Director’s loan accounts explained

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Күн бұрын

Director’s loan accounts explained, what is a director's loan account, how to use my director's loan account, can I take a loan from my business, who can take director's loans, do I pay tax on my directors loan, when do I need to repay my directors loan
0:00 Timestamps
1:16 What are director’s loan accounts?
2:54 What should a director’s loan account include?
3:31 Who can take a director’s loan?
3:41 Why would you want to take a loan?
4:19 Do I need to record director’s loans?
4:50 When will I have to pay tax on a director’s loan?
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Пікірлер: 15

@ukpipeline 2 жыл бұрын

Very helpful and clearly explained. Thank you for posting.

@accountantshe Жыл бұрын

Thank you for your feedback!

@sharpfocusproductions Жыл бұрын

Very helpful! Thank you!

@accountantshe Жыл бұрын

Glad it was helpful!

@wisdom_wellness365 10 ай бұрын

Very nice! I like it!

@accountantshe 10 ай бұрын

Thanks for watching!

@oluwadaresamueloketade9781 Жыл бұрын

Thanks for this explanations it really helpful. But my question is if the director's loan has a credit balance in the previous year, and debit balance in current year or vice versa. What would be the effect in financial statement. Thanks

@accountantshe Жыл бұрын

Hi, a credit on the balance sheet is a liability and a debit on the balance sheet is an asset :)