SCHEDULES

SCHEDULE 2Transitionals and savings

Part 16Remediation of contaminated land

Part 14: expenditure incurred before 11 May 2001

125

1

Part 14 does not apply to expenditure incurred before 11 May 2001.

2

For this purpose section 61 (pre-trading expenses) is to be ignored.

Staffing costs

126

1

In its application to expenditure incurred—

a

before 1 April 2004, and

b

in an accounting period ending on or after 6 April 2003,

section 1170 has effect with the following modification.

2

For subsections (2) and (3) substitute—

2

This subsection applies to earnings paid by the company to directors or employees of the company.

For this purpose “earnings” means earnings or amounts treated as earnings which constitute employment income (see section 7(2)(a) or (b) of ITEPA 2003).