(1)Where in accordance with a scheme approved [F1for the purposes of section 714 of the Income Tax (Earnings and Pensions) Act 2003] (donations to charity: payroll deduction scheme) an agent is to pay to a charity any sum which—
(a)is withheld by [F2a person] from a payment which an [F3individual] is entitled to receive; and
(b)is paid by the [F4person] to the agent,
the agent shall, within a period prescribed by regulations made by the Treasury, pay a supplement equal to 10% of that sum to the charity.
(2)On a claim made by an agent in such form as the Board may prescribe, the Board shall pay to the agent out of money provided by Parliament—
(a)such amounts as are required—
(i)to fund the payment of supplements falling to be paid by him; or
(ii)to reimburse him for supplements paid by him the payment of which has not been so funded; and
(b)in the case of an agent which is a charity, an amount which is equal to 10% of the aggregate of sums which—
(i)are withheld and paid as mentioned in paragraphs (a) and (b) of subsection (1) above; and
(ii)are sums to which the agent is itself entitled in its capacity as a charity.
(3)The Treasury may by regulations make provision—
(a)requiring agents to notify the Board of any failures of theirs to comply with subsection (1) above, and of the reasons for those failures;
(b)requiring agents to keep records of supplements paid by them under that subsection; and
(c)for the assessment and recovery under the Taxes Acts of amounts paid to agents under subsection (2) above which ought not to have been so paid.
The regulations may contain such supplementary and incidental provision as appears to the Treasury necessary or expedient.
(4)In this section—
[F5“agent” means an agent approved for the purposes of section 714 of the Income Tax (Earnings and Pensions) Act 2003;]
“charity” has the same meaning as in section 506 of [F6the Taxes Act 1988] and includes each of the bodies mentioned in section 507 of that Act;
“the Taxes Acts” has the same meaning as in the M1Taxes Management Act 1970.
F7(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)Subsections (1) to (4) above shall have effect in relation to supplements or other amounts payable in respect of sums withheld on or after 6th April 2000 and before [F86th April 2004]; and no claim under subsection (2) above shall be entertained if made on or after [F96th April 2005].
F7(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 38(1) substituted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 243(2)(a) (with Sch. 7)
F2Words in s. 38(1)(a) substituted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 243(2)(b) (with Sch. 7)
F3Word in s. 38(1)(a) substituted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 243(2)(c) (with Sch. 7)
F4Word in s. 38(1)(b) substituted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 243(2)(d) (with Sch. 7)
F5Words in s. 38(4) substituted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 243(3) (with Sch. 7)
F6Words in s. 38(4) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 390 (with Sch. 2)
F7S. 38(5)(7) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)
F8Words in s. 38(6) substituted (10.7.2003) by Finance Act 2003 (c. 14), s. 146(a)
F9Words in s. 38(6) substituted (10.7.2003) by Finance Act 2003 (c. 14), s. 146(b)
Marginal Citations
F10(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F10(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F10(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F10(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F10(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F10(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)In subsection (12), paragraphs (b) and (e) and the word “and" immediately preceding paragraph (e) shall cease to have effect.
F11(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F11(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(10)This section has effect in relation to—
(a)gifts made on or after 6th April 2000 which are not covenanted payments; and
(b)covenanted payments falling to be made on or after that date;
and any regulations made under subsection (3) of section 25 of the M2Finance Act 1990 (as substituted by subsection (4) above) within three months of the passing of this Act may be so made as to apply to any payments in relation to which this section has effect.
Textual Amendments
F10S. 39(1)-(6) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
F11S. 39(8)(9) omitted (with effect in accordance with Sch. 1 para. 7 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 1 para. 6(k)
Marginal Citations
(1)Section 339 of the Taxes Act 1988 (charges on income: donations to charity) shall be amended in accordance with subsections (2) to (8) below.
(2)In subsection (1), for paragraph (a) there shall be substituted—
“(a)a payment which, by reason of any provision of the Taxes Acts (within the meaning of the Management Act) except section 209(4), is to be regarded as a distribution; and”.
(3)Subsections (2), (3), (3A), (3F), (6), (7) and (8) shall cease to have effect.
(4)In subsection (3B)(b), for “two and a half per cent. of the amount given after deducting tax under section 339(3)" there shall be substituted “ the limit imposed by subsection (3DA) below ”.
(5)After subsection (3D) there shall be inserted—
“(3DA)The limit imposed by this subsection is—
(a)where the amount of the payment does not exceed £100, 25 per cent of the amount of the payment;
(b)where the amount of the payment exceeds £100 but does not exceed £1,000, £25;
(c)where the amount of the payment exceeds £1,000, 2.5 per cent of the amount of the payment.
(3DB)Where a benefit received in consequence of making a payment—
(a)consists of the right to receive benefits at intervals over a period of less than twelve months;
(b)relates to a period of less than twelve months; or
(c)is one of a series of benefits received at intervals in consequence of making a series of payments at intervals of less than twelve months,
the value of the benefit shall be adjusted for the purposes of subsection (3C) above and the amount of the payment shall be adjusted for the purposes of subsection (3DA) above.
(3DC)Where a benefit, other than a benefit which is one of a series of benefits received at intervals, is received in consequence of making a payment which is one of a series of payments made at intervals of less than twelve months, the amount of the payment shall be adjusted for the purposes of subsection (3DA) above.
(3DD)Where the value of a benefit, or the amount of a payment, falls to be adjusted under subsection (3DB) or (3DC) above, the value or amount shall be multiplied by 365 and the result shall be divided by—
(a)in a case falling within subsection (3DB)(a) or (b) above, the number of days in the period of less than twelve months;
(b)in a case falling within subsection (3DB)(c) or (3DC) above, the average number of days in the intervals of less than twelve months;
and the reference in subsection (3DB) to subsection (3C) above is a reference to that subsection as it applies for the purposes of subsection (3B) above.”.
(6)For subsection (4) there shall be substituted—
“(4)Where a company gives a sum of money to a charity, the gift shall in the hands of the charity be treated for the purposes of this Act as if it were an annual payment.”.
(7)For subsection (7AA) there shall be substituted—
“(7AA)Where—
(a)a qualifying donation to a charity is made by a company which is wholly owned by a charity, and
(b)the company makes a claim for the donation, or any part of it, to be deemed for the purposes of section 338 to be a charge on income paid in an accounting period falling wholly or partly within the period of nine months ending with the date of the making of the donation,
the donation or part shall be deemed for those purposes to be a charge on income paid in that accounting period, and not in any later period.
A claim under this subsection must be made within the period of two years immediately following the accounting period in which the donation is made, or such longer period as the Board may allow.”.
(8)In subsection (9), the words “in subsections (1) to (4) above includes” shall cease to have effect.
(9)In subsection (1) of section 209 of the Taxes Act 1988 (meaning of “distribution”), for “section 339(6) and any other express exceptions" there shall be substituted “ any express exceptions ”.
(10)In subsection (2)(a) of section 338 of that Act (allowance of charges on income and capital), after “company" there shall be inserted “ or payments falling within paragraph (b) below ”.
(11)This section has effect in relation to payments made on or after 1st April 2000; and—
(a)so much of an accounting period as falls before that date; and
(b)so much of it as falls after 31st March 2000,
shall be treated as separate accounting periods for the purposes of the amendment made by subsection (5) above.
(1)In subsection (5)(b) of section 338 of the Taxes Act 1988 (allowances of charges on income and capital), for “a covenanted donation to charity" there shall be substituted “ a qualifying donation ”.
(2)In section 347A of that Act (annual payments and interest: general rule), subsections (2)(b), (7) and (8) shall cease to have effect.
F12(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F12(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)In subsection (6) of section 505 of that Act (charities: general), the words “and, for this purpose, all covenanted payments to charity (within the meaning of section 347A(7)) shall be treated as a single item” shall cease to have effect.
F13(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)Section 59 of the M3Finance Act 1989 (covenanted subscriptions) shall cease to have effect.
(8)Where a deed of covenant executed by an individual before 6th April 2000 provides for the payment of specified amounts, any amount payable under the deed on or after that date shall be determined as if the individual were entitled to deduct tax from that amount at the basic rate.
(9)This section shall have effect in relation to covenanted payments—
(a)falling to be made by individuals on or after 6th April 2000; or
(b)made by companies on or after 1st April 2000.
Textual Amendments
F12S. 41(3)(4) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
F13S. 41(6) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)
Marginal Citations
(1)In section 48 of the M4Finance Act 1998 (gifts of money for relief in poor countries), subsections (3), (6) and (7) shall cease to have effect.
(2)In subsection (4) of that section—
(a)in paragraph (a), after “made" there shall be inserted “ before 6th April 2000 ”;
(b)after paragraph (b) there shall be inserted—
“(bb)the subsequent gift, or at least one of the subsequent gifts, is made on or after 6th April 2000;”;
and
(c)in paragraph (c), for “appropriate certificate" there shall be substituted “ appropriate declaration ”.
(3)In subsection (8) of that section, for the definition of “relevant gift" there shall be substituted—
““relevant gift” means a gift to which this section applies—
(a)which satisfies the requirements of subsection (2) of section 25 of the M5Finance Act 1990 (as amended by section 39 of the Finance Act 2000); or
(b)which would satisfy those requirements if paragraph (e) of that subsection were disregarded.”.
(1)After section 587A of the Taxes Act 1988 there shall be inserted—
(1)Subsections (2) and (3) below apply where, otherwise than by way of a bargain made at arm’s length, an individual, or a company which is not itself a charity, disposes of the whole of the beneficial interest in a qualifying investment to a charity.
(2)On a claim made in that behalf to an officer of the Board—
(a)the relevant amount shall be allowed—
(i)in the case of a disposal by an individual, as a deduction in calculating his total income for the purposes of income tax for the year of assessment in which the disposal is made;
(ii)in the case of a disposal by a company, as a charge on income for the purposes of corporation tax for the accounting period in which the disposal is made; and
(b)no relief in respect of the disposal shall be given under section 83A or any other provision of the Income Tax Acts;
but paragraph (a)(i) above shall not apply for the purposes of any computation under section 550(2)(a) or (b).
(3)The consideration for which the charity’s acquisition of the qualifying investment is treated by virtue of section 257(2) of the 1992 Act as having been made—
(a)shall be reduced by the relevant amount; or
(b)where that consideration is less than that amount, shall be reduced to nil.
(4)Subject to subsections (5) to (7) below, the relevant amount is an amount equal to—
(a)where the disposal is a gift, the market value of the qualifying investment at the time when the disposal is made;
(b)where the disposal is at an undervalue, the difference between that market value and the amount or value of the consideration for the disposal.
(5)Where there are one or more benefits received in consequence of making the disposal which are received by the person making the disposal or a person connected with him, the relevant amount shall be reduced by the value of that benefit or, as the case may be, the aggregate value of those benefits; and section 839 applies for the purposes of this subsection.
(6)Where the disposal is a gift, the relevant amount shall be increased by the amount of the incidental costs of making the disposal to the person making it.
(7)Where the disposal is at an undervalue—
(a)to the extent that the consideration for the disposal is less than that for which the disposal is treated as made by virtue of section 257(2)(a) of the 1992 Act, the relevant amount shall be increased by the amount of the incidental costs of making the disposal to the person making it; and
(b)section 48 of that Act (consideration due after time of disposal) shall apply in relation to the computation of the relevant amount as it applies in relation to the computation of a gain.
(8)In the case of a disposal by a company which is carrying on life assurance business—
(a)if the company is charged to tax under Case I of Schedule D in respect of such business, subsections (2) and (3) above shall not apply;
(b)if the company is not so charged to tax in respect of such business—
(i)subsection (2)(a)(ii) above shall have effect as if for “a charge on income" there were substituted “an expense of management"; and
(ii)the relevant amount given by subsection (4) above shall be reduced by so much (if any) of that amount as is not referable to basic life assurance and general annuity business;
and for the purpose of determining how much (if any) of that amount is not so referable, section 432A shall have effect as if that amount were a gain accruing on the disposal of the qualifying investment to the company.
(9)In this section—
“authorised unit trust” and “open-ended investment company” have the meanings given by section 468;
“charity” has the same meaning as in section 506 and includes each of the bodies mentioned in section 507(1);
“the incidental costs of making the disposal to the person making it” shall be construed in accordance with section 38(2) of the 1992 Act;
“life assurance business” and related expressions have the same meaning as in Chapter I of Part XII;
“offshore fund” means a collective investment scheme (within the meaning of the M6Financial Services Act 1986) which is constituted by any company, unit trust scheme or other arrangement falling within paragraph (a), (b) or (c) of section 759(1);
“qualifying investment” means any of the following—
shares or securities which are listed or dealt in on a recognised stock exchange;
units in an authorised unit trust;
shares in an open-ended investment company; and
an interest in an offshore fund.
(10)Subject to subsection (11) below, the market value of any qualifying investment shall be determined for the purposes of this section as for the purposes of the 1992 Act.
(11)In the case of an interest in an offshore fund for which there are separate published buying and selling prices, section 272(5) of the 1992 Act (meaning of “market value” in relation to rights of unit holders in a unit trust scheme) shall apply with any necessary modifications for determining the market value of the interest for the purposes of this section.”.
(2)In subsection (2) of section 338 of that Act (allowances of charges on income and capital), immediately before paragraph (a) there shall be inserted—
“(za)amounts allowed as charges on income under section 587B(2)(a)(ii);”.
(3)This section has effect in relation to—
(a)disposals made by individuals on or after 6th April 2000; and
(b)disposals made by companies on or after 1st April 2000.
Marginal Citations
F14(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F14(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F14(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F15(5A)This section applies if—
(a)in a year of assessment qualifying income arises under a UK settlement,
(b)the qualifying income consists of charitable income and non-charitable income, and
(c)expenses of the trustees are to be used to reduce the charitable income for the purpose of calculating a beneficiary's liability to corporation tax.
(5B)The amount of those expenses which can used for that purpose is limited to the amount allocated to the charitable income.
(5C)The amount of the expenses allocated to the charitable income is determined by apportioning them rateably between the charitable income and the non-charitable income.
(5D)In this section—
“charitable income” means income within section 628(1) or 630(1) of ITTOIA 2005,
“non-charitable income” means income which is not charitable income, and
“qualifying income” and “UK settlement” have the same meaning as in section 628 of ITTOIA 2005.]
(6)This section has effect in relation to qualifying income arising to a UK trust on or after 6th April 2000.
Textual Amendments
F14S. 44(1)-(3) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 512(2), Sch. 3 (with Sch. 2)
F15S. 44(5A)-(5D) substituted for s. 44(4)(5) (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 391 (with Sch. 2)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F16S. 45 repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 513, Sch. 3 (with Sch. 2)
(1)Subject to subsections (2) and (2A) below, exemption—,
F17(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F18(b)from corporation tax chargeable—
(i)under Part 3 of the Corporation Tax Act 2009 in respect of a trade carried on wholly or partly in the United Kingdom, or
(ii)under or by virtue of any provision to which section 834A of the Taxes Act 1988 (miscellaneous charges) applies,]
shall be granted on a claim made in that behalf to the Board, in respect of any income of a [F19charitable company] if the requirements of subsection (3) below are satisfied with respect to the income.
[F20(2)Exemption shall not be granted under subsection (1) above in respect of income which is chargeable to—
F21(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)corporation tax [F22under or by virtue of any provision to which section 834A of the Taxes Act 1988 applies],
by virtue of any of the provisions mentioned in subsection (2A).
(2A)The provisions are—
(a)sections 214, F23...[F24 or 776] of the Taxes Act 1988;
F25(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F26(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(d)any other enactment specified in an order made by the Treasury.]
(3)The requirements of this subsection are satisfied with respect to any income for [F27an accounting] period if it is applied solely for the purposes of the [F28charitable company] and either—
(a)the [F29charitable company's] gross income for the [F30accounting] period does not exceed the requisite limit; or
(b)the [F28charitable company] had, at the beginning of the period, a reasonable expectation that its gross income for the period would not exceed that limit.
(4)Subject to subsection (5) below, the requisite limit is whichever is the greater of—
(a)£5,000; and
(b)whichever is the lesser of £50,000 and 25% of all of the [F31charitable company's] incoming resources for the [F32accounting] period.
(5)For [F33an accounting] period of less than twelve months, the amounts of £5,000 and £50,000 specified in subsection (4) above shall be proportionally reduced.
(6)In this section—
[F34“charitable company” means any body of persons established for charitable purposes only;]
F35...
“gross income”, in relation to a [F36charitable company], means income before deduction of any expenses;
“income”, in relation to a [F37charitable company], means [F38—
F39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
[F40any profits or gains or other income—
which is chargeable to corporation tax under Part 3 of the Corporation Tax Act 2009 in respect of a trade carried on wholly or partly in the United Kingdom, or
which is chargeable to corporation tax under or by virtue of any provision to which section 834A of the Taxes Act 1988 applies,
and which (in either case) is not, apart from this section, exempted from corporation tax chargeable under or by virtue of that Part or provision.]
(7)This section applies F41... for accounting periods beginning on or after 1st April 2000.
Textual Amendments
F17S. 46(1)(a) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(2)(a), Sch. 3 Pt. 1 (with Sch. 2)
F18S. 46(1)(b) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 463(2) (with Sch. 2 Pts. 1, 2)
F19Words in s. 46(1) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(2)(b) (with Sch. 2)
F20S. 46(2)(2A) substituted (6.4.2005) for s. 46(2) (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 514(3) (with Sch. 2)
F21S. 46(2)(a) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(3), Sch. 3 Pt. 1 (with Sch. 2)
F22Words in s. 46(2)(b) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 463(3) (with Sch. 2 Pts. 1, 2)
F23Word in s. 46(2A) omitted (with effect in accordance with Sch. 14 para. 18 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 14 para. 17(i)
F24Words in s. 46(2A) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 463(4)(a) (with Sch. 2 Pts. 1, 2)
F25S. 46(2A)(b) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 463(4)(b), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
F26S. 46(2A)(c) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(4)(c), Sch. 3 Pt. 1 (with Sch. 2)
F27Words in s. 46(3) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(5)(a) (with Sch. 2)
F28Words in s. 46(3) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(5)(b) (with Sch. 2)
F29Words in s. 46(3)(a) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(5)(c) (with Sch. 2)
F30Word in s. 46(3)(a) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(5)(d) (with Sch. 2)
F31Words in s. 46(4)(b) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(6)(a) (with Sch. 2)
F32Word in s. 46(4)(b) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(6)(b) (with Sch. 2)
F33Words in s. 46(5) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(7) (with Sch. 2)
F34Words in s. 46(6) inserted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(8)(a) (with Sch. 2)
F35Words in s. 46(6) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(8)(b), Sch. 3 Pt. 1 (with Sch. 2)
F36Words in s. 46(6) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(8)(c) (with Sch. 2)
F37Words in s. 46(6) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(8)(d)(i) (with Sch. 2)
F38Words in s. 46(6) inserted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 514(4)(a) (with Sch. 2)
F39Words in S. 46(6) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(8)(d)(ii), Sch. 3 Pt. 1 (with Sch. 2)
F40Words in s. 46(6) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 463(5) (with Sch. 2 Pts. 1, 2)
F41Words in s. 46(7) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 392(9), Sch. 3 Pt. 1 (with Sch. 2)