Limited company HMRC account submission - directors loan and mileage expense

[paulacton]

Good afternoon,

Where to record Directors loan and Mileage claim on company accounts submission to hmrc

It's great to have a forum for tax help!
I have a limited company which is set up but with very little activity, just expenses as it's a new venture.

As the company runs at a loss and is done on the side of day job and will be for some time, I am filling in the company accounts online myself without an accountant. All is well with the exception of where to input 1) Directors loans 2) Mileage claim

Where do I deduct these from? and in what section do I add the information.

If anyone can help I would be very grateful.

Many thanks

[bd6759]

You need an accountant.

Motor expenses would be Dr motor expenses (P&L account), CR Director's loan (balance sheet).

Any money you have loaned the company would be DR bank, CR director's loan. (balance sheet).

The entries in the CT return come from your P&L and Balance sheet. You cannot use the CT return to create a P&L account.