What Is S455 Tax? A Guide to Rates, Reclaims, and Director’s Loan Rules
An s455 tax charge is an anti-avoidance tax levied by HM Revenue and Customs (HMRC) on UK close companies when a director or shareholder takes a loan from the business and fails to repay it within nine months and one day of the company’s accounting period end. What Is an S455 Tax Charge? An S455…