BIK payment

Hi,
My director’s loan exceeded £10,000 in the previous tax year, necessitating the submission of a P11D and the payment of Benefit in Kind tax.
Can the payment of this liability from the company’s account be treated as an allowable expense?

Hi ,

Presumably the additional tax you refer to is the amount you paid as a result of entering the P11D information on your personal (self-assessment) return. Your personal tax is your responsibility and cannot be paid from your company account and would not be an allowable expense of the company.

Thank you .

Hi, thank you.
What about NI class 1A?

Hi Lucy1234
Thank you for your follow up query.
The payment of NI Class 1A is also not a allowable company expense.
Thank you