Statute
Section 655 — Income Tax Act 2007: Transfers under sale and repurchase arrangements
Text of the provision Official document
Transfers under sale and repurchase arrangements 655 1 If there is a sale and repurchase arrangement in respect of securities, this Chapter does not apply to the transfer by T or the transfer back under the arrangement.
2 But subsection (1) does not apply if section 608 prevents section 607 (treatment of price differences under repos) from applying in relation to the arrangement.
Official source: legislation.gov.uk
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