Directors Loans Explained - Don't liquidate your company until you have watched this video! скачать в хорошем качестве

Directors Loans Explained - Don't liquidate your company until you have watched this video!

and this one adding https://directorfirst.uk/?utm_campaig... https://meetings-eu1.hubspot.com/shau... One thing to check before you enter into any insolvency proceedings is your Directors Loan Account. A director’s loan account, or a DLA, is a record of transactions between the company and its directors. Any funds you draw from the company will be allocated to a director’s loan account. Similarly, any funds you introduce will create a credit on the directors’ loan account Most Directors introduce capital into a company when it is set up. This is how a director’s loan is set up. Then you may take your earnings as loans from the business and then convert them to salary and dividends at a later date. An overdrawn directors’ loan isn’t necessarily a problem if the Director can repay it or offset within 9 months of your company’s year-end This way of taking money from the company when used correctly has a number of tax advantages but if enter into an insolvency procedure it can leave you in a position where you owe the company money. If you have to place your company into liquidation that loan, then becomes repayable to the company and this is where the problem arises. Lots of Directors choose to appoint an insolvency practioner without checking this first which can be a very costly mistake. The insolvency practioner is duty bound to recover the amount of the director’s loan in full. If you have assets such as investments or property, it’s imperative that you take advice on how best to protect these before you choose to appoint a liquidator. How do we assess a Directors Loan? We will look to the last set of accounts of the company and use this as a starting point. Then we will look at all the transactions from the date of the accounts up until now totalling all the amounts paid from the company to the Director. Then we allocate any salary through the PAYE scheme, personal spending for the benefit of the company and any credits you have made back into the company personally. The Director is then left with the final balance of the Directors Loan. If the loan is overdrawn, then the Director owes the company money and we will discuss how it is to be repaid. If the Directors Loan is in credit, the company owes the Director money and they will be treated like any other creditor. If funds are recovered by the insolvency practitioner than a dividend is paid out pro rata to all creditors. If you are owed money from the company, it’s important that you don’t repay it before you go into liquidation as this could be classed as a preferential payment. What are your options if you have an overdrawn directors loan account? It’s an insolvency practioners duty to recover money on behalf of the creditor’s interests, it is our advice to all our clients to review the directors loan position in full before you appoint a liquidator and look to arrange a settlement before you go into liquidation. An insolvency practioner can make a commercial decision on how these funds are recovered, you can call us on 0800 086 2766 or send us an email at chris@directorfirst.co.uk or book a call below: https://meetings-eu1.hubspot.com/shau... https://meetings-eu1.hubspot.com/shau...