# Taxation (International and Other Provisions) Act 2010, Paragraph 19


After section 564Q insert—
“Special rules for investment bond arrangements
Treatment of discount
564R (1) This section applies if any part of the additional payments in respect of investment bond arrangements is excluded from being alternative finance return by section 564L(4) because it equates in substance to discount.
(2) That part is treated in accordance with section 381 of ITTOIA 2005 (discounts) unless subsection (3) applies.
(3) If the arrangements are deeply discounted securities for the purposes of Chapter 8 of Part 4 of that Act (profits from deeply discounted securities), that part is treated in accordance with that Chapter.
(4) In this section “additional payments” has the same meaning as in section 564G of this Act (see subsection (1)(d)(iii) of that section).”

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Source: https://www.legislation.gov.uk/ukpga/2010/8/schedule/2/paragraph/19 (the official version)
Page: https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/schedule-2/paragraph-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.