Family business with 4 shareholders. No dividends paid at all. Shareholder 4 receives a property rent free (value £2800 a month) and has lived this way for 7 years.
Shareholder 3 is not happy as she deems this unfair. How can she deal with this and can she get the equivalent as this is unfair treatment. She doesn't wish to sell her shares she just wants fairness.
Is the rent free taxable? Can Shareholder 3 demand the same? Is this classed as a dividend as it does have a cash equivalent.