SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
76
(1)
Amend section 399 (dealings in commodity futures etc: withdrawal of loss relief) as follows.
(2)
In subsection (2)—
(a)
for “any person under section 380, 381 or” substitute “any company under section”,
(b)
in paragraph (a) omit “and that person or one or more of the other partners was a company”,
(c)
in paragraph (b) for “that person from his” substitute “that company from its”, and
(d)
for “tax liability” substitute “corporation tax liability”.
(3)
In subsection (3) for the words after “assessment” substitute “to corporation tax under Case VI of Schedule D.”