Income Tax Act 2007 (c. 3)

Part 11 Manufactured payments and repos

Chapter 1 Introduction

566 Meaning of “UK shares” and “UK securities”

(1) This section applies for the purposes of this Part.

(2) “UK shares” means shares in a UK resident company.

(3) “UK securities” means securities of—

(a) the government of the United Kingdom,

(b) a local authority in the United Kingdom,

(c) another public authority in the United Kingdom, or

(d) a UK resident company or other UK resident body.

(4) But “UK securities” does not include UK shares.

(5) In this section “securities” includes loan stock or any similar security.