I owe my private limited company £50k on Director Loan A/C. I brought two of the 4 shares from a former partner in '96 for £23k each. Can I do a company share buy back of those two for £46k (ie. no profit) and thereby clear the DLA down to £4k without tax implications?
Further, could I inflate the value of that purchase (as the company is now worth much more) and then have the DLA owe me money, I can then draw down, tax free? (I think I'm allowed some cap. gains tax free).
Any help much appreciated - Rich
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