Commentary on Sections Overview Chapter 2: Accrued income profits and losses Section 664: Foreign currency securities: sterling equivalent of payments on transfers
1966.This section provides for the application of the accrued income scheme if the interest on the securities is payable in a currency other than sterling. It is based on sections 713(7), (8), 716(6) and 726A(5) of ICTA.
1967.This section sets out the rules for converting amounts into sterling.