Schedule 1: Consequential Amendments Part 1: Income and Corporation Taxes Act 1988 Paragraph 7: section 9 of ICTA
3344.This Act deals in substance with income tax only. As a result the income tax and corporation tax codes will be separated to a much greater extent than in the source legislation.
3345.Corporation tax law, in statute, is made up of a combination of express corporation tax provisions and applied income tax principles, law and practice.
3346.The income tax principles, law and practice are applied by section 9 of ICTA .
3347.Section 9 of ICTA, so far as it operates on statutory provisions, operates in the source legislation on both income tax provisions that are rewritten in this Act and income tax provisions that are not rewritten in this Act (for example, parts of ITEPA). It also extends to case law and practice.
3348.The amendments to section 9 of ICTA maintain this approach in the context of the greater separation of the two codes. But section 9 of ICTA does not operate on the provisions in this Act to convert them into provisions of the Corporation Tax Acts, see section 881.