SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
94
1
Amend section 505 (charities: general) as follows.
2
In subsection (1)—
a
in paragraph (a) omit “, or under Parts 2 and 3 of ITTOIA 2005,”,
b
in paragraph (c)—
i
in sub-paragraph (ii) omit the words from “or under Chapter 2, 7, 8 or 10” to the end of the sub-paragraph,
ii
omit sub-paragraphs (iiaa) and (iii), and
iii
for “charity” substitute “charitable company”,
c
in paragraph (d) omit “or Chapter 2 of Part 4 of ITTOIA 2005 (interest)”,
d
in paragraph (e)—
i
omit “or Part 2 of ITTOIA 2005 (trading income)”, and
ii
for “charity”, in each place where it occurs, substitute “charitable company”, and
e
in paragraph (f)—
i
omit “or Part 2 or 5 of ITTOIA 2005 (trading and miscellaneous income)”,
ii
for “charity” substitute “charitable company”, and
iii
in sub-paragraph (ii) for “charity's” substitute “charitable company's”.
3
In subsection (1AA) for “(1)(c)(iiaa) and (iib)” substitute “(1)(c)(iib)”.
4
In subsection (1B) for “charity” substitute “charitable company”.
5
In subsection (2)—
a
in paragraph (a), for “a charity” substitute “a charitable company”,
b
in paragraph (c) for “tax” substitute “corporation tax”, and
c
omit the words from “chargeable to income tax” to “and shall be”.
6
In subsection (4)—
a
for “charity” substitute “charitable company”, and
b
for “a chargeable” substitute “an accounting”.
7
In subsection (5)—
a
for “a chargeable” substitute “an accounting”, and
b
for “charity's” substitute “charitable company's”.
8
In subsection (6) for “a chargeable” in both places where it occurs substitute “an accounting”.
9
In subsection (7)—
a
for “charity's” substitute “charitable company's”, and
b
for “charity” in each place where it occurs substitute “charitable company”.
10
In the sidenote for “Charities” substitute “Charitable companies”.