Article 5 Amendment of Chapter 1 of Part 12 of the Income and Corporation Taxes Act 1988

(1)

Amend section 444AC^f1 (transfers of business: modification of section 83(2) of the Finance Act 1989) as follows.

(2)

In subsections (2) and (3)—

(a)

for “line 15 figure” substitute “line 31 figure”; and

(b)

for “as other income” substitute “as a business transfer-in”.

(3)

In subsection (2) for “83(2)(d)” substitute “83(2)(e)”.

Annotations

f1: This section and section 444AD were inserted by paragraph 20(1) of Schedule 33 to the Finance Act 2003.