Income Tax Act 2007 (c. 3)

SCHEDULES

SCHEDULE 1 U.K. Minor and consequential amendments

Part 2 U.K. Other enactments

Finance Act 2006 (c. 25) U.K.

610 U.K. The Finance Act 2006 is amended as follows.

611 U.K. In section 34 (meaning of certain expressions for the purposes of Chapter 3 of Part 3) for subsection (4) substitute—

“(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 U.K. 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 U.K. 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 U.K. 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 U.K. Omit section 75 (tax avoidance: interest relief and film partnerships).

616 U.K. 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 ”.

F1 617 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 1 para. 617 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(17)

618 U.K. In section 117(4) (cancellation of tax advantage) for “section 709” substitute “ section 840ZA ”.

619 U.K. 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 U.K. Omit section 122 (distributions: deduction of tax).

621 (1) Amend section 139 (manufactured dividends) as follows. U.K.

(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 U.K. In section 179 (interpretation) after the definition of “IHTA 1984” insert—

““ITA 2007” means the Income Tax Act 2007;”.

623 U.K. 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 U.K. 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 U.K. In Schedule 13 (settlements) omit paragraph 37.

626 (1) Amend Schedule 17 (Group Real Estate Investment Trusts: modifications) as follows. U.K.

(2) Omit paragraph 19.

(3) Omit paragraph 30(b) and the “and” immediately before it.

(4) Omit paragraph 32(8)(c).