What is the best/most tax efficient way to put money into my business from a family member?
If I took an interest-free loan at 50k and 50k at 6% simple interest loan from the same family member. The loan at 6% would be within the family member's capital gains allowance. My main question is surrounding the 50k interest free and would anyone have suggestions how to handle that portion. The interest-free loan will not kick in for a few years the 6% interest loan will commence on receipt on the funds
Thanks
If I took an interest-free loan at 50k and 50k at 6% simple interest loan from the same family member. The loan at 6% would be within the family member's capital gains allowance. My main question is surrounding the 50k interest free and would anyone have suggestions how to handle that portion. The interest-free loan will not kick in for a few years the 6% interest loan will commence on receipt on the funds
Thanks