Hi,
I'm doing audit for one of my clients 'limited company'. My client has given loan to a company which is fully owned by one of its employee. The loan is given on commercial terms and company would charge interest of 6% p.a.
Would there any tax implications for an employee (benefit in kind)? or any other issue which you think is relevant for audit purposes.
Thanks
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P11D benefit
No. He is paying a market rate of interest. The company of course will CT on the interest received