Corporation Tax Act 2010 (c. 4)

Schedules

SCHEDULE 2 U.K. Transitionals and savings etc

Part 5 U.K. Losses on disposal of shares

Excluded activities: provision of services or facilities for another business U.K.

49 U.K. In relation to shares issued before 6 April 2007, section 199 of ITA 2007 (as applied by section 79(7) of this Act) applies with the following modifications—

(a) in subsections (1) to (4), the substitution of “ trade ” for “business”, wherever it occurs, and

(b) in subsection (5) the substitution for paragraph (b) of—

“(b) references to a trade, in relation to the provider of the services or facilities, are to be read without regard to the definition of “trade” in section 989, and

(c) “trade”, in relation to the other person, includes any business, profession or vocation”.