SCHEDULES

SCHEDULE 5 Rent and other receipts from land

Part IV Transitional provisions for corporation tax

Introduction

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1

This Part of this Schedule makes provision with respect to the application of the provisions of Parts I to III of this Schedule for corporation tax purposes.

2

In this Part of this Schedule—

  • “before commencement” and “after commencement” mean, respectively, before 1st April 1998 and on or after that date; and

  • “the new rules” means the provisions of the Tax Acts relating to Schedule A taxation or, as the case may be, to the taxation under Case V of Schedule D of income from land outside the United Kingdom, as they have effect after commencement.