A director’s loan account (DLA) allows directors, or their family members, to take money out of their company. To qualify as a “director’s loan”, this money must not be a salary, a dividend, or an expense repayment. Also, it must not be money you’ve previously paid into or loaned to the company. How Does A…
As a business owner, you’ve undoubtedly heard the term “company assets” thrown around in discussions about your business operations, responsibilities, and financial health. But what exactly does it mean? In this post, we’ll delve into the concept of company assets, explore the various types, and discuss why it’s crucial for businesses to be fully aware…
If you’re a company director, you have a number of options for drawing income from your company as a directors salary. Mainly, it’s a choice between whether you pay yourself a salary, or you take dividends as your income – or you might choose a combination of the two. On top of this, you can…
Company directors are entitled to claim certain expenses. This is the case whether you’re the sole director of a limited company, or the managing director of a small business. In this post we’ll outline some of the expenses you can claim as a company director, along with any limits. Please note that you should pay…