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Posted Wed, 20 Apr 2022 07:51:29 GMT by Ricardo
Hi HMRC, The Director's Loan Account has a £10 balance from a loan to a Director. This was a personal expense that was accidentally debited from the company's debit card. This amount was NOT repaid within the accounting period but it was repaid within 9 months after the end of the accounting period. There was no interest charged on the loan. Question #1: Do I need a CT600A form? Question #2: Does the company have to submit a P11D for the interest that wasn't charged on this "loan"? Question #3: This submission encompasses two accounting periods (two CT600 forms). The loan is within the first account period and it was repaid after the end of the 2nd account period. Will I need a CT600A form for both accounting periods and are they supposed to have the same values? Question #4: Could I simply change the date of the repayment to be within the accounting period and that way avoid the CT600A form and the P11D form? This would make my records not match the bank account. Would this be an issue? Would this be legal? Thank you, Ricardo
Posted Wed, 04 May 2022 08:58:09 GMT by HMRC Admin 19

If the loan was repaid within 9 months of the end of the accounting period in which the loan was made, a CT600A should be submitted for that accounting period only to reflect that.

You cannot change the date of the repayment, it is a question of fact and that would mean submitting a return that was incorrect. When you sign the return, you sign a declaration to the effect that the return is correct and complete.                

You would need to contact the PAYE team on 0300 2003200 with regards to the PAYE element of your query.

Thank you.

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