Amendment of Chapter 1 of Part 12 of the Income and Corporation Taxes Act 1988
This section has no associated Explanatory Memorandum
5.—(1) Amend section 444AC(1) (transfers of business: modification of section 83(2) of the Finance Act 1989) as follows.
(2) In subsections (2) and (3)—
(a)for “line 15 figure” substitute “line 31 figure”; and
(b)for “as other income” substitute “as a business transfer-in”.
(3) In subsection (2) for “83(2)(d)” substitute “83(2)(e)”.
(1)
This section and section 444AD were inserted by paragraph 20(1) of Schedule 33 to the Finance Act 2003.