I have recently read that if you buy the family business after working there for 5 years or more your parents will receive the proceeds tax free.
If you were to finance this by personally borrowing the money and increasing your salary to repay the loan you end up paying tax at the higher rate on the increase.
Is there a more tax efficient way of doing this?
Thanks.
If you were to finance this by personally borrowing the money and increasing your salary to repay the loan you end up paying tax at the higher rate on the increase.
Is there a more tax efficient way of doing this?
Thanks.