Part III Income Tax, Corporation Tax and Capital Gains Tax
Chapter I Income Tax and Corporation Tax
Computation of profits of trade, profession or vocation
46 Minor and consequential provisions about computations.
F11
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F22
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3
In the provisions of the Tax Acts which refer to the subject of the charge under Case I or II of Schedule D as “profits or gains” or “profits and gains" of a trade, profession or vocation—
a
for “profits or gains" or “profits and gains", wherever occurring, substitute “
profits
”
, and
b
for “arising or accruing", in reference to such profits or gains, substitute “
arising
”
.
The provisions affected are listed in Schedule 7 to this Act.