Part 7 Relocation of Section 475 of ICTA
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

Part 7 Relocation of Section 475 of ICTA

Income and Corporation Taxes Act 1988 (c 1)

40

ICTA is amended as follows.

41

Omit section 475 (tax-free Treasury securities: exclusion of interest on borrowed money).

Income Tax (Trading and Other Income) Act 2005 (c 5)

42

ITTOIA 2005 is amended as follows.

43

Before section 155 (before the italic cross-heading) insert—

“154A Certain non-UK residents with interest on 3½% War Loan 1952 Or After

(1)     This section applies if—

(a)     in any tax year a person who is not ordinarily resident in the United Kingdom carries on a trade there—

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