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Finance Act 2020

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Changes over time for: Paragraph 29

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Point in time view as at 01/10/2021.

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There are currently no known outstanding effects for the Finance Act 2020, Paragraph 29. Help about Changes to Legislation

29(1)Section 269ZF (“relevant trading profits” and “relevant non-trading profits”) is amended in accordance with this paragraph.U.K.

(2)In subsection (2)—

(a)for “ “relevant non-trading profits””, in both places it occurs, substitute “ “relevant non-trading income profits” ”,

(b)in paragraph (a), for “qualifying non-trading profits” substitute “ qualifying non-trading income profits ”, and

(c)in paragraph (b) for “non-trading profits deductions allowance” substitute “ non-trading income profits deductions allowance ”.

(3)In subsection (3), in the words before step 1, for “and qualifying non-trading profits” substitute “ , qualifying non-trading income profits and qualifying chargeable gains ”.

(4)In subsection (3), in paragraph (3) of step 1—

(a)for “and relevant non-trading profits” substitute “ , qualifying non-trading income profits and qualifying chargeable gains ”, and

(b)for “both” substitute “ each ”.

(5)In subsection (3), in paragraph (3) of step 2—

(a)for “and the qualifying non-trading profits” substitute “ , qualifying non-trading income profits and qualifying chargeable gains ”, and

(b)for “both” substitute “ each ”.

(6)In the heading, for “and “relevant non-trading profits”” substitute “ , “total relevant non-trading profits” etc ”.

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