Directors Loan Account - Overdrawn

**Maslins** · 24 November 2009, 14:10

Yeah, sorry Olly I wasn't trying to disagree with you.

You do get S.419 back, but typically a lot later than people think. If the OP can juggle funds, he can still potentially avoid this altogether, otherwise HMRC may end up holding £3k of the company's funds for several years.

**TheFaQQer** · 24 November 2009, 14:21

Originally posted by Maslins View Post

Yeah, sorry Olly I wasn't trying to disagree with you.

You do get S.419 back, but typically a lot later than people think. If the OP can juggle funds, he can still potentially avoid this altogether, otherwise HMRC may end up holding £3k of the company's funds for several years.

Given the topic, I'd suggest that that's a BIG "If".