Corporation Tax Act 2009 (c. 4)

SCHEDULES

SCHEDULE 1 U.K. Minor and consequential amendments

Part 2 U.K. Other enactments

Finance Act 2000 (c. 17) U.K.

462 U.K. The Finance Act 2000 is amended as follows.

463 (1) Amend section 46 (exemption for small trades etc) as follows. U.K.

(2) For subsection (1)(b) substitute—

“(b) from corporation tax chargeable—

(i) under Part 3 of the Corporation Tax Act 2009 in respect of a trade carried on wholly or partly in the United Kingdom, or

(ii) under or by virtue of any provision to which section 834A of the Taxes Act 1988 (miscellaneous charges) applies,”.

(3) In subsection (2)(b) for “under Case VI of Schedule D” substitute “ under or by virtue of any provision to which section 834A of the Taxes Act 1988 applies ”.

(4) In subsection (2A)—

(a) for the words from “, 703” to “790” substitute “ or 776 ”, and

(b) omit paragraph (b).

(5) In subsection (6), in the definition of “income”, for paragraph (b) substitute—

“(b) any profits or gains or other income—

(i) which is chargeable to corporation tax under Part 3 of the Corporation Tax Act 2009 in respect of a trade carried on wholly or partly in the United Kingdom, or

(ii) which is chargeable to corporation tax under or by virtue of any provision to which section 834A of the Taxes Act 1988 applies,

and which (in either case) is not, apart from this section, exempted from corporation tax chargeable under or by virtue of that Part or provision.”

464 U.K. Omit section 50 (phasing out of relief for payments to trustees of profit sharing schemes).

465 U.K. Omit section 69(1) (which introduces Schedule 20).

466 U.K. Omit section 143(2) (power to provide incentives to use electronic communications).

467 U.K. In Schedule 12 (provision of services through an intermediary) omit paragraphs 17 and 18.

468 U.K. In Schedule 15 (the corporate venturing scheme) in paragraph 60(1) omit “under Case VI of Schedule D”.

469 U.K. Omit Schedule 20 (tax relief for expenditure on research and development).

470 (1) Amend Schedule 22 (tonnage tax) as follows. U.K.

(2) In paragraph 50(2)—

(a) in paragraph (a) for “Chapter II of Part IV of the Finance Act 1996” substitute “ Part 5 of the Corporation Tax Act 2009 ”, and

(b) in paragraph (c) for “under Schedule 26 to the Finance Act 2002 (derivative contracts)” substitute “ in accordance with Part 7 of the Corporation Tax Act 2009 (derivative contracts) ”.

(3) For paragraph 51(3) and (4) substitute—

“(3) For the purposes of this paragraph “income from investments” includes anything chargeable to tax under—

(a) Part 4 of the Corporation Tax Act 2009 (property income),

(b) section 299 of that Act (loan relationships: non-trading profits),

(c) Chapter 5 of Part 10 of that Act (distributions from unauthorised unit trusts), or

(d) Chapter 7 of that Part (annual payments not otherwise charged).”

(4) In paragraph 61(6) for “Chapter II of Part IV of the Finance Act 1996” substitute “ Part 5 of the Corporation Tax Act 2009 ”.

(5) In paragraph 62(6) for “Chapter II of Part IV of the Finance Act 1996” substitute “ Part 5 of the Corporation Tax Act 2009 ”.

(6) In paragraph 63(2)—

(a) in paragraph (a) for “Chapter II of Part IV of the Finance Act 1996” substitute “ Part 5 of the Corporation Tax Act 2009 ”,

(b) in paragraph (b) for “under Schedule 26 to the Finance Act 2002 (derivative contracts)” substitute “ in accordance with Part 7 of the Corporation Tax Act 2009 (derivative contracts) ”, and

(c) in paragraph (c) for “section 103(1A) of the Finance Act 1996” substitute “ section 475 of the Corporation Tax Act 2009 ”.