Related Commentary  Related HMRC Manuals

869(1)  No debit may be brought into account for the purposes of this Part in respect of a debt owed to the company, except–

(a)by way of impairment loss, or

(b)so far as the debt is released as part of a statutory insolvency arrangement.

869(2)  If a debt is so released, any gain in respect of the release that is brought into account for accounting purposes by the debtor is disregarded for the purposes of this Part.

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