SCHEDULES

SCHEDULE 1Consequential amendments

Part 2Other enactments

Finance (No. 2) Act 1992 (c. 48)

457

1

Amend section 41 (relief for preliminary expenditure) as follows.

2

In subsection (1)—

a

for “tax purposes”, in the first place where it occurs, substitute “ the purposes of corporation tax ”,

b

for “a person” substitute “ a company within the charge to corporation tax ”,

c

for “that person” substitute “ the company ”,

d

for “him” substitute “ it ”, and

e

after “section 40D above” insert “ or section 143 of ITTOIA 2005 ”.

F13

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

In subsection (7)—

a

after “this section” insert “ or section 137 of ITTOIA 2005 (corresponding income tax provision) ”, and

b

for “tax purposes” substitute “ the purposes of corporation tax ”.