Part 2 Other Amendments of ITTOIA 2005
Finance Act 2022 (2022 c 3) | Legislation

Part 2 Other Amendments of ITTOIA 2005

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ITTOIA 2005 is amended as follows.

Part 2 (trading income)

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(1)     Section 17 (effect of becoming or ceasing to be a UK resident) is amended as follows.

(2)     In subsection (1), for “otherwise than in partnership†substitute “(alone or in partnership)â€.

(3)     Omit subsection (5).

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In section 47 (business gifts: exceptions), in subsection (3)(b), for “basis period†substitute “tax yearâ€.

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In section 133 (meaning of “relevant period†for purposes of Chapter 9), in paragraph (b) omit “the basis period forâ€.

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(1)     Section 154A (certain non-UK residents with interest on 3.5% War Loan 1952 Or After) is amended as follows.

(2)     In subsection (3)—

(a)     in Step 1, omit “the basis

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