# Income Tax (Trading and Other Income) Act 2005, Section 381: Discounts

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

(1) All discounts, other than discounts in deeply discounted securities, are treated as interest for the purposes of this Act.
(2) In this section “deeply discounted securities” means securities to which Chapter 8 of this Part applies (profits from deeply discounted securities).

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/381 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-381
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.