4. Tax charge on loans to participators (s.455 charge) - When does the charge apply?

    When does the charge apply?A tax charge is imposed by s.455 of the Corporation Tax Act 2010 where a loan is made to a participator and that loan is wholly or partially outstanding nine months...

    5. Reporting to HMRC and accounting for s.455 tax - Do I need to tell HMRC about the loan?

    Do I need to tell HMRC about the loan?It might be necessary to tell HMRC about an outstanding loan, even if there’s no s.455 tax to pay. The reporting requirements vary depending on when or...

    10. Tax terms that apply to company loans - What is a close company?

    What is a close company?The definition is found in s.439 of the Corporation Taxes Act 2010 (CTA 2010) (see Appendix). Broadly, in plain English, a company is a close company if it is...