Chapter 1: Introduction
Section 565: Overview of Part
1694.This section gives an overview of the Part. It is new.
1695.The remaining sections of this Chapter explain some important terms which are used in the same sense throughout this Part.
Section 566: Meaning of “UK shares” and “UK securities”
1696.This section defines “UK shares” and “UK securities”. It is based on sections 737B and 737C of, and paragraph 1 of Schedule 23A to, ICTA.
1697.This Part uses the label “UK shares” for income tax purposes instead of the label “United Kingdom equities” given in paragraph 1 of Schedule 23A to ICTA, as the definition includes preference shares. The label “United Kingdom equities” is retained in Schedule 23A for corporation tax purposes.
Section 567: Meaning of “overseas securities” and “overseas dividend”
1698.This section defines “overseas securities” and “overseas dividend”. It is based on sections 737B and 737C of, and paragraph 1 of Schedule 23A to, ICTA.
Section 568: Meaning of “stock lending arrangement”
1699.This section defines “stock lending arrangement”. It is based on sections 231AA and 736B of ICTA and sections 263B and 263C of TCGA.
Section 569: Meaning of “repo”
1700.This section defines “repo”. It is based on sections 231AA, 231AB, 730A, 730B, 737B and 737E of, and paragraph 1 of Schedule 23A to, ICTA.
Section 570: Meaning of “buying back” securities etc.
1701.This section provides the meaning of the expression “buying back” securities. It is based on sections 730B, 737B and 737E of ICTA.
Section 571: Meaning of “related” agreements
1702.This section explains when agreements are “related”. It is based on sections 730B, 737B and 737E of ICTA.
