I entered it in as a income because I thought I needed to. I have not had to pay tax for the past 2 years because my income has not gone over my personal allowance. It has been really hard to get the business moving forward. What can I do about paying back this loan without it having to come out of my profits? I have paid back £1200 out of the £1900 but like I have said, I have just noticed that in the past 2 years returns they were not counted.
I do understand that you may be talking English to you but to me, it may as well be in a foreign language. So in simple terms, are you saying that I can not repay the loan out of the business and it will need to be paid back out of my personal pocket. I am sorry I do not understand