SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Income Tax (Trading and Other Income) Act 2005 (c. 5)
502
1
Amend section 232 (treatment of trading adjustment income) as follows.
2
In subsection (3) for “Chapter 1 of Part 10 of ICTA” substitute “
Part 4 of ITA 2007
”
.
3
In subsection (4) for the words from “the trade” to the end substitute “
the trade is relevant UK earnings within section 189(2)(b) of FA 2004, adjustment income is similarly relevant UK earnings.
”