Income Tax (Trading and Other Income) Act 2005
This section has no associated Explanatory Notes
462(1)Amend section 415 (charge to tax under Chapter 6) as follows.
(2)In subsection (1)(a) for “is or has been assessed or is liable to be assessed under section 419 of ICTA” substitute “is or was chargeable to tax under section 455 of CTA 2010”.
(3)In subsection (3)—
(a)for “section 419 of ICTA has effect under section 422 of that Act (extension of section 419 to loans by companies controlled by close companies)” substitute “, as a result of section 460 of CTA 2010, sections 455 to 459 of that Act have effect”, and
(b)for “section 419(2) of ICTA” substitute “section 455(4) of that Act”.