Part 6 U.K. Exempt income

Chapter 9 U.K. Other income

Interest only income U.K.

754 Redemption of funding bonds U.K.

(1) The redemption of funding bonds is not treated as the payment of interest on a debt for income tax purposes if their issue was treated under section 380 of this Act or [F1 section 413 of CTA 2009] as the payment of interest on the debt.

(2) In this section “funding bonds” includes any bonds, stocks, shares, securities or certificates of indebtedness.

Textual Amendments

F1 Words in s. 754(1) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 636 (with Sch. 2 Pts. 1, 2)