On 31 October 2017 , a close company which prepares accounts to 31 March each year provides one of its full-time working directors with:

(a) an interest -free loan of £12,000 (the company does not provide loans in the ordinary course of its business)

(b) a season ticket for the opera, costing the company £1,800.

Explain the tax treatment of these two items, assuming that the director in question owns 10% of the company's ordinary share capital.