SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
52
1
Amend section 347A (annual payments: general rule) as follows.
2
For subsection (1) substitute—
1
A payment to which this section applies shall not, for the purposes of corporation tax, form part of the income of—
a
any company to which it is made, or
b
any other company.
3
Omit subsection (2A).
4
In subsection (6) omit “or (2A)”.