Two thirds of directors do not understand the Directors Loan Account properly
A new survey of 250 UK Limited company directors by CompanyHelp with polling by Google Surveys reveals shocking levels of misinformation, lack of understanding of key financial facts and also the precarious business situation UKs Limited companies are in.
According to the survey results a shocking 60 per cent do not fully understand how a directors loan account functions. A quarter 26 per cent of directors incorrectly said a Ltd company protects directors from all debt liability.
More than 36 per cent of directors incorrectly said if they own a company the money in it is theirs. 47 per cent of directors als…
Read the full article at: http://smallbusiness.co.uk/lack-limited-directors-knowledge-2536711/
