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, ”.