Taxation (International and Other Provisions) Act 2010 Schedule 8 Part 12

Amendments for purposes connected with other tax law rewrite Acts (paragraphs 287–312)

Schedule 8 Part 12 makes consequential amendments to a range of earlier legislation so that cross-references point to the correct provisions in the rewritten tax Acts, including the Corporation Tax Act 2009, the Corporation Tax Act 2010, the Income Tax Act 2007, and the Income Tax (Trading and Other Income) Act 2005.

• References in the Solicitors (Northern Ireland) Order 1976, the Administration of Justice Act 1985, the Broadcasting Act 1996, the Greater London Authority Act 1999, ITEPA 2003, Finance Act 2004, Finance Act 2005, ITA 2007, and CTA 2009 are updated to cite the equivalent provisions in the new rewritten tax Acts instead of the old ones (such as ICTA 1988 and the former Schedule D Case I rules).
• Obsolete provisions in ICTA 1988 (section 59(3) and (4), dealing with the person answerable for tax on profits of markets, fairs, tolls, and fisheries) and in Finance Act 2005 (section 48B(6)–(8) and Schedule 2 paragraph 9, relating to alternative finance investment bonds) are repealed because their content has been rewritten elsewhere.
• A new overview section (section A1) is inserted before section 1 of the Corporation Tax Act 2009, listing the main Acts relating to corporation tax — CTA 2009, CTA 2010, and TCGA 1992 — together with a signpost to other important enactments such as those covering insurance companies, controlled foreign companies, tonnage tax, capital allowances, double taxation relief, transfer pricing, tax arbitrage, financing costs, and offshore funds.
• A transitional saving is added to CTA 2009 Schedule 2, paragraph 75, confirming that section 519(2) of CTA 2009 is treated as always having had effect for income tax or capital gains tax purposes in relation to disposals of investment bond arrangements made after 6 April 2007, regardless of when the arrangements were originally entered into.

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