Income Tax Act 2007 (c. 3)

Part 12 U.K. Accrued income profits

Chapter 2 U.K. Accrued income profits and losses

Transfers to which Chapter applies U.K.

625 Transfers with unrealised interest U.K.

(1) For the purposes of this Chapter securities are transferred with unrealised interest if they are transferred with the right to receive interest payable on an interest payment day falling before the settlement day.

(2) Such interest is referred to in this Chapter as “unrealised interest”.