Finance Act 2022 (c. 3)

SCHEDULES

SCHEDULE 1 U.K. Abolition of basis periods

PART 3 U.K. Amendments of other Acts

Income Tax Act 2007 U.K.

44 In section 74 (restrictions on relief unless trade is commercial etc), in subsection (2)—

(a) in the words before paragraph (a), omit “the basis period for”;

(b) in paragraph (b), for “basis period” substitute “tax year”.