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Tim
July 7th 03, 10:21 AM
I am/was a shareholder of a Ltd company which I loaned a few thousand pound
of money to. This has subsequently become insolvent and going through the
throws of arranging creditors meetings etc.

I have started my own company and was wondering if I can purchase (buy or
sell) the loan I made to the first company so I at least don't pay tax on
the capital repayment. Are such things possible and straight forward to do?

Many thanks.

Peter Saxton
July 19th 03, 01:05 AM
On Mon, 7 Jul 2003 10:21:53 +0100, "Tim" > wrote:

>I am/was a shareholder of a Ltd company which I loaned a few thousand pound
>of money to. This has subsequently become insolvent and going through the
>throws of arranging creditors meetings etc.
>
>I have started my own company and was wondering if I can purchase (buy or
>sell) the loan I made to the first company so I at least don't pay tax on
>the capital repayment. Are such things possible and straight forward to do?
>
>Many thanks.
>
>
What do you mean? Who is "buying" the loan? Your company or you? Who
is "selling" the loan? The limited company you are a shareholder in or
yourself?

Why are you expecting to pay tax on the repayment of capital? What
tax?


Peter Saxton from London