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HMRC internal manual

Capital Gains Manual

Losses: loans to traders: payments under guarantee: general

Relief is available, where the conditions are met, in respect of payments made under guarantees which were given on or after 12 April 1978. It does not matter when the loan itself was made. Unlike TCGA92/S253 (3), relief can be given for payments in respect either of outstanding principal of the loan, or of interest in respect of it.