SCHEDULES

SCHEDULE 10U.K.Transfer of assets abroad

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

Main provisionU.K.

17(1)Section 744 (meaning of taking income into account in charging income tax for section 743) is amended as follows.U.K.

(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) ”.