SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 1Income and Corporation Taxes Act 1988

147

1

Amend section 444AEC (Case I advantage: transferee) as follows.

2

In subsection (1)—

a

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

b

in paragraphs (a) and (b) for “Case I” substitute “section 35”.

3

In subsection (2)—

a

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

b

for “the Case I advantage” substitute “the advantage”, and

c

in paragraphs (a) and (b) for “Case I” substitute “section 35”.

4

In subsection (4) for “Case I”, in both places where it occurs, substitute “section 35”.

5

In the title for “Case I” substitute “Life assurance trade profits”.