Part 4Loss relief
Chapter 7Losses from miscellaneous transactions
Deposit rights
154Transactions in deposit rights
(1)
This section applies if—
(a)
a person makes a loss from the disposal or exercise of a right to receive an amount,
(b)
the disposal or exercise is a transaction in a deposit under Chapter 11 of Part 4 of ITTOIA 2005 (see subsection (2)), and
(c)
the person's total income for a tax year includes interest payable on the amount.
(2)
The disposal or exercise is a transaction in a deposit under Chapter 11 of Part 4 of ITTOIA 2005 if, assuming there were a profit or gain from it, the profit or gain would be charged to tax under that Chapter.