Release of unpaid interest
Company borrows from a participator and accrues, but does not pay, interest. No deduction for the interest under late interest rules. If the debt, particularly the interest, is released, does a taxable credit arise, bearing in mind that no deduction for the accrued interest was allowed? If not, can anyone point to the relieving legislation?
- Connected Persons and Incorporation 253 10
- Low cost website 566 17
- Accruing for fixed asset invoice 173 3
- Letter from the Official Receiver 312 5
- Sum based on multiple criteria - not a SUMIF 526 11
