Discounted securitiesU.K.
This section has no associated Explanatory Notes
5In the case of a Part 5 transfer of property consisting of a [F1deeply] discounted security (within the meaning of [F2Chapter 8 of Part 4 of ITTOIA 2005]), it is not to be treated as a transfer for the purposes of [F2that Chapter].
Textual Amendments
F1Word in Sch. 10 para. 5 substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 583(3)(a) (with Sch. 2)
F2Words in Sch. 10 para. 5 substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 583(3)(b) (with Sch. 2)
Commencement Information
I1Sch. 10 para. 5 in force at 24.2.2003 by S.I. 2003/120, art. 2, Sch. (with arts. 3, 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)