SCHEDULES

SCHEDULE 7Import duty: consequential amendments

PART 3Amendments of other enactments

Income Tax (Trading and Other Income) Act 2005

153

The Income Tax (Trading and Other Income) Act 2005 is amended as follows.

Annotations:
Commencement Information

I1Sch. 7 para. 153 in force for specified purposes at 13.9.2018, see s. 57(1)(a)

I2Sch. 7 para. 153 in force at 31.12.2020 in so far as not already in force by S.I. 2020/1642, reg. 4(a)

154

In section 54 (trading income: penalties, interest and VAT surcharges), in subsection (2), in the entry relating to a penalty under section 25 or 26 of the Finance Act 2003, for “Customs, export and import duties” substitute “ Customs duties ”.

Annotations:
Commencement Information

I3Sch. 7 para. 154 in force for specified purposes at 13.9.2018, see s. 57(1)(a)

I4Sch. 7 para. 154 in force at 31.12.2020 in so far as not already in force by S.I. 2020/1642, reg. 4(a)

155

In section 869 (general calculation rules, etc: penalties, interest and VAT surcharges), in subsection (4), in the entry relating to a penalty under section 25 or 26 of the Finance Act 2003, for “Customs, export and import duties” substitute “ Customs duties ”.