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Paragraph 366

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Amend section 18 (interest paid without deduction of income tax) as follows.

(2)

In subsection (3E)(b) for “relevant” substitute “ deeply ”.

(3)

For subsection (3F) substitute—

“(3F)

In subsection (3E)(b) above “deeply discounted security” has the same meaning as in Chapter 8 of Part 4 of ITTOIA 2005 (profits from deeply discounted securities) (see section 430 of that Act).”