311 Reverse premiums
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

Reverse premiums as receipts

311  Reverse premiums

(1)     This section applies if—

(a)     a person receives a reverse premium, and

(b)     the reverse premium is not brought into account under section 101(2) in calculating the profits of any trade carried on by the person.

(2)     The person is treated as—

(a)

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