As stated at ¶701-250, for accounting periods ending on or after 1 April 2009 the charge to corporation tax is applied by reference to the heads of charge set out in the Corporation Tax Act 2009. For accounting periods ended on or before 31 March 2009, income was taxed by reference to the Schedules and Cases set out at ICTA 1988, Pt. 1, as summarised as follows:

Sch. A: tax on annual profits arising from a business carried on for the exploration, as a source of rents or other receipts, of any estate, interest or rights over land in the UK (ICTA 1988, s. 15(1), see ¶702-775); and

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