Chancery Division.

Lindsay J.

Judgment delivered 12 February 1997.

Corporation tax – Transfer of sum by company to director’s account – Whether loan to director – Income and Corporation Taxes Act 1988, s. 419; Taxes Management Act 1970, s. 88.

Income tax – Sch. E – Transfer of sum by company to director’s account – Whether ‘qualifying loan’ – Whether taxable as emolument – Income and Corporation Taxes Act 1988, s. 160; Taxes Management Act 1970, s. 88.

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