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Claiming back corporation tax on an overdue director’s loan

Claiming back corporation tax on an overdue director’s loan

A director’s loan must be repaid within nine months and one day of the company’s year-end, or you will face a heavy tax penalty. Any unpaid balance at that time will be subject to a 32.5 per cent corporation tax charge (known as S455 tax). Fortunately, you can claim this tax back once the loan is fully repaid – however, this can be a lengthy process.

If you have taken longer than nine months and one day to repay your director’s loan and have been charged corporation tax on the unpaid amount, you can claim this tax back nine months after the end of the accounting period in which you cleared the debt. This is a long time to wait and the process can be onerous, so it’s best to ensure you don’t end up in this position.

One possible workaround is to put off paying your company’s corporation tax until your director’s loan is repaid. Your corporation tax payment deadline is nine months after your financial year end, which can give you extra time to repay the loan.

Can I repay a director’s loan and then take out another one?

You have to wait a minimum of 30 days between repaying one loan and taking out another. Some directors try to avoid the corporation tax penalties of late repayment by paying off one loan just before the nine-month deadline, only to take out a new one. …

Get instant approval for emergency funding with a personal loan

Get instant approval for emergency funding with a personal loan


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No matter how prepared you are, you may not always have the money to cover every expense in an emergency. This is why it is unwise to only depend on your savings or emergency funds. Shortfalls in a crisis only worsen things as they can disrupt other parts of your finances, such as ongoing investments. In such cases, it is best to opt for an emergency loan to access a surplus of funds. An emergency personal loan will ensure complete security to your finances during emergencies and ensure that your need for urgent money is fulfilled quickly. Also, being an unsecured loan, you get prompt access without risking your assets.

However, when choosing an offering, you must pick one you can rely on. The Bajaj Finserv Emergency Loan is the option to go with for a hassle-free and quick borrowing experience. Here, you get a high-value, collateral-free emergency loan and enjoy benefits such as instant approval, minimal documentation and more. You can spend the sanction in any way you wish and finance all kinds of emergency expenses. Bajaj Finserv offers a digital application process with approval in 5 minutes if you meet the personal loan eligibility criteria.

Read on to know how this instant personal emergency loan from Bajaj Finserv can help you remedy unexpected and emergency expenses instantly.

Get quick access to funds as a pre-approved customer when in need of urgent moneyBajaj Finserv offers an instant emergency personal loan that you can access online with just a few clicks. As a pre-approved customer, you can avail of this financing option in just a few minutes. …

Once you put out a personal loan request, you will get matched up with lenders

Once you put out a personal loan request, you will get matched up with lenders

How low your credit score is will determine the types of bad credit loans you are going to get

We have given you this list of marketplaces to find money lenders because we know they are credible and being their customer means being safe and satisfied with their money. For people who want to do their own research, that means you can still sign up and make accounts with these companies.

Different companies work with different lenders. And different lenders have different terms and conditions for their personal loans. We recommend signing up with a few different marketplaces and browsing through your options with each one of them. …

The quick loans we help customers find should only be used for essential purposes, such as:

The quick loans we help customers find should only be used for essential purposes, such as:

  • Speed. You can access multiple lenders with one online application. Rather than filling out application forms on several lender sites, you can complete one application form with CashLady and we will present it to over 30 lenders for an instant decision.
  • Protect your credit score. If you were to complete multiple applications on various direct lender https://www.paydayloansohio.net/cities/bryan/ sites, this could result in multiple hard credit checks which can damage your credit score. We only conduct a soft credit check which has no impact on your credit file, so you can find out if you are likely to be accepted for a loan with no detriment to your credit report.
  • We instantly match your application with the lender most likely to accept, saving you time and energy.

Responsible Borrowing and Lending

The loans we help customers find are for smaller amounts of money and are intended to be paid out quickly in order to solve a short-term financial problem. As a result, the loan for a greater value that would traditionally have been procured from a high street bank or building society.

The direct lenders we work with will always carry out an affordability assessment as well as other checks (such as a review of your credit file), to ensure they believe you will be able to repay your loan instalments. …