For a loan the director owes the company (an overdrawn loan account). Updates live.
Repay within 9 months & 1 day of your company year-end to avoid S455 tax.
Used for the benefit-in-kind on loans over £10,000. Check the current rate on GOV.UK.
Estimated tax cost
S455 is refundable once the loan is repaid (nine months after the end of the accounting period in which you repay it).
| Loan | Tax cost | |
|---|---|---|