SCHEDULES
SCHEDULE 1Consequential amendments
Part 1Income and Corporation Taxes Act 1988
106
1
Amend section 122 (relief in respect of mineral royalties) as follows.
2
In subsection (1)—
a
for the words from “a person resident” to “year of assessment or” substitute “
a company resident in the United Kingdom which in any
”
,
b
omit “for the purposes of income tax, or as the case may be”,
c
for “him” substitute “
it
”
, and
d
omit “year or” in both places where it occurs.
3
In subsection (2)—
a
omit the words from “brought into account” to “may be,”, and
b
for “subsection (2)” substitute “
subsection (3)
”
.
4
Omit subsection (4).