SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 1Income and Corporation Taxes Act 1988

145

1

Amend section 444AEA (transfer schemes: anti-avoidance rule) as follows.

2

In subsection (1)—

a

in paragraph (a) for “Case I” substitute “ life assurance trade profits ”, and

b

in paragraph (b) omit “Case I”.

3

In subsection (3)—

a

for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

b

omit “transferor's Case I”.

4

In subsection (4)—

a

for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

b

omit “transferee's Case I”.