Section 427 Charge to tax on profits from deeply discounted securities
(1)
Income tax is charged on profits on the disposal of deeply discounted securities.
(2)
The profits are treated as income for income tax purposes if they would not otherwise be income.
Notes on Chapter 8
Modifications
- C1
Pt. 4 Ch. 8 applied (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 406(4), 1329(1) (with Sch. 2 Pts. 1, 2)