Nature of borrowing – Overdraft or Loan
{"Image DocumentName": "Nature of borrowing \u2013 Overdraft or Loan?", "Image ImageDescription": "G submitted self assessment tax returns on which he included interest received from the company for the years 2003/04 to 2005/06 respectively. The company accounts showed that it paid interest of \u00a3128,464 to G in respect of working capital loans provided to the company. No tax was withheld from the interest payments, nor had it accounted for any deduction. HMRC accordingly issued assessments under Sch 16 TA 1988 to the company in respect of its obligation to deduct and account for income tax on the interest payments.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}