Income Tax (Trading and Other Income) Act 2005 section 716

Restriction on deductions etc. relating to FOTRA securities

Section 716 prevents a person who beneficially owns a FOTRA security and is exempt from tax on it from claiming any related deductions or losses for income tax purposes.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.