I am trying to help a friend strike off his company.
Whilst we know what to do re same from the CRO and Revenue websites, the issue we have is with the directors loan account.
The company hasn't traded in a while so there is no income/expenses/assets or taxation liabilities but the company owes €10k to the director. He is more than willing to let this money go as he wants to close the company.
So can anyone please recommend the best accounting treatment to get the €10k off the balance sheet?
Any help is much appreciated...
Whilst we know what to do re same from the CRO and Revenue websites, the issue we have is with the directors loan account.
The company hasn't traded in a while so there is no income/expenses/assets or taxation liabilities but the company owes €10k to the director. He is more than willing to let this money go as he wants to close the company.
So can anyone please recommend the best accounting treatment to get the €10k off the balance sheet?
Any help is much appreciated...