Schedules
Schedule 2 Consequential amendments
The Income and Corporation Taxes Act 1988 (c. 1)
34 Section 397 (restriction of relief in case of farming and market gardening)
1
In subsection (5)—
a
omit the definition of “basis year”, and
b
in the definition of “chargeable period” omit the words from “or any basis period” to the end of the definition.
2
Omit subsection (6).
3
In subsection (7), for the words from “but so that” to the end of the subsection substitute
but disregarding—
a
any allowance or charge under the Capital Allowances Act (including enactments which under this Act are to be treated as contained in that Act); and
b
any provision of that Act requiring allowances and charges to be treated as expenses and receipts of the trade