SCHEDULES
SCHEDULE 1Abolition of basis periods
PART 2Other amendments of ITTOIA 2005
13Part 2 (trading income)
1
Section 154A (certain non-UK residents with interest on 3.5% War Loan 1952 Or After) is amended as follows.
2
In subsection (3)—
a
in Step 1, omit “the basis period for”;
b
in each of Steps 3, 4 and 5, for “basis period” substitute “tax year”
.
3
In subsection (4)—
a
for “basis period”, in each place those words occur, substitute “tax year”
;
b
for “that period” substitute “that tax year”
.
4
In subsection (5), for “basis period” substitute “tax year”
.