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Home / Simons-Taxes /Personal and employment tax /Part E1 Income tax /Division E1.4 Savings and investment income /Release of loan by close company / E1.424 Release of loan by close company—charge to corporation tax and income tax

E1.424 Release of loan by close company—charge to corporation tax and income tax

Personal and employment tax

E1.424 Release of loan by close company—charge to corporation tax and income tax

Where a close company makes a loan or advance to a qualifying participator (D3.402, there are special rules which tax the company and, in certain situations the participator. These are discussed in detail in Division D3.4, but in outline are as follows:

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E4.507S Operation of the charge on securities with artificially enhanced market value

C1.106 Allowable capital losses

D1.8101 Groups of companies

B3.340A Hire purchase of plant and machinery and similar contracts

B2.218 Surplus business accommodation

C3.1814A CGT exempt assets—qualifying corporate bonds (QCB)

I9.325 Foreign pensions free from IHT

D7.1140 Methods of leaving the REIT regime

E4.622 Vans—main rules

B5.820 Charity's profits of trade—general liability to income tax

E8.271 Liability for Class 1A contributions

I5.251 Absolute entitlement by the life tenant

C2.201 Allowable expenditure for capital gains—overview

B8.210 Restrictions on sideways loss relief

B2.319 Duality of purpose—apportionment of the expenditure

D3.410 Benefits provided by close companies to participators

C3.1705 Non-qualifying tax years, and disposals of a main home under NRCGT

E4.1167 Payments made after leaving and after issue of form P45

I11.215 IHT accounts—excepted settlements

B5.101 What is 'farming' and 'market gardening'