Schedule 12 Trading income provided through third parties: loans etc outstanding on 5 April 2019

United Kingdom

1. Application of sections 23A to 23H of ITTOIA 2005 in relation to loans etc. outstanding on 5 April 2019
2. Meaning of “loan” and “quasi loan”
3. Meaning of “outstanding”: loans
4. Meaning of “outstanding”: loans in currencies other than sterling
5. Repayments in currencies other than the loan currency
6. Loans made in a depreciating currency
7. Meaning of outstanding: “quasi-loans”
8. Meaning of “outstanding”: quasi-loans in currencies other than sterling
9. Repayments in currencies other than the quasi-loan currency
10. Quasi-loans made in a depreciating currency
11. Meaning of “approved fixed term loan”
12. Approval: application to HMRC
13. Approval: qualifying payments condition
14. Approval: commercial terms condition
15. Accelerated payments
16. Duty to provide loan charge information to HMRC
17. “Loan charge information”
18. Duty to provide loan charge information: penalties
19. Penalties under paragraph 25: reasonable excuse
20. Penalties under paragraphs 25 and 26: assessment, appeals and enforcement