Paragraph 536

United Kingdom

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Sch. 1 para. 232 repealed by Finance Act 2012 Sch. 39 para. 28(1)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 535 (top slicing relief) as follows.

(2)

After subsection (2) insert—

“(2A)
If the relief is given by a reduction in income tax, it is given effect at Step 6 of the calculation in section 23 of ITA 2007.”

F1(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

After subsection (6) insert—

“(7)
For the purposes of the calculations mentioned in subsection (1) any relief under Chapter 2 or 3 of Part 8 of ITA 2007 (which relate to gift aid and other gifts to charities) is ignored.”

Annotations

Textual amendments

F1: Sch. 1 para. 536(3) omitted (21.7.2008 with effect in accordance with Sch. 1 para. 65 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 1 para. 35