PART IVPROVISIONS RELATING TO THE SCHEDULE D CHARGE
CHAPTER VIIIMISCELLANEOUS AND SUPPLEMENTAL
126Treasury securities issued at a discount
1
Where a security to which this section applies is issued at a discount, tax shall not be charged in respect of the discount under Case III of Schedule D; but the discount shall not for that reason be regarded as annual profits or gains chargeable to tax under Case VI of Schedule D.
2
This section applies to all securities issued by the Treasury after 6th March 1973 except Treasury bills.