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Changes over time for: Section 21A
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Version Superseded: 01/04/2009
Status:
Point in time view as at 06/04/2006. This version of this provision has been superseded.
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Changes to legislation:
Income and Corporation Taxes Act 1988, Section 21A is up to date with all changes known to be in force on or before 03 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes to Legislation
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[21A Computation of amount chargeable.U.K.
(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);
[section 588] (training courses for employees);
[section 589A] (counselling services for employees);
section 73(2) of the Finance Act 1988 (consideration for restrictive undertakings);
section 43 of the Finance Act [1989 (Schedule D: computation)];
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
sections 42 and 46(1) and (2) of the Finance Act 1998 (provisions as to computation of profits and losses);
[sections 196 to 200 of the Finance Act 2004 (registered pension schemes);
section 246 of that Act (employer-financed retirement benefits schemes).]
(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 87 (treatment of premiums taxed as rent),
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
section 98 (tied premises: receipts and expenses treated as those of trade).
[(5)Part 1 of Schedule 22 to the Finance Act 2001 (deduction for capital expenditure on remediation of contaminated land) applies in accordance with subsection (1), and the other Parts of that Schedule (further provision as to relief for remediation of contaminated land) have effect in relation to a Schedule A business in accordance with their provisions.]]
Textual Amendments
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