Directors loan write off

[northernladuk]

How exactly did you come about your username?

You need to get an accountant. Your woolly terms and flippant remarks about your accounts are particularly worrying. You are getting a couple of answers to very general questions and picking the one you want but I bet there is a lot more wrong that we or you know about.

[Clare@InTouch]

I agree with the above.

If however you just mean you repaid it, or declared a dividend to clear it, it's a balance sheet adjustment that won't affect your profit for tax purposes.

[Sockpuppet]

How did you write it off?

Easiest way would be to pay back the company £350 you simply cannot write off the money as though it never existed. Well you can but then it becomes a benefit in kind.

[Savvy]

Hi

I had an overdrawn Directors loan account of £350 at end of accounting period in May.

I promptly wrote off this loan in June of the following period.

In my next accounts i don't want to account for this as an expense as it is not really, but i know will appear in this way in accounts.

But as to not claim tax relief where do i add this back to the CT600?

Thanks