My friend can get a large discount to buy a new car. However the condition of the discount is that he must own the car for 1 year.
I would like to send him £57000 to purchase the car for me and after one year he will transfer the car me.
Can anyone see any tax implications for both parties. We are both in full time job. No business income our than rental income.
It's a personal agreement. Besides the normal risks associated with leading do we have any HMRC considerations to take account. Both parties are 40% tax bracket.