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FTT decides debt release not taxable under loan relationship rules (Hexagon Properties Ltd v HMRC)

Published on: 11 May 2022
Published by: LexisPSL
  • FTT decides debt release not taxable under loan relationship rules (Hexagon Properties Ltd v HMRC)
  • Why it matters
  • Case details

Article summary

Tax analysis: In Hexagon Properties Ltd, the First-tier Tax Tribunal (FTT) decided that the release of £3.5m of debt owed by the company to a bank was not taxable under the loan relationship provisions. The release was part of the settlement of a damages claim brought by the company against the bank. or take a trial to read the full analysis.

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