Income Tax Act 2007

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

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

275 (1) Amend section 130 (provisions for securing payment by company of outstanding tax) as follows. U.K.

(2) In subsection (7)—

(a) in paragraph (a), for “203 of the Taxes Act 1988” substitute “ 684 of the Income Tax (Earnings and Pensions) Act 2003 ”,

(b) in paragraph (b), for “to which section 350(4)(a) of that Act (company payments which are not distributions) applies” substitute “ within section 946 of the Income Tax Act 2007 (collection of tax: deposit-takers, building societies and certain companies) ”, and

(c) in paragraph (c)—

(i) omit sub-paragraphs (i) and (ii) and the “or” immediately before sub-paragraph (iii), and

(ii) in sub-paragraph (iii) for “555 of that Act” substitute “ 966 of the Income Tax Act 2007 ”.

(3) After subsection (9) insert—

“(9A) In this section any reference to a provision of the Income Tax (Earnings and Pensions) Act 2003 or the Income Tax Act 2007 shall be construed, in relation to any time at which a corresponding provision of the Taxes Act 1988 or an enactment repealed by that Act had effect, as a reference to that corresponding provision.”

276 U.K. In Schedule 6 (commercial woodlands) omit paragraph 3(3) to (5).

277 U.K. In paragraph 6(1)(b) of Schedule 12 (building societies: change of status) for the words from “section 477A” to the end substitute “ Chapter 2 of Part 15 of the Income Tax Act 2007 (deduction of income tax at source: deposit-takers and building societies) ”.