A Guarantor v Revenue and Customs: SCIT 5 Aug 2008

Guarantor’s payments not deductible

SCIT INCOME TAX – director’s personal guarantee of company’s debts – director resigned from directorship and left company – guarantee then called on – whether payment made by director an allowable deduction – ITEPA 2003 s 336 – whether conditions satisfied – no – appeal dismissed.

[2008] UKSPC SPC00703
England and Wales

Income Tax

Updated: 09 November 2021; Ref: scu.273110