Corporation Tax Act 2009 Schedule 1 Part 1

Minor and consequential amendments to the Income and Corporation Taxes Act 1988

Schedule 1 Part 1 sets out the consequential amendments and repeals made to the Income and Corporation Taxes Act 1988 (ICTA 1988) as a result of the rewrite of corporation tax rules into the Corporation Tax Act 2009.

• The CTA 2009 rewrite removed the old Schedule D framework (Cases I to VI) for charging corporation tax on income, replacing it with new standalone charging provisions for trading income, property income, loan relationships, derivative contracts and miscellaneous income
• Numerous ICTA 1988 sections were repealed outright because their substance was rewritten into the CTA 2009 or had become redundant — including rules on trade profit computation, property income, expenses of management, patent income, bad debts, redundancy payments, and estate income
• Where ICTA 1988 provisions remained in force (for example, life assurance, controlled foreign companies, double taxation relief and anti-avoidance rules), cross-references were updated to point to the equivalent CTA 2009 provisions instead of the old Schedule D Cases and Finance Act schedules
• A new section 834A was inserted into ICTA 1988 to replicate the former generic scope of Schedule D Case VI for corporation tax purposes, mirroring the income tax equivalent in section 1016 of ITA 2007, and a partial definition of "income" was added to section 834(1) to cover amounts subject to the charge to corporation tax on income

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