939 Duty to retain bonds where issue treated as payment of interest
Income Tax Act 2007 (2007 c 3) | Legislation

Chapter 12
Funding Bonds

939  Duty to retain bonds where issue treated as payment of interest

(1)     This section applies if—

(a)     there is an issue of funding bonds to a creditor in respect of a liability to pay interest on a debt incurred by a government, public institution, other public authority or body corporate,

(b)     by virtue of [section 413 of CTA 2009] or section 380 of ITTOIA 2005, the issue is treated as if it were a payment of an amount of interest (“the deemed interest”), and

(c)     the person by or through whom

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