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
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