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bigduckontax
bigduckontax, Accountant
Category: Tax
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, could you give advice regarding companies house abbreviated accounts? Where should th

Customer Question

Hi, could you give advice regarding companies house abbreviated accounts?
Where should the amounts put in by the director into the company be shown?
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I am Keith, one of the experts on Just Answer, and happy to help you with your question.
With the greatest respect, why are you preparing abbreviated accounts at all?
When you file your Corporation Tax (CT) return on line there is an option to forward abbreviated accounts to Companies House and if selected these are extracted and filed for you automatically. If you have already made your CT return and did not select this option then all is not lost. Just go into the package again, work through the entries and make the appropriate election.
To respond to your question, however, it depends upon the director's requirements. If he is contributing to share capital it goes in there. If he is lending moneys to the company they they would be entered in the ledgers under 'Loans by directors' and reported on the balance sheet as creditors, either as those repayable within the year or those over one year.
I do hope that I have assisted you with my answer.
bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 2 years ago.
Thank you for your support.

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