SCHEDULES
SCHEDULE 30 Double taxation relief
Foreign tax on amounts underlying non-trading credits
7
(1)
Amend section 797A of the Taxes Act 1988 (foreign tax on interest brought into account as a non-trading credit) as follows.
(2)
In subsection (1)—
(a)
in paragraph (a) for “amount of interest" substitute “
item
”
, and
(b)
in paragraph (b) for “that amount" and “that interest" substitute “
that item
”
.
(3)
In consequence of sub-paragraph (2) above, in the sidenote for “interest brought into account as" substitute “
items giving rise to
”
.
(4)
The amendments made by this paragraph have effect in relation to accounting periods ending on or after 21st March 2000.