SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Income Tax (Earnings and Pensions) Act 2003 (c. 1)
450
1
Amend Schedule 5 (enterprise management incentives) as follows.
2
In paragraph 11(10) (meaning of “qualifying subsidiary”)—
a
for “section 312(2A) of ICTA” substitute “
section 252 of ITA 2007
”
, and
b
for “Chapter 3 of Part 7 of ICTA” substitute “
Part 5 of ITA 2007
”
.
3
In paragraph 58, in the definition of “research and development”, for “section 837A of ICTA” substitute “
section 1006 of ITA 2007
”
.
4
In paragraph 59—
a
in the entry for “child”, in the second column, for “section 832(5) of ICTA (and see section 721(6) of this Act)” substitute “
section 721(6)
”
,
b
in the entry for “close company”, in the second column, for “section 832(1) of ICTA” substitute “
section 989 of ITA 2007
”
,
c
in the entry for “distribution”, in the second column, for “section 832(1) of ICTA” substitute “
section 989 of ITA 2007
”
,
d
in the entry for “farming”, in the second column, for “section 832(1) of ICTA” substitute “
section 996 of ITA 2007
”
,
e
in the entry for “generally accepted accounting practice”, in the second column, for “section 50(1) of the Finance Act 2004” substitute “
section 997 of ITA 2007
”
,
f
in the entry for “notice”, in the second column, for “section 832(1) of ICTA” substitute “
section 989 of ITA 2007
”
,
g
in the entry for “offshore installation”, in the second column, for “section 837C of ICTA” substitute “
sections 1001 and 1002 of ITA 2007
”
,
h
in the entry for “ordinary share capital”, in the second column, for “section 832(1) of ICTA” substitute “
section 989 of ITA 2007
”
,
i
in the entry for “personal representatives”, in the second column, for “section 721(1)” substitute “
section 989 of ITA 2007
”
,
j
in the entry for “51% subsidiary”, in the second column, for “section 838(1) of ICTA” substitute “
section 989 of ITA 2007
”
,
k
in the entry for “tax”, in the second column, at the end insert “
(as applied by section 989 of ITA 2007)
”
,
l
in the entry for “tax year”, in the second column, for “section 721(1)” substitute “
section 4(2) of ITA 2007 (as applied by section 989 of that Act)
”
,
m
in the entry for “trade”, in the second column, for “section 832(1) of ICTA” substitute “
section 989 of ITA 2007
”
, and
n
in the entry for “United Kingdom”, in the second column, for “section 830 of ICTA” substitute “
section 1013 of ITA 2007
”
.