There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Paragraph 454.
454(1)Amend section 40B (allocation of expenditure to periods) as follows.U.K.
(2)In subsection (1) for “person” substitute “ company within the charge to corporation tax ”.
(3)In subsection (2) after “section 40D below” insert “ or section 143 of ITTOIA 2005 ”.
(4)In subsection (3)(b) for “up for a period—” to the end substitute “ up for a period, the accounting period of the company. ”
(5)In subsection (6) for “made—” to the end substitute “ made not later than two years after the end of the relevant period to which the claim relates. ”
(6)In subsection (7)(b) at the end insert “ or section 135 of ITTOIA 2005 (income tax provision corresponding to this section) ”.
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