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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Debts which are not debts on a security: original creditor

TCGA92/S251 (1)

A debt which is not a debt on a security (and not treated as a debt on a security, see CG53442) will not give rise to any chargeable gain when it is disposed of by the original creditor.

The same treatment applies to a disposal by the personal representative, or legatee, of the original creditor.