Taxation (International and Other Provisions) Act 2010 (c. 8)

SCHEDULES

SCHEDULE 2 U.K. Alternative finance arrangements

Part 2 U.K. New Chapter 4 of Part 4 of TCGA 1992

42 U.K. After section 151U insert—

“151V Treatment as securities

(1) Investment bond arrangements are securities for the purposes of this Act and any other enactment about capital gains tax.

(2) For those purposes—

(a) a reference in an enactment to redemption is to be taken as a reference to making the redemption payment, and

(b) a reference in an enactment to interest is to be taken as a reference to alternative finance return.

(3) In subsection (2) “the redemption payment” has the same meaning as in section 151N (see subsection (1)(d)(ii) of that section).”