Podcast Location:
Download it here [file size: 24.7 MB]
Categories:
Corporate & Commercial Law
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast provides an overview of the changes to the law on loans to directors and similar transactions, which were made to reduce the unnecessary and excessive level of regulation in the 1985 Act. This podcast also aims to provide an understanding of the taxation implications of money, and other rewards apart from pure salary, which a company gives to its directors.

Outcomes:
After completing the course you will:
  • Understand he new rules regarding loans and quasi-loans made to directors under the 2006 Act;
  • Know the new rules concerning credit transactions and substantial property transactions and the related exceptions;
  • Know how a transaction can tactically be restructured to avoid being caught by these rules;
  • Understand how the taxation treatment of director's salaries and other benefits they may receive apart from pure salary.
Level:
Beginner Difficulty: 1 of 5
Classification:
Introduction
Practical Guide
Sources and References:
  • Companies Act 1985;
  • Companies Act 2006;
  • Income Tax (Earnings & Pensions Act) 2003;
  • Dale v De Soissons (1950) 2 All ER 460.

In this podcast Fiona Ball discusses the changes to the law on substantial property transactions, credit transactions, loans and quasi-loans made to directors contained in Part 10 of the Companies Act 2006 Act. The taxation treatment of director's salaries and other benefits apart from pure salary which they may receive is also examined.

Podcast last reviewed: 2012-03-22

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