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My name is Lyanne and I’m the managing director of Wilds. Welcome to our website we’re so glad you found us. There’s lots to take in on here but if you have any questions just fill in the contact form and we’ll get back to you.

Here at Wilds we’re all about helping you to achieve your ambitions. The Wilds team have already achieved some of theirs: completing a 6 marathon challenge, being able to do the school run and getting more involved in charity work. But enough about us we’d like to get to know you so if you would like to come in for a coffee and a chat to see if we could help you please get in touch.

 

CT61 Interest on your Directors current account

CT61 – Interest on your Directors Current Account.

If you have deposited a considerable amount of money into your company and you cannot see yourself drawing this in the near future. Charging interest to the company on this loan, as a basic rate tax payer, is a useful way of completely using your Personal Savings Allowance of £1,000 interest tax-free – £500 for higher rate tax payers.

When submitting the CT61, your company has to deduct 20% from the interest and pay this to HMRC as income tax before transferring you the money. Depending on the level of interest received from the company and personal investments, this tax can be reclaimed on your SATR return.

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