Corporation Tax Act 2009 (c. 4)

SCHEDULES

SCHEDULE 1 U.K. Minor and consequential amendments

Part 2 U.K. Other enactments

Finance Act 2003 (c. 14) U.K.

558 U.K. The Finance Act 2003 is amended as follows.

559 U.K. Omit section 141 (corporation tax for employee share acquisitions).

560 U.K. Omit section 143 (restriction of deductions for employee benefit contributions).

561 U.K. In section 148 (meaning of “permanent establishment”)—

(a) in subsection (5A)—

(i) for “as defined by Chapter 5 of Part 2 of the Finance Act 2005” substitute “ within section 47(6) or (7), 47A(5), 48B(1) or 49A(2) of the Finance Act 2005 or section 511, 512 or 513(2) or (3) of the Corporation Tax Act 2009 ”, and

(ii) for “the arrangements falling within that section” substitute “ the alternative finance arrangements in question ”, and

(b) omit subsection (5B).

562 (1) Amend section 150 (non-resident companies: assessment, collection and recovery of corporation tax) as follows. U.K.

(2) In subsection (2) for “section 11(2A) of the Taxes Act 1988” substitute “ section 19 of the Corporation Tax Act 2009 ”.

(3) In subsection (7) omit the words from “; and” to the end.

(4) After subsection (7) insert—

“(7A) In this section references to carrying on a trade include holding an office.”

563 U.K. In section 152(2) (non-resident companies: transactions carried out through broker, investment manager or Lloyd's agent) for “section 11AA of the Taxes Act 1988” substitute “ Chapter 4 of Part 2 of the Corporation Tax Act 2009 ”.

564 U.K. After section 177(4) (currency contracts and currency options) insert—

“(4A) In relation to a subsequent accounting period ending on or after 1 April 2009, the reference in subsection (4)(c) to Schedule 26 is to be read as a reference to Part 7 of the Corporation Tax Act 2009.”

565 U.K. In section 195(9)(b) (companies acquiring their own shares) for the words from “in accordance with” to the end substitute “ under Chapter 2 of Part 3 of the Corporation Tax Act 2009 ”.

566 U.K. Omit Schedule 23 (corporation tax relief for employee share acquisitions).

567 U.K. Omit Schedule 24 (restriction of deductions for employee benefit contributions).

568 U.K. In paragraph 5A(2) of Schedule 26 (non-resident companies: transactions through broker, investment manager or Lloyd's agent) for “section 11AA of the Taxes Act 1988” substitute “ Chapter 4 of Part 2 of the Corporation Tax Act 2009 ”.