Schedules

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Corporation Tax Act 2009 (c. 4)

691

(1)

Amend section 1262 (allocation of firm's profits or losses between partners) as follows.

(2)

In subsection (2)—

(a)

for “pays charges on income” substitute “ makes qualifying charitable donations ”,

(b)

for “share of the charges” substitute “ share of the donations ”, and

(c)

for “charges are paid” substitute “ donations are made ”.

(3)

Omit subsection (3).