http://www.legislation.gov.uk/id/ukpga/2009/4/schedule/1

SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 1Income and Corporation Taxes Act 1988

1

The Income and Corporation Taxes Act 1988 (c. 1) is amended as follows.

2

1

Amend section 6 (the charge to corporation tax and exclusion of income tax and capital gains tax) as follows.

2

Omit subsections (1) to (3).

3

In subsection (4) omit the words from “, sections” to “248”.

4

Omit subsection (4A).

3

Omit section 8 (general scheme of corporation tax).

4

1

Amend section 9 (computation of income: application of income tax principles) as follows.

2

Omit subsections (1) to (4).

3

In subsection (5) omit “, by virtue of this section or otherwise,”.

4

Omit subsection (6).

5

In section 11 (companies not resident in United Kingdom) omit subsections (1) to (2A).

6

Omit section 11AA (determination of profits attributable to permanent establishment).

7

Omit section 12(1) to (7ZA) and (9) (basis of, and periods for, assessment).

8

Omit section 15 (Schedule A).

9

Omit section 18 (Schedule D).

10

Omit section 21A (computation of amount chargeable under Schedule A).

11

Omit section 21B (application of other rules applicable to Case I of Schedule D).

12

Omit section 21C (the Schedule A charge and mutual business).

13

1

Amend section 24 (construction of Part 2) as follows.

2

In subsection (1)—

F14a

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b

omit the definition of “premium”.

3

Omit subsections (2) to (4).

4

In subsection (5) omit the definitions of “intermediate landlord”, “premium” and “reversion”.

5

Omit subsection (6)(a).

14

Omit section 30 (expenditure on making sea walls).

15

Omit sections 31ZA to 31ZC (deductions for expenditure on energy-saving items).

16

Omit sections 34 to 39 (premiums, leases at undervalue etc).

17

Omit section 40 (tax treatment of receipts and outgoings on sale of land).

18

1

Amend section 42 (appeals against determinations under sections 34 to 36 of ICTAetc) as follows.

2

Omit subsection (1)(a) and the “or” immediately after it.

3

In the title omit “sections 34 to 36 or”.

19

Omit section 46 (savings certificates and tax reserve certificates).

20

Omit section 53 (farming and other commercial occupation of land (except woodlands)).

21

Omit section 55 (mines, quarries and other concerns).

22

1

Amend section 56 (transactions in deposits with and without certificates or in debts) as follows.

2

In subsection (2) for the words from “annual” to the end substitute “ an amount to which the charge to corporation tax on income applies ”.

3

In subsection (4B) for “Chapter II of Part IV of the Finance Act 1996” and “that Chapter” substitute “ Part 5 of CTA 2009 ” and “ that Part ” respectively.

23

Omit section 70 (basis of assessment etc).

24

Omit section 70A (Case V income from land outside UK).

25

Omit section 72 (apportionments etc for purposes of Cases I, II and VI).

26

Omit section 74 (general rules as to deductions not allowable).

27

Omit section 75 (expenses of management: companies with investment business).

28

Omit section 75A (accounting period to which expenses of management are referable).

29

Omit section 75B (amounts reversing expenses of management deducted: charge to tax).

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F5431

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F5432

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F5433

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F5434

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F5435

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F5436

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F5438

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F5439

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F5440

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F5441

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F5442

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F5443

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F5444

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F245

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46

Omit section 76A (levies and repayments under FISMA 2000).

47

Omit section 76B (levies and repayments under the FISMA 2000: investment companies).

48

Omit section 79 (contributions to local enterprise agencies).

49

Omit section 79A (contributions to training and enterprise councils and local enterprise companies).

50

Omit section 79B (contributions to urban regeneration companies).

51

Omit section 82A (expenditure on research and development).

52

Omit section 82B (payments to research associations, universities etc).

53

Omit section 83 (patent fees etc and expenses).

54

Omit section 83A (gifts in kind to charities etc).

55

Omit section 84 (gifts to educational establishments).

56

1

Amend section 84A (costs of establishing share option or profit sharing schemes: relief) as follows.

2

In subsection (2)—

a

in paragraph (a) omit “Schedule D or”,

b

omit paragraph (b) and the “or” immediately before it, and

c

omit paragraph (c).

3

Omit subsection (3ZA)(b).

57

Omit section 85 (payments to trustees of approved profit sharing schemes).

58

Omit section 85A (costs of establishing employee share ownership trust: relief).

59

Omit section 85B (which introduces Schedule 4AA).

60

Omit section 86 (employees seconded to charities and educational establishments).

61

Omit section 86A (charitable donations: contributions to agent's expenses).

62

Omit sections 87 and 87A (taxable premiums etc).

63

Omit section 88 (payments to Export Credits Guarantee Department).

64

Omit section 88D (restriction of deductions in respect of certain debts).

65

Omit section 89 (debts proving to be irrecoverable after discontinuance etc).

66

Omit section 90 (additional payments to redundant employees).

67

Omit section 91 (cemeteries).

68

Omit section 91A (waste disposal: restoration payments).

69

Omit sections 91B and 91BA (waste disposal: preparation expenditure).

70

Omit section 91C (mineral exploration and access).

71

Omit section 92 (regional development grants).

72

Omit section 93 (other grants under Industrial Development Act 1982 etc).

73

Omit section 94 (debts deducted and subsequently released).

74

Omit section 95 (taxation of dealers in respect of distributions etc).

75

In section 95ZA(1) (taxation of UK distributions received by insurance companies) for “section 208” substitute “ section 1285 of CTA 2009 ”.

76

Omit section 97 (treatment of farm animals etc).

77

Omit section 98 (tied premises: receipts and expenses treated as those of trade).

78

Omit section 99 (dealers in land).

79

Omit section 100 (valuation of trading stock at discontinuance of trade).

80

Omit section 101 (valuation of work in progress at discontinuance of profession or vocation).

81

Omit section 102 (provisions supplementary to sections 100 and 101).

82

Omit sections 103 to 106 (Case VI charges on receipts).

83

Omit section 110 (interpretation etc).

84

Omit section 111(1) (treatment of partnerships).

85

Omit sections 114 and 115 (special rules for computing profits and losses).

F1586

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87

Omit section 118ZA (treatment of limited liability partnerships).

88

Omit section 119 (rent etc payable in connection with mines, quarries and similar concerns).

89

Omit section 120 (rent etc payable in respect of electric line wayleaves).

90

Omit section 121 (management expenses of owner of mineral rights).

91

Omit section 122 (relief in respect of mineral royalties).

92

Omit section 125 (annual payments for dividends or non-taxable consideration).

93

Omit section 128(2) and (3) (commodity and financial futures etc: losses and gains).

94

1

Amend section 130 (meaning of “company with investment business” and “investment company” in Part 4) as follows.

2

Omit “ “company with investment business” means any company whose business consists wholly or partly in the making of investments”.

3

For the title substitute “ Meaning of “investment company” in Part 4 ”.

95

In section 187(10) (interpretation of sections 185 and 186) for “, within the meaning of section 486,” substitute “ , as defined in section 834(1) ”.

96

Omit section 208 (UK company distributions not generally chargeable to corporation tax).

F597

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F598

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F599

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F5102

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103

Omit section 337 (company beginning or ceasing to carry on trade).

104

1

Amend section 337A (computation of company's profits or income: exclusion of general deductions) as follows.

2

Omit subsection (1)(a).

3

In subsection (2)—

F16a

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b

omit paragraph (b) and the “and” immediately before it.

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F6113

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114

In section 398(b) for “Schedule D” substitute “ Part 5 of CTA 2009 (loan relationships) ”.

F17115

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F18116

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117

Omit section 401 (relief for pre-trading expenditure).

F7118

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F7119

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F7124

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125

In section 414(1)(b) (close companies) omit “within the meaning of section 486(12)”.

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F55153

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F55154

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F53155

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F52156

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157

Omit section 469(4A) to (5) and (6) (other unit trusts).

158

Omit section 472A (trading profits etc from securities: taxation of amounts taken to reserves).

159

Omit section 473 (conversion etc of securities held as circulating capital).

160

In section 475 (tax-free Treasury securities: exclusion of interest on borrowed money)—

F19a

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b

in subsection (2), omit paragraph (b) and the “and” immediately before it, and

c

in subsection (4) omit the words from “or to be brought” to the end.

161

In section 477A (building societies: loan relationships), omit subsections (3)(a) and (aa), (4) and (10).

162

Omit section 477B (incidental costs of issuing qualifying shares).

163

1

Amend section 486 (industrial and provident societies and co-operative associations) as follows.

2

In subsection (1), omit from the word “but” to the end.

3

Omit subsections (4) and (7).

4

Omit subsections (10) and (11).

5

In subsection (12) omit the definition of “registered industrial and provident society”.

164

Omit section 487 (credit unions).

165

Omit section 491 (distribution of assets of body corporate carrying on mutual business).

F8166

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F8167

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F8168

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F8169

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F8170

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F8171

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172

In section 503(1)(a) (letting of furnished holiday accommodation treated as a trade for certain corporation tax purposes)—

a

for “Schedule A business” substitute “ UK property business ”, and

b

for “trade the profits of which are chargeable to corporation tax under Case I of Schedule D,” substitute “ trade carried on wholly or partly in the United Kingdom the profits of which are chargeable to corporation tax under Part 3 of CTA 2009, ”.

173

Omit section 504 (meaning of “commercial letting of furnished holiday accommodation”).

F20174

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F21175

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176

Omit section 509 (reserves of marketing boards etc).

F22177

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F23178

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179

Omit section 524 (taxation of receipts from sale of patent rights).

180

Omit section 525 (capital sums: winding up or partnership change).

181

Omit section 526 (relief for expenses).

182

Omit section 528 (manner of making allowances and charges).

183

Omit section 531 (provisions supplementary to section 530).

184

Omit section 532 (application of Capital Allowances Act).

185

Omit section 533 (interpretation of sections 520 to 532).

186

Omit section 556 (activity treated as trade etc and attribution of income).

187

Omit section 558(5) and (6) (visiting performers: supplementary provisions).

188

In section 568(1) (deductions from profits of contributions paid under certified schemes)—

a

omit “section 74 of this Act or”,

b

after “section 33 of ITTOIA 2005” insert “ or section 53 of CTA 2009 (no deduction for capital expenditure) ”, and

c

for “under Case I of Schedule D or under Part 2 of ITTOIA 2005,” substitute “ under Part 2 of ITTOIA 2005 or Part 3 of CTA 2009, ”.

189

In section 570(4) (payments under certified schemes which are not repayments of contributions), in the words after paragraph (c), for the words from “section 337(1)” to the end substitute “ section 18 of ITTOIA 2005 or section 41 of CTA 2009 (company starting or ceasing to be within charge to corporation tax) is to be treated as effecting a cessation of trading. ”

190

1

Amend section 571 (cancellation of certificates) as follows.

2

In subsection (1) omit the words from “(in” to “Schedule D)”.

3

After subsection (1A) insert—

1B
So far as relating to corporation tax, the charge to tax under subsection (1) has effect as an application of the charge to corporation tax on income.

191

Omit section 577 (business entertaining expenses).

192

Omit section 577A (expenditure involving crime).

193

Omit section 578 (housing grants).

194

Omit sections 578A and 578B (expenditure on car hire).

195

Omit sections 579 and 580 (statutory redundancy payments).

196

Omit section 582 (funding bonds issued in respect of interest on certain debts).

197

Omit section 584 (relief for unremittable overseas income).

198

Omit sections 586 and 587 (disallowance of deductions for war risk premiums and of certain payments in respect of war injuries to employees).

199

In section 587B(2)(b) (gifts of shares, securities and real property to charities etc) for “section 83A,” substitute “ section 105 of CTA 2009 (gifts of trading stock to charities etc), ”.

200

Omit section 588 (training courses for employees).

201

Omit section 589A (counselling services for employees).

202

Omit section 589B(5) (interpretation of section 589A).

203

Omit section 617 (social security benefits and contributions).

204

Omit section 695 (limited interests in residue).

205

Omit section 696 (absolute interests in residue).

206

Omit section 697 (supplementary provisions as to absolute interests in residue).

207

Omit section 698 (special provisions as to certain interests in residue).

208

Omit section 699A (untaxed sums comprised in the income of the estate).

209

In section 700 (adjustments and information)—

a

omit subsections (1) to (3),

b

in subsection (4) omit “this Part or”,

F24c

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F25d

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210

Omit section 701 (interpretation).

211

Omit section 702 (application to Scotland).

212

In section 703(3) (cancellation of corporation tax advantage) omit the words from “(the amount” to “accordingly)”.

F26213

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F3214

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F50215

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216

In section 736C(9) (deemed interest: cash collateral under stock lending arrangements)—

a

in paragraph (a) for “Chapter 2 of Part 4 of the Finance Act 1996” substitute “ Part 5 of CTA 2009 ”, and

b

in paragraph (b) for “section 100” to “lending of money)” substitute “ Chapter 2 of Part 6 of that Act applies (relevant non-lending relationships) ”.

217

In section 747(1B) (controlled foreign companies: company residence for purposes of Chapter), for “section 249 of the Finance Act 1994” substitute “ section 18 of CTA 2009 ”.

218

In section 751(3) (controlled foreign companies: accounting periods) for “subsections (3), (5) and (7) of section 12” substitute “ sections 10(1) and (5), 11(1) and (2) and 12 of CTA 2009 ”.

219

1

Amend section 755A (treatment of chargeable profits and creditable tax apportioned to company carrying on life assurance business) as follows.

2

In subsection (5) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 (charge on trade profits) ”.

3

In subsection (7) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 ”.

4

In subsection (11BA)—

a

for “Case I profits”, in both places where it occurs, substitute “ section 35 profits ”, and

b

for “provisions applicable to Case I of Schedule D” substitute “ life assurance trade profits provisions ”.

220

1

Amend section 761 (charge to income tax or corporation tax of offshore income gain) as follows.

2

In subsection (1)(b)(ii) for “as a profit or gain under Case VI of Schedule D” substitute “ , under the charge to corporation tax on income, ”.

3

In subsection (2) for “section 11(2A)(c)” substitute “ section 19(3)(c) of CTA 2009 ”.

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F9222

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F10227

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F10228

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F10229

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F4230

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F27231

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232

1

Amend section 779 (sale and lease-back: limitation on tax reliefs) as follows.

F282

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3

In subsection (13)—

a

omit paragraph (a),

F29b

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c

in paragraph (d) leave out “75 or”, and

F30d

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F31233

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234

1

Amend section 781 (assets leased to traders and others) as follows.

2

In subsection (1) omit the words from “(in” to “Schedule D)”.

F323

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4

In subsection (4)—

F33a

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b

in paragraph (c) leave out “75 or”, and

F34c

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235

In section 782(9) (leased assets: special cases) omit the words from “, and where” to the end.

F35236

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237

In section 785ZA(3) (restrictions on use of losses: leasing partnerships) for “section 114(2)” substitute “ sections 1262 to 1264 of CTA 2009 ”.

238

In section 785ZB(8) (section 785ZA: definitions)—

a

in paragraph (a) for “(Schedule A losses)” substitute “ (UK property business losses) ”, and

b

in paragraph (d) for “(Case VI losses)” substitute “ (losses from miscellaneous transactions) ”.

239

In section 785C(4)(a) (section 785B: interpretation) for “under Schedule A” substitute “ under Chapter 3 of Part 4 of CTA 2009 as profits of a UK property business ”.

240

In section 785D(3) (section 785B: lease of plant and machinery and other property) for “under Schedule A” substitute “ under Chapter 3 of Part 4 of CTA 2009 as profits of a UK property business ”.

F36241

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242

1

Amend section 787 (restriction of relief for payments of interest) as follows.

F372

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3

Omit subsection (1A).

4

In subsection (2) omit “or total profits”.

5

Omit subsection (3).

243

In section 788(7) (relief by agreement with other territories) omit the words from “, and, in” to the end.

244

In section 790(11) (unilateral relief) omit the words from “, and, in” to the end.

F38245

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F39246

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247

1

Amend section 797A (foreign tax on items giving rise to a non-trading credit: loan relationships) as follows.

F402

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3

In subsection (2)—

F41a

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b

omit “and gains”.

F424

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F425

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F426

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F427

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F428

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F11248

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F11249

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F11250

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F11251

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F1252

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F1253

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F1254

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F12255

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F12256

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F12257

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F12258

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F12259

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F12260

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F12261

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F12262

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F12263

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F12264

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265

Omit section 817 (deductions not to be allowed in computing profits or gains).

266

In section 821(1)(a) (under-deductions from payments made before passing of annual Act) omit “under under Case III of Schedule D”.

267

1

Amend section 826 (interest on tax overpaid) as follows.

2

In subsection (1)—

a

in paragraph (d) for “Schedule 20 to the Finance Act 2000” substitute “ Chapter 2 or 7 of Part 13 of CTA 2009 ”,

b

omit paragraph (da), and

c

in paragraph (e) for “Schedule 22 to the Finance Act 2001” substitute “ Part 14 of CTA 2009 ”.

3

Omit subsection (3AA).

4

Omit subsections (5) and (5A).

5

In subsection (7C)—

a

in paragraph (b) for “section 83(2)(c) of the Finance Act 1996 or paragraph 4(3) of Schedule 11 to that Act” substitute “ section 389(1) or 459(1)(b) of CTA 2009 ”, and

b

in the words following paragraph (c) for “section 83(2)(c) of that Act or, as the case may be, paragraph 4(3) of Schedule 11 to that Act” substitute “ section 389(1) or 459(1)(b) of CTA 2009 ”.

6

In subsection (8A)—

a

in paragraph (a) for “(d), (da)” substitute “ , (d) ”, and

b

in paragraph (b)(ii), omit “, tax credit under Schedule 13 to the Finance Act 2002”.

7

In subsection (8BA), omit (in both places) “, tax credit under Schedule 13 to the Finance Act 2002”.

268

Omit section 827 (VAT penalties etc).

269

1

Amend section 828 (orders and regulations made by the Treasury or the Board) as follows.

2

In subsection (4) omit “79B(5),”.

3

In subsection (5)—

a

for “or section 717 of ITEPA 2003” substitute “ , section 717 of ITEPA 2003 or section 1310 of CTA 2009 ”,

b

in paragraph (a) for “or ITEPA 2003” substitute “ , ITEPA 2003 or CTA 2009 ”, and

c

in paragraph (b) for “either” substitute “ any ”.

270

Omit section 830(2) to (4) (territorial sea and designated areas).

271

In section 831(3) (interpretation of ICTA) before the definition of “ITEPA 2003” insert—

“CTA 2009” means the Corporation Tax Act 2009;

F13272

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F13273

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F13274

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F13275

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F13276

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F13277

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278

Omit Schedule A1 (determination of profits attributable to permanent establishment: supplementary provisions).

279

Omit Schedule 4AA (share incentive plans: corporation tax deductions).

280

Omit Schedule 5 (treatment of farm animals etc for purposes of Case I of Schedule D).

281

In paragraph 13(3) of Schedule 18A (group relief: overseas losses of non-resident companies) for “Schedule A purposes” substitute “ the purpose of calculating the profits of a UK property business under Part 4 of CTA 2009 ”.

F51282

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283

In paragraph 6(6)(b) of Schedule 19B (petroleum extraction activities: exploration expenditure supplement), at the end insert “ or starts to be within the charge to corporation tax in respect of such a ring fence trade. ”

F43284

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F44285

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286

1

Amend Schedule 24 (assumptions for calculating chargeable profits, creditable tax and corresponding United Kingdom tax of foreign companies) as follows.

2

In paragraph 1(3) (general) for “section 154(2) of the Finance Act 1996” substitute “ section 1279 of CTA 2009 ”.

3

In paragraph 12 (unremittable overseas income)—

a

for “section 584” substitute “ Part 18 of CTA 2009 ”,

b

for “paragraph (a) or paragraph (b) of subsection (1) of that section” substitute “ section 1274(3) or (4) of that Act ”, and

c

for the words from “a notice” to “given” substitute “ a claim under section 1275 of that Act (claim for relief for unremittable income) may be made ”.

287

1

Amend Schedule 25 (cases where section 747(3) does not apply) as follows.

2

In paragraph 2(1A)—

a

for paragraph (a) substitute—

a
it is chargeable neither under Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom nor under section 436A (gross roll-up business: separate charge on profits);

b

in paragraph (b) for the words from “Case I” to “above” substitute “ Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom, or under section 436A ”.

3

In paragraph 2(1B)(a) for “section 208” substitute “ section 1285 of CTA 2009 ”.

4

In paragraph 4(1A)—

a

for paragraph (a) substitute—

a
it is chargeable neither under Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom nor under section 436A (gross roll-up business: separate charge on profits);

b

5

In paragraph 12(6) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 ”.

288

In Schedule 26 (reliefs against liability for tax in respect of chargeable profits) in paragraph 1(3)(c) for “section 75(1)” substitute “ section 1219(1) of CTA 2009 ”.

289

1

Amend Schedule 27 (distributing funds) as follows.

2

In paragraph 1(1)(d)(ii)—

a

omit the words from “in accordance” to “(Schedule D)”,

b

for “Case III of Schedule D” substitute “ Part 5 of CTA 2009 (loan relationships) or Chapter 7 of Part 10 of that Act (annual payments not otherwise charged) ”, and

c

for “Case V of Schedule D” substitute “ Chapter 2 of Part 10 of CTA 2009 (dividends of non-UK resident companies) or Chapter 8 of that Part (income not otherwise charged) ”.

3

For the heading for paragraph 3 substitute “ Certain foreign income ”.

4

In paragraph 3(1)(aa)—

a

in sub-paragraph (i) for “Case III of Schedule D” substitute “ Part 5 of CTA 2009 (loan relationships) or Chapter 7 of Part 10 of that Act (annual payments not otherwise charged) ”, and

b

in sub-paragraph (ii) for “Case V of Schedule D” substitute “ Chapter 2 of Part 10 of CTA 2009 (dividends of non-UK resident companies) or Chapter 8 of that Part (income not otherwise charged) ”.