What Happens When The Money Runs Out.....

[Gonzo]

That's mostly right yes. I was under the impression that it was possible to defer some of the payment to a later date, just so long as you are completely up front with HMRC.

There was something about that reported here:

http://news.bbc.co.uk/1/hi/business/...0.stm#Taxation

I haven't looked into the details though and don't know whether it would help anyone in our type of circumstances.

[Grinder]

Well, there is of course the go back in time feature called search, type in "directors loan" and you will be presented with this, has all the info you need.

http://forums.contractoruk.com/accou...directors+loan

It wasn't my question - I'm just sticking my 2p into the debate. When it boils down to it, "Directors Loan" is not the right way forward here.

[tim123]

That's mostly right yes. I was under the impression that it was possible to defer some of the payment to a later date, just so long as you are completely up front with HMRC.

It's theoretically possible, but they don't like doing it.

Their attitude is, if you want to use us as a bank you should go and borrow the money from a bank.

tim