This guidance describes the capital gains aspects of the regime for Loan Relationships for companies from 1 April 1996 until the first accounting period to start on or after 1 October 2002. For periods beginning on or after 1 October 2002 see CG54100+
FA96/S92 excludes from the new regime the profit or loss on redemption or other disposal of an asset representing a creditor debt relationship, where
•the rights attaching to the debt include provision whereby the creditor is, or may become, entitled to acquire shares in (any) company, whether by conversion or exchange of the debt or otherwise, and
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