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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Debt on security: essential characteristics of: events of default

Some agreements include standard clauses requiring the debt to be repaid immediately if certain events happen. For example, if the borrower defaults on repayment, or goes into liquidation. These standard clauses should not be taken as displacing any stated terms for repayment for the debt set out in the agreement.