CG73935 - NRCG and the exemptions: Disposals from 6 April 2019: Indirect disposals: Normal commercial loan
TCGA92/Sch1A Part 2
The tests for UK property richness (see CG73934) and Substantial Indirect Interest (see CG73936) both require tracing of a person바카라 사이트™s interests in UK land and/or the asset being disposed of. In both tests provision is made to not look through 바카라 사이트śnormal commercial loans바카라 사이트ť.
Sch 1A uses the same test as for Group Relief purposes in CTA 2010. These are defined at s158(1)(b) and s159(4)(b) CTA 2010. This means that a creditor making a normal commercial loan to a company that holds UK land is not considered to have an interest in that land, or the other assets of that company.
This test is subject to necessary modifications for when a company does not have share capital see the 바카라 사이트śmeasures of investment바카라 사이트ť section of CG73938.
Alternative finance
The test for a 바카라 사이트śnormal commercial loan바카라 사이트ť proscribed in Sch 1A is subject to the same statutory modification made to s162 CTA 2010 for certain Alternative Finance arrangements. In particular, with Investment Bond arrangements the modification made by s519(3) CTA 2009 applies for these purposes.