Income Tax (Trading and Other Income) Act 2005

Finance Act 2003 (c. 14) U.K.

621 U.K. The Finance Act 2003 is amended as follows.

622 U.K. F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 1 para. 622 repealed (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1031, 1034, Sch. 3 Pt. 1 (with transitional provisions and savings in Sch. 2)

623 U.K. Omit section 176 (foster carers).

624 (1) Amend Schedule 24 (restriction of deductions for employee benefit contributions) as follows.

(2) In paragraph 1—

(a) in sub-paragraph (1)(a) for “tax purposes” substitute “ corporation tax purposes ”, and

(b) in sub-paragraph (2)(a) for “he” substitute “ the employer ”.

(3) In paragraph 3(a) for “tax purposes” substitute “ corporation tax purposes ”.

(4) In paragraph 9(1) omit the definition of “for tax purposes”.

625 U.K. In Schedule 34 (policies of life insurance etc: miscellaneous amendments), in paragraph 15(1), after “1988” insert “ or Chapter 9 of Part 4 of the Income Tax (Trading and Other Income) Act 2005 ”.

626 U.K. Omit Schedule 36 (foster carers).