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Posted Fri, 08 Sep 2023 20:28:18 GMT by
I'm a shareholder of an overseas company in the EU. The company has made some loans to me since Jan 2023, by transfering into my personal UK bank account. I plan on repaying the sum of everything loaned during the year before the end of the year. How should this be reported in my 22-23 self-assessment?
Posted Tue, 26 Sep 2023 11:09:40 GMT by HMRC Admin 8 Response
Hi,
Please refer to guidance at:
Director's loans
Thank you.
Posted Sat, 30 Sep 2023 10:50:53 GMT by
Thanks for your response. The problem is that the company tax year corresponds to the calendar year (finishes 31 December). When company gains are realised and dividends are disbursed (by the end of the year), I plan on settling the difference (from loans vs dividend gains). Am I right in thinking I do not need to declare this year's loans (from 1 Jan to 5 April) on my self 2022-23 self assessment and include the net difference (loans vs dividend gains) in the next year's self assessment? I.e when company dividends are disbursed.
Posted Thu, 05 Oct 2023 12:50:08 GMT by HMRC Admin 32 Response
Hi,

That is correct.

Thank you.

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