NIM12017 - Class 1: Calculating Class 1 NICs for Directors: Withdrawals from Directors' loan accounts

Regulation 22 Social Security (Contributions) Regulations 2001

Each withdrawal or debit transaction can be:

  • a repayment, or partial repayment, of the loan if the account is in credit, or
  • a further loan, or
  • a payment made on account of earnings.

An overdrawn account might be initial evidence that withdrawals are on account of remuneration to be credited at the end of the company바카라 사이트™s accounts year but it is not conclusive in itself. An account might be overdrawn during the company바카라 사이트™s accounts year because

  • the company has agreed to make a loan or loans to the director, or
  • in the expectation that it will return to a credit balance, because either
    • the director바카라 사이트™s remuneration will be credited at a later date, or
    • company dividends or some other sum will be credited at a later date.