Article 2 Amendments to the Income and Corporation Taxes Act 1988

(1)

The Income and Corporation Taxes Act 1988^f1 is amended as follows.

(2)

In sections 289(9)(d)^f2, 291B(10)^f3, 293(8AA)^f4 and 308(2)(d) for “840” substitute “995 of ITA 2007”.

(3)

In section 298(3) for “so much of the definition of “trade” in section 832(1) as relates to adventures or concerns in the nature of trade” substitute “section 989 of ITA 2007 (which defines “trade” as including any venture in the nature of trade)”.

(4)

In section 312(1)^f5, in the definition of “research and development”, for “837A” substitute “1006 of ITA 2007”.

(5)

In section 312(2)^f6 for “839” substitute “993 of ITA 2007”.

Annotations

Footnotes

f1: 1988 c. 1.
f2: Section 289(9) was substituted by paragraph 1(8) of Schedule 18 to the Finance Act 2004 (c. 12).
f3: Sections 291, 291A and 291B were substituted for section 291 by paragraph 5 of Schedule 15 to the Finance Act 1994 (c. 9).
f4: Sections 293(8) and (8AA) were substituted for section 293(8) by paragraph 11 of Schedule 17 to the Finance Act 2000 (c. 17).
f5: The definition of “research and development” in section 312(1) was substituted by paragraph 15(1) of Schedule 17 to the Finance Act 2000.
f6: Section 312(2) was amended by paragraph 23(4) of Schedule 13 to the Finance Act 1998 (c. 36).