Santander nightmare, do I have another option?

juleszoemay_2

Corporation tax is paid on the profit of the business, so he's still paying tax! Difference is that the liability is on the business not the individual. This is standard practice for a growing business.

ferox666

As an accountant I can confirm there is nothing "dodgy" in what the poster has described...

His "sale" of the business to the limited company would have been taxable.

His "tax free drawings" of directors loan are just him drawing back what the company still owes him ie the amount he has likely already paid tax on!

This isn't a tax avoidance scheme...