SCHEDULES

SCHEDULE 43U.K.PRT: abolition of provisional expenditure allowance

SavingsU.K.

4(1)This paragraph applies if provisional expenditure allowance has been calculated in respect of a pre-abolition chargeable period (“the relevant allowance”).U.K.

(2)The saved provisions continue to have effect in future chargeable periods in relation to the relevant allowance and the relevant participator as if those provisions had not been amended by paragraph 3.

(3)In this paragraph—

  • “pre-abolition chargeable period” means a chargeable period that begins before 30 June 2009;

  • “relevant participator” means the participator in respect of which the relevant allowance has been calculated;

  • “the saved provisions” means—

    (a)

    section 2(8) and (10) of OTA 1975, and

    (b)

    paragraph 11 of Schedule 17 to FA 1980.