Beneficial loan to Directors wife
We have a client, a Limited Company which has loaned money to a partnership which is between the Director and his wife.
We reported the loan, equally between husband and wife. However, the total loan benefit comes to just under £8,000 each and the wife is not an employee of the company. Should the loan benefit have been disclosed or can you get round it because her total pay, including benefit is less that £8,500?
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