Corporation Tax Act 2009 (c. 4)

SCHEDULES

SCHEDULE 1 U.K. Minor and consequential amendments

Part 2 U.K. Other enactments

Income Tax (Trading and Other Income) Act 2005 (c. 5) U.K.

589 (1) Amend section 48 (car or motor cycle hire) as follows. U.K.

(2) In subsection (3) for “the deduction is reduced as a result of subsection (2)” substitute “ a deduction is reduced as a result of subsection (2), or a corresponding provision, ”.

(3) In subsection (4)(a) omit “under section 97 (debts incurred and later released)”.

(4) After subsection (4) insert—

“(4A) In this section “corresponding provision” means—

(a) section 56(2) of CTA 2009 (car or motor cycle hire: trade profits and property income),

(b) section 1251(2) of CTA 2009 (car or motor cycle hire: expenses of management), or

(c) section 76ZN(2) of ICTA (car or motor cycle hire: expenses of insurance companies).”