Taxation of Chargeable Gains Act 1992 section 255

Provisions supplementary to section 254

Section 255 provided supplementary rules supporting the relief for loans to traders under section 254, but has been repealed for loans made on or after 17 March 1998.

• Section 255 contained supplementary provisions that supported the operation of section 254, which dealt with relief for irrecoverable loans to traders.
• The section was repealed by the Finance Act 1998, section 141(1)(b), (2)(b) and Schedule 27 Part III(32).
• The repeal applies to loans made on or after 17 March 1998; loans made before that date may still fall under the old rules.
• As a repealed provision, section 255 has no continuing application for any loan arrangements entered into from 17 March 1998 onwards.