Deep discount securities: qualifying corporate bonds
If the relevant conditions in TCGA92/S117 are satisfied a deep discount security will be a qualifying corporate bond (QCB) and, therefore, exempt from Capital Gains Tax. It is likely that many deep discount securities will be QCBs. For instructions on QCBs see CG53700+. The instructions at CG54602-CG54610 only apply to deep discount securities which remain chargeable to Capital Gains Tax.