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Income Tax (Trading and Other Income) Act 2005
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- UK Public General Acts
- 2005 c. 5
- SCHEDULE 1
- Part 1
- Paragraph 304
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304(1)Amend section 740 (liability of non-transferors) as follows.
(2)In subsection (2)—
(a)in paragraph (a) after “for that year” insert “and be charged to income tax on that individual for that year”, and
(b)in paragraph (b) after “his income for the next following year” insert “and be charged to income tax on him for that year”.
(3)Omit subsection (4).
(4)In subsection (5) for the words from “; and subsections (6) to (9)” to the end substitute “; and sections 833 and 834 of ITTOIA 2005 shall apply for the purposes of this subsection as they would apply for the purposes of section 832 (remittance basis) of that Act if the benefit were relevant foreign income.”
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