General

General news and information from the April King team including interesting articles for our clients and readers.

A Gift or a Loan?

A gift or a loan

Your car breaks down and you can’t afford to have it fixed straight away so a friend loans you the money. After a couple of months of monthly payments, your friend offers to write off the debt as a gift to you! You may believe it is easy to determine whether something is a gift or a loan. A simple text or phone call may be enough in this situation for the loan to become a gift. However, in regards …

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