# Income Tax (Trading and Other Income) Act 2005, Paragraph 457

Extent: E+W+S+N.I.

(1) Amend section 41 (relief for preliminary expenditure) as follows.
(2) In subsection (1)—
(a) for “tax purposes”, in the first place where it occurs, substitute “ the purposes of corporation tax ”,
(b) for “a person” substitute “ a company within the charge to corporation tax ”,
(c) for “that person” substitute “ the company ”,
(d) for “him” substitute “ it ”, and
(e) after “section 40D above” insert “ or section 143 of ITTOIA 2005 ”.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) In subsection (7)—
(a) after “this section” insert “ or section 137 of ITTOIA 2005 (corresponding income tax provision) ”, and
(b) for “tax purposes” substitute “ the purposes of corporation tax ”.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/schedule/1/paragraph/457 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-1/paragraph-457
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.