Part 1 Income and Corporation Taxes Act 1988
Income Tax Act 2007 (2007 c 3) | Legislation

SCHEDULE 1 Minor and Consequential Amendments

Section 1027

Part 1 Income and Corporation Taxes Act 1988

1

The Income and Corporation Taxes Act 1988 (c 1) is amended as follows.

2

Omit sections 1 to 2 (the charge to income tax, application of lower rate to income from savings and distributions, rates of tax applicable to distribution income etc, and fractions of a pound and yearly assessments).

3

Omit section 3 (certain income charged at basic rate).

4

Omit section 4 (construction of references in Income Tax Acts to deduction of tax).

5

Omit section 7(1) (deduction of income tax from payments to companies).

6

(1)     Amend section 9 (computation of income: application of income tax principles) as follows.

(2)     In subsection (2)—

(a)     after “except that it does not include†insert “— (a)â€, and

(b)     after “subsection (1) above†insert “, or

(b)     ITA 2007â€.

(3)     In subsection (4) after “ITTOIA 2005†insert “and ITA 2007â€.

(4)     In subsection (6) omit the words from the beginning to “this Act; andâ€.

7

Omit section 42A (non-resident landlords and their representatives).

8

Omit sections 50, 51 and 51AA (United Kingdom securities: Treasury directions for

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