On 1 May 2022, a close company which prepares accounts to 31 March each year lends 30,000

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On 1 May 2022, a close company which prepares accounts to 31 March each year lends £30,000 to Ravi, who is one of its directors. No interest is charged on this loan. Ravi owns 18% of the company's ordinary share capital. Explain the tax treatment of this loan if:

(a) Ravi repays the loan in full on 15 February 2024

(b) Ravi repays £10,000 of the loan on 15 February 2024 and the remaining £20,000 is written off by the company on the same day.

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