf your company pays annual interest to an individual it must deduct income tax first and provide a corresponding certificate. certificateInterest is annual if it relates to a debt capable of lasting for... Read more
01 Nov 2022
Election for land remediation reliefLand remediation relief gives an enhanced deduction for qualifying revenue expenditure spent on bringing land back into use in some circumstances. Use our template letter to treat capital costs as qualifying.Relief... Read more
13 Jul 2017
Interest payable on loan account minuteWhere a director's loan account is in credit, the board can agree to pay interest on the balance. This should be recorded in a board minute.When to use this board minuteIt's advisable to set out the terms and cond... Read more
21 Mar 2014
Election for share value to ignore restrictionsIf shares are acquired because of an individual's employment, they are liable to an income tax charge on the difference between the market value of the shares and the price paid by an employee, but specia... Read more
12 Apr 2017
