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+
FA1996 introduced new TCGA92/S117A and TCGA92/S117B. These apply to certain assets representing loan relationships of a company held in exempt circumstances.
Exempt circumstances are defined as in the FOREX legislation, by FA93/SCH17/PARA3, see CG44020. The main categories of exempt circumstances are long term and mutual insurance business.