SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Finance Act 1988 (c. 39)

274

The Finance Act 1988 is amended as follows.

275

1

Amend section 130 (provisions for securing payment by company of outstanding tax) as follows.

2

In subsection (7)—

a

in paragraph (a), for “203 of the Taxes Act 1988” substitute “ 684 of the Income Tax (Earnings and Pensions) Act 2003 ”,

b

in paragraph (b), for “to which section 350(4)(a) of that Act (company payments which are not distributions) applies” substitute “ within section 946 of the Income Tax Act 2007 (collection of tax: deposit-takers, building societies and certain companies) ”, and

c

in paragraph (c)—

i

omit sub-paragraphs (i) and (ii) and the “or” immediately before sub-paragraph (iii), and

ii

in sub-paragraph (iii) for “555 of that Act” substitute “ 966 of the Income Tax Act 2007 ”.

3

After subsection (9) insert—

9A

In this section any reference to a provision of the Income Tax (Earnings and Pensions) Act 2003 or the Income Tax Act 2007 shall be construed, in relation to any time at which a corresponding provision of the Taxes Act 1988 or an enactment repealed by that Act had effect, as a reference to that corresponding provision.

276

In Schedule 6 (commercial woodlands) omit paragraph 3(3) to (5).

277

In paragraph 6(1)(b) of Schedule 12 (building societies: change of status) for the words from “section 477A” to the end substitute “ Chapter 2 of Part 15 of the Income Tax Act 2007 (deduction of income tax at source: deposit-takers and building societies) ”.