# Income Tax (Trading and Other Income) Act 2005, Paragraph 81


(1) Sections 447 and 448 (restriction of profits and losses on strips by reference to original acquisition cost) do not apply to a strip acquired before 15th January 2004.
(2) For the purposes of paragraph (1) any deemed acquisitions under paragraph 14(4) of Schedule 13 to FA 1996 or section 445(3) of this Act are ignored.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/schedule/2/paragraph/81 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-2/paragraph-81
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.