Finance Act 2000 (c. 17)
463(1)Amend section 46 (exemption for small trades etc) as follows.
(2)For subsection (1)(b) substitute—
“(b)from corporation tax chargeable—
(i)under Part 3 of the Corporation Tax Act 2009 in respect of a trade carried on wholly or partly in the United Kingdom, or
(ii)under or by virtue of any provision to which section 834A of the Taxes Act 1988 (miscellaneous charges) applies,”.
(3)In subsection (2)(b) for “under Case VI of Schedule D” substitute “under or by virtue of any provision to which section 834A of the Taxes Act 1988 applies”.
(4)In subsection (2A)—
(a)for the words from “, 703” to “790” substitute “or 776”, and
(b)omit paragraph (b).
(5)In subsection (6), in the definition of “income”, for paragraph (b) substitute—
“(b)any profits or gains or other income—
(i)which is chargeable to corporation tax under Part 3 of the Corporation Tax Act 2009 in respect of a trade carried on wholly or partly in the United Kingdom, or
(ii)which is chargeable to corporation tax under or by virtue of any provision to which section 834A of the Taxes Act 1988 applies,
and which (in either case) is not, apart from this section, exempted from corporation tax chargeable under or by virtue of that Part or provision.”