Reporting on Form 3CD

This discussion clarifies the reporting requirements for Clause 31(a) of Form 3CD concerning loans or advances. You must report if the amount received in cash is £20,000 or more, or if the total amount received (cash and non-cash combined) exceeds £20,000. It also touches upon Section 40(A)(3), noting that payments exceeding £10,000 for business purposes may be treated as disallowable expenditure.