QCB

QCB
(QCB)
Debt securities that are exempt from tax on chargeable gains so that a disposal does not give rise to any chargeable gain or allowable loss for the purposes of capital gains tax.
For corporation tax purposes as regards disposals after 31 March 1996, with certain exceptions, the definition of a QCB includes any asset representing a loan relationship (section 81, Finance Act 1996) of the company.
For other shareholders a QCB must be a debt security which satisfies each of the following criteria:
• It is in sterling and has no rights of conversion into, or redemption in, currency other than sterling.
• It has no rights of conversion to certain shares or other securities, and no rights to subscribe for additional shares or securities.
• The interest paid must not exceed a reasonable commercial return, nor depend on the results of all or part of the issuer's business.
It is either redeemable at par or on terms comparable with the terms of other listed securities. (Sections 115 and 117, Taxation of Chargeable Gains Act 1992).
All deeply discounted securities are QCBs which ensures that no loss made on a deeply discounted security is allowable for the purposes of tax on chargeable gains.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • QCB — Quick Change Barrel (Governmental » Military) Quick Change Barrel (Community » Law) Queue Control Block (Computing » Networking) ** Quality Certification Bureau, Inc. (Business » Firms) ** Quality Certification Bureau Inc. (Business » Firms) **… …   Abbreviations dictionary

  • QCB — Queue Control Block …   Acronyms

  • QCB — Queue Control Block …   Acronyms von A bis Z

  • QCB — abbr. Queue Control Block …   Dictionary of abbreviations

  • QCB — • queue control block …   Maritime acronyms and abbreviations

  • QCB — comp. abbr. Queued Control Block abbr. Queue Control Block …   United dictionary of abbreviations and acronyms

  • WFNZ — Infobox Radio station name = WFNZ city = Charlotte, North Carolina area = Charlotte/Metrolina branding = 610 AM airdate = 1941 (as WAYS) owner = CBS Radio frequency = 610 format = Sports Talk website = http://www.wfnz.com/ callsign meaning = The… …   Wikipedia

  • Browning M2 — Browning M2, montada sobre el trípode M3 Tipo Ametralladora pesada País de origen …   Wikipedia Español

  • Sponge reef — taxobox image caption = Hexactinellae from Ernst Haeckel s Kunstformen der Natur , 1904 name = Hexactinellid Reef Sponges regnum = Animalia phylum = Porifera classis = Hexactinellida subclassis = Hexasterophora subdivision ranks = Orders… …   Wikipedia

  • M2 Browning — This article is about the .50 caliber M2 machine gun. For the Browning .30 06 machine gun, see M1919 Browning machine gun. Browning Machine Gun, Cal. .50, M2, HB M2HB heavy machine gun …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”