Taxes Consolidation Act 1997 section 815

Taxation of income deemed to arise on certain sales of securities

Section 815 counters "bond washing", a practice whereby the owner of a security sells it shortly before an interest payment date so that the accrued interest is received as an exempt capital gain rather than as taxable income.

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.