FTTTx (Income Tax/Corporation Tax : Profits) INCOME TAX – bad debt relief – sole trader – writing off loans to father’s company – whether loans made – quantum of loans – claim to discharge tax under Schedule 1AB TMA 1970 – whether loans were bad or estimated to be bad – whether loans were capital or revenue in nature – whether loans were made wholly and exclusively for the purposes of the sole trader business – appeal dismissed
Citations:
[2016] UKFTT 791 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 29 January 2022; Ref: scu.574014