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

SCHEDULES

SCHEDULE 1 U.K. Consequential amendments

Part 2 U.K. Other enactments

Taxes Management Act 1970 (c. 9) U.K.

366 (1) Amend section 18 (interest paid without deduction of income tax) as follows. U.K.

(2) In subsection (3E)(b) for “relevant” substitute “ deeply ”.

(3) For subsection (3F) substitute—

“(3F) In subsection (3E)(b) above “deeply discounted security” has the same meaning as in Chapter 8 of Part 4 of ITTOIA 2005 (profits from deeply discounted securities) (see section 430 of that Act).”