Guide on Legal and Tax Implications regarding Director's Loan Account in Ireland. Learn more on how to minimise the risks involved today.You must declare the Director's loan as part of your Corporation Tax Return. Our comprehensive guide covers everything you need to know about directors' loans. Explore the implications of directors' loans in Ireland. Loan or advances not to be treated as annual payments. Where a close company makes a loan or advance, for any purpose, to a director or. If a company (such as a bank) lends money as part of its business, it can lend to its directors. Putting some money into your limited company and wondering how to open your director's loan account? You or your company may have to pay tax if you take a director's loan.