ITEPA 2003
This section has no associated Explanatory Notes
13In section 446T (securities acquired for less than market value: amount of notional loan), after subsection (3) insert—
“(3A)In subsection (3)(b) and (ba) the references to an amount of exempt income, in a case in which the amount that constitutes, or is treated as, earnings in respect of the acquisition is not an amount of general earnings to which any of the charging provisions of Chapters 4 and 5 of Part 2 applies, includes any amount that would be an amount of exempt income if any of those charging provisions were to apply.”