Schedules

SCHEDULE 1 U.K.Minor and consequential amendments

Part 2 U.K.Other enactments

Income Tax Act 2007 U.K.

561 (1) Amend section 974 (regulations under section 973) as follows. U.K.

(2) In subsection (1)(j)(ii) for “tax-exempt business” substitute “ property rental business ”.

(3) In subsection (2)—

(a) for “tax-exempt business” substitute “ property rental business ”, and

(b) for “Part 4 of FA 2006 has ceased to apply to a company” substitute “ the company or group (as the case may be) has ceased to be a UK REIT ”.

(4) In subsection (3) for “section 107(9)(b) of FA 2006” substitute “ section 530(6) of CTA 2010 ”.

(5) For subsection (6) substitute—

“(6) In this section—

• property rental business” has the same meaning as in Part 12 of CTA 2010 (see section 519 of that Act), and

• “UK REIT” has the same meaning as in Part 12 of CTA 2010 (see section 518(4) of that Act).”