Qualifying corporate bonds: relevant discounted securities: meaning
FA96/SCH13/PARA3A relevant discounted security is a security, whenever issued, where
- taking the security as at the time of issue, and
- assuming redemption in accordance with its terms,the amount payable on redemption is, or might be, an amount which would involve a `deep gain’.
For advice on what is or might constitute a deep gain, see IM1538+.