Paragraph 358

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 1 para. 179(2)(a) omitted by Finance Act 2008 s. 41(7)(k)
Sch. 1 para. 179(2)(b) omitted by Finance Act 2008 s. 41(7)(k)
Sch. 1 para. 232 repealed by Finance Act 2012 Sch. 39 para. 28(1)
Sch. 1 para. 180 omitted by Finance Act 2008 s. 41(7)(k)
Sch. 1 para. 181 omitted by Finance Act 2008 s. 41(7)(k)

(1)

Amend section 180 (underwriting profits to be earned income) as follows.

(2)

In subsection (1) for paragraph (b) substitute—

“(b)
accordingly, shall constitute—
(i)
for the purposes of Part 4 of the Finance Act 2004, relevant UK earnings within section 189(2)(b) of that Act, and
(ii)
income in relation to which the treatment in section 836(2) of ITA 2007 does not apply.”

(3)

In the sidenote for “earned income” substitute “ relevant UK earnings etc ”.