Part 6

Exempt income
Chapter 9

Other income

Interest only income

Redemption of funding bonds
754
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 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.
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)