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SCHEDULES

SCHEDULE 1U.K.Minor and consequential amendments

Part 1 U.K.Income and Corporation Taxes Act 1988

36(1)Amend section 266 (life assurance premiums) as follows.U.K.

(2)In subsection (3)(c) omit the words from “, except” to “subsection (6) below”.

(3)In subsection (4) for “subsections (6) to (8)” substitute “ subsections (7) and (8) ”.

(4)Omit subsections (6) and (6A).

(5)In subsection (7)(b) for “there shall be deducted from his total income” substitute “ in calculating his net income there shall be deducted ”.

(6)In subsection (8)—

(a)for “but is entitled” substitute “ and is entitled ”,

(b)after “section 278(2)” insert “ or (2ZA) ”, and

(c)omit “(subject to section 278(3))”.

(7)In subsection (13) omit “this section and”.