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Where Taxpayers and Advisers Meet

s455 corp tax

Feedback
Posts:351
Joined:Thu Feb 23, 2012 10:26 am
s455 corp tax

Postby Feedback » Fri Feb 01, 2019 3:44 pm

if a company issues a loan to a director at a commercial rate, and the loan is repaid in monthly instalments, just like any other commercial loan, does this come under s455? per s456, the business is not a finance house, and the director owns 5% of equity.

my first thought is that it does

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: s455 corp tax

Postby robbob » Fri Feb 01, 2019 4:39 pm

does this come under s455?

Is there any logical reason to make you think it wouldn't come under the s455 rules? - i can't think of any logical reason why s455 would NOT apply normally subject to the specific rules that apply for s455 to be relevant .e.g loan repaid within same accounts period = no s455 issues.


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