Schedule 1: Minor and consequential amendments Part 1: Income and Corporation Taxes Act 1988.The charge to corporation tax
3404.See the commentary on Chapter 1 of Part 2 for an explanation of the charges to corporation tax in this Act. That Chapter deals with the charge to corporation tax on profits.
3405.The charge under section 2 is on amounts of income and on chargeable gains that together form the “profits pot”. The label “the charge to corporation tax on income” is explained in section 2(2). There are examples of consequential amendments expressed in these terms in the amendments to section 761(1) and section 776(3A) of ICTA.
3406.There are also consequential amendments to charges to an amount of corporation tax. These charges do not fall within the “profits pot” and are provisions of an administrative nature mainly recovering excessive relief. Two examples are the amendment to section 399(3) of ICTA and the amendment to paragraph 27(4) of Schedule 16 to FA 2002.
3407.References to Schedule D Case VI are removed in these consequential amendments: see the commentary on the amendment inserting section 834A of ICTA.