Taxation (International and Other Provisions) Act 2010 section Schedule 9 paragraph 11

Conversion of references to the profits tax in old arrangements

Schedule 9 paragraph 11 explains how old double taxation arrangements that were originally made in relation to the now-abolished profits tax are to be read as applying to corporation tax instead.

• Old double taxation arrangements made in relation to the profits tax (abolished in 1965) continue to have effect but are read as applying to corporation tax rather than income tax.
• References in those old arrangements to profits chargeable to the profits tax are treated as references to income and chargeable gains subject to corporation tax.
• References to chargeable accounting periods in the old arrangements are read as references to accounting periods.
• These conversion rules are subject to any contrary provisions in later double taxation arrangements made after 5 August 1965.