SCHEDULES

SCHEDULE 10Transfer of assets abroad

PART 3Amendments relating to the charges under sections 720 and 727

Main provision

17

1

Section 744 (meaning of taking income into account in charging income tax for section 743) is amended as follows.

2

In subsection (1) for “743(1) and (2)” substitute “ 743 ”.

3

In subsection (2)—

a

in paragraph (a) omit “or value of the benefit”, and

b

in paragraph (b) for “income charged” substitute “ the income mentioned in section 721(2) ”.

4

In subsection (3) for “that income” substitute “ the income mentioned in section 728(1)(a) ”.