Corporation Tax – anomalies corrected
Legislation has been introduced to correct some anomalies that arose when the Corporation Tax Act 2009 (CTA) became law. It transpires that the CTA contained a number of minor errors which concerned one provision of TCGA 1992 and four provisions in the CTA.
The new legislation will have retrospective effect from the period on or after 1 April 2009, the date on which the CTA came into force.
The amendments made relate to:
- Paragraph 34 of Schedule 7AC to TCGA 1992
- Section 400(1)(a) of CTA 2009
- Section 459(1)(a) of CTA 2009
- Section 566(2) of CTA 2009
- Transitional provisions in relation to section 480 of CTA 2009
As the legislation is being introduced retrospectively there should be no period of time during which the law is unclear.