Director loan...help!

[MrButton]

Remember this is the professional part of the forums - choose your language more carefully.

Much apologies.

[northernladyuk]

Remember this is the professional part of the forums - choose your language more carefully.

Admin has tagged this thread.

[northernladuk]

Remember this is the professional part of the forums - choose your language more carefully.

Seemed fair enough to me.

[michaelC]

So you don’t believe in paying tax?

I believe in paying your fair share in tax. Your fair share should not be based on how much you earned within a specified calendar year. It should be based on how much you cost to the government.
Income and profit do not even represent one's true wealth hence the concept of income tax is incorrect twice.

It’s not your money. It’s the company’s money. Think about why the rule is there. It’s an anti avoidance charge to prevent people from taking an untaxed loan and never repaying it. The charge itself is temporary and will be repaid in the period after the loan is repaid.

Its not my money, but its also not the government's money. They should not care how much someone earned or has in his/his company's bank account, its none of their business.

[TonyF]

I believe in paying your fair share in tax. Your fair share should not be based on how much you earned within a specified calendar year. It should be based on how much you cost to the government.

An interesting viewpoint. Are you saying that if you cost the government more you should pay more tax or less than someone who costs the government less? Because that sounds very much like "tax those with the lowest incomes more than the higher ones", which generally leads to a huge increase in the national debt.

[MB2]

An interesting viewpoint. Are you saying that if you cost the government more you should pay more tax or less than someone who costs the government less? Because that sounds very much like "tax those with the lowest incomes more than the higher ones", which generally leads to a huge increase in the national debt.

It would also mean children, the sick, the unemployed and old people paying tax which is likely to prove problematic too.

[WordIsBond]

The tax discussion presumably belongs in General.

OP never came back to give details, makes it pretty hard to help him out.