Statute
Section 631 — Income Tax Act 2007: Amount of accrued income profits where section 630 applies
Text of the provision Official document
Amount of accrued income profits where section 630 applies 631 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.
Official source: legislation.gov.uk
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