Why is an overdrawn director’s loan account a problem?

Why is an overdrawn director’s loan account a problem?

So you have an overdrawn directors loan. You didn’t even know what it was at first, but you really need to know why it’s a problem.  Basically, the problem is that it looks like you owe your business money and that might lead to some, possibly significant, tax to...
What is a director’s loan?

What is a director’s loan?

When you’re in the early days of your business, you may find you have a bunch of initial costs you need to cover before you’re even generating an income from sales.  For a creative business, this could be anything from office equipment, to tech, to start-up accounting...