Directors Loans / 1 posts found

How to Borrow From your Own Company without Falling Foul of the Law

by M Tombs
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A number of company directors receive loans from their companies, either to reinvest in the business or for personal use. Until recently the laws surrounding such a transaction have been stringent. However, from the 6th of April 2014 things have changed, albeit for the better, making it easier to take loans from your own company. This article will briefly cover the rules pre-April 2014 and then the new changes. The Rules Pre-April 2014 Previously when an employee of a company received an interest free or a very "cheap" loan it could be treated as a taxable benefit. The interest rate [...]