SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Income Tax Act 2007 (c. 3)

707

In section 899(4)(b) (meaning of “qualifying annual payment”) for “charged to corporation tax under Case III of Schedule D” substitute

which is—

i

required to be brought into account under Part 5 of CTA 2009 (loan relationships) as a non-trading credit, or

ii

from a source in the United Kingdom and chargeable to corporation tax under Chapter 5 of Part 10 of that Act (distribution from unauthorised unit trusts) or Chapter 7 of that Part (annual payments not otherwise charged).