CG53481 - Debts not debts on a security: subsequent creditor: losses

TCGA92/S251 (4)

A loss on a disposal of the debt will be allowable, unless

• the person making the disposal is connected with the original creditor, and
• the person making the disposal acquired the debt either directly from the original creditor, or as a result of a series of transactions between people who were all connected with the person making the disposal. For instructions on connected persons see CG14580+.