SCHEDULES

SCHEDULE 2Transitionals and savings etc.

Part 5Savings and investment income: general

Deeply discounted securities: saving for charities' losses

82

The references in section 454(4) and (5) to trustees include any person who, had the loss been a profit—

(a)

would have been eligible for relief from tax for the tax year in which the loss is sustained as a result of F1any of sections 521(4), 522(5), 523(5), 524, 529 to 533, 536 and 537 of ITA 2007 (certain exemptions: special rules about charitable trusts) , or

(b)

would have been so eligible but for section F2541 of that Act (restrictions on exemptions: attributing items of income to the non-exempt amount) .