Part III U.K. Income Tax, Corporation Tax and Capital Gains Tax

Chapter I U.K. Income Tax and Corporation Tax

Computation of profits of trade, profession or vocation U.K.

46 Minor and consequential provisions about computations. U.K.

F1 (1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(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.

Textual Amendments

F1 S. 46(1) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 453, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F2 S. 46(2) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 453, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)