Income Tax (Trading and Other Income) Act 2005

445 (1) Amend section 271 (miscellaneous exemptions) as follows. U.K.

(2) In subsection (1)(f) for “section 322 of the Taxes Act” substitute “ section 771 of ITTOIA 2005 ”.

(3) In subsection (4)—

(a) for “bonus”, in both places, substitute “ interest ”,

(b) for “section 326 or 326A of the Taxes Act (certified contractual savings schemes and tax-exempt special savings accounts)” substitute “ section 702 of ITTOIA 2005 (certified SAYE savings arrangements) ”,

(c) for “savings scheme”, in the first place where it occurs, substitute “ savings arrangement ”,

(d) for “certified contractual savings scheme” substitute “ certified SAYE savings arrangement ”,

(e) for “scheme”, in the last place where it occurs, substitute “ arrangement ”, and

(f) at end insert—

“In this subsection “certified SAYE savings arrangement” has the meaning given by section 703 of ITTOIA 2005.”