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.