SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
154
1
Amend section 703 (cancellation of tax advantage) as follows.
2
In subsection (1)—
a
for “person” substitute “
company
”
,
b
for “tax”, in both places where it occurs, substitute “
corporation tax
”
,
c
for “he” substitute “
it
”
, and
d
for “him” substitute “
it
”
.
3
In subsection (2)—
a
for “tax” substitute “
corporation tax
”
,
b
for “person” substitute “
company
”
, and
c
for “him” substitute “
it
”
.
4
In subsection (3)—
a
for “tax advantage”, in both places where it occurs, substitute “
corporation tax advantage
”
,
b
for “person” substitute “
company
”
,
c
for “him”, in both places where it occurs, substitute “
it
”
,
d
omit “in the case of corporation tax”, and
e
for “liability to tax” substitute “
liability to corporation tax
”
.
5
Omit subsection (3A).
6
In subsection (9)—
a
for “person”, in both places where it occurs, substitute “
company
”
,
b
for “him”, wherever it occurs, substitute “
it
”
, and
c
for “his” substitute “
its
”
.
7
In subsection (10) for “person” substitute “
company
”
.
8
Omit subsection (11).
9
In subsection (12)—
a
for “tax advantage”, in both places where it occurs, substitute “
corporation tax advantage
”
,
b
for “chargeable period”, in the second place where it occurs, substitute “
accounting period
”
, and
c
for “Tax Acts” substitute “
Corporation Tax Acts
”
.
10
In the sidenote for “tax” substitute “
corporation tax
”
.