Commentary on Sections Overview Chapter 2: Accrued income profits and losses Section 646: Pension scheme trustees
1902.This section excludes pension scheme trustees from the accrued income scheme in relation to a transfer of securities if the trustees would be entitled to exemption from income tax on the interest on the securities under section 186 of FA 2004. It is based on section 715(1)(k) and (2)(b) of ICTA.