Income Tax (Trading and Other Income) Act 2005

382 (1) Amend Schedule 1B (claims for relief involving two or more years) as follows. U.K.

(2) In paragraph 1—

(a) in sub-paragraph (2) for the words from “are any of the following” to “and the same” substitute “ is a claim to which this Schedule applies and the same ”, and

(b) in sub-paragraph (3) for “includes—” to the end substitute “ includes a reference to amendments and revocations to which paragraph 4 below applies. ”

(3) In paragraph 3(1)—

(a) for “a trade of farming or market gardening claims that subsection (2) or (3) of section 96 of the principal Act” substitute “ a qualifying trade, profession or vocation (within the meaning of Chapter 16 of Part 2 of ITTOIA 2005) claims that Chapter 16 of Part 2 of ITTOIA 2005 ”, and

(b) after “that trade” insert “ , profession or vocation ”.

(4) In paragraph 4(1)—

(a) in paragraph (a) for “claims that subsection (2) or (3) of section 96 of the principal Act” substitute “ claims that Chapter 16 of Part 2 of ITTOIA 2005 ”, and

(b) in paragraph (b) for “subsection (9) of that section” substitute “ section 224(4) of that Act ”.

(5) In the italic cross-heading before paragraph 4 for “section 96(9)” substitute “ section 224(4) of ITTOIA 2005 ”.

(6) In paragraph 5—

(a) in sub-paragraph (1)—

(i) for “section 108 of the principal Act” substitute “ section 257 of ITTOIA 2005 ”, and

(ii) for the words from “the date” to “change of basis took place” substitute “ the date of the cessation ”, and

(b) in sub-paragraph (5) for “section 105 of the principal Act” substitute “ section 254 of ITTOIA 2005 ”.