Income Tax (Trading and Other Income) Act 2005 (c. 5)

SCHEDULES

SCHEDULE 2 U.K. Transitionals and savings etc.

Part 5 U.K. Savings and investment income: general

Deeply discounted securities: saving for charities' losses U.K.

82 U.K. The references in section 454(4) and (5) to trustees include any person who, had the loss been a profit—

(a) would have been eligible for relief from tax for the tax year in which the loss is sustained as a result of [F1 any of sections 521(4), 522(5), 523(5), 524, 529 to 533, 536 and 537 of ITA 2007 (certain exemptions: special rules about charitable trusts)] , or

(b) would have been so eligible but for section [F2 541 of that Act (restrictions on exemptions: attributing items of income to the non-exempt amount)] .

Textual Amendments

F1 Words in Sch. 2 para. 82(a) substituted (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1034, Sch. 1 para. 589(2) (with transitional provisions and savings in Sch. 2)

F2 Words in Sch. 2 para. 82(b) substituted (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1034, Sch. 1 para. 589(3) (with transitional provisions and savings in Sch. 2)