SCHEDULES
SCHEDULE 1Abolition of basis periods
PART 2Other amendments of ITTOIA 2005
16Part 2 (trading income)
In section 240C (unrelieved qualifying expenditure: Parts 2, 7 and 8 of CAA 2001), in subsection (1)(b)—
a
omit “the basis period for”;
b
for “with that basis period” substitute “in that tax year”
.