Commentary

C3.714 Exclusion of amounts subject to income tax or corporation tax

Capital gains tax
Capital gains tax | Commentary

C3.714 Exclusion of amounts subject to income tax or corporation tax

Capital gains tax | Commentary

C3.714 Exclusion of amounts subject to income tax or corporation tax

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 the amount lent or a sum subsequently recovered in respect of a qualifying corporate bond fell to be included in a computation of income tax or corporation tax liability, no allowable loss or chargeable gain could arise under these provisions in respect of the same transaction

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