{
  "url": "https://openlegislation.uk/income-tax-act-2007/schedule-1/paragraph-75",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/schedule-1/paragraph-75.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "schedule/1/paragraph/75",
  "kind": "paragraph",
  "number": "75",
  "heading": null,
  "text": "(1) Amend section 398 (transactions in deposits with and without certificates or in debts) as follows.\n(2) For “a person” substitute “ a company ”.\n(3) Omit “above or Chapter 11 of Part 4 of ITTOIA 2005 (transactions in deposits)”.\n(4) In paragraph (a)—\n(a) after “chargeable to” insert “ corporation ”, and\n(b) omit “above or that Chapter”.\n(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 ”.\n(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. ”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "omitted",
      "affecting": "ukpga/2008/9",
      "affecting_title": "Finance Act 2008"
    },
    {
      "type": "omitted",
      "affecting": "ukpga/2008/9",
      "affecting_title": "Finance Act 2008"
    },
    {
      "type": "repealed",
      "affecting": "ukpga/2012/14",
      "affecting_title": "Finance Act 2012"
    },
    {
      "type": "omitted",
      "affecting": "ukpga/2008/9",
      "affecting_title": "Finance Act 2008"
    },
    {
      "type": "omitted",
      "affecting": "ukpga/2008/9",
      "affecting_title": "Finance Act 2008"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/schedule/1/paragraph/75",
    "retrieved_at": "2026-10-29T09:13:03.599581+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}