SCHEDULES
SCHEDULE 15 Loan relationships: savings and transitional provisions
Part II Income tax and capital gains tax
Application and interpretation of Part II
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1
This Part of this Schedule (except paragraph 29) has effect for the purposes of income tax and capital gains tax but not for the purposes of corporation tax.
2
In this Part of this Schedule—
“the 1992 Act” means the M1Taxation of Chargeable Gains Act 1992;
“market value” has the same meaning as in the 1992 Act;
“qualifying indexed security” has the meaning given by paragraph 2 of Schedule 11 to the M2Finance Act 1989; and
F1“deeply discounted security” has the same meaning as in Chapter 8 of Part 4 of the Income Tax (Trading and Other Income) Act 2005 (see section 430).
3
References in this Part of this Schedule to a disposal within marriage F2or civil partnership are references to any disposal to which section 58 of the 1992 Act applies.