SCHEDULES

SCHEDULE 1Consequential amendments

Part 1Income and Corporation Taxes Act 1988

7

1

Amend section 9 (computation of income: application of income tax principles) as follows.

2

After subsection (2) insert—

2A

But no income shall be computed, and no assessment shall be made, for purposes of corporation tax under ITTOIA 2005.

2B

Instead, income shall continue to be computed, and the assessment shall continue to be made, for purposes of corporation tax under Schedules A and D and the Cases of Schedule D.

2C

For (but only for) the purpose of continuing to apply for purposes of corporation tax, those Schedules and Cases are treated as if they were still part of income tax law (and therefore applied in accordance with subsection (1) above for purposes of corporation tax).

3

In subsection (3)(a)—

a

for “, D and F,” substitute “ and D ”,

b

for “those Schedules” substitute “ Schedule D ”, and

c

omit “, as they apply for purposes of income tax”.

4

In subsection (4) after “Acts” insert “ (other than ITTOIA 2005) ”.

5

In subsection (6) omit “60 to 69,”.