# Income Tax Act 2007, Paragraph 515

Extent: E+W+S+N.I.

(1) Amend section 397 (tax credits for qualifying distributions: UK residents and eligible non-UK residents) as follows.
(2) In subsection (2) omit paragraph (b) and the “or” immediately before it.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) In subsection (6) for the words from “section 231AA” to “umbrella scheme),” substitute—
“section 504(4) of ITA 2007 (disapplication of certain provisions for income of unauthorised unit trusts),
section 592 of ITA 2007 (no tax credits for borrower under stock lending arrangement),
section 593 of ITA 2007 (no tax credits for interim holder under repo),
section 594 of ITA 2007 (no tax credits for original owner under repo),”.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/schedule/1/paragraph/515 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/schedule-1/paragraph-515
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.