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Changes over time for: Section 716


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 07/04/2005.
Changes to legislation:
There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Section 716.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
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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