SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
290
1
Amend Schedule 28A (change in ownership of company with investment business deductions) as follows.
2
In paragraph 6 (amounts in issue for purposes of section 768B)—
a
in sub-paragraph (a)—
i
for “within the meaning of section 75” substitute “
within the meaning of Chapter 2 of Part 16 of CTA 2009
”
, and
ii
for “under section 75” substitute “
under section 1219 of CTA 2009 (expenses of management of a company's investment business)
”
,
b
in sub-paragraph (c) for “section 75(9)” substitute “
section 1223 of CTA 2009 (expenses of management carried forward)
”
,
c
in sub-paragraph (d) for “section 75(7)” substitute “
section 1233 of CTA 2009 (excess capital allowances)
”
,
d
in sub-paragraph (da) for “Case III profits and gains” substitute “
non-trading profits
”
,
e
in sub-paragraph (db) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
,
f
in sub-paragraph (dc) for “section 83(3A) of the Finance Act 1996” substitute “
section 457(1) of CTA 2009
”
,
g
omit sub-paragraph (dd),
h
in sub-paragraph (de) for “paragraph 34 of Schedule 29 to the Finance Act 2002” substitute “
section 751 of CTA 2009
”
, and
i
in sub-paragraph (df) for “paragraph 35(3) of that Schedule” substitute “
section 753(3) of CTA 2009
”
.
3
In paragraph 6A—
a
for “Case III profits and gains” substitute “
non-trading profits
”
,
b
for sub-paragraph (a) substitute—
a
the amount of the profits arising from the company's loan relationships chargeable under section 299 of CTA 2009 (charge to tax on non-trading profits),
c
in the words following sub-paragraph (b) for “to (dd)” substitute “
or (dc)
”
.
4
In paragraph 7(1)—
a
in sub-paragraph (d)(ii) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
,
b
in sub-paragraph (d)(iii) for “paragraph 2(2) of Schedule 9 to” substitute “
section 373 of
”
,
c
in sub-paragraph (d)(iv) for “paragraph 17 or 18 of that Schedule” substitute “
sections 406 to 412 of that Act
”
, and
d
in sub-paragraph (e)(ii) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
.
5
In paragraph 9—
a
in sub-paragraph (1) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
, and
b
in sub-paragraph (2)(b) for “that Chapter” substitute “
that Part
”
.
6
In paragraph 10—
a
in sub-paragraph (1) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
, and
b
in sub-paragraph (3)(b) for “paragraph 1(2) of Schedule 8 to the Finance Act 1996” substitute “
section 461 of CTA 2009
”
.
7
In paragraph 11—
a
in sub-paragraph (1)(a) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
,
b
in sub-paragraph (1)(b)(i) for “paragraph 17 or 18 of Schedule 9 to” substitute “
sections 406 to 412 of
”
,
c
in sub-paragraph (1)(b)(ii) for “sub-paragraph (2) of paragraph 2 of that Schedule” substitute “
section 373(1) of that Act
”
,
d
in sub-paragraph (1)(c) for “paragraphs 2(2), 17 and 18 of that Schedule” substitute “
sections 373 and 406 to 412 of that Act
”
,
e
omit sub-paragraph (2),
f
in sub-paragraph (3)(a) omit “or (2)”, and
g
in sub-paragraph (3)(c) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
.
8
In paragraph 12 for “Chapter II of Part IV of the Finance Act 1996” and “that Chapter” substitute “
Part 5 of CTA 2009
”
and “
that Part
”
respectively.
9
In paragraph 13—
a
in sub-paragraph (1)(ea) for “Case III profits and gains” substitute “
non-trading profits
”
,
b
in sub-paragraph (1)(eb) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
,
c
in sub-paragraph (1)(ec) for “section 83(3A) of the Finance Act 1996” substitute “
section 457(1) of CTA 2009
”
,
d
omit sub-paragraph (1)(ed),
e
in sub-paragraph (ee) for “paragraph 34 of Schedule 29 to the Finance Act 2002” substitute “
section 751 of CTA 2009
”
, and
f
in sub-paragraph (ef) for “paragraph 35(3) of that Schedule” substitute “
section 753(3) of CTA 2009
”
.
10
In paragraph 16—
a
in sub-paragraph (1)(d)(ii) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
,
b
in sub-paragraph (1)(d)(iii) for “paragraph 2(2) of Schedule 9 to” substitute “
section 373(1) of
”
,
c
in sub-paragraph (1)(d)(iv) for “paragraph 17 or 18 of that Schedule” substitute “
sections 406 to 412 of that Act
”
,
d
in sub-paragraph (1)(e)(ii) for “Chapter II of Part IV of the Finance Act 1996” substitute “
Part 5 of CTA 2009
”
, and
e
omit sub-paragraph (1)(f).