Taxation (International and Other Provisions) Act 2010

246 (1) Amend Schedule 7 (transfer schemes: taxation provisions) as follows. U.K.

(2) In paragraph 22(1) after “reliefs)” insert “ , and sections 681AD and 681AE of the Income Tax Act 2007 (which make corresponding provision), ”.

(3) In paragraph 22(2)—

(a) before “and” insert “ or section 681AA or 681AB of the Income Tax Act 2007 ”, and

(b) after the second occurrence of “2010” (which is inserted by CTA 2010) insert “ or section 681AM of the Income Tax Act 2007 ”.

(4) In paragraph 23(1) after “consideration)” insert “ , and Chapter 2 of Part 12A of the Income Tax Act 2007 (which makes corresponding provision), ”.

(5) In paragraph 23(3) before “and sub-paragraph (2)” insert “ , or section 681BA of the Income Tax Act 2007, ”.

(6) In paragraph 24(1) after “others)” insert “ and Chapter 4 of Part 12A of the Income Tax Act 2007 (which makes corresponding provision), ”.

(7) In paragraph 24(2) for “leases: special cases)” substitute “ lease of trading asset), and section 681CC of the Income Tax Act 2007 (which makes corresponding provision), ”.

(8) For paragraph 24(3) substitute—

“(3) In sub-paragraph (1)—

• “lease” has the meaning given by section 884 of the Corporation Tax Act 2010 or section 681DN of the Income Tax Act 2007, and

• “relevant asset” has the meaning given by section 885 of the Corporation Tax Act 2010 or section 681DO of the Income Tax Act 2007.

(4) In sub-paragraph (2)—

• “lease” has the meaning given by section 868 of the Corporation Tax Act 2010 or section 681CF of the Income Tax Act 2007, and

• “relevant asset” has the meaning given by section 869 of the Corporation Tax Act 2010 or section 681CG of the Income Tax Act 2007.”