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Version Superseded: 01/04/2009
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There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Cross Heading: Taxes Management Act 1970 (c. 9).
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357U.K.The Taxes Management Act 1970 is amended as follows.
358(1)Amend section 7 (notice of liability to income tax and capital gains tax) as follows.U.K.
(2)In subsection (6)—
(a)in paragraph (c) for “Schedule F” substitute “ Chapter 3 of Part 4 of ITTOIA 2005 (dividends etc. from UK resident companies etc.) ”, and
(b)for “Schedule F”, in the second place where it occurs, substitute “ dividend ”.
(3)In subsection (9) in each of paragraphs (a) and (aa) for “Chapter II of Part XIII of the principal Act” substitute “ Chapter 9 of Part 4 of ITTOIA 2005 ”.
359U.K.In section 8(1AA)(b) (personal returns) for “section 231 of the principal Act” substitute “ section 397(1) of ITTOIA 2005 ”.
360U.K.In section 8A(1AA)(b) (trustee's returns) for “section 231 of the principal Act” substitute “ section 397(1) of ITTOIA 2005 ”.
361U.K.In section 9(1) (returns to include self-assessment)—
(a)in paragraph (b) for “section 231 of the principal Act” substitute “ section 397(1) of ITTOIA 2005 ”,
(b)omit “233(1),” and “, 249(4), 421(1) or 547(5)”, and
(c)for “or section 626 of ITEPA 2003” substitute “ , section 626 of ITEPA 2003 or section 399(2), 400(2), 414(1), 421(1) or 530(1) of ITTOIA 2005 ”.
362U.K.Omit section 9D (choice between different Cases of Schedule D).
363U.K.In section 12AA(1A)(b) (partnership returns) for “section 231 of the principal Act” substitute “ section 397(1) of ITTOIA 2005 ”.
364U.K.In section 12AB(5) (partnership return to include partnership statement) in the definition of “tax credit” after “applies” insert “ in the case of corporation tax and section 397(1) of ITTOIA 2005 applies in the case of income tax ”.
365U.K.In section 12AE(2) (choice between different Cases of Schedule D) omit paragraph (a).
366(1)Amend section 18 (interest paid without deduction of income tax) as follows.U.K.
(2)In subsection (3E)(b) for “relevant” substitute “ deeply ”.
(3)For subsection (3F) substitute—
“(3F)In subsection (3E)(b) above “deeply discounted security” has the same meaning as in Chapter 8 of Part 4 of ITTOIA 2005 (profits from deeply discounted securities) (see section 430 of that Act).”
367(1)Amend section 19 (information for purposes of Schedule A) as follows.U.K.
(2)In subsection (1) after “profits or gains chargeable to tax” insert “ under Chapter 3 of Part 3 of ITTOIA 2005 as the profits of a UK property business or ”.
(3)In the side-note after “for purposes of” insert “ charge on profits of UK property businesses or under ”.
368U.K.In section 27(2) (settled property) for “section 660G(1) and (2) of the principal Act” substitute “ section 620 of ITTOIA 2005 ”.
369U.K.In section 30 (recovery of overpayment of tax, etc.) omit subsection (4).
370U.K.In section 30A(2) (assessing procedure) for “Schedule” substitute “ Part or Chapter of ITEPA 2003 or ITTOIA 2005 ”.
371U.K.In section 31(3) (appeals: right of appeal) omit “9D or”.
372U.K.In section 42(7) (procedure for making claims etc.) omit the “and” before paragraph (d) and after that paragraph insert “and
(e)sections 111(1), 126(2), 129(2), 143, 185, 194 and 326 of ITTOIA 2005.”
373(1)Amend section 46B (questions to be determined by Special Commissioners) as follows.U.K.
(2)In subsection (4)—
(a)omit “of the principal Act”,
(b)in paragraph (a) for “Chapter 1A or 1B of Part XV” substitute “ Chapter 5 of Part 5 of ITTOIA 2005 ”,
(c)omit paragraph (b),
(d)F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(e)F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)After subsection (4) insert—
“(4A)Any question as to the application of—
(a)Part XVI of the principal Act (administration of estates: corporation tax), or
(b)Chapter 6 of Part 5 of ITTOIA 2005 (administration of estates: income tax),
is a question to be determined by the Special Commissioners.”
(4)In subsection (5) after paragraph (c) insert “or
(d)section 874 of ITTOIA 2005,”.
Textual Amendments
F1Sch. 1 para. 373(2)(d)(e) 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)
374U.K.In section 46C (jurisdiction of Special Commissioners over certain claims included in returns) omit subsection (3)(a).
375U.K.In section 58(3)(b) (proceedings in tax cases in Northern Ireland) before “section 11 of or paragraph 22” insert “ section 186 of ITTOIA 2005, ”.
376U.K.In section 59A(8)(b) (payments on account of income tax) for “section 231 of the principal Act” substitute “ section 397(1) of ITTOIA 2005 ”.
377(1)Amend section 59B (payment of income tax and capital gains tax) as follows.U.K.
(2)In subsection (1)—
(a)omit “233(1),” and “, 249(4), 421(1) or 547(5)”, and
(b)for “or section 626 of ITEPA 2003” substitute “ , section 626 of ITEPA 2003 or section 399(2), 400(2), 414(1), 421(1) or 530(1) of ITTOIA 2005 ”.
(3)In subsection (2)(b) (payment of income tax and capital gains tax) for “section 231 of that Act” substitute “ section 397(1) of ITTOIA 2005 ”.
378U.K.In section 90(1)(b) (disallowance of relief for interest on tax) for “any tax purposes” substitute “ any corporation tax purpose (but see also sections 54 and 869 of ITTOIA 2005 for corresponding rule for income tax purposes) ”.
379(1)Amend section 98 (special returns, etc) as follows.U.K.
(2)In subsection (4DA)(c) for “section 98 of the Finance Act 2004” substitute “ section 758 of ITTOIA 2005 ”.
(3)In the first column of the Table—
(a)omit the entry relating to regulations under section 326C of ICTA,
(b)omit the entry relating to section 660F of ICTA, and
(c)at the end insert—
“Section 75(5) of ITTOIA 2005.
Section 128 of ITTOIA 2005
Section 305 of ITTOIA 2005.
Section 647 of ITTOIA 2005.
Regulations under Chapter 3 of Part 6 of ITTOIA 2005.”
(4)In the second column of the Table—
(a)omit the entry relating to regulations under section 326C of ICTA, and
(b)at the end insert—
“Section 75(4) of ITTOIA 2005.
Regulations under Chapter 3 of Part 6 of ITTOIA 2005.”
380U.K.In section 118(1) (interpretation) after the definition of “ITEPA 2003” insert—
““ITTOIA 2005” means the Income Tax (Trading and Other Income) Act 2005,”.
381U.K.In Schedule 1A (claims etc. not included in returns), in paragraph 10(b), for “(administration of estates)” substitute “ (administration of estates: corporation tax) or Chapter 6 of Part 5 of ITTOIA 2005 (administration of estates: income tax) ”.
382(1)Amend Schedule 1B (claims for relief involving two or more years) as follows.U.K.
(2)In paragraph 1—
(a)in sub-paragraph (2) for the words from “are any of the following” to “and the same” substitute “ is a claim to which this Schedule applies and the same ”, and
(b)in sub-paragraph (3) for “includes—” to the end substitute “ includes a reference to amendments and revocations to which paragraph 4 below applies. ”
(3)In paragraph 3(1)—
(a)for “a trade of farming or market gardening claims that subsection (2) or (3) of section 96 of the principal Act” substitute “ a qualifying trade, profession or vocation (within the meaning of Chapter 16 of Part 2 of ITTOIA 2005) claims that Chapter 16 of Part 2 of ITTOIA 2005 ”, and
(b)after “that trade” insert “ , profession or vocation ”.
(4)In paragraph 4(1)—
(a)in paragraph (a) for “claims that subsection (2) or (3) of section 96 of the principal Act” substitute “ claims that Chapter 16 of Part 2 of ITTOIA 2005 ”, and
(b)in paragraph (b) for “subsection (9) of that section” substitute “ section 224(4) of that Act ”.
(5)In the italic cross-heading before paragraph 4 for “section 96(9)” substitute “ section 224(4) of ITTOIA 2005 ”.
(6)In paragraph 5—
(a)in sub-paragraph (1)—
(i)for “section 108 of the principal Act” substitute “ section 257 of ITTOIA 2005 ”, and
(ii)for the words from “the date” to “change of basis took place” substitute “ the date of the cessation ”, and
(b)in sub-paragraph (5) for “section 105 of the principal Act” substitute “ section 254 of ITTOIA 2005 ”.
383U.K.In paragraph 10 of Schedule 3 (rules for assigning proceedings to General Commissioners) after “of the principal Act” insert “ , section 186 of ITTOIA 2005 ”.
384U.K.In paragraph 2(4) of Schedule 3A (electronic lodgement of tax returns, etc.) after “ITEPA 2003” insert “ or ITTOIA 2005 ”.
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