SCHEDULES
SCHEDULE 22 Prevention of exploitation of F1SCHEDULE 2 TO ITTOIA 2005 (SO FAR AS RELATING TO OVERLAP PROFIT)
Annotations:
Amendments (Textual)
Part IV Interpretation
General
21
1
In this Schedule “turnover”, in relation to a trade, profession or vocation, means the amounts derived from the provision of goods or services falling within its ordinary activities, after deduction of trade discounts and value added tax.
2
Obtaining a tax advantage shall not be regarded as a bona fide commercial reason for the purposes of this Schedule.
Words in Sch. 22 heading substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 484(12) (with Sch. 2)