PART 4CONSEQUENTIAL AMENDMENTS

Amendment of ICTA126

1

ICTA is amended as follows.

2

In section 396(2) M1 (Case VI losses) for “section 761(1)(b)(ii)” substitute “ regulation 18(4) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.

3

In section 505(3)(b)(iii) M2 (charitable companies) for “section 761(6) below” substitute “ regulation 31 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.

4

In section 587B(9) M3 (gifts of shares, securities and real property to charities etc.), in the definition of “offshore fund”, for “Chapter 5 of Part 17” substitute “ section 40A of the Finance Act 2008 ”.

5

In section 834A M4 (miscellaneous charges relating to the former Case VI of Schedule D)—

a

in Part 1 of the Table omit the entry relating to section 761(1)(b)(ii), and

b

in Part 3 of the Table insert at the end—

Regulation 18(4) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001)

Offshore income gains

6

In section 842(3A) M5 (meaning of investment trust) for “section 761(1)(a)” substitute “ regulation 18(1) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.