Bed and breakfasting rules

‘Bed and Breakfasting Rules’ – Director’s Loan Account – Borrowing, Repaying and then Borrowing Again – ‘Arrangements’

Throughout an accounting period, a director will withdraw monies from the company against the director’s loan account (DLA), the withdrawals being satisfied usually by the taking of a salary and/or bonus) and/or dividends (dividends being preferable as no NICs are payable) or by repaying the monies withdrawn. However, by the end of that period, it …

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