10U.K.In section 392 (loan to buy interest in close company) after subsection (3) insert—
“(3A)Subsection (2) does not apply if at any time the individual by whom the shares are acquired or the money is lent, or that individual's spouse or civil partner, makes—
(a)a claim under Part 5B of this Act for relief in respect of the amount invested in acquiring the shares or (as the case may be) in return for the debentures in respect of the money lent, or
(b)a claim in respect of the amount under Schedule 8B to TCGA 1992 (hold-over relief for gains re-invested in social enterprises).
(3B)For the purposes of subsection (3A)(a) “debenture” includes any instrument creating or acknowledging indebtedness.”