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Finance Act 2005

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Changes over time for: Cross Heading: ICTA

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Version Superseded: 01/04/2009

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Status:

Point in time view as at 10/07/2008.

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2005, Cross Heading: ICTA. Help about Changes to Legislation

ICTAU.K.

21U.K.In section 43A of ICTA (rent factoring: meaning of “finance agreement”), in subsection (3) (reference to consolidated group accounts), omit paragraphs (a) and (b) and the word “and” preceding paragraph (a).

22U.K.In section 75A(10) of ICTA (accounting period to which expenses of management are referable)—

(a)in paragraph (a) after “profit and loss account” insert “ or income statement ”, and

(b)in paragraph (b), after “gains and losses” insert “ , statement of changes in equity ”.

23U.K.In section 501A of ICTA (supplementary charge in respect of ring-fence trades), in subsection (10) (reference to group accounts) for paragraph (b) substitute—

(b)are drawn up in accordance with generally accepted accounting practice..

24(1)Section 747A of ICTA (special rule requiring chargeable profits of controlled foreign companies to be computed in currency of accounts of company's first relevant accounting period) shall cease to have effect.U.K.

(2)This amendment has effect in relation to accounting periods beginning on or after 16th March 2005.

25U.K.Section 836A of ICTA (meaning of generally accepted accounting practice) shall cease to have effect.

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