Commentary

C1.510 CGT losses—Debts acquired from a connected person

Capital gains tax
Capital gains tax | Commentary

C1.510 CGT losses—Debts acquired from a connected person

Capital gains tax | Commentary

C1.510 CGT losses—Debts acquired from a connected person

The loan relationships regime for the taxation of corporate debt applies to corporation tax payers for accounting periods ending after 31 March 1996, and excludes the CGT regime in respect of most debts. See Division D1.7.

For individuals and, subject to the above, for companies, no chargeable gain or allowable loss can arise on the disposal of a debt by the original creditor in relation to that debt, or by his personal representatives or legatees, unless the debt is a debt on a security1, or a debenture deemed for these purposes to be

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