8. The increase in the amount of income and capital gains tax chargeable on or by reference to offshore income, assets or activities for a year of assessment for the purposes of section 106D of TMA 1970 (“the section 106D amount”) must be calculated in accordance with the applicable provisions of paragraphs 5, 6 and 7 of Schedule 24 to the Finance Act 2007(1) (inaccuracy in taxpayer’s document) (“paragraphs 5, 6 and 7”) construed as described in regulation 9.
2007 c. 11; paragraph 5 has been amended by paragraph 7 of Schedule 40 to the Finance Act 2008 (c. 9), paragraph 3 of Schedule 57 to the Finance Act 2009 (c. 10) and paragraph 575(a) and (b) of Schedule 1 to the Corporation Tax Act 2010 (c. 4); paragraph 6 has been amended by paragraph 8(2) and (3) of Schedule 40 to the Finance Act 2008.