Help & Advice
S455 CTA 2010 – company tax charge
If a director (or any other participator in a close company) leaves a loan account outstanding for more than 9 months after the company’s accounting period end, the company will be required to pay tax under s.455 CTA 2010. This is payable at 32.5% of the outstanding loan balance and becomes due 9 months after the end of the accounting period. When the loan is repaid in full or in part s.455 tax is wholly or partly repayable 9 months after the end of the accounting period in which the repayment is made. The Revenue’s online form to reclaim