Loan to Employee

Loan to Employee

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Hi

I have a new client and currently he is part paying one of his employees (Son in Law) via a loan. Wages 8k a year &10k loan a year both paid weekly

I understand what the old accountant was attempting to do but surely the loan will have to be paid or write off at some point which defeat the point of the process. That is without the BIK consideration

Could anyone shed some light on why the old accountant has done this and the best way forward?

Regards

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