Part IVIncome Tax, Corporation Tax and Capital Gains Tax

Chapter IPrincipal provisions

Abolition of Schedule C charge etc.

79Abolition of Schedule C charge etc

(1)

The charge to tax under Schedule C is abolished—

(a)

for the purposes of income tax, for the year 1996-97 and subsequent years of assessment;

(b)

for the purposes of corporation tax, for accounting periods ending after 31st March 1996.

(2)

Schedule 7 to this Act (which, together with Chapter II of this Part of this Act, makes provision for imposing a charge under Schedule D on descriptions of income previously charged under Schedule C, and makes connected amendments) shall have effect.