Page 38 - P6 Slide Taxation - Lecture Day 2 - Trust
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Interest free/low-interest loans
• Deemed interest is calculated annually:
• Market-related interest –actual interest
• This is the maximum amount that may be
attributed to the donor should income accrue
and section 7 applies.
• Applied cumulatively: if no income accrues
during YOA, the maximum amount that may
be attributed in the following year includes
the unutilised amount from previous years.
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