Schedules
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Income Tax (Trading and Other Income) Act 2005
466
1
Amend section 456 (securities issued to connected persons etc at excessive price) as follows.
2
For subsection (7) substitute—
7
Chapter 2 of Part 10 of CTA 2010 (meaning of “close company”) applies for the purposes of this section but with the omission of section 442(a) (exclusion of non-UK resident companies).
3
In subsection (8) for “section 416 of ICTA” substitute “
sections 450 and 451 of CTA 2010
”
.