
Print Options
PrintThe Whole
Act
PrintThe Whole
Part
PrintThe Whole
Chapter
PrintThe Whole
Cross Heading
PrintThis
Section
only
Changes over time for: Section 624


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/04/2008.
Changes to legislation:
There are currently no known outstanding effects for the Income Tax Act 2007, Section 624.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
624Transfers without accrued interestU.K.
This section has no associated Explanatory Notes
(1)The general rule is that securities are transferred without accrued interest for the purposes of this Chapter if they are transferred without the right to receive interest payable as mentioned in section 623(1)(a) or (b).
(2)But, in the case of the transfers specified in subsection (3), subsection (4) applies instead of subsection (1).
(3)The transfers are those treated as made under—
(a)section 620(1)(b) (conversion),
(b)section 650 (trading stock appropriations etc),
(c)section 651 (owner becoming entitled to securities as trustee), and
(d)section 652 (securities ceasing to be held on charitable trusts).
(4)If the person treated as the transferor did not have the right to receive interest payable as mentioned in section 623(1)(a) or (b), the securities are treated as transferred without accrued interest.
(5)This section is subject to section 626 (transfers of variable rate securities).
(6)See also section 648(5) (certain exchanges of strips treated as transfers without accrued interest).
Back to top