CG65931 - Losses: loans to traders: qualifying loans

To qualify for relief under TCGA92/S253 (3), the loan must have been of money and

  • must have been made on or after 12 April 1978,
  • must have been made to a borrower resident in the United Kingdom (if made before 24 January 2019); and
  • must have been used wholly for the purposes of the borrower바카라 사이트™s trade, or, provided that the trade is actually carried on subsequently, for the purposes of setting it up. Loans made where the borrower never commences a trade will not qualify.

For the purposes of this section, trade includes profession or vocation, but does not include a trade which consists of or includes the lending of money.