Paragraph 14

Section 30B of the Taxes Management Act 1970 (amendment of partnership statement where loss of tax discovered) is amended as follows.

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In subsection (7)(b) for “section 8, 8A or 11” substitute “ section 8 or 8A ”.

In subsection (9) for the definition of “profits” substitute—

““profits”—

(a)

in relation to income tax, means income,

(b)

in relation to capital gains tax, means chargeable gains, and

(c)

in relation to corporation tax, means profits as computed for the purposes of that tax;”.