SCHEDULES

SCHEDULE 3Limit on income tax reliefs

Consequential amendments

2

(1)

ITA 2007 is amended as follows.

(2)

In section 23 (calculation of income tax liability) at step 2 for “section 25” substitute “ sections 24A and 25 ”.

(3)

In the following provisions (which explain how certain reliefs work) for “section 25(4) and (5)” substitute “ sections 24A and 25(4) and (5) ”

(a)

section 65(1),

(b)

section 73,

(c)

section 121(1),

(d)

section 129(1), and

(e)

section 133(1).

(4)

In section 148 (share loss relief: disposal of shares forming part of mixed holding) in subsection (3)(b) before sub-paragraph (i) insert—

“(ai)

shares to which SEIS relief is attributable (as determined in accordance with Part 5A),”.