I3.264 Price left outstanding on loan but released annually
Suppose A sells property to B for, say, £30,000, but the purchase price is left outstanding on loan and is written off at the rate of, say, £3,000 pa making use of A's annual exemption.
HMRC has stated that, in such a case, 'We will obviously need to consider any actual case of this kind on its full facts, but … it seems clear that the sale of the asset and then writing off of the loans are associated with each other as a single arrangement and, prima facie, we would consider
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