Income Tax (Trading and Other Income) Act 2005

Finance Act 1988 (c. 39) U.K.

400 U.K. The Finance Act 1988 is amended as follows.

F1 401 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 1 para. 401 repealed (1.4.2010) (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 13 (with Sch. 9 paras. 1-9, 22)

402 U.K. In section 73(2) (consideration for certain restrictive undertakings)—

(a) for “person” substitute “ company ”, and

(b) for “tax” substitute “ corporation tax ”.

403 U.K. In Schedule 6 (commercial woodlands) in paragraph 3(2) for “person” substitute “ company ”.

404 U.K. In Schedule 12 (building societies: change of status) for paragraph 7 substitute—

“Certified SAYE savings arrangements U.K.

7 Section 702 of the Income Tax (Trading and Other Income) Act 2005 (interest under certified SAYE savings arrangements to be exempt from income tax) shall have effect in relation to any interest (or bonus) payable after the transfer under a savings arrangement which immediately before the transfer was a certified SAYE savings arrangement (within the meaning of section 703(1) of that Act) in relation to the society despite the fact that it ceased to be such an arrangement by reason of the transfer.”