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Re: directors loan account

The director's loan account is primarily to record amounts loaned to/from any director. You do need to be careful, though with borrowing money from the company. If there is a balance owing to any director at the company's year-end, this can result in an income tax and national insurance liability for the director(s) concerned, not forgetting that the company will also be required to pay Employer's NI as well.Salary can be "paid" to the Directors Current Account if there is still an outstanding balance owing to the company, but this will, of course, only be reduced by the net salary.The account can be set up by creating a new account of type "Non Current Liabilities".  As indicated above, you should set up one for each director.