Use it to pay off Loan Charge (partially or in full), move to a brolly and then let the creditors wind the company up.
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£50K Interest Free Loan for 12 Months
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Originally posted by Old Greg View PostUse it to pay off Loan Charge (partially or in full), move to a brolly and then let the creditors wind the company up.
Perhaps transfer the funds to an offshore trust, who can lend it back to you, tax free, with a pinky-promise that you'll never need to pay it back (honest guv, search the documents, there's no word loan in there anywhere).Last edited by Paralytic; 28 April 2020, 13:25.Comment
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Originally posted by Paralytic View PostI know this is a flippant suggestion, but the Loan Charge is a personal tax so you'd have to extract the loan funds from the company first.
Perhaps transfer the funds to an offshore trust, who can lend it back to you, tax free, with a pinky-promise that you'll never need to pay it back (honest guv, search the documents, there's no word loan in there anywhere).Comment
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Originally posted by Paralytic View PostI know this is a flippant suggestion, but the Loan Charge is a personal tax so you'd have to extract the loan funds from the company first.
Perhaps transfer the funds to an offshore trust, who can lend it back to you, tax free, with a pinky-promise that you'll never need to pay it back (honest guv, search the documents, there's no word loan in there anywhere).
Simples.
EDIT: for bonus points, claim on your home insurance for the replacement value of said desk and chairComment
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Has anyone seen any details on this loan yet? Could one use it to expand their business, spend on staff, office costs & marketing etc?Make Mercia Great Again!Comment
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Originally posted by BlueSharp View PostHas anyone seen any details on this loan yet? Could one use it to expand their business, spend on staff, office costs & marketing etc?Comment
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Originally posted by jamesbrown View PostDoesn't open until May 4, but why not? Even if there were a scope (there won't be), all of those you mention would clearly be within scope. There won't be any restrictions on how you spend it, providing you pay it backMake Mercia Great Again!Comment
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Originally posted by BlueSharp View PostWorth a punt especially if there is no director guarantee is required like many commercial loans these days and the interest rates are not ridicules. This time next year Rodders...
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Originally posted by BlueSharp View PostWorth a punt especially if there is no director guarantee is required like many commercial loans these days and the interest rates are not ridicules. This time next year Rodders...Comment
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Originally posted by jamesbrown View PostExactly, why not?
Especially fatso members
Old members
Old fat members
Make hay
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