Amendments of the Tax Credits (Definition and Calculation of Income) Regulations 2002

7.—(1) Regulation 12(1) (foreign income) shall be amended as follows.

(2) In paragraph (4)—

(a) for “of section 379A of the Taxes Act apply by virtue of section 379B of that Act” substitute “contained in sections 118 (carry forward against subsequent property business profits) and 119 (how relief works) of ITA apply”;

(b) for “section 379A(1)” substitute “those sections”.

(1)

Regulation 12 was amended by S.I. 2003/732, 2003/2815 and 2006/766.