Small co, two director/shareholders - one now left and overdrawn loan account written off.
Initial thoughts are that this will need to added back in CT comp in due course - can anyone confirm that this is correct or are there further factors/special circumstances that require consideration before jumping to general sweeping conclusion?
Nick
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Why add back
Writing off the loan is an expense of the company. The release of the loan will give rise to relief under s419(4), but will also generate a charge under s420.