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Legislation
Income Tax Act 2007

Crossheading Calculating accrued income profits and losses

  • Section 628 Making accrued income profits and losses: general rule
  • Section 629 Calculating accrued income profits and losses where section 628 applies
  • Section 630 Making accrued income profits: settlement day outside interest period
  • Section 631 Amount of accrued income profits where section 630 applies
  1. Calculating accrued income profits and losses
  2. Amount of accrued income profits where section 630 applies

Section 631 | Amount of accrued income profits where section 630 applies

From legislation.gov.uk

(1)In the case of a transfer of securities with unrealised interest to which section 630 applies, the amount of the accrued income profits treated as made is equal to the unrealised interest.

(2)Subsection (1) is subject to section 660 (transfers with unrealised interest: interest in default).

(3)In the case of a transfer of variable rate securities to which section 630 applies, the amount of the accrued income profits treated as made is such amount as is just and reasonable.

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