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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Losses: loans to traders: guarantor's rights acquired as result of payment

TCGA92/S253 (11)Where a guarantor is treated as having an allowable loss under CG66020, no chargeable gains (except as in CG66041) or allowable losses can arise in respect of rights he or she acquired as a result of making the guarantee payment, see CG65911.