Finance Act 2003
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SCHEDULE 6 Miscellaneous Technical Amendments in Relation to Tax | ||
1. The Taxes Consolidation Act 1997 is amended in accordance with the following provisions: | ||
(a) in section 409C(3)(b), by inserting “under a passive investment scheme” after “transferee”, | ||
(b) in section 434— | ||
(i) in subsection (1) by deleting the definitions of “distributable income” and “trading income”, and | ||
(ii) in subsection (5)(a) by substituting the following for subparagraph (ii): | ||
“(ii) an amount determined by applying to the amount of the income of the company for the accounting period the fraction— | ||
A | ||
__ | ||
B | ||
where— | ||
A is the aggregate of the amounts of estate income and investment income taken into account in computing the income of the company for the accounting period, and | ||
B is the amount of the company's income before taking account of any amount specified in paragraphs (d) to (g) of subsection (4),”, | ||
(c) in section 440 by deleting subsection (2A), | ||
(d) in section 469(1), in the definition of “health expenses”, by substituting the following for paragraph (i): | ||
“(i) as respects a dependant of the individual referred to in paragraphs (a) and (b)(ii) of the definition of ‘dependant’ who for the year of assessment— | ||
(a) is under the age of 18 years, or | ||
(b) if over the age of 18 years, at the commencement of the year of assessment, is receiving full-time instruction at any university, college, school or other educational establishment, | ||
either or both— | ||
(i) educational psychological assessment carried out by an educational psychologist, and | ||
(ii) speech and language therapy carried out by a speech and language therapist;”, | ||
(e) in section 496(2)(a)(v), by substituting “€2,540” for “£2,000”, | ||
(f) in section 669B(3), by substituting “A is the amount of the qualifying expenditure incurred on the purchase of the milk quota,” for “A is the amount of the capital expenditure incurred on the purchase of the milk quota,”, | ||
(g) in section 784(2B)(b), by substituting “certificate of tax credits and standard rate cut-off point” for “certificate of tax free allowances”, | ||
(h) in Schedule 29, Column 3, by substituting “section 128(11) and (12)” for “section 128(11) and (11A)”. | ||
2. The Value-Added Tax Act 1972 is amended in paragraph (vi) of the First Schedule by substituting “Part VII or Part VIII of the Child Care Act 1991 ” for “Part VII of the Child Care Act 1991 ”. | ||
3. (a) As respects paragraph 1— | ||
(i) subparagraphs (a) and (e) shall be deemed to have come into force and take effect as on and from 1 January 2002, | ||
(ii) subparagraphs (b) and (c) shall be deemed to apply to accounting periods ending on or after 14 March 2001, | ||
(iii) subparagraphs (d) and (h) shall have effect as on and from the passing of this Act, | ||
(iv) subparagraph (f) shall be deemed to have come into force and take effect as on and from 1 November 2001, and | ||
(v) subparagraph (g) shall be deemed to have come into force and take effect as on and from 6 April 2001. | ||
(b) Paragraph 2 shall have effect as on and from the passing of this Act. |