Writing off Director's Loan to company

Accounting
1

Hi,
Hoping someone can point me towards some more info or advice on this subject.

If I wanted to write off all or part of the loan I gave to my company, How would I go about recording that, and am I liable for any tax by doing so?

Thanks
James

2

Once you recorded money paid to the company, you don’t need to reverse it, you can leave funds in the company even if the company has the capacity to payback. Issues are a bit more complex when it’s the other way around which you don’t have a situation to hand.

3

Hi, why would you want to write off the loan?

4

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