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Income Tax (Trading and Other Income) Act 2005

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Changes over time for: Paragraph 235

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Version Superseded: 01/04/2009

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Point in time view as at 07/04/2005.

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There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Paragraph 235. Help about Changes to Legislation

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235(1)Amend section 577 (business entertaining expenses) as follows.U.K.

(2)In subsection (1)(a)—

(a)for “tax” substitute “ corporation tax ”, and

(b)for “the Tax Acts” substitute “ the Corporation Tax Acts ”.

(3)In subsection (3)—

(a)for “any person” substitute “ any company ”,

(b)for “by him”, in the first and second places where it occurs, substitute “ by the company ”, and

(c)for “a member of his staff” substitute “ an employee of the company ”.

(4)In subsection (5)—

(a)for “a person” substitute “ a company ”,

(b)for “a member of his staff” substitute “ an employee of the company ”,

(c)for “that person” substitute “ the company ”,

(d)for “him” substitute “ the company ”, and

(e)for “members of his staff” substitute “ employees of the company ”.

(5)In subsection (7)—

(a)in paragraph (b) for “, profession or vocation” substitute “ or profession ”, and

(b)in paragraph (c)—

(i)for “the members of a person's staff” substitute “ a company's employees ”,

(ii)for “that person” substitute “ the company ”, and

(iii)for “a company”, in both places where it occurs, substitute “ the company ”.

(6)In subsection (8)(b)—

(a)for “him”, in both places where it occurs, substitute “ the donor ”, and

(b)for “relevant tax period” substitute “ accounting period ”.

(7)Omit subsection (8A).

(8)In subsection (10)—

(a)for “any person” substitute “ any company ”,

(b)for “his trade” substitute “ its trade ”, and

(c)for “by him” substitute “ by the company ”.

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