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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Securities: debts: capital gains treatment of debts

All debts are assets for Capital Gains Tax purposes - TCGA92/S21 (1). The satisfaction of a debt - by a repayment, or otherwise - is a disposal of the debt. If a debt is repaid in part, there is a part disposal, TCGA92/S251 (2). Debts can also be sold, or otherwise transferred, by the lender and such events may also be disposals on which Capital Gains Tax can arise.