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When is a loan not a loan?

November 2011 - Finance. Legal Developments by Hassans.

More articles by this firm.

Article by Scott Simmons, Associate

The recent UK case of MJP Media Services Ltd v HMRC has highlighted the importance of ensuring that payments claiming to be loans must be made directly to the debtor for them to use as necessary and that, if challenged, taxpayers must retain and be able to produce sufficient evidence to support its case.

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