SCHEDULES
SCHEDULE 8Minor and consequential amendments
Part 1Double taxation relief
Finance Act 1998 (c. 36)
53
FA 1998 is amended as follows.
54
1
Amend Schedule 18 (company tax returns etc) as follows.
2
In paragraph 8(1) (calculation of tax payable)—
a
in paragraph 2 of the Second step for “section 788 or 790 of that Act” substitute “
under sections 2 and 6 of TIOPA 2010 or under section 18(1)(b) and (2) of that Act
”
, and
b
in paragraph 3 of that step for “that Act” substitute “
the Taxes Act 1988
”
.
3
In paragraph 22(3)(c) (records of foreign tax: not sufficient to preserve the information in them) for sub-paragraph (ii) substitute—
ii
which would have been payable under the law of a territory outside the United Kingdom (“territory F”) but for a development relief.
4
In paragraph 22 after sub-paragraph (3) insert—
4
In sub-paragraph (3)(c) “development relief” means a relief—
a
given under the law of territory F with a view to promoting industrial, commercial, scientific, educational or other development in a territory outside the United Kingdom, and
b
about which provision is made in arrangements which have effect under section 2(1) of TIOPA 2010 (double taxation relief by agreement with territories outside the United Kingdom).