Guide on Legal and Tax Implications regarding Director's Loan Account in Ireland. Learn more on how to minimise the risks involved today.You or your company may have to pay tax if you take a director's loan. Your personal and company tax responsibilities depend on how the loan is settled. The general rule of the Act as laid out in Section. 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.