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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Qualifying corporate bonds: relevant discounted securities: CG: income

A relevant discounted security may be converted into another debt which is not a relevant discounted security. For Income Tax purposes, a conversion is treated by FA96/SCH13/PARA5 as a disposal of the relevant discounted security for its market value at that time, see IM1539b.