Finance Act 1998 (c. 36)

SCHEDULES

SCHEDULE 19 Company tax returns, etc.: minor and consequential amendments

Taxes Management Act 1970 (c. 9)

14 (1) Section 30B of the Taxes Management Act 1970 (amendment of partnership statement where loss of tax discovered) is amended as follows.

(2) For subsection (2) substitute—

“(2) Where a partnership statement is amended under subsection (1) above, the officer shall by notice to each of the relevant partners amend—

(a) the partner’s self-assessment under section 9 of this Act, or

(b) the partner’s company tax return,

so as to give effect to the amendments of the partnership statement.”.

(3) In subsection (7)(b) for “section 8, 8A or 11” substitute “section 8 or 8A”.

(4) In subsection (9) for the definition of “profits” substitute—

• ““profits”—

  (a)

  in relation to income tax, means income,

  (b)

  in relation to capital gains tax, means chargeable gains, and

  (c)

  in relation to corporation tax, means profits as computed for the purposes of that tax;”.