Tax liability dilemma

[Bradley]

Do try and think things through

[/B][/U]

Surely if the company was liquidated by a liquidator, the liquidator would have every right to chase the debtors of the company, which in this case would be the director, due to the fact he/she had an overdrawn loan account, so the director would have to pay the £7k or £5k, back to the company?

Why on earth would you enter a formal liquidation process? This would not be an insolvent company based on what's been said so far.