Section 238 Charge to corporation tax.

United Kingdom

1)—(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

(4)

In this Part of this Act, except in so far as the context otherwise requires—

(a)

“profits” means income and chargeable gains, and

(b)

“trade” includes “vocation", and includes also an office or employment F2or the occupation of woodlands in any context in which the expression is applied to that in the Income Tax Acts.

Annotations

Textual amendments

F1: Ss. 238(1)–(3) and 239–242 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31.
F2: Words repealed (6.4.1993) by Finance Act 1988 (c. 39, SIF 63:1, 2), s. 148, Sch. 14 Pt. V.

Notes on the whole Act

Textual amendments

F1: Act repealed (in relation to Tax for the year 1992/93 and subsequent years as mentioned in s. 289 of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), s. 290(3), Sch. 11 para. 24(1), Sch.12 (with savings in ss. 201(3), 290, Sch. 11 paras. 22, 26(2), 27), subject to applications, powers and amendments in the following enactments: Social Security Contributions and Benefits Act 1992 (c. 4), s. 16(1)(3), Sch. 2; Social Security (Consequential Provisions) Act 1992 (c. 6), s. 5, Sch. 3 Pt. II para. 15; Taxation of Chargeable Gains Act 1992 (c. 12), ss. 1(2), 209(3); Finance (No. 2) Act 1992, ss. 24, 49(2)(3)(a)(b)(4)(9), 77, Sch. 6 paras.4, 9, Sch. 17 paras. 6(3)(6), 7; S.I. 1992/58, arts. 9, 11(3),33, Sch. 2 para.1, S.I. 1992/1725, art. 107, Sch. 8 para.2; S.I. 1995/171, reg. 4(2)(a); S.I. 1995/1916, reg. 4; 1994 c. 9, s. 258, Sch. 26 Pt. V

Notes on Part XI

Modifications

C1: See Income and Corporation Taxes Act 1988 (c. 1, SIF:63:1), ss. 114–116— special rules for partnerships involving companies.

Notes on Chapter I

Modifications

C1: See Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss. 21(2), 59— Pt. XI Ch. 1 to have effect to the exclusion of those sections (persons chargeable under Schs. A and D).