SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Finance Act 1993 (c. 34)

358

(1)

Amend section 180 (underwriting profits to be earned income) as follows.

(2)

In subsection (1) for paragraph (b) substitute—

“(b)

accordingly, shall constitute—

(i)

for the purposes of Part 4 of the Finance Act 2004, relevant UK earnings within section 189(2)(b) of that Act, and

(ii)

income in relation to which the treatment in section 836(2) of ITA 2007 does not apply.”

(3)

In the sidenote for “earned income” substitute “ relevant UK earnings etc ”.