146(1)Amend section 687A (discretionary payments made by trustees to companies) as follows.
(2)In subsection (1) for paragraph (b) substitute—
“(b)sections 494 and 495 of ITA 2007 apply in relation to the payment;”.
(3)In subsection (2)(a) for “charity” substitute “charitable company”.
(4)In subsection (3)—
(a)in paragraph (a)(iii) for “paragraph 5(1) of Schedule 16” substitute “section 952 of ITA 2007 (set off of income tax suffered against income tax payable)”, and
(b)in paragraph (c) for “section 687(2)” substitute “section 494 of ITA 2007”.
(5)In the sidenote for “Payments to companies under section 687” substitute “Discretionary payments by trustees to companies”.