CTM61665 - Close companies: loans to participators: death of recipient

If you find a case where the company releases or writes off a loan or advance assessable under CTA10/S455 (CTM61510) and the individual to whom the loan was made has died, take the action below.

»Ê¹ÚÌåÓýapp guidance at CTM61655 should be applied to the person from whom the loan or advance is due at the time of the release or writing-off.

Officers should send a report to RIS Referrals, available via RIS A to Z, showing:

  • the full name and last address of the person to whom the loan etc was made and the date of his or her death,
  • the full name and address of the person from whom the loan etc was due at the date it was released or written off,
  • whether or not the loan etc is due from the person as personal representative (defined for this purpose in ITA07/S989) of the person to whom the loan was made,
  • the date the loan etc was released or written off and the amount released or written off,
  • the name of the company which made the loan or advance