SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Finance Act 2006 (c. 25)
689
(1)
Amend section 121 (distributions: liability to tax) as follows.
(2)
In subsection (1)(a) for “Schedule A business” substitute “
UK property business (within the meaning of section 205 of CTA 2009)
”
.
(3)
In subsection (2)(a) for “Schedule A business” substitute “
UK property business (within the meaning of section 205 of CTA 2009)
”
.
(4)
In subsection (3)(a) for the words from “dealer” to the end substitute “
person who is charged to tax under Part 3 of CTA 2009 (trading income) in respect of distributions made by companies that are received in the course of a trade not consisting of insurance business,
”
.
(5)
Omit subsection (4).
(6)
In subsection (6)—
(a)
in paragraph (a) for “Schedule A business” substitute “
UK property business (within the meaning of section 205 of CTA 2009)
”
, and
(b)
in paragraph (c) for “section 70A(4) of ICTA” substitute “
section 206 of CTA 2009
”
.