The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
Special rules apply if a company (A) is in a loan relationship with another company (B), and these companies are connected at any point during the accounting period.
A company is connected with another person for an accounting period if that person is a company and, at any time in that accounting period, one of the companies had control of the other or both were under the control of the same person.
For this purpose, control of a company means the power of a person to secure that the affairs of the company are conducted in accordance with his wishes:
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