Income Tax (Trading and Other Income) Act 2005

420 (1) Amend section 15 (Class 4 contributions recoverable under the Income Tax Acts) as follows. U.K.

(2) In subsection (1)—

(a) for “annual profits or gains” substitute “ profits ”,

(b) omit the “and” at the end of paragraph (a),

(c) in paragraph (b) for “are profits or gains chargeable to income tax under Case I or Case II of Schedule D” substitute “ are profits chargeable to income tax under Chapter 2 of Part 2 of the Income Tax (Trading and Other Income) Act 2005 ”, and

(d) at the end of that paragraph insert “and

(c) are not profits of a trade, profession or vocation carried on wholly outside the United Kingdom.”

(3) In subsections (2), (3) and (3A) omit “or gains” in each place where they occur.

(4) Omit subsection (4).