PART IIF2PROVISIONS RELATING TO THE SCHEDULE A CHARGE
General
F121A Computation of amount chargeable.
1
Except as otherwise expressly provided, the profits of a Schedule A business are computed in the same way as the profits of a trade are computed for the purposes of Case I of Schedule D.
2
The following provisions apply in accordance with subsection (1)—
section 72 (apportionment);
the provisions of Chapter V of Part IV (computational provisions relating to the Schedule D charge), except as mentioned in subsection (4) below;
section 577 (business entertainment expenses);
section 577A (expenditure involving crime);
sections 579 and 580 (redundancy payments);
sections 588 and 589 (training courses for employees);
sections 589A and 589B (counselling services for employees);
section 73(2) of the M1Finance Act 1988 (consideration for restrictive undertakings);
section 43 of the M2Finance Act 1989 (deductions in respect of certain emoluments);
section 76 of that Act (expenses in connection with non-approved retirement benefit schemes);
sections 112 and 113 of that Act (expenditure in connection with provision of security asset or service);
sections 42 and 46(1) and (2) of the Finance Act 1998 (provisions as to computation of profits and losses).
3
Section 74(1)(d) of this Act (disallowance of provisions for future repairs) applies in relation to a Schedule A business as if the reference to premises occupied for the purposes of the trade were to premises held for the purposes of the Schedule A business.
4
The following provisions in Chapter V of Part IV of this Act do not apply, or are excepted from applying, in accordance with subsection (1)—
section 82 (interest paid to non-residents),
section 87 (treatment of premiums taxed as rent),
section 96 (farming and market gardening: relief for fluctuating profits), and
section 98 (tied premises: receipts and expenses treated as those of trade).
Pt. 2 heading substituted (with effect as mentioned in s. 38(2)(3) of the amending Act) by Finance Act 1998 (c. 36), s. 38(1), Sch. 5 para. 3 (with Sch. 5 para. 73)