Income Tax Act 2007 section 609

Additional income tax consequences of price differences

Section 609 deals with additional income tax consequences that arise when there is a price difference in connection with the transfer of rights under a bond, and sets out how those consequences interact with the rules in section 607.

• Where section 607 applies and treats a price difference as income, section 609 sets out additional tax consequences that follow from that treatment.
• The section builds on the framework established in section 607 by addressing supplementary matters such as the interaction with other tax provisions.
• These rules originally derive from section 730A(4), (4A) and (7) of the Income and Corporation Taxes Act 1988 (ICTA), rewritten into the 2007 Act.
• The section was subsequently amended by Finance Act 2013, Schedule 12, paragraph 15(2)(d).

---