SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Income Tax (Trading and Other Income) Act 2005 (c. 5)

570

1

Amend section 686 (payments received after deduction of tax) as follows.

2

In subsection (1)—

a

for “Income tax deducted under either of the following sections” substitute “ In accordance with section 848 of ITA 2007, a sum representing income tax deducted under Chapter 6 of Part 15 of that Act ”, and

b

omit the words after “recipient”.

3

In subsection (2) for “section 687(2) of that Act” substitute “ section 494(3) of ITA 2007 ”.