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Loan relationships: impairment losses and debt releases

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Loan relationships legislation applies to any money debt entered into by a company either as lender or borrower. The starting point is to follow the accounting treatment. However, where loans are written off or provided for in the accounts of the lender, or where loans are forgiven and reflected in the accounts of the borrower, there are a number of complex exceptions. In particular, special rules apply to connected company loans and situations where the borrower is in liquidation or in administration.

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