G
gerard.jude
Hello,
I've borrowed cash from my family in order to bootstrap my business.
They have taken loans and maxxed out their credit-cards in order to
fund me.
I owe four family members £5K each, I'm in a position to pay this back
now and I was wondering the correct way to do this (from a tax point of
view).
Can I simply show the initial loans on my books and write them a cheque
for £5K each?
Thanks in advance for any help
-- G
I've borrowed cash from my family in order to bootstrap my business.
They have taken loans and maxxed out their credit-cards in order to
fund me.
I owe four family members £5K each, I'm in a position to pay this back
now and I was wondering the correct way to do this (from a tax point of
view).
Can I simply show the initial loans on my books and write them a cheque
for £5K each?
Thanks in advance for any help
-- G