564TTreatment as securities

1

Investment bond arrangements are securities for the purposes of the Income Tax Acts (including Chapters 1 to 5 of Part 7 of ITEPA 2003).

2

For those purposes—

a

a reference in an enactment to redemption is to be taken as a reference to making the redemption payment, and

b

a reference in an enactment to interest is to be taken as a reference to alternative finance return.

3

In subsection (2) “the redemption payment” has the same meaning as in section 564G (see subsection (1)(d)(ii) of that section).