Loan to company from wife
emma1801
Registered Posts: 55 Regular contributor ⭐
I have a company who the Directors wife has loaned money to the company for start up help. Should the company pay her interest upon return of the loan.
Please help.
Em
Please help.
Em
0
Comments
-
Only if it was agreed that she would at the outset. Not very common though; the point is to help the company, so charging interest would reduce the helpfulness. No tax reason to do it either - it'd save tax in the company but incur tax on the wife.
Cheers,
Mike.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 328 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 57 AAT Level 3 Diploma in Accounting
- 95 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 273 VAT
- 92 Software
- 275 Tax
- 138 Bookkeeping
- 7.2K General accounting discussion
- 203 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 584 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership