(1) In the application of this Chapter to personal portfolio bonds, certain special rules apply.
(2) See, in particular—
section 515 (requirement for annual calculations in relation to personal portfolio bonds), and
sections 522 to 525 (method for making calculations and chargeable events where calculations show gains).
(3) For the meaning of “personal portfolio bond” see section 516.
This Act comes into force on 6 April 2005 and has effect, for the purposes of income tax for the year 2005–06 and subsequent tax years, and for the purposes of corporation tax for accounting periods ending after 5 April 2005: see s 883; for transitional provisions and savings see Sch 2 hereto.
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