Paragraph 424

(1)

Amend section 15 (Class 4 contributions recoverable under the Income Tax Acts) as follows.

(2)

In subsection (1)—

(a)

for “annual profits or gains” substitute “ profits ”,

(b)

omit the “and” at the end of paragraph (a),

(c)

in paragraph (b) for “are profits or gains chargeable to income tax under Case I or Case II of Schedule D” substitute “ are profits chargeable to income tax under Chapter 2 of Part 2 of the Income Tax (Trading and Other Income) Act 2005 ”, and

(d)

at the end of that paragraph insert

“and
(c)
are not profits of a trade, profession or vocation carried on wholly outside the United Kingdom.”

(3)

In subsections (2), (3) and (3A) omit “or gains” in each place where they occur.

(4)

Omit subsection (4).