If you are a company manager and you lend\/borrow money to your company, you need to consider the repercussions. <\/p>\n\n
By taking money from your company, you create a debit current account, which means you owe a debt to your company. In this case, an interest rate is calculated and applied to this amount at the balance sheet date. The amount calculated becomes a taxable benefit in kind for you. <\/p>\n\n
The interest rate changes every year. Here’s an overview of the rates. <\/p>\n\n
Interest rate C\/C debit<\/strong><\/p>\n\n Tax year 2023: 7.14%.<\/p>\n\n Taxation year 2024: 5.43%.<\/p>\n\n Tax year 2025: 6.25%.<\/p>\n\n By lending money to your company, you create a current account in credit, which means that your company owes you a debt. In this case, it is possible to apply interest in your favor on the amount at the closing date and according to a calculation. You will have to pay 30% withholding tax on this gross amount with the company and you will be able to withdraw the net amount. <\/p>\n\n The interest rate changes every year. Below is an overview of rates. <\/p>\n\n <\/p>\n\n Interest rate C\/C credit<\/strong><\/p>\n\n Taxation year 2023: 4.07%.<\/p>\n\n Tax year 2024: 5.70%.<\/p>\n\n Tax year 2025: 8.02%.<\/p>\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" If you are a company manager and you lend\/borrow money to your company, you need to consider the repercussions. By taking money from your company, you create a debit current account, which means you owe a debt to your company. In this case, an interest rate is calculated and applied to this amount at the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-961","post","type-post","status-publish","format-standard","hentry","category-non-classifiee"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/posts\/961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/comments?post=961"}],"version-history":[{"count":2,"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/posts\/961\/revisions"}],"predecessor-version":[{"id":1094,"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/posts\/961\/revisions\/1094"}],"wp:attachment":[{"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/media?parent=961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/categories?post=961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fiscalclear.com\/en\/wp-json\/wp\/v2\/tags?post=961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}