Regulation 6 Application of the 1988 Act: further provisions
Section 592(3) of the 1988 Actf1 (exemption from income tax in respect of underwriting commissions) applies in respect of underwriting commissions applied for the purposes of each of the Pensions Act Funds—
(a)
as if for “income tax” there were substituted “corporation tax”, and
(b)
as if for “under Chapter 8 of Part 5 of ITTOIA 2005 (income not otherwise charged)” there were substituted “under Case VI of Schedule D”.
Annotations
Footnotes
- f1
-
Section 592(3) was amended by paragraph 252(1) and (2) of Schedule 1 to the Income Tax (Trading and Other Income) Act 2005 (c. 5).