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
Few points.
50k @6% is 3,000. This is outside personal capital gains allowance.
In any event that's not relevant, as interest income would be subject to income tax.
How is your business structured? Is it a company or sole trader?
For some reason I thought it was €3,000 allowance. It's a company. Any other ideas for funding without creating a tax burden on the company or the lender? Even if it's interest free. If interest free, is there any problem with me paying them back out of company from a tax point of view?