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Income Tax Act 2007
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- UK Public General Acts
- 2007 c. 3
- SCHEDULE 1
- Part 2
- Paragraph 526
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Income Tax (Trading and Other Income) Act 2005 (c. 5)
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526(1)Amend section 457 (disposal of deeply discounted securities by trustees) as follows.
(2)Omit subsection (3).
(3)For subsection (5) substitute—
“(5)If the trustees are trustees of a scheme in relation to which section 504 of ITA 2007 applies, subsection (2) does not apply to profits which are shown in the scheme’s accounts as income available for payment to unit holders or for investment.”
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