Part 5Loan Relationships
Chapter 12Special rules for particular kinds of securities
Funding bonds
414Redemption of funding bonds
1
The redemption of funding bonds is not treated as the payment of interest on a debt for the purposes of the Corporation Tax Acts if their issue was treated as the payment of interest on the debt under—
a
section 413, or
b
section 380 of ITTOIA 2005 (which makes provision corresponding to section 413 for income tax purposes).
2
In this section “funding bonds” includes any bonds, stocks, shares, securities or certificates of indebtedness.