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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Groups: restriction of indexation allowance: debts on a security

No indexation allowance is due to the lending company on the disposal of a debt on a security if the lending and borrowing companies were

  • linked when the debt was acquired, and
  • linked when the debt was disposed of (including disposal by way of repayment of the loan).If the companies

  • were not linked when the debt was acquired
  • subsequently became linked, and
  • were linked when the debt was disposed ofthe indexation allowance on the disposal is restricted to the allowance due for the period ending on the date the companies became linked. Detailed instructions are at CG46150+.