Income Tax (Trading and Other Income) Act 2005 Schedule 2 paragraph 7

General saving for old transitional provisions and savings

Paragraph 7 of Schedule 2 ensures that older transitional provisions and savings connected to legislation rewritten in this Act continue to have effect, even though the original provisions have been repealed.

• Where this Act repeals a transitional or saving provision linked to a rewritten provision, that transitional or saving provision continues to operate so long as it has not been specifically rewritten and remains capable of having effect
• Where this Act repeals an enactment that was itself previously repealed subject to savings, those earlier savings continue to operate
• Where this Act repeals a saving that was attached to a previous repeal of an enactment, that saving continues to operate provided it has not been specifically rewritten and remains capable of having effect
• The overall purpose is to prevent the consolidation exercise from inadvertently removing protections or transitional arrangements that taxpayers and practitioners may still rely upon