SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 1Income and Corporation Taxes Act 1988

287

1

Amend Schedule 25 (cases where section 747(3) does not apply) as follows.

2

In paragraph 2(1A)—

a

for paragraph (a) substitute—

a

it is chargeable neither under Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom nor under section 436A (gross roll-up business: separate charge on profits);

b

in paragraph (b) for the words from “Case I” to “above” substitute “ Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom, or under section 436A ”.

3

In paragraph 2(1B)(a) for “section 208” substitute “ section 1285 of CTA 2009 ”.

4

In paragraph 4(1A)—

a

for paragraph (a) substitute—

a

it is chargeable neither under Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom nor under section 436A (gross roll-up business: separate charge on profits);

b

in paragraph (b) for the words from “Case I” to “above” substitute “ Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom, or under section 436A ”.

5

In paragraph 12(6) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 ”.