Income Tax (Trading and Other Income) Act 2005 (c. 5)

SCHEDULES

Valid from 06/04/2005

SCHEDULE 1 U.K. Consequential amendments

Part 1 U.K. Income and Corporation Taxes Act 1988

19 (1) Amend section 36 (charge on sale of land with right to reconveyance) as follows. U.K.

(2) In subsection (1)—

(a) for “him”, in both places where it occurs, substitute “ the vendor ”, and

(b) for “his” substitute “ the vendor's ”.

(3) In subsection (2)(b)—

(a) for “tax” substitute “ corporation tax ”, and

(b) for “him” substitute “ the vendor ”.

(4) In subsection (3) for “him” substitute “ the vendor ”.

(5) In subsection (4A)(b) for “chargeable” substitute “ accounting ”.