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Posts tagged “Loans”

I wrote recently about Tax Avoidance Schemes to remind you of the basics. Now to appraise you of the developments this year, including the new legislation giving HMRC more power to tackle this tax avoidance. 
If you need to borrow money from your limited company, you can do so with an interest-free, or low-interest Director’s Loan. So long as the company isn’t in financial difficulty, shareholders have offered approval, and the board have agreed on the terms, a director’s loan can be a very cost effective way of borrowing money. However, there are two common pitfalls you’ll want to avoid: paying additional Corporation Tax and Benefit in Kind Tax. 
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