Paragraph 75

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Sch. 1 para. 232 repealed by Finance Act 2012 Sch. 39 para. 28(1)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 398 (transactions in deposits with and without certificates or in debts) as follows.

(2)

For “a person” substitute “ a company ”.

(3)

Omit “above or Chapter 11 of Part 4 of ITTOIA 2005 (transactions in deposits)”.

(4)

In paragraph (a)—

(a)

after “chargeable to” insert “ corporation ”, and

(b)

omit “above or that Chapter”.

(5)

In paragraph (b) for the words from “he is chargeable” to “that Act” substitute “ the company is chargeable to corporation tax under Schedule D ”.

(6)

For the words from “the amount of his loss may be set off in pursuance” to the end substitute “ the amount of its loss may be set off under section 396. ”