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Income Tax (Trading and Other Income) Act 2005

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Changes over time for: Section 716

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Point in time view as at 07/04/2005.

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There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Section 716. Help about Changes to Legislation

716Restriction on deductions etc. relating to FOTRA securitiesU.K.

This section has no associated Explanatory Notes

(1)A person who meets conditions A and B may not bring into account for income tax purposes—

(a)any amount relating to changes in the value of a FOTRA security, or

(b)expenses related to holding it or to any transaction concerning it.

(2)Condition A is that the person is the beneficial owner of the security.

(3)Condition B is that the person is a person who would be exempt from tax on the security under this Chapter.

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