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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Securities: debts: definition of debt on a security

TCGA92/S251 (1)

TCGA92/S251 (1) refers to `… the debt on a security (as defined in Section 132).’ In fact TCGA92/S132 does not define the phrase `the debt on a security.’ But it does define the word ‘security’, as including

any loan stock or similar security whether of the Government of the United Kingdom or of any other government, or of any public or local authority in the United Kingdom or elsewhere, or of any company, and whether secured or unsecured.’