2(1)In section 660C of ICTA, omit subsection (4) (income which is income of settlor alone for income tax purposes by virtue of section 624 or 629 of ITTOIA 2005 not income of any company for corporation tax purposes).U.K.
(2)The amendment made by sub-paragraph (1) has effect in relation to accounting periods ending on or after 6th March 2007.
(3)But income which arises in an accounting period beginning before that date is to be chargeable to corporation tax as a result of that amendment only if it arises on or after that date.