Income Tax (Trading and Other Income) Act 2005

Taxation of Chargeable Gains Act 1992 (c. 12)

445 (1) Amend section 271 (miscellaneous exemptions) as follows.

(2) In subsection (1)(f) for “section 322 of the Taxes Act” substitute “section 771 of ITTOIA 2005”.

(3) In subsection (4)—

(a) for “bonus”, in both places, substitute “interest”,

(b) for “section 326 or 326A of the Taxes Act (certified contractual savings schemes and tax-exempt special savings accounts)” substitute “section 702 of ITTOIA 2005 (certified SAYE savings arrangements)”,

(c) for “savings scheme”, in the first place where it occurs, substitute “savings arrangement”,

(d) for “certified contractual savings scheme” substitute “certified SAYE savings arrangement”,

(e) for “scheme”, in the last place where it occurs, substitute “arrangement”, and

(f) at end insert—

“In this subsection “certified SAYE savings arrangement” has the meaning given by section 703 of ITTOIA 2005.”