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17.—(1) Regulation 14 (claimants treated for any purpose as having income by virtue of the Income Tax Acts) is amended as follows.
(2) In paragraph (2)(a) omit sub-paragraphs (i) to (viii).
(3) For paragraph (b) substitute—
“(b)the following provisions of ITTOIA—
(i)sections 277 to 283 (amounts treated as receipts: leases);
(ii)Chapter 5 of Part 4 (stock dividends from UK resident companies);
(iii)Chapter 6 of Part 4 (release of loan to participator in close company);
(iv)section 427 (charge to tax on profits from deeply discounted securities);
(v)Chapter 11 of Part 4 (transactions in deposits);
(vi)sections 624 to 628 (income treated as income of settlor: retained interests);
(vii)sections 629 to 632 (income treated as income of settlor: unmarried children);
(viii)section 633 (capital sums paid to settlor by trustees of settlement);
(ix)section 641 (capital sums paid to settlor by body connected with settlement);
(x)section 652 (estate income: absolute interests in residue); and
(xi)sections 654 to 655 (estate income: interests in residue); and
(c)section 84 and Schedule 15 to the Finance Act 2004 (charge to income tax by reference to enjoyment of property previously owned).”.
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