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Archive for January, 2019

Overdrawn Directors’ Loan Accounts in Insolvency Procedures

Introduction

A director’s loan account (DLA) can be a complex issue for some directors, especially where a company is insolvent.  Withdrawing money from a company requires careful consideration as it is a separate legal entity, with complex tax implications and usually open to more scrutiny.  It is unlike a sole trader and partnership business, where withdrawing money can be a fairly straightforward process.

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