19U.K.ITTOIA 2005 is amended as follows.
20U.K.In section 640(6)(b) (grossing-up of deemed income)—
(a)omit the “and” at the end of sub-paragraph (i), and
(b)insert at the end “up to and including the year 2009-2010, and
(iii)50%, if the relevant tax year is the year 2010-2011 or any subsequent tax year.”
F121U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 2 para. 21 omitted (with effect in accordance with s. 4(18) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 4(14)(c)
22U.K.In section 685A(3) (settlor-interested settlements), for “higher rate” substitute “ additional rate ”.
23(1)Part 2 of Schedule 4 (index of defined expressions) is amended as follows.U.K.
(2)After the entry relating to “acquisition expenditure (in Chapter 9 of Part 2)” insert—
“additional rate | section 6(2) of ITA 2007 (as applied by section 989 of that Act).” |
(3)After the entry relating to “distribution” insert—
“the dividend additional rate | section 8(3) of ITA 2007 (as applied by section 989 of that Act).” |