Summer Budget 2015: Rules on deemed releases of loan relationships

Rules on deemed releases of loan relationships

There are provisions which can result in a taxable profit where either the consideration paid to purchase a loan from a third party is less than face value and afterwards the new lender and borrower are connected, or where there is a loan between two companies which are not connected and they become connected.

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Rules on deemed releases of loan relationships

These provisions have to be considered in the context of most acquisitions and refinancing and,typically, are relevant where the loan asset is impaired.

Summer Budget 2015

Summer Budget 2015

The Summer Budget of 8 July 2015 will be remembered as a reforming budget, with major changes to welfare provision.

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