SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Income Tax (Trading and Other Income) Act 2005 (c. 5)

562In section 677 (relief where UK income tax borne by foreign estate: absolute interests) after subsection (2) insert—

“(3)The tax reduction under this section is given effect at Step 6 of the calculation in section 23 of ITA 2007.”