There are currently no known outstanding effects for the Income Tax Act 2007, Paragraph 330.
330U.K.After section 261E insert—
(1)This section applies if —
(a)the repurchase price of UK shares, UK securities or overseas securities is treated by section 604(2), (4) or (5) of ITA 2007 (deemed increase in repurchase price: repos and options) as increased for the purposes of section 607 of that Act (treatment of price differences under repos),
(b)condition A or B is met, and
(c)section 263A does not apply.
(2)Condition A is that, as a result of the increase, there is no difference for the purposes of section 607 of that Act between the sale price and the repurchase price.
(3)Condition B is that, as a result of an exception in section 608 of that Act, section 607 of that Act does not apply.
(4)The deemed increase of the repurchase price also has effect for capital gains tax purposes.
(5)Expressions used in this section and in section 605 of ITA 2007 (deemed increase in repurchase price: other income tax purposes) have the same meanings in this section as in that section.”
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