Commentary

C3.713 Subsequent recovery of amount lost

Capital gains tax
Capital gains tax | Commentary

C3.713 Subsequent recovery of amount lost

Capital gains tax | Commentary

C3.713 Subsequent recovery of amount lost

The rules described in this article do not apply for capital gains tax purposes in relation to loans made after 16 March 1998, and no longer apply for corporation tax purposes since the introduction of the loan relationship regime (see C3.711).

Where an allowable loss accrued to a lender under these provisions and he recovered at a later date all or part of the relevant outstanding amount, he was treated as if at that time he realised a chargeable gain equal to so much of the loss as corresponded to the amount recovered1. The 'relevant

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