SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
222
1
Amend section 768C (deductions: asset transferred within group) as follows.
2
In subsection (7) for “section 75” substitute “section 1219 of CTA 2009 (expenses of management of a company’s investment business)”.
3
In subsection (9)—
a
omit “and non-trading deficits”,
b
for “Chapter II of Part IV of the Finance Act 1996” substitute “Part 5 of CTA 2009”,
c
for “paragraph 14(3) of Schedule 26 to the Finance Act 2002” substitute “section 574 of that Act”, and
d
at the end insert “and the non-trading deficits in respect of those relationships that may be carried forward”.
4
In subsection (12) for “same meaning as in Part 4” substitute “meaning given by section 1218 of CTA 2009”.
5
In subsection (13)—
a
for “Schedule 29 to the Finance Act 2002” substitute “Part 8 of CTA 2009”,
b
in paragraph (a) for “paragraph 55 of that Schedule” substitute “section 775 of CTA 2009”,
c
in paragraph (b) for “that Act”, “that Schedule”, in the first place where it occurs, and “a credit within paragraph 34(1)(a) of that Schedule (non-trading credits)” substitute “the 1992 Act”, “that Part” and “a non-trading credit for the purposes of that Part (see section 746 of that Act)” respectively,
d
in paragraph (c) for “that Schedule” substitute “that Part (see section 734(1) of that Act)”, and
e
in paragraph (d) for “Part 6 of that Schedule” substitute “Chapter 6 of that Part”.