This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Company loan from overseas business

Moraf
Posts: 5
Joined: Fri Aug 24, 2018 10:07 am

Company loan from overseas business

Postby Moraf » Mon Sep 03, 2018 10:57 am

I am a UK resident and have a majority shareholding in a company based in the UAE (which is a zero tax jurisdiction).
I declare all income from the company (dividends) in my self-assessment, but I do not draw a salary from the business as its run by a manager etc.

My question is regarding a loan from the company.
If I were to take a loan from the company of £15,000 - what needs to be done?
In the UAE, there is no interest rate - so I am borrowing it at the official rate of the jurisdiction. Also, the local accounting requirements for the company are being fulfilled.

What needs to be declared in the UK?

Return to “General”