PART X LOSS RELIEF AND GROUP RELIEF
CHAPTER III LOSS RELIEF: MISCELLANEOUS PROVISIONS
398 Transactions in deposits with and without certificates or in debts.
M1Where a person sustains a loss on the exercise or disposal of a right to receive any amount, being a right to which section 56(2) applies, in a case where—
(a)
if a profit had arisen from that exercise or disposal, that profit would have been chargeable to tax by virtue of section 56(2), and
(b)
he is chargeable to tax under Schedule F1. . . D in respect of interest payable on that amount,
then the amount of that interest shall be included in the amounts against which F2the amount of his loss may be set off in pursuance of a claim under section 392 or, as the case may be, against which the amount of his loss may be set off under section 396.