SCHEDULES

SCHEDULE 1Consequential amendments

Part 2Other enactments

Income Tax (Earnings and Pensions) Act 2003 (c. 1)

588

In section 180(5) (threshold for benefit of loan to be treated as earnings)—

a

in paragraph (c)—

i

for “under Case I or II of Schedule D” substitute “ to tax ”, and

ii

after “carried on” insert “ wholly or partly in the United Kingdom ”, and

b

in paragraph (d) for “under Schedule A in respect of a Schedule A business” substitute “ to tax in respect of a UK property business, or a Schedule A business, ”.