SCHEDULES

SCHEDULE 2 N.I. Schedule 2 to the Social Security Contributions and Benefits Act 1992: Levy of Class 4 Contributions with Income Tax

Other provisions N.I.

7 N.I. Where an assessment has become final and conclusive for the purposes of income tax for any year, that assessment shall also be final and conclusive for the purposes of computing liability for Class 4 contributions; and no allowance or adjustment of liability, on the ground of diminution of income or loss, shall be taken into account in computing profits F1 ... chargeable to Class 4 contributions unless that allowance or adjustment has previously been made on an application under the special provisions of the Income Tax Acts relating to it, or falls to be allowed under paragraph 3(5) of this Schedule.

Textual Amendments

F1 Words in Sch. 2 para. 7 repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 425(6), Sch. 3 (with Sch. 2)