Budget 2016 Loans to shareholders in private companies
Where a private company makes a loan to a shareholder it currently has to pay a tax deposit at 25% of the loan to HMRC, refundable when the loan is repaid or written off. For advances from 6 April 2016 the rate of tax chargeable will rise to 32.5% in line with the changes to dividend rates.
Date: 16th March, 2016
Articles from this Author
20th July, 2017
Uncertain times for winding up transactions
3rd July, 2017
9th June, 2017
27th April, 2017
Government places Making Tax Digital legislation on hold
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole