CG66032 - Losses: loans to traders: payments under guarantee

In order to decide what amount of relief is available to a claimant under TCGA92/S253 (4) you will need, therefore, to consider the ability of the co-guarantors, if any, to meet their shares of any payment to the lender under the guarantee. The position of the co- guarantors is to be considered at the date on which the claimant makes payment of any amount over and above his or her strict pro-rata share under the guarantee on which relief is being claimed. In accordance with the Leisureking judgement, the criteria to be adopted in relation to recoverability of contributions from co-guarantors are the same as in relation to recoverability of loans from the borrower by the lender, see CG65950 - CG65957.