CG66011 - Losses: loans to traders: payments under guarantee

Where a demand has been issued under the terms of the guarantee, there should be no problem in accepting that the payment was made under the guarantee - you will, of course, need to be satisfied that all other conditions for relief under Section 253 (4) are met before granting relief. However, where a payment has been made without the issue of a demand you will need to consider whether the payment was under the guarantee.