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
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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
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