Regulation 24 Exemption from tax of account income and gains

in respect of interest, dividends, distributions or gains in respect of account investments F1(excluding any building society bonus),

in respect of alternative finance return or profit share return paid by a financial institution (within the meanings in Chapter 5 of Part 2 of the Finance Act 2005);

in respect of a payment under a building society bonus scheme, so far as the payment is calculated by reference to account investments (and if paid directly by the society into the account, the payment shall not count towards the subscription limit in regulation 9);

on any annual profits or gains treated F4under Part 12 of ITA 2007 as having been received by any of them in respect of account investments,

on an offshore income gain to which a disposal made by any of them of an account investment gives rise, which is treated by section 761(1) of the Taxes Act as constituting profits or gains,

on a profit on the disposal of a deeply discounted security within the meaning given by section 430 of ITTOIA 2005, or

in respect of gains treated F6under Chapter 9 of Part 4 of ITTOIA 2005 as arising in connection with a policy of life insurance which is an account investment;

for references to a plan manager, substitute references to an account provider,

for references to a plan, substitute references to an account, and

for the reference to F9Chapter 3 of Part 6 of ITTOIA 2005, substitute a reference to the Act;