Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

TCGA92/Sch4B - Application of proceeds of borrowing for normal trust purposes


TCGA92/Sch4B/para6 sets out the only three circumstances in which the proceeds of borrowing, CG39135, are treated as applied for normal trust purposes. They are that the borrowing is applied to:

  • acquire ordinary trust assets, CG39150
  • discharge loan obligations, CG39170
  • meet ordinary current trust expenses, CG39175.