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Where Taxpayers and Advisers Meet

Directors Loan Account

marki666
Posts:1
Joined:Wed Mar 27, 2019 12:04 pm
Directors Loan Account

Postby marki666 » Wed Mar 27, 2019 12:10 pm

Can a company run a directors loan account for someone who has loaned money to the company yet is not registered as a 288 director?

To qualify I have had the title of director but nothing is registered with HMRC.

Thank you

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Directors Loan Account

Postby pawncob » Fri Mar 29, 2019 4:51 pm

If the term "holding out" means anything to you , you'll know that you're in a dangerous position.
If you act like a director, or people believe you're a director, you could be classed as a director by companies house and HMRC.
The company operating a DLA will only confirm the position.
With a pinch of salt take what I say, but don't exceed your RDA


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