A company shareholder is considering waiving the repayment of a loan that he made many years ago to a close company. He would wish a bank guarantee to be removed.
A limited company has substantial cash balances, but it is believed that a better interest rate can be obtained from a personal bank account. What are the tax implications if the company loans the cash to the director, who then opens an account in his own name?
A UK-resident client was employed by a foreign company, but has recently been made redundant and is to receive £20,000. Will this payment be tax free because it is below £30,000?