SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
75
1
Amend section 398 (transactions in deposits with and without certificates or in debts) as follows.
2
For “a person” substitute “
a company
”
.
3
Omit “above or Chapter 11 of Part 4 of ITTOIA 2005 (transactions in deposits)”.
4
In paragraph (a)—
a
after “chargeable to” insert “
corporation
”
, and
b
omit “above or that Chapter”.
5
In paragraph (b) for the words from “he is chargeable” to “that Act” substitute “
the company is chargeable to corporation tax under Schedule D
”
.
6
For the words from “the amount of his loss may be set off in pursuance” to the end substitute “
the amount of its loss may be set off under section 396.
”