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SCHEDULES

SCHEDULE 1U.K.Consequential amendments

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

58(1)Amend section 84 (gifts to educational establishments) as follows.U.K.

(2)In subsection (1)—

(a)for “a person carrying on a trade, profession or vocation” substitute “ a company carrying on a trade or profession ”, and

(b)for “his trade” substitute “ its trade ”.

(3)In subsection (3)—

(a)for “the purposes of the Tax Acts” substitute “ corporation tax purposes ”, and

(b)for “his disposal” substitute “ its disposal ”.

(4)In subsection (3A) for “above is—” to the end substitute “ the period of two years beginning at the end of the accounting period in which the gift is made. ”

(5)Omit subsection (3B).

(6)In subsection (4)—

(a)after “in respect of the gift of an article” insert “ made by the donor ”,

(b)for “chargeable period”, in both places where it occurs, substitute “ accounting period ”,

(c)for “him” substitute “ the donor ”,

(d)before “tax”, in both places where it occurs, insert “ corporation ”, and

(e)for “he” substitute “ the donor ”.