SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Finance Act 2006 (c. 25)
610
The Finance Act 2006 is amended as follows.
611
“(4)
For the purposes of subsection (3) whether a person is connected with another person is determined in accordance with section 839 of ICTA (connected persons).”
612
In section 65(3)
(London Organising Committee) for “Section 349(1) of ICTA (annual payments: deductions of tax)” substitute “
The duties to deduct under Chapters 6, 7, 10 and 14 of Part 15 of ITA 2007 (deduction of income tax at source)
”
.
613
In section 67 (International Olympic Committee)—
(a)
in subsection (1)(c), for “section 349(1) and (2) of ICTA (annual payments: deductions of tax)” substitute “
the duties to deduct under Chapters 3, 6, 7, 10 and 14 of Part 15 of ITA 2007 (deduction of income tax at source)
”
, and
(b)
in subsection (2)(c), for “section 349(1) and (2) of ICTA” substitute “
the duties to deduct under Chapters 3, 6, 7, 10 and 14 of Part 15 of ITA 2007 (deduction of income tax at source)
”
.
614
In section 68(1)(d)
(competitors and staff) for “section 349(1) of ICTA (annual payments: deductions of tax)” substitute “
the duties to deduct under Chapters 6, 7, 10 and 14 of Part 15 of ITA 2007 (deduction of income tax at source)
”
.
615
Omit section 75 (tax avoidance: interest relief and film partnerships).
616
In section 103(1)(b)
(Real Estate Investment Trusts) for “, 121 and 122” substitute “
and 121 and regulations made under section 973 of ITA 2007
”
.
617
In section 107 (conditions for tax-exempt business)—
(a)
in subsection (7)(a) omit “(within the meaning given by section 839 of ICTA)”, and
(b)
“(7A)
For the purposes of subsection (7)(a) whether a person is connected with another person is determined in accordance with section 839 of ICTA (connected persons).”
618
In section 117(4)
(cancellation of tax advantage) for “section 709” substitute “
section 840ZA
”
.
619
In section 121(2)(c)
(distributions: liability to tax) for “chargeable to tax by virtue of section 42A of ICTA (non-resident landlords)” substitute “
non-resident landlord income for the purposes of regulations under section 971 of ITA 2007 (income tax due in respect of income of non-resident landlords)
”
.
620
Omit section 122 (distributions: deduction of tax).
621
(1)
Amend section 139 (manufactured dividends) as follows.
(2)
In subsection (1) after “manufactured dividend” insert “
for the purposes of the Corporation Tax Acts
”
.
(3)
In subsection (2)—
(a)
in the new paragraph 2(2) of Schedule 23A to ICTA for “(2A) to (2C)” substitute “
(2A) and (2B)
”
,
(b)
in the new paragraph 2(2A) of that Schedule insert “
Corporation
”
before “Tax Acts”,
(c)
in the new paragraph 2(2B) of that Schedule omit paragraph (d),
(d)
omit the new sub-paragraphs (2C) to (2E) of paragraph 2 of that Schedule.
(4)
Omit subsections (3) and (4).
622
““ITA 2007” means the Income Tax Act 2007;”.
623
In Schedule 5 (film tax relief: further provisions) in paragraph 9(4)(b) for “555 of ICTA (foreign entertainers)” substitute “
966 of ITA 2007 (visiting performers)
”
.
624
In paragraph 27(1) of Schedule 8 (long funding leases of plant and machinery) for “section 840 of ICTA” in both places where it occurs substitute “
section 574 of CAA 2001
”
.
625
In Schedule 13 (settlements) omit paragraph 37.
626
(1)
Amend Schedule 17 (Group Real Estate Investment Trusts: modifications) as follows.
(2)
Omit paragraph 19.
(3)
Omit paragraph 30(b) and the “and” immediately before it.
(4)
Omit paragraph 32(8)(c).