Skip to content
Solved

CG39145 | TCGA92/Sch4B - Application of proceeds of borrowing for normal trust purposes

From HM Revenue & Customs · Capital Gains Manual

TCGA92/Sch4B/para6

TCGA92/Sch4B/para6 sets out the only three circumstances in which the proceeds of borrowing, CG39135, are treated as applied for normal trust purposes. They are that the borrowing is applied to:

  • acquire ordinary trust assets, CG39150

  • discharge loan obligations, CG39170

  • meet ordinary current trust expenses, CG39175.