Amendments to the Child Trust Funds Regulations 200412.

In regulation 24 (exemption from tax of account income and gains)—

(a)

in sub-paragraph (a)(ii) for “by section 714(2) of the Taxes Act” substitute “under Part 12 of ITA 2007”;

(b)

for sub-paragraph (a)(iv) substitute—

“(iv)

on a profit on the disposal of a deeply discounted security within the meaning given by section 430 of ITTOIA 2005;”;

(c)

in sub-paragraph (a)(v) for “by section 541 of the Taxes Act” substitute “under Chapter 9 of Part 4 of ITTOIA 2005”;

(d)

in sub-paragraph (c) for “section 349B(4) of the Taxes Act” substitute “section 935 of ITA 2007”;

(e)

in sub-paragraph (d) for the words from “a corresponding” to “Taxes Act” substitute “a deficiency arising in a tax year and falling within section 539(1) of ITTOIA 2005”.