Question – as a company director, are you withdrawing funds from your company’s bank account to pay for personal expenses or to cover your living costs?

Second question – is your accountant keeping you up to date with the movement on your Director’s Loan Account throughout the year?

If not, the implications can be costly to you and your business, with additional tax and interest to pay, and a significant negative impact on cash flow!

Click here to find out more about what a director’s loan account is and why it should matter to you as a company director to understand the entries in your accounts.

At Charterhouse we like to keep our clients informed and give proactive advice so that these issues can be avoided, so if you feel advice from your current advisor is lacking in this area or any other, get in touch with us to see how we can help.