CT refund

Discussion in 'General Business Forum' started by jarjarbinks, Jun 5, 2020.

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  1. jarjarbinks

    jarjarbinks UKBF Newcomer

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    Hello
    I have query which I ma hoping you can help em understand.
    on my company accounts , specifically on the directors loan(current) account, there is an entry for CT refund of approx £1300.

    Can you please advise under what circumstances would one have a CT refund recorded on DLA workings?

    My accountant is not available to answer queries for a while , hence posting here for some insight..

    Many thanks in advance
     
    Posted: Jun 5, 2020 By: jarjarbinks Member since: Jun 5, 2020
    #1
  2. dotcomdude

    dotcomdude Contributor

    519 105
    Maybe there was a refund of corporation tax which the Director took themselves, effectively transferring it to a loan to them?
     
    Posted: Jun 5, 2020 By: dotcomdude Member since: Jul 27, 2018
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  3. jarjarbinks

    jarjarbinks UKBF Newcomer

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    Hmm , thank you dotcomdude for your reply, the thing is the entry appears on the side of the DLA computing sheet which appears to be a re-imbursement to the director, much like expenses. Sorry if this is not clear, also there was no loan taken at the time..
     
    Posted: Jun 5, 2020 By: jarjarbinks Member since: Jun 5, 2020
    #3
  4. dotcomdude

    dotcomdude Contributor

    519 105
    Is there a corresponding entry in the business bank account around that time?

    Lots of things can be posted to the DLA when there's no other way to get them into or out of the accounts.
     
    Posted: Jun 5, 2020 By: dotcomdude Member since: Jul 27, 2018
    #4
  5. Gordon - Commercial Finance

    Gordon - Commercial Finance Contributor

    2,606 939
    It’s probably frustrating that you can’t get hold of your accountant (aren’t they working from home? Don’t have phones??), but you’re asking a forum of strangers, with no information about the business or the transaction, to try and divine what an accountant was thinking when he/she made a certain decision...

    You won’t find answers here, or anywhere except in the mouth of the accountant who did the thing.
     
    Posted: Jun 5, 2020 By: Gordon - Commercial Finance Member since: Jun 26, 2017
    #5
  6. jarjarbinks

    jarjarbinks UKBF Newcomer

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    Thanks dotcomdude.
    True Gordon, I suppose I was hoping for a bit of a miracle..
     
    Posted: Jun 5, 2020 By: jarjarbinks Member since: Jun 5, 2020
    #6
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