Can someone help me.
Herrera doesn't have £29m so we had to give it to him. This money, would be Herrera's income, and therefore taxable.
However, if we instead 'loaned' Herrera the money, would that be taxable? For example, if we gave Herrera a €36m interest free loan then nominally set his signing on fee at €36m -€36m loan repayments then would that not be considered a liability rather than an income and therefore be nontaxable?
I've pulled this from my arse, someone tell me why this won't work