Part 4 U.K. Savings and investment income

Chapter 11 U.K. Transactions in deposits

551 Charge to tax on profits from disposal of deposit rights U.K.

(1) Income tax is charged on profits and gains from the disposal of deposit rights.

(2) For the purposes of this section, the exercise of a deposit right is a disposal of itF1 ....

Textual Amendments

F1 Words in s. 551(2) omitted (with effect in accordance with Sch. 25 para. 10 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 25 para. 9(2)(a)(i)