4.—(1) Section 39(1) of the 1965 Act (annual returns) is amended as follows.

(2) In subsection (1)—

(a)for “period required by this section to be included in the return” substitute “year of account”;

(b)for “period” substitute “year”;

(c)in paragraph (a) for “period required to be included in the return” substitute “year of account”.

(3) In subsection (1A)(b) for “period included in the return” substitute “year of account”.

(4) In subsection (1B)—

(a)in paragraph (a) for “period included in the return” substitute “year of account”;

(b)in paragraph (b) for “period” substitute “year”.

(5) Omit subsections (2), (2A), (3) and (4).