How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask educatortech Your Own Question

educatortech
educatortech, Professor
Category: General
Satisfied Customers: 5229
Experience:  M.A., M.S. Education / Educational Administration
46856550
Type Your Business Question Here...
educatortech is online now

A director has taken £100000 from a limited company over 7

Customer Question

A director has taken £100000 from a limited company over 7 years by way of fraudulent expenses claims, taken as cash advances against his future expenses. HMRC have investigated and decided to tax this money as income, not DLA loan. The company has stated
these payments are unauthorised and fraudulent and false accounting. Can the company now invoice the director for the return of the cash taken, net amount? If the director paid the principle amount back to the company, does that mean the hmrc tax as income
is wrong, as he in the end paid it back or was this theft by a director and he has to pay the tax as well?
Submitted: 1 year ago.
Category: Business
Expert:  educatortech replied 1 year ago.
Hello, my name is***** is not a simple solution on this, especially in the United Kingdom. Since HMRC has deemed it to be income and taxable, the director is going ot have to pay taxes. It is up to the company to determine how they will proceed in getting the money back from the director if taken fradulently. most likely this will be done through the courts and a lawsuit for the money that was taken illegally. In addition, there might be criminal proceedings against the director if the authorities determine a crime has been committed. The director would be able to assist themselves if they returned the monies when it came to those legal issues.

What Customers are Saying:

 
 
 
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
< Previous | Next >
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I Couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
 
 
 

Meet The Experts:

 
 
 
  • Dr. Y.

    Dr. Y.

    Urologist

    Satisfied Customers:

    15021
    Specializing in general urology and reconstructive urology.
< Last | Next >
  • http://ww2.justanswer.com/uploads/lyeung1/2010-07-25_032152_tn_IMG_0241.JPG Dr. Y.'s Avatar

    Dr. Y.

    Urologist

    Satisfied Customers:

    15021
    Specializing in general urology and reconstructive urology.
  • http://ww2.justanswer.com/uploads/TA/Tax Expert/2013-8-21_231010_sam.64x64.jpg Sam's Avatar

    Sam

    Accountant

    Satisfied Customers:

    7069
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
  • http://ww2.justanswer.com/uploads/drhearne/2009-11-8_74742_monika_hearne2.jpg Monika Hearne, M.D.'s Avatar

    Monika Hearne, M.D.

    Board Certified OB/GYN

    Satisfied Customers:

    5180
    With experience and compassion, I treat my patients like family.
  • http://ww2.justanswer.com/uploads/BI/birddoctor/2012-6-22_173214_birddoctor.64x64.png Dr. Pat's Avatar

    Dr. Pat

    Bird Veterinarian

    Satisfied Customers:

    2863
    25+ years working primarily or exclusively with birds
  • http://ww2.justanswer.com/uploads/dermdoc19/2010-09-30_160749_Photo_122807_015.JPG dermdoc19's Avatar

    dermdoc19

    Dermatologist

    Satisfied Customers:

    2779
    30 years practice in general and cosmetic dermatology
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    2733
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/FA/FamilyPhysician/2013-8-31_191624_JA550x500Photo.64x64.jpg Family Physician's Avatar

    Family Physician

    Doctor

    Satisfied Customers:

    2418
    GP with over 27 years experience including emergency medicine
 
 
 

Related Business Questions