356(1)Amend section 2 (provisions as to income tax, estate duty and stamp duty) as follows.U.K.
(2)In subsection (1)—
(a)omit paragraph (a),
(b)in paragraph (b) for “Schedule D” substitute “ Part 3 of the Income Tax (Trading and Other Income) Act 2005 ”, and
(c)in paragraph (c) for the words from “Schedule C” to “annual payment” substitute “ the provisions of the Income Tax (Trading and Other Income) Act 2005 specified in subsection (1A) in respect of the income chargeable under those provisions ”.
(3)After subsection (1) insert—
“(1A)The provisions are—
(a)Chapter 2 of Part 4 (interest) so far as the income is yearly interest or public revenue dividends (as defined in section 505(1A) of the Income and Corporation Taxes Act 1988),
(b)Chapter 7 of that Part (purchased life annuity payments),
(c)Chapter 10 of that Part (distributions from unauthorised unit trusts),
(d)Chapter 13 of that Part (sales of foreign dividend coupons) so far as the income arises from foreign holdings within section 571(1)(a) (meaning of “foreign holdings” in that Chapter),
(e)Chapter 2 of Part 5, so far as it relates to annual payments (receipts from intellectual property),
(f)Chapter 4 of that Part, so far as it relates to annual payments (certain telecommunication rights: non-trading income), and
(g)Chapter 7 of that Part (annual payments not otherwise charged).”