Part 13Tax avoidance
Chapter 1Transactions in securities
Introduction
683Meaning of “income tax advantage”
1
In this Chapter “income tax advantage” means—
a
a relief from income tax or increased relief from income tax,
b
a repayment of income tax or increased repayment of income tax,
c
the avoidance or reduction of a charge to income tax or an assessment to income tax, or
d
the avoidance of a possible assessment to income tax.
2
For the purposes of subsection (1)(c) and (d) it does not matter whether the avoidance or reduction is effected—
a
by receipts accruing in such a way that the recipient does not pay or bear income tax on them, or
b
by a deduction in calculating profits or gains.
3
In this section “relief from income tax” includes a tax credit.