Every time a director of a limited company makes a personal purchase through their company, a debt is formally created. That debt is tracked in the Director's Loan Account — and if it grows too large or is left outstanding too long, the tax consequences can be severe.
HMRC is tightening its powers to look further back into tax affairs, with 20-year time limits already in play for deliberate errors and new adviser rules on the way. Here's what it means for sole traders, small businesses and Ltd companies.
From director pay and pensions to electric cars and expenses, discover the practical ways a proactive accountant saves limited company directors real money every year.
Confused about Director's Loan Accounts? This plain-English guide explains what a DLA is, how S455 tax works, when HMRC gets involved, and the smart ways Ltd company directors can use — and repay — a director's loan without a nasty tax bill.
Wondering when to go from sole trader to limited company? This plain-English guide covers the profit thresholds, real tax savings, extra costs, and everything you need to know before making the move.
HMRC is consulting on plans to make sole traders and landlords pay their tax monthly or quarterly from April 2029, based on previous year submissions. Here is what the proposal means, whether becoming a Ltd company could help, and how to prepare.
