SCHEDULES

SCHEDULE 3Trading and property allowances

PART 2Consequential amendments

TIOPA 2010

12

In TIOPA 2010—

a

in section 22(8) (credit for foreign tax on overlap profit if credit for that tax already allowed), in the definition of “overlap profit”, for “section 204” substitute “ sections 204 and 204A ”, and

b

in section 24(8) (claw-back of relief under section 22(2)), in the definition of “overlap profit”, for “section 204” substitute “ sections 204 and 204A ”.