I have a director client who had run a business for 10 years before selling it in November. Over the years he has paid £400,000 into the business as a directors loan which he has received interest on. As part of the sale around £100,000 of this loan is to be written off.
I believe that there may be some tax relief available - potentially creating a capital gains tax loss but am really not sure.
Any help would be most welcome.
Regards.
Gavin West
Gavin West