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No reform for close company loans to participators rules

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The government has decided not to proceed with the broad reform of the close company loans to participators rules proposed in its consultation, although HMRC will continue to engage with interested parties with a view to making smaller, more targeted, adjustments to the regime. The overriding message from the consultation was that the current regime was preferable to any wide reform. Options for a non-statutory form to simplify and speed up the repayment process will be explored.

Categories: News , Corporate taxes