Paragraph 502

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Sch. 1 para. 232 repealed by Finance Act 2012 Sch. 39 para. 28(1)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 232 (treatment of trading adjustment income) as follows.

(2)

In subsection (3) for “Chapter 1 of Part 10 of ICTA” substitute “ Part 4 of ITA 2007 ”.

(3)

In subsection (4) for the words from “the trade” to the end substitute “ the trade is relevant UK earnings within section 189(2)(b) of FA 2004, adjustment income is similarly relevant UK earnings. ”