Section 455 tax
A Corporation Tax charge that can arise when a close company makes certain loans or advances to participators and the balance remains outstanding after the relevant deadline.
Related terms
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Loan to participator
A tax term for certain loans or advances made by a close company to shareholders or other participators, which can trigger specific tax consequences.
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Credit Director’s Loan Account
A director’s loan account showing that the company owes money to the director, rather than the director owing money to the company.
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Director’s Loan Account (DLA)
An account recording money a director owes to the company or the company owes to the director.
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