Income Tax Act 2007 (c. 3)

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.

502 (1) Amend section 232 (treatment of trading adjustment income) as follows. U.K.

(2) In subsection (3) for “Chapter 1 of Part 10 of ICTA” substitute “ Part 4 of ITA 2007 ”.

(3) In subsection (4) for the words from “the trade” to the end substitute “ the trade is relevant UK earnings within section 189(2)(b) of FA 2004, adjustment income is similarly relevant UK earnings. ”