Corporation Tax Act 2010 (c. 4)

Schedules

SCHEDULE 1 U.K. Minor and consequential amendments

Part 2 U.K. Other enactments

Finance Act 2000 U.K.

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

309 U.K. Omit section 46 (exemption for small trades etc).

310 U.K. Omit section 98 (recovery of tax payable by non-resident company).

311 U.K. In section 119(9) (transfer of land to connected company) for “section 839 of the Taxes Act 1988” substitute “ section 1122 of the Corporation Tax Act 2010 ”.

312 U.K. In section 120(7) (exceptions) for “section 839(3) of the Taxes Act 1988” substitute “ section 1122(6) of the Corporation Tax Act 2010 ”.

313 U.K. In section 121(8) (grant of lease to connected company) for “section 839 of the Taxes Act 1988” substitute “ section 1122 of the Corporation Tax Act 2010 ”.

314 (1) Amend Schedule 6 (climate change levy) as follows. U.K.

(2) In paragraph 12(3) for “section 839 of the Taxes Act 1988” substitute “ section 1122 of the Corporation Tax Act 2010 ”.

(3) In paragraph 152(3) for “section 839 of the Taxes Act 1988” substitute “ section 1122 of the Corporation Tax Act 2010 ”.

315 (1) Amend Schedule 15 (the corporate venturing scheme) as follows. U.K.

(2) In paragraph 8—

(a) in sub-paragraph (2) for “section 416(2) to (6) of the Taxes Act 1988” substitute “ sections 450 and 451 of CTA 2010 ”, and

(b) in sub-paragraph (5) for “section 416(2) of that Act” substitute “ sections 450(2) to (4) of CTA 2010 ”.

(3) In paragraph 9(1) for “section 254 of the Taxes Act 1988” substitute “ section 1115 of CTA 2010 ”.

(4) In paragraph 17(3) for “section 840 of the Taxes Act 1988” substitute “ section 1124 of CTA 2010 ”.

(5) In paragraph 20(3) for “section 416(2) to (6) of the Taxes Act 1988” substitute “ sections 450 and 451 of CTA 2010 ”.

(6) In paragraph 21A for sub-paragraph (3) substitute—

“(3) In sub-paragraph (2) “property deriving its value from land” has the meaning given by section 833(2) of CTA 2010”.

(7) In paragraph 23A(1)(d) for “section 840 of the Taxes Act 1988” substitute “ section 1124 of CTA 2010 ”.

(8) In paragraph 33(3)(c)—

(a) for “section 344(2) of the Taxes Act 1988” substitute “ section 942 of CTA 2010 ”, and

(b) for “section 343” substitute “ section 941 ”.

(9) In paragraph 33(5) for “section 416(2) to (6) of the Taxes Act 1988” substitute “ sections 450 and 451 of CTA 2010 ”.

(10) In paragraph 46(2)(a) omit “for full consideration”.

(11) In paragraph 70—

(a) in sub-paragraph (1)(a) for “section 573 of the Taxes Act 1988” substitute “ Chapter 5 of Part 4 of CTA 2010 ”,

(b) omit sub-paragraph (1)(b) and the word “and” immediately before it, and

(c) in sub-paragraph (2)(a) for “section 573(2) of the Taxes Act 1988” substitute “ section 70 of CTA 2010 ”.

(12) In paragraph 94(4) for “section 834(1) of the Taxes Act 1988” substitute “ section 1119 of CTA 2010 ”.

(13) In paragraph 102(1)—

(a) in the definition of “director” for “section 417(5) of the Taxes Act 1988” substitute “ section 452 of CTA 2010 ”,

(b) in the definition of “ordinary share capital” for “section 832(1) of the Taxes Act 1988” substitute “ section 1119 of CTA 2010 ”,

(c) in the definition of “research and development” for “section 837A of the Taxes Act 1988” substitute “ section 1138 of CTA 2010 ”, and

(d) at the appropriate place insert—

““CTA 2010” means the Corporation Tax Act 2010;”.

(14) In paragraph 102(3) for “Section 839 of the Taxes Act 1988” substitute “ Section 1122 of CTA 2010 ”.

(15) In paragraph 103 at the appropriate place insert—

“CTA 2010

paragraph 102(1)”

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

(2) In paragraph 22F—

(a) in sub-paragraph (5) for “section 393A(1) of the Taxes Act 1988 (losses: set off against” substitute “ section 37 of the Corporation Tax Act 2010 (losses: deduction from total ”,

(b) in sub-paragraph (6) for “Chapter 4 of Part 10” substitute “ Part 5 ”, and

(c) in sub-paragraph (7) for “section 393(1) of that Act (losses other than terminal losses)” substitute “ section 45 of that Act (carry forward of trade loss) ”.

(3) In paragraph 57(6)—

(a) in paragraph (a) for “section 13(2) of the Taxes Act 1988 (marginal small companies' relief)” substitute “ section 19, 20 or 21 of the Corporation Tax Act 2010 (marginal relief for companies with small profits) ”, and

(b) in paragraph (b) for “section 7(2) or 11(3) of the Taxes Act 1988” substitute “ section 967 or 968 of the Corporation Tax Act 2010 ”.

(4) In paragraph 63(2)(dd) (meaning of “finance costs”) for “section 502K of the Taxes Act 1988” substitute “ section 379 of the Corporation Tax Act 2010 ”.

(5) In paragraph 89A(6) for “Section 839 of the Taxes Act 1988” substitute “ Section 1122 of the Corporation Tax Act 2010 ”.

(6) In paragraph 91C(5) for “Section 839 of the Taxes Act 1988” substitute “ Section 1122 of the Corporation Tax Act 2010 ”.

317 U.K. Omit Schedule 28 (recovery of tax payable by non-resident company).

318 U.K. In Schedule 34 (supplementary provisions) in paragraph 3(4)(b) for “section 839 of the Taxes Act 1988” substitute “ section 1122 of the Corporation Tax Act 2010 ”.