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UK Tax Legislation
Bloomsbury Professional
Publication Date:
17 October 2023
Publisher:
Bloomsbury Professional
Copyright:
2023 Bloomsbury Professional
Law As Stated At:
17 October 2023
UK Tax Legislation
The full, consolidated text of the principal UK Tax Acts
Last updated: 17 October 2023
GO
Contents
Contents
Expand All
Collapse All
Close section
Capital Allowances Act 2001
Arrangement of Sections
Close section
Part 1: Introduction [ss.1-10]
Chapter 1: Capital allowances: general [ss.1-6]
Chapter 1A: Trades attracting Northern Ireland rate of corporation tax [ss.6A-6E]
Chapter 2: Exclusion of double relief [ss.7-10]
Close section
Part 2: Plant and machinery allowances [ss.11-270]
Chapter 1: Introduction [ss.11-14]
Chapter 2: Qualifying activities [ss.15-20]
Chapter 3: Qualifying expenditure [ss.1-38ZA]
Chapter 3A: AIA qualifying expenditure [ss.38A-38B]
Chapter 4: First-year qualifying expenditure [ss.39-51]
Chapter 5: Allowances and charges [ss.51A-66E]
Chapter 6: Hire-purchase etc. and plant or machinery provided by lessee [ss.67-70E]
Chapter 6A: Interpretation of provisions about long funding leases [ss.70F-70YJ]
Chapter 7: Computer software [ss.71-73]
Chapter 8: ... [ss.74-82]
Chapter 9: Short-life assets [ss.83-89]
Chapter 10: Long-life assets [ss.90-104]
Chapter 10A: Special rate expenditure [ss.104A-104G]
Chapter 11: Overseas leasing [ss.105-126]
Chapter 12: Ships [ss.127-158]
Chapter 13: Provisions affecting mining and oil industries [ss.159-171]
Chapter 14: Fixtures [ss.172-204]
Chapter 15: Asset provided or used only partly for qualifying activity [ss.205-208A]
Chapter 16: Partial depreciation subsidies [ss.209-212]
Chapter 16ZA: Asset provided or used only partly for NI rate activity [ss.212ZA-212ZF]
Chapter 16A: Restrictions on allowance buying [ss.212A-212S]
Chapter 16B: Cap on first-year allowances [ss.212T-212U]
Chapter 17: Other anti-avoidance [ss.213-233]
Chapter 18: Additional VAT liabilities and rebates [ss.234-246]
Chapter 19: Giving effect to allowances and charges [ss.247-262A]
Chapter 20: Supplementary provisions [ss.262AA-270]
Close section
Part 2A: Structures and Buildings Allowances [ss.270AA-270IH]
Chapter 1: Introduction [ss.270AA-270AB]
Chapter 2: Qualifying expenditure [ss.270BA-270BN]
Chapter 3: Qualifying use and qualifying activities [ss.270CA-270CG]
Chapter 4: The relevant interest in the building or structure [ss.270DA-270DE]
Chapter 5: Calculating the allowance: supplementary provision [ss.270EA-270EC]
Chapter 6: Highway undertakings [ss.270FA-270FC]
Chapter 7: Additional VAT liabilities and rebates [ss.270GA-270GC]
Chapter 7A: Adjustment for pre-April 2020 allowance [s.270GD]
Chapter 8: Giving effect to allowances [ss.270HA-270HI]
Chapter 9: Supplementary provisions [ss.270IA-270IH]
Close section
Part 3: ... [ss.271-360]
Chapter 1: ... [ss.271-273]
Chapter 2: ... [ss.274-285]
Chapter 3: ... [ss.286-291]
Chapter 4: ... [ss.292-304]
Chapter 5: ... [ss.305-308]
Chapter 6: ... [ss.309-313A]
Chapter 7: ... [ss.314-331]
Chapter 8: ... [ss.332-340]
Chapter 9: ... [ss.341-344]
Chapter 10: ... [ss.345-351]
Chapter 11: ... [ss.352-355]
Chapter 12: ... [ss.356-360]
Close section
Part 3A: Business premises renovation allowances [ss.360A-360Z4]
Chapter 1: Introduction [s.360A]
Chapter 2: Qualifying expenditure [ss.]360B-360BA
Chapter 3: Qualifying buildings and qualifying business premises [ss.360C-360D]
Chapter 4: The relevant interest in the qualifying building [ss.360E-360F]
Chapter 5: Initial allowances [ss.360G-360H]
Chapter 6: Writing-down allowances [ss.360I-360K]
Chapter 7: Grants in respect of qualifying expenditure [s.360L]
Chapter 8: Balancing adjustments [ss.360M-360P]
Chapter 9: Writing off qualifying expenditure
Chapter 10: Additional VAT liabilities and rebates
Chapter 11: Supplementary provisions [ss.360Z-360Z4]
Close section
Part 4: ... [ss.361-393]
Chapter 1: ... [ss.361-363]
Chapter 2: ... [ss.364-368]
Chapter 3: ... [ss.369-371]
Chapter 4: ... [ss.372-379]
Chapter 5: ... [ss.380-390]
Chapter 6: ... [ss.391-393]
Close section
Part 4A: ... [ss.393A-393W]
Chapter 1: ... [s.393A]
Chapter 2: ... [s.393B]
Chapter 3: ... [ss.393C-393E]
Chapter 4: ... [ss.393F-393G]
Chapter 5: ... [ss.393H-393I]
Chapter 6: ... [ss.393J-393L]
Chapter 7: ... [ss.393M-393P]
Chapter 8: ... [ss.393Q-393S]
Chapter 9: ... [ss.393T-393W]
Close section
Part 5: Mineral extraction allowances [ss.394-436]
Chapter 1: Introduction [ss.394-399]
Chapter 2: Qualifying expenditure on mineral exploration and access [ss.400-402]
Chapter 3: Qualifying expenditure on acquiring a mineral asset [ss.403-406]
Chapter 4: Qualifying expenditure: second-hand assets [ss.407-413]
Chapter 5: Other kinds of qualifying expenditure [ss.414-416ZE]
Chapter 5A: First-year qualifying expenditure [ss.416A-416C]
Chapter 6: Allowances and charges [ss.416D-431C]
Chapter 7: Supplementary provisions [ss.432-436]
Close section
Part 6: Research and development allowances [ss.437-451]
Chapter 1: Introduction [ss.437-438]
Chapter 2: Qualifying expenditure [ss.439-440]
Chapter 3: Allowances and charges [ss.441-445]
Chapter 4: Additional VAT liabilities and rebates [ss.446-449]
Chapter 5: Supplementary provisions [ss.450-451]
Close section
Part 7: Know-how allowances [ss.452-463]
Chapter 1: Introduction [ss.452-453]
Chapter 2: Qualifying expenditure [ss.454-455]
Chapter 3: Allowances and charges [ss.456-463]
Close section
Part 8: Patent allowances [ss.464-483]
Chapter 1: Introduction [ss.464-466]
Chapter 2: Qualifying expenditure [ss.467-469]
Chapter 3: Allowances and charges [ss.470-477]
Chapter 4: Giving effect to allowances and charges [ss.478-480]
Chapter 5: Supplementary provisions [ss.481-483]
Close section
Part 9: Dredging allowances [ss.484-489]
Qualifying expenditure on dredging, etc.
Writing-down and balancing allowances
Giving effect to allowances
Close section
Part 10: Assured tenancy allowances [ss.490-531]
Chapter 1: Introduction [ss.490-493]
Chapter 2: The relevant interest [ss.494-500]
Chapter 3: Qualifying expenditure [ss.501-503]
Chapter 4: Qualifying dwelling-houses [ss.504-506]
Chapter 5: Writing-down allowances [ss.507-512]
Chapter 6: Balancing adjustments [ss.513-522]
Chapter 7: Writing off qualifying expenditure attributable to dwelling-house [ss.523-528]
Chapter 8: Supplementary provisions [ss.529-531]
Close section
Part 11: Contributions [ss.532-543]
Chapter 1: Exclusion of expenditure met by contributions [ss.532-536]
Chapter 2: Contribution allowances [ss.537-543]
Close section
Part 12: Supplementary provisions [ss.544-581]
Chapter 1: Long-term business [ss.544-545]
Chapter 2: Additional VAT liabilities and rebates: interpretation, etc. [ss.546-551]
Chapter 3: Disposals of oil licences: provisions relating to Parts 5 and 6 [ss.552-556]
Chapter 4: Partnerships, successions and transfers [ss.557-561A]
Chapter 5: Miscellaneous [ss.562-570A]
Chapter 6: Final provisions [ss.570B-581]
Schedule A1: ...
Close section
Schedule 1: Abbreviations and defined expressions
Part 1 : Abbreviations
Part 2 : Defined expressions
Close section
Schedule 2: Consequential amendments
The Taxes Management Act 1970 (c. 9)
Section 42 (procedure for making claims etc.)
Section 57 (regulations about appeals)
Section 58 (proceedings in tax cases in Northern Ireland)
Section 98 (special returns, etc.)
...
Section 137 (expenditure met by regional development plans to be disregarded for certain purposes)
Schedule 5 (transitional provisions and savings)
Section 6 (certification of films as British films)
Schedule 1 (certification of films as British films)
Schedule 2 (taxation)
...
...
Section 65A (Case V income from land outside UK: income tax)
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
Section 384 (restrictions on right of set-off)
...
...
...
...
...
...
...
...
...
Sections 434D and 434E (capital allowances: management assets; investment assets)
...
...
...
...
Sections 520 to 523 (patents)
...
...
Section 530 (disposal of know-how)
....
...
...
...
...
...
...
...
...
...
...
Section 831 (interpretation of Act)
...
Section 834 (interpretation of the Corporation Tax Acts)
...
...
Schedule 19AC (modification of Act in relation to overseas life insurance companies)
Schedule 21 (tax relief in connection with schemes for rationalising industry and other redundancy schemes)
Schedule 24 (assumptions for calculating chargeable profits, creditable tax and corresponding United Kingdom tax of foreign companies)
...
...
Schedule 12 (building societies: change of status)
...
Schedule 11 (taxation provisions)
...
...
Section 78 (sharing of transmission facilities)
Schedule 2 (levy of Class 4 contributions with income tax)
Schedule 2 (levy of Class 4 contributions with income tax)
Section 37 (consideration chargeable to tax on income)
Section 41 (restriction of losses by reference to capital allowances etc.)
Section 195 (allowance of certain drilling expenditure)
Section 288 (interpretation)
Schedule 3 (assets held on 31st March 1982)
New sections 40A to 40D (films)
Section 41 (relief for preliminary expenditure)
Section 42 (relief for production or acquisition expenditure)
Section 43 (interpretation of sections 41 and 42)
...
Schedule 17 (Northern Ireland electricity)
...
...
Schedule 2 (provisions relating to carrying out approved schemes or reorganisation)
Schedule 24 (provisions relating to the Railways Act 1993)
Schedule 25 (Northern Ireland Airports Limited)
Schedule 4 (taxation provisions)
Schedule 3 (taxation provisions)
Section 151 (benefits under pilot schemes)
...
Schedule 7 (transfer schemes relating to BBC transmission network: taxation provisions)
...
Section 48 (films: relief for production or acquisition expenditure)
Section 117 (company tax returns, assessments and related matters)
...
...
Schedule 18 (company tax returns, assessments and related matters)
...
Schedule 33 (taxation)
Section 105 (corporation tax: use of currencies other than sterling)
....
Schedule 22 (tonnage tax)
Schedule 26 (transfers: tax)
Close section
Schedule 3: Transitionals and savings
Part 1: Continuity of the law
Part 2: Changes in the law
Part 3: General
Part 4: Plant and machinery allowances
Part 5: ...
Part 6: ...
Part 7: Mineral extraction allowances
Part 8: Research and development allowances
Part 9: Patent allowances
Part 10: Dredging allowances
Part 11: Contributions
Part 12: Supplemental
Part 13: Other enactments
Schedule 4: Repeals
Close section
Corporation Tax Act 2009
Arrangement of Sections
Close section
Part 1: Introduction [ss.A1-1]
A1: Overview of the Corporation Tax Acts
1: Overview of Act
Close section
Part 2: Charge to corporation tax: basic provisions [ss.2-33]
Chapter 1: The charge to corporation tax [ss.2-8]
Chapter 2: Accounting periods [ss.9-12]
Chapter 3: Company residence [ss.13-18]
Chapter 3A: UK resident companies: profits of foreign permanent establishments [ss.18A-18S]
Chapter 4: Non-UK resident companies: chargeable profits [ss.19-32]
Chapter 5: Supplementary [s.33]
Close section
Part 3: Trading income [ss.34-201]
Chapter 1: Introduction [s.34]
Chapter 2: Income taxed as trade profits [ss.35-45]
Chapter 3: Trade profits: basic rules [ss.46-52]
Chapter 4: Trade profits: rules restricting deductions [ss.53-60A]
Chapter 5: Trade profits: rules allowing deductions [ss.61-92A]
Chapter 6: Trade profits: receipts [ss.93-104]
Close section
Chapter 6A: Trade profits: R&D expenditure credits [ss.104A-104Y]
Claims for credits
SMEs: qualifying expenditure on sub-contracted R&D
SMEs: subsidised qualifying expenditure
SMEs: capped R&D expenditure
Large companies: qualifying R&D expenditure
Amount of credit
Payment of credit
Insurance companies
Group companies
Ineligible companies
Anti-avoidance
Interpretation
Chapter 7: Trade profits: gifts to charities etc [ss.105-108]
Chapter 8: Trade profits: herd basis rules [ss.109-127]
Chapter 8A: Compensation for compulsory slaughter of animals [ss.127A-127G]
Chapter 9: Trade profits: other specific trades [ss.128-155]
Chapter 10: Trade profits: changes in trading stock [ss.156-161]
Chapter 11: Trade profits: valuation of stock on cessation of trade [ss.162-171]
Chapter 12: Deductions from profits: unremittable amounts [ss.172-175]
Chapter 13: Disposal and acquisition of know-how [ss.176-179]
Chapter 14: Adjustment on change of basis [ss.180-187]
Chapter 15: Post-cessation receipts [ss.188-200]
Chapter 16: Priority rules [ss.201]
Close section
Part 4: Property income [ss.202-291]
Chapter 1: Introduction [s.202]
Chapter 2: Property businesses [ss.203-208]
Chapter 3: Profits of property businesses: basic rules [ss.209-214]
Chapter 4: Profits of property businesses: lease premiums etc [ss.215-247]
Chapter 5: Profits of property businesses: other rules about receipts and deductions [ss.248-263]
Chapter 6: Commercial letting of furnished holiday accommodation [ss.264-269A]
Chapter 7: Rent receivable in connection with a UK section 39(4) concern [ss.270-276]
Chapter 8: Rent receivable for UK electric-line wayleaves [ss.277-279]
Chapter 9: Post-cessation receipts [ss.280-286]
Chapter 10: Supplementary [ss.287-291]
Close section
Part 5: Loan Relationships [ss.292-476]
Chapter 1: Introduction [ss.292-301]
Chapter 2: Basic definitions [ss.302-305]
Chapter 3: The credits and debits to be brought into account: general [ss.306-334]
Chapter 4: Continuity of treatment on transfers within groups or on reorganisations [ss.335-347]
Chapter 5: Connected companies relationships: introduction and general [ss.348-352A]
Chapter 6: Connected companies relationships: impairment losses and releases of debts [ss.353-363A]
Chapter 7: Group relief claims involving impaired or released consortium debts [ss.364-371]
Chapter 8: Connected parties relationships: late interest [ss.372-379]
Chapter 9: Partnerships involving companies [ss.380-385]
Chapter 10: Insurance companies [ss.386-394]
Chapter 11: Other special kinds of company [ss.395-397]
Chapter 12: Special rules for particular kinds of securities [ss.398-420]
Chapter 13: European cross-border transfers of business [ss.421-430]
Chapter 14: European cross-border mergers [ss.431-439]
Chapter 15: Tax avoidance [ss.440-455D]
Chapter 16: Non-trading deficits: pre-1 April 2017 deficits and charities [ss.456-463]
Chapter 16A: Non-trading deficits: post 1 April 2017 deficits [ss.463A-463I]
Chapter 17: Priority rules [ss.464-465]
Chapter 18: General and supplementary provisions [ss.465A-476]
Close section
Part 6: Relationships treated as loan relationships etc [ss.477-569]
Chapter 1: Introduction [s.477]
Chapter 2: Relevant non-lending relationships [ss.478-486]
Chapter 2A: Disguised interest [ss.486A-486E]
Chapter 2B: Transferred income streams [ss.486F-486G]
Chapter 3: OEICs, unit trusts and offshore funds [ss.487-497]
Chapter 4: Building Societies [s.498]
Chapter 5: Industrial and provident societies [ss.499-500]
Chapter 6: Alternative finance arrangements [ss.501-521]
Chapter 6A: Shares accounted for as liabilities [ss.521A-521F]
Chapter 7: … [ss.522-535]
Chapter 8: … [ss.536-538]
Chapter 9: Manufactured interest etc [ss.539-541]
Chapter 10: Repos [ss.542-559]
Chapter 11: Investment life insurance contracts [ss.560-569]
Close section
Part 7: Derivative contracts [ss.570-710]
Chapter 1: Introduction [ss.570-574]
Chapter 2: Contracts to which this Part applies [ss.575-593]
Chapter 3: Credits and debits to be brought into account: general [ss.594-611]
Chapter 4: Further provision about credits and debits to be brought into account [ss.612-623]
Chapter 5: Continuity of treatment on transfers within groups [ss.624-632]
Chapter 6: Special kinds of company [ss.633-638]
Chapter 7: Chargeable gains arising in relation to derivative contracts [ss.639-659]
Chapter 8: Further provision about chargeable gains and derivative contracts [ss.660-673]
Chapter 9: European cross-border transfers of business [ss.674-681]
Chapter 10: European cross-border mergers [ss.682-688]
Chapter 11: Tax avoidance [ss.689-698D]
Chapter 12: Priority rules [ss.699-700]
Chapter 13: General and supplementary provisions [ss.701-710]
Close section
Part 8: Intangible fixed assets [ss.711-906]
Chapter 1: Introduction [ss.711-719]
Chapter 2: Credits in respect of intangible fixed assets [ss.720-725]
Chapter 3: Debits in respect of intangible fixed assets [ss.726-732]
Chapter 4: Realisation of intangible fixed assets [ss.733-741]
Chapter 5: Calculation of tax written-down value [ss.742-744]
Chapter 6: How credits and debits are given effect [ss.745-753]
Chapter 7: Roll-over relief in case of realisation and reinvestment [ss.754-763]
Chapter 8: Groups of companies: introduction [ss.764-773]
Chapter 9: Application of this Part to groups of companies [ss.774-799]
Chapter 10: Excluded assets [ss.800-816A]
Chapter 11: Transfer of business or trade [ss.817-833]
Chapter 12: Related parties [ss.834-843]
Chapter 13: Transactions between related parties [ss.844-851]
Chapter 14: Miscellaneous provisions [ss.852-870]
Close section
Part 9: Intellectual property: know-how and patents [ss.907-931]
Chapter 1: Introduction [s.907]
Chapter 2: Disposals of know-how [ss.908-910]
Chapter 3: Sales of patent rights [ss.911-923]
Chapter 4: Relief from corporation tax on patent income [ss.924-925]
Chapter 5: Supplementary [ss.926-931]
Close section
Part 9A: Company distributions [ss.931A-931W]
Chapter 1: The charge to tax [s.931A]
Chapter 2: Exemption of distributions received by small companies [ss.931B-931C]
Chapter 3: Exemption of distributions received by companies that are not small [ss.931D-931Q]
Chapter 4: Supplementary [ss.931R-931W]
Close section
Part 10: Miscellaneous income [ss.932-982]
Chapter 1: Introduction [s.932]
Chapter 2: … [ss.933]
Chapter 3: Beneficiaries' income from estates in administration [ss.934-968]
Chapter 4: Income from holding an office [ss.969-970]
Chapter 5: … [ss.971-973]
Chapter 6: Sale of foreign dividend coupons [ss.974-975]
Chapter 7: Annual payments not otherwise charged [ss.976-978]
Chapter 8: Income not otherwise charged [ss.979-981]
Chapter 9: Priority rules [s.982]
Close section
Part 11: Relief for particular employee share acquisition schemes [ss.983-1000]
Chapter 1: Share incentive plans
Chapter 2: SAYE option schemes, company share option schemes and employee share options trusts
Close section
Part 12: Other relief for employee share acquisitions [ss.1001-1038B]
Chapter 1: Introduction [ss.1001-1005]
Chapter 2: Relief if shares acquired by employee or other person [ss.1006-1013]
Chapter 3: Relief if employee or other person obtains option to acquire shares [ss.1014-1024]
Chapter 4: Additional relief in cases involving restricted shares [ss.1025-1029]
Chapter 5: Additional relief in cases involving convertible securities [ss.1030-1036]
Chapter 6: Relationship between relief under this Part and other reliefs ETC [ss.1037-1038B]
Close section
Part 13: Additional relief for expenditure on research and development [ss.1039-1142]
Chapter 1: Introduction [ss.1039-1042]
Chapter 2: Relief for SMEs: cost of R&D incurred by SME [ss.1043-1062]
Chapter 3: … [ss.1063-1067]
Chapter 4: … [ss.1068-1073]
Chapter 5: … [ss.1074-1080]
Chapter 6: Chapters 2 to 5: further provision [ss.1081-1084]
Chapter 7: … [ss.1085-1112]
Chapter 8: Cap on aid for R&D [ss.1113-1118]
Chapter 9: Supplementary [ss.1119-1142]
Close section
Part 14: Remediation of contaminated or derelict land [ss.1143-1179]
Chapter 1: Introduction [ss.1143-1146A]
Chapter 2: Reliefs for expenditure on contaminated or derelict land [ss.1147-1150]
Chapter 3: Land remediation tax credit [ss.1151-1158]
Chapter 4: Special provision for BLAGAB [ss.1159-1168]
Chapter 5: Tax avoidance [s.1169]
Chapter 6: Supplementary [ss.1170-1179]
Close section
Part 15: Film production [ss.1180-1216]
Chapter 1: Introduction [ss.1180-1187]
Chapter 2: Taxation of activities of film production company [ss.1188-1194]
Chapter 3: Film tax relief [ss.1195-1207]
Chapter 4: Film losses [ss.1208-1211]
Chapter 5: Provisional entitlement to relief [ss.1212-1216]
Close section
Part 15A: Television production [ss.1216A-1216EC]
Chapter 1: Introduction [ss.1216A-1216AJ]
Chapter 2: Taxation of activities of television production company [ss.1216B-1216BF]
Chapter 3: Television tax relief [ss.1216C-1216CN]
Chapter 4: Programme losses [ss.1216D-1216DC]
Chapter 5: Provisional entitlement to relief [ss.1216E-1216EC]
Close section
Part 15B: Video games development [ss.1217A-1217EC]
Chapter 1: Introduction [ss.1217A-1217AF]
Chapter 2: Taxation of activities of video games development company [ss.1217B-1217BE]
Chapter 3: Video games tax relief [ss.1217C-1217CN]
Chapter 4: Video game losses [ss.1217D-1217DC]
Chapter 5: Provisional entitlement to relief [ss.1217E-1217EC]
Close section
Part 15C: Theatrical Productions [ss.1217F-1217OB]
Introduction [ss.1217F-1217FC]
Companies qualifying for relief [ss.1217G-1217GC]
Claim for additional deduction [s.1217H]
The separate theatrical trade [ss.1217I-1217IF]
Amount of additional deduction [ss.1217J-1217JA]
Theatre tax credits [ss.1217K-1217KC]
Anti-avoidance etc [ss.1217LA-1217LB]
Use of losses [ss.1217M-1217MC]
Provisional entitlement to relief [ss.1217N-1217NA]
Interpretation [ss.1217O-1217OB]
Close section
Part 15D: Orchestra tax relief [ss.1217P-1217U]
Chapter 1: Introduction [ss.1217P-1217PB]
Chapter 2: Taxation of activities of production company [ss.1217Q-1217QG]
Chapter 3: Orchestra tax relief [ss.1217R-1217RM]
Chapter 4: Losses of separate orchestral trade [ss.1217S-1217SC]
Chapter 5: Provisional entitlement to relief [ss.1217T-1217TA]
Chapter 6: Interpretation [ss.1217U]
Close section
Part 15E: Museums and galleries exhibition tax relief [ss.1218ZA-1218ZFA]
Chapter 1: Introduction [ss.1218ZA-1218ZAD]
Chapter 2: Taxation of activities of production company [ss.1218ZB-1218ZBF]
Chapter 3: Museums and galleries exhibition tax relief [ss.1218ZC-1218ZCN]
Chapter 4: Losses of separate exhibition trade [ss.1218ZD-1218ZDC]
Chapter 5: Provisional entitlement to relief [ss.1218ZE, 1218ZEA]
Chapter 6: Interpretation [ss.1218ZF, 1218ZFA]
Close section
Part 16: Companies with investment business [ss.1217-1255]
Chapter 1: Introduction [ss.1218A-1218B]
Chapter 2: Management expenses [ss.1219-1231]
Chapter 3: Amounts treated as expenses of management [ss.1232-1246]
Chapter 4: Rules restricting deductions [ss.1247-1251]
Chapter 5: Companies with investment business: receipts [ss.1252-1254]
Chapter 6: Supplementary [s.1255]
Close section
Part 17: Partnerships [ss.1256-1273A]
Introduction
Calculation of partners' shares
Miscellaneous
Close section
Part 18: Unremittable income [ss.1274-1278]
1274: Unremittable income: introduction
1275: Claim for relief for unremittable income
1276: Withdrawal of relief
1277: Income charged on withdrawal of relief after source ceases
1278: Valuing unremittable income
Close section
Part 19: General exemptions [ss.1279-1287]
Profits from FOTRA securities
Income from savings certificates
Miscellaneous
Close section
Part 20: General calculation rules [ss.1288-1309]
Chapter 1: Restriction of deductions [ss.1288-1305A]
Chapter 2: Other general rules [ss.1306-1309]
Close section
Part 21: Other general provisions [ss.1310-1330]
Orders and regulations
…
Interpretation
Final provisions
Close section
Schedule 1: Minor and consequential amendments
Part 1: Income and Corporation Taxes Act 1988
Part 2: Other enactments
Close section
Schedule 2: Transitionals and savings
Part 1: General provisions
Part 2: Changes in the law
Part 3: Charge to corporation tax on income
Part 4: Accounting periods
Part 5: Company residence: exceptions to section 14
Part 6: Trading income
Part 7: Property income
Part 8: Loan relationships
Part 9: Relationships treated as loan relationships
Part 10: Derivative contracts
Part 11: Intangible fixed assets
Part 12: Beneficiaries' income from estates in administration
Part 13: Relief for share incentive plans
Part 14: Other relief for employee share acquisitions
Part 15: Research and development
Part 16: Remediation of contaminated land
Part 17: Film production
Part 18: Management expenses
Part 19: Unremittable income
Part 20: General exemptions
Part 21: Other provisions
Close section
Schedule 3: Repeals and revocations
Part 1: Repeals and revocations on 1 April 2009
Part 2: …
Schedule 4: Index of defined expressions
Close section
Corporation Tax Act 2010
Arrangement of Sections
Close section
Part 1: Introduction [s.1]
1: Overview of Act
Close section
Part 2: Calculation of liability in respect of profits [ss.2-17]
Chapter 1: Introduction [s.2]
Chapter 2: Rates at which corporation tax on profits charged [s.3]
Chapter 3: Calculation of amount to which rates applied [s.4]
Chapter 4: Currency [ss.5-17]
Close section
Part 3: ... [ss.18-34]
...
...
...
...
Close section
Part 3A: Companies with small profits [ss.18A-18N]
The standard small profits rate for non-ring fence profits
Marginal relief
The lower limit and the upper limit
Supplementary
Close section
Part 4: Loss relief [ss.35-96]
Chapter 1: Introduction [s.35]
Chapter 2: Trade losses [ss.36-54]
Chapter 3: Limited partners and members of limited liability partnerships [ss.55-61]
Chapter 4: Property losses [ss.62-67B]
Chapter 5: Losses on disposal of shares [ss.68-90]
Chapter 6: Losses from miscellaneous transactions [ss.91]
Chapter 7: Write-off of government investment [ss.92-96]
Close section
Part 5: Group relief [ss.97-188]
Chapter 1: Introduction [s.97]
Chapter 2: Surrender of company's losses etc for an accounting period [ss.98-110]
Chapter 3: ... [ss.111-128]
Chapter 4: Claims for group relief [ss.129-149]
Chapter 5: Subsidiaries, groups and consortiums [ss.150-156]
Chapter 6: Equity holders and profits or assets available for distribution [ss.157-182]
Chapter 7: Miscellaneous provisions and interpretation of Part [ss.183-188]
Close section
Part 5A: Group relief for carried-forward losses [ss.188AA-188FD]
Chapter 1: Introduction [s.188AA]
Chapter 2: Surrender of company's carried-forward losses etc [ss.188BA-188BJ]
Chapter 3: Claims for group relief for carried-forward losses [ss.188CA-188CK]
Chapter 4: Limitations on relief: claims under section 188CB [ss.188DA-188DL]
Chapter 5: Limitations on relief: claims under section 188CC [ss.188EA-188EK]
Chapter 6: Miscellaneous provisions and interpretation of Part [ss.188FA-188FD]
Close section
Part 6: Charitable donations relief [ss.189-217]
Chapter 1: Nature of relief [ss.189-190]
Chapter 2: Certain payments to charity [ss.191-202A]
Chapter 2A: Payments to community amateur sports clubs: anti-abuse [ss.202B-202C]
Chapter 3: Certain disposals to charity [ss.203-217]
Close section
Part 6A: Relief for expenditure on grassroots sport
217A: Relief for expenditure on grassroots sport
217B: Meaning of qualifying expenditure on grassroots sport
217C: Meaning of qualifying sport body
217D: Relationship between this Part and Part 6
Close section
Part 7: Community investment tax relief [ss.218-269]
Chapter 1: Introduction [ss.218-224]
Chapter 2: Qualifying investments [ss.225-230]
Chapter 3: General conditions [ss.231-235]
Chapter 4: Limitations on claims and attribution [ss.236-241]
Chapter 5: Withdrawal or reduction of CITR [ss.242-255]
Chapter 6: Supplementary and general [ss.256-269]
Close section
Part 7ZA: Restrictions on obtaining certain deductions [ss.269ZA-269ZZB]
Introduction
Restrictions on obtaining certain deductions
Relevant profits
Modifications for certain insurance companies
Exclusion for certain general insurance companies
Deductions allowance
Close section
Part 7A: Banking companies [ss.269A-269DO]
Chapter 1: Introduction [s.269A]
Chapter 2: Key definitions [ss.269B-269BE]
Chapter 3: Restrictions on obtaining certain deductions [ss.269C-269CN]
Chapter 4: Surcharge on banking companies [ss.269D-269DO]
Close section
Part 8: Oil activities [ss.270-356JNB]
Chapter 1: Introduction
Chapter 2: Basic definitions [ss.271-278]
Chapter 3: Deemed separate trade [s.279]
Chapter 3A: Rates at which corporation tax is charged on ring fence profits [ss.279A-279H]
Chapter 4: Calculation of profits [ss.280-306]
Chapter 5: Ring fence expenditure supplement [ss.307-329]
Chapter 5A: ... [ss.329A-329T]
Chapter 6: Supplementary charge in respect of ring fence trades [ss.330-332]
Chapter 6A: Supplementary charge: investment allowance [ss.332A-332KA]
Chapter 7: ... [ss.333-356AA]
Chapter 8: Supplementary charge: onshore allowance [ss.356B-356JB]
Chapter 9: Supplementary charge: cluster area allowance [ss.356JC-356JNB]
Close section
Part 8ZA: Oil contractors [ss.356K-356NG]
Chapter 1: Introduction [s.356K]
Chapter 2: Basic definitions [ss.356L-356LD]
Chapter 3: Deemed separate trade [s.356M]
Chapter 4: Calculation of profits [ss.356N-356NG]
Close section
Part 8ZB: Transactions in UK land [ss.356OA-356OT]
Introduction
Amounts treated as profits of a trade
Person to whom profits attributed
Anti-fragmentation
Calculation of profit or gain on disposal
Arrangements for avoiding tax
Exemption
Other supplementary provisions
Interpretation
Close section
Part 8A: Profits arising from the exploitation of patents etc [ss.357A-357GE]
Chapter 1: Reduced corporation tax rate for profits from patents etc [s.357A]
Chapter 2: Qualifying Companies [ss.357B-357BE]
Chapter 2A: Relevant IP profits: cases mentioned in section 357A(6) [ss.357BF-357BNC]
Chapter 2B: Relevant IP profits: cases mentioned in section 357A(7): income from new IP [ss.357BO-357BQ]
Chapter 3: Relevant IP profits: cases mentioned in section 357A(7): no income from new IP [ss.357C-357CQ]
Chapter 4: Streaming [ss.357D-357DC]
Chapter 5: Relevant IP losses [ss.357E-357EF]
Chapter 6: Anti-avoidance [ss.357F-357FB]
Chapter 7: Supplementary [ss.357G-357GE]
Close section
Part 8B: Trading profits taxable at the Northern Ireland rate [ss.357H-357XI]
Chapter 1: Introductory [s.357H]
Chapter 2: The Northern Ireland rate [ss.357I-357IA]
Chapter 3: Northern Ireland rate applied to Northern Ireland profits and losses [ss.357J-357JJ]
Chapter 4: Basic definitions [ss.357K-357KE]
Chapter 5: Northern Ireland regional establishments [ss.357L-357LK]
Chapter 6: Northern Ireland profits and losses etc: SMEs that are Northern Ireland employers [ss.357M-357MB]
Chapter 7: Northern Ireland profits and losses etc: SMEs that are not Northern Ireland employers and large companies [ss.357N-357NK]
Chapter 8: Intangible fixed assets [ss.357O-357OP]
Chapter 9: Research and development expenditure [ss.357P-357PF]
Chapter 10: Remediation of contaminated or derelict land [ss.357Q-357QD]
Chapter 11: Film tax relief [ss.357R-357RH]
Chapter 12: Television production [ss.357S-357SH]
Chapter 13: Video games development [ss.357T-357TH]
Chapter 14: Theatrical productions [ss.357U-357UI]
Chapter 14A: Orchestra tax relief [ss.357UJ-357UQ]
Chapter 14B: Museums and galleries exhibition tax relief [ss.357UR?57UY]
Chapter 15: Profits arising from the exploitation of patents etc [ss.357V-357VE]
Chapter 16: Northern Ireland profits and losses etc: partnerships [ss.357W-357WH]
Chapter 17: Excluded trades, excluded activities and back-office activities [ss.357X-357XI]
Close section
Part 8C: Restitution interest [ss.357YA-357YW]
Chapter 1: Amounts taxed as restitution interest [ss.357YA-357YJ]
Chapter 2: Application of restitution payments rate [ss.357YK-357YL]
Chapter 3: Migration, transfers of rights etc [ss.357YM-357YN]
Chapter 4: Payment and collection of tax on restitution interest [ss.357YO-357YT]
Chapter 5: Supplementary provisions [ss.357YU-357YW]
Close section
Part 9: Leasing plant or machinery [ss.358-437C]
Chapter 1: Introduction [s.358]
Chapter 2: Long funding leases of plant or machinery [ss.359-381]
Chapter 3: Sales of lessors: leasing business carried on by a company alone [ss.382-408]
Chapter 4: Sales of lessors: leasing business carried on by a company in partnership [ss.409-431]
Chapter 5: Sales of lessors: anti-avoidance provisions [ss.432-436]
Chapter 6: Sales of lessors: general interpretation [ss.437-437C]
Close section
Part 10: Close companies [ss.438-465]
Chapter 1: Overview of Part [s.438]
Chapter 2: Basic definitions [ss.439-454]
Chapter 3: Charge to tax in case of loan to participator [ss.455-464]
Chapter 3A: Charge to tax: other arrangements [ss.464A-464B]
Chapter 3B: Repayments and return payments [ss.464C-464D]
Chapter 4: Power to obtain information [s.465]
Close section
Part 11: Charitable companies etc [ss.466-517]
Chapter 1: Introduction [ss.466-470]
Chapter 2: Gifts and other payments [ss.471-477A]
Chapter 3: Other exemptions [ss.478-491A]
Chapter 4: Restrictions on exemptions [ss.492-517]
Close section
Part 12: Real Estate Investment Trusts [ss.518-609]
Chapter 1: Introduction [ss.518-522]
Chapter 2: Requirements for being a UK REIT [ss.523-533]
Chapter 3: Tax treatment of profits and gains of UK REITs [ss.534-535]
Chapter 4: Entering the UK REIT regime [ss.536-540]
Chapter 5: Assets etc [ss.541-547]
Chapter 6: Distributions [ss.548-554A]
Chapter 7: Gains etc [ss.555-560]
Chapter 8: Breach of conditions in Chapter 2 [ss.561-569]
Chapter 9: Leaving the UK REIT regime [ss.570-582]
Chapter 10: Joint ventures [ss.583-598]
Chapter 11: Part 12: supplementary [ss.599-609]
Close section
Part 13: Other special types of company etc [ss.610-671]
Chapter 1: Corporate beneficiaries under trusts [ss.610-611]
Chapter 2: Authorised investment funds [ss.612-620]
Chapter 3: ... [ss.621-622]
Chapter 3A: Investment trusts [s.622A]
Chapter 4: Securitisation companies [ss.623-625]
Chapter 5: Companies in liquidation or administration [ss.626-633]
Chapter 6: Banks etc in compulsory liquidation [ss.634-641]
Chapter 7: Co-operative housing associations [ss.642-649]
Chapter 8: Self-build societies [ss.650-657]
Chapter 9: Community amateur sports clubs [ss.658-671]
Close section
Part 14: Change in company ownership [ss.672-730]
Chapter 1: Introduction [s.672]
Chapter 2: Disallowance of trading losses [ss.673-676]
Chapter 2A: Post-1 April 2017 losses: Further cases involving a change in the company's activities [ss.676AA-676AL]
Chapter 2B: Asset transferred within group: restriction of relief for post-1 April trade losses [ss.676BA-676BE]
Chapter 2C: Disallowance of group relief for carried-forward losses: general provision [ss.676CA-676CI]
Chapter 2D: Asset transferred within group: Restriction of group relief for carried-forward losses [ss676DA-676DE]
Chapter 2E: Post-1 April 2017 trade losses: cases involving the transfer of a trade [ss.676EA-676EE]
Chapter 3: Company with investment business: restrictions on relief: general provision [ss.677-691]
Chapter 4: Company with investment business: restrictions on relief: asset transferred within group [ss.692-703]
Chapter 5: Company without investment business: disallowance of property losses [ss.704-705]
Chapter 5A: Shell companies: restrictions on relief [ss.705A-705G]
Chapter 6: Recovery of unpaid corporation tax [ss.706-718]
Chapter 7: Meaning of "change in the ownership of a company" [ss.719-726]
Chapter 8: Supplementary provision [ss.727-730]
Close section
Part 14A: Transfer of deductions [ss.730A-730D]
730A: Overview
730B: Interpretation of Part
730C: Disallowance of deductible amounts: relevant claims
730D: Disallowance of deductible amounts: profit transfers
Close section
Part 14B: Tax avoidance involving carried-forward losses [ss.730E-730H]
730E: Overview
730F: Meaning of "relevant carried-forward loss"
730G: Disallowance of deductions for relevant carried-forward losses
730H: Interpretation of section 730G
Close section
Part 15: Transactions in securities [ss.731-751]
Introduction
Company liable to counteraction of corporation tax advantage
Circumstances in which corporation tax advantages obtained or obtainable
Procedure for counteraction of corporation tax advantages
Clearance procedure
Appeals
Interpretation
Close section
Part 16: Factoring of income etc [ss.752-779B]
Chapter 1: Transfers of income streams
Chapter 1A: Disposals of income streams through partnerships
Chapter 2: Finance arrangements
Chapter 3: Loan or credit transactions
Chapter 4: Disposals of assets through partnerships
Close section
Part 17: ... [ss.780-814]
Chapter 1: ... [ss.780-781]
Chapter 2: ... [ss.782-789]
Chapter 3: ... [ss.790-795]
Chapter 4: ... [ss.796-804]
Chapter 5: ... [ss.805-812]
Chapter 6: ... [ss.813-814]
Close section
Part 17A: Manufactured dividends [ss.814A-814D]
814A: Overview of Part
814B: Key definitions
814C: Treatment of payer of manufactured dividend
814D: Treatment of recipient of manufactured dividend
Close section
Part 18: Transactions in land [ss.815-833]
...
...
...
...
...
...
...
Close section
Part 19: Sale and lease-back etc [ss.834-886]
Chapter 1: Payments connected with transferred land [ss.834-848]
Chapter 2: New lease of land after assignment or surrender [ss.849-862]
Chapter 3: Leased trading assets [ss.863-869]
Chapter 4: Leased assets: capital sums [ss.870-886]
Close section
Part 20: Tax avoidance involving leasing plant or machinery [ss.887-894A]
Chapter 1: Restrictions on use of losses in leasing partnerships [ss.887-889]
Chapter 2: Capital payments in respect of leases treated as income [ss.890-894]
Chapter 3: Consideration for taking over payment obligations as lessee treated as income [s.894A]
Close section
Part 21: Leasing arrangements: finance leases and loans [ss.895-937]
Chapter 1: Introduction [ss.895-898]
Chapter 2: Finance leases with return in capital form [ss.899-924]
Chapter 3: Other finance leases [ss.925-929]
Chapter 4: Supplementary provisions [ss.930-937]
Close section
Part 21A: Risk transfer schemes [ss.937A-937O]
Introduction
Basic definitions
Treatment of ring-fenced scheme losses
A company's losses pool and profits pool
General
Power to amend this Part
Close section
Part 21B: Group mismatch schemes [ss.938A-938N]
938A: Losses and profits from group mismatch schemes to be disregarded
938B: Meaning of "a group mismatch scheme" and "the scheme group"
938C: Meaning of "scheme loss" and "scheme profit"
938D: Meaning of "relevant tax advantage" etc and "the scheme period"
938E: Meaning of "group"
938F: Meaning of references to economic profits and losses
938G: Tax capacity assumption
938H: Meaning of "scheme"
938I: Schemes involving repos or quasi-repos
938J: Schemes involving finance arrangements
938K: Trading income
938L: Foreign companies and foreign permanent establishments
938M: Controlled foreign companies
938N: Priority
Close section
Part 21BA: Tax mismatch schemes [ss.938O-938V]
938O: Losses and profits from tax mismatch scheme to be disregarded
938P: Meaning of "tax mismatch scheme"
938Q: Meaning of "scheme loss" and "scheme profit"
938R: Meaning of "relevant tax advantage" etc and "the scheme period"
938S: Meaning of references to economic profits and losses
938T: Tax capacity assumption
938U: Meaning of "scheme"
938V: Priority
Close section
Part 21C: Tainted charity donations [ss.939A-939I]
Introduction
Tainted donations
Removal of reliefs
Supplementary
Close section
Part 22: Miscellaneous provisions [ss.940A-996A]
Chapter 1: Transfers of trade without a change of ownership [ss.940A-953]
Chapter 2: Transfers of trade to obtain balancing allowances [ss.954-957]
Chapter 3: Transfer of relief within partnerships [ss.958-962]
Chapter 4: Surrender of tax refund within group [ss.963-966]
Chapter 5: Set off of income tax deductions against corporation tax [ss.967-968]
Chapter 6: Collection etc of tax from UK representatives of non-UK resident companies [ss.969-972]
Chapter 7: Recovery of unpaid corporation tax due from non-UK resident company [ss.973-980]
Chapter 8: Exemptions [ss.981-989]
Chapter 9: Other miscellaneous provisions [ss.990-996A]
Close section
Part 23: Company distributions [ss.997-1117]
Chapter 1: Introduction [s.997]
Close section
Chapter 2: Matters which are distributions [ss.998-1028]
Introduction
Meaning of "distribution"
Redeemable share capital
Securities issued otherwise than for new consideration
Distributions in respect of non-commercial securities
Exceptions to section 1008
Distributions in respect of special securities
Transfers of assets or liabilities treated as distributions
Bonus issue following repayment of share capital
Interpretation of references to repayment of share capital
Close section
Chapter 3: Matters which are not distributions [ss.1029-1063]
Introduction
Distributions in a winding up
Distributions prior to dissolution of company
Distribution as part of a cross-border merger
Payments of interest
[Tier Two Capital]
Purchase of own shares
Purchase of own shares: supplementary
Stock dividends
Building society payments
Registered society payments
Payments made by UK agricultural or fishing co-operatives
Supplementary provisions
Close section
Chapter 4: Special rules for distributions made by certain companies [ss.1064-1072]
Close companies
Companies carrying on a mutual business
Companies not carrying on a business
Members of a 90% group
Close section
Chapter 5: Demergers [ss.1073-1099]
Introduction
Exempt distributions
Exemption by virtue of section 1076 or 1077: conditions
Chargeable payments
Advance clearance
Information and returns
Supplementary
Close section
Chapter 6: Information and returns: further provisions [ss.1100-1108]
General duties to provide information
Companies and nominees required to provide tax certificates
Chapter 7: Tax credits [ss.1109-1111]
Chapter 8: Interpretation of Part [ss.1112-1117]
Close section
Part 24: Corporation Tax Acts definitions etc [ss.1118-1173]
Chapter 1: Definitions [ss.1118-1140]
Chapter 2: Permanent establishments [ss.1141-1153]
Chapter 3: Subsidiaries [ss.1154-1157]
Chapter 4: Investment trusts [ss.1158-1165]
Chapter 5: Other Corporation Tax Acts provisions [ss.1166-1173]
Close section
Part 25: Definitions for purposes of Act and final provisions [ss.1174-1185]
Definitions for the purposes of Act
Final provisions
Close section
Schedule 1: Minor and consequential amendments
Part 1: Income and Corporation Taxes Act 1988
Part 2: Other enactments
Close section
Schedule 2: Transitionals and savings etc
Part 1: General provisions
Part 2: Changes in the law
Part 3: Currency
Part 4: Loss relief (other than share loss relief)
Part 5: Losses on disposal of shares
Part 6: Group Relief
Part 7: Charitable donations relief
Part 8: CITR
Part 9: Oil activities
Part 10: Leasing plant or machinery
Part 11: Close companies
Part 12: Charitable companies etc
Part 13: Real Estate Investment Trusts
Part 14: Co-operative housing associations and self-build societies
Part 15: Transactions in securities
Part 16: Factoring of income etc
Part 17: ...
Part 18: Sale and lease-back etc
Part 19: Tax avoidance involving leasing plant or machinery
Part 20: Leasing arrangements: finance leases and loans
Part 21: Transfers of trade without a change in ownership
Part 22: Use of different accounting practices within a group
Part 23: Company distributions
Part 24: Corporation Tax Acts definitions etc
Close section
Schedule 3: Repeals and revocations
Part 1: General
Part 2: Repeals and revocations having effect for corporation tax purposes only
Schedule 4: Index of defined expressions
Close section
Income Tax (Earnings and Pensions) Act 2003
Arrangement of Sections
Close section
Part 1: Overview [ss.1-2]
1: Overview of contents of this Act
2: Abbreviations and general index in Schedule 1
Close section
Part 2: Employment income: charge to tax [ss.3-61X]
Chapter 1: Introduction [ss.3-5]
Chapter 2: Tax on employment income [ss.6-8]
Chapter 3: Operation of tax charge [ss.9-13]
Chapter 4: Taxable earnings: UK resident employees [ss.14-19]
Chapter 5: Taxable earnings: remittance basis rules and rules for non-uk resident employees [ss.20-41ZA]
Chapter 5A: ... [s.41A]
Chapter 5B: Taxable specific income from employment-related securities etc: internationally mobile employees [ss.41F-41L]
Chapter 6: ... [ss.42-43]
Chapter 7: Application of provisions to agency workers [ss.44-47]
Chapter 8: Workers' services provided through intermediaries to small clients [ss.48-61]
Chapter 9: Managed service companies [ss.61A-61J]
Chapter 10: Workers' services provided through intermediaries to public authorities or medium or large clients [ss.61K-61X]
Close section
Part 3: Employment income: earnings and benefits etc. treated as earnings [ss.62-226E]
Chapter 1: Earnings [s.62]
Chapter 2: Taxable benefits: the benefits code [ss.63-69B]
Chapter 3: Taxable benefits: expenses payments [ss.70-72]
Chapter 4: Taxable benefits: vouchers and credit-tokens [ss.73-96A]
Chapter 5: Taxable benefits: living accommodation [ss.97-113]
Chapter 6: Taxable benefits: cars, vans and related benefits [ss.114-172]
Chapter 7: Taxable benefits: loans [ss.173-191]
Chapter 8: ... [ss.192-197]
Chapter 9: ... [ss.198-200]
Chapter 10: Taxable benefits: residual liability to charge [ss.201-215]
Chapter 11: ... [ss.216-220]
Chapter 12: Other amounts treated as earnings [ss.221-226E]
Close section
Part 4: Employment income: exemptions [ss.227-326B]
Chapter 1: Exemptions: general [ss.227-228A]
Chapter 2: Exemptions: mileage allowances and passenger payments [ss.229-236]
Chapter 3: Exemptions: other transport, travel and subsistence [ss.237-249]
Chapter 4: Exemptions: education and training [ss.250-260]
Chapter 5: Exemptions: recreational benefits [ss.261-265]
Chapter 6: Exemptions: non-cash vouchers and credit-tokens [ss.266-270B]
Chapter 7: Exemptions: removal benefits and expenses [ss.271-289]
Chapter 7A: Exemptions: amounts which would otherwise be deductible [ss.289A-289E]
Chapter 8: Exemptions: special kinds of employees [ss.290-306B]
Chapter 9: Exemptions: pension provision [ss.307-308C]
Chapter 10: Exemptions: termination of employment [ss.309-312]
Chapter 10A: Exemptions: bonus payments by certain employers [ss.312A-312I]
Chapter 11: Miscellaneous exemptions [ss.313-326B]
Close section
Part 5: Employment income: deductions allowed from earnings [ss.327-385]
Chapter 1: Deductions allowed from earnings: general rules [ss.327-332]
Chapter 2: Deductions for employee's expenses [ss.333-360A]
Chapter 3: Deductions from benefits code earnings [ss.361-365]
Chapter 4: Fixed allowances for employee's expenses [ss.366-368]
Chapter 5: Deductions for earnings representing benefits or reimbursed expenses [ss.369-377]
Chapter 6: Deductions from seafarers' earnings [ss.378-385]
Close section
Part 6: Employment income: income which is not earnings or share-related [ss.386-416]
Chapter 1: ... [ss.386-392]
Chapter 2: Benefits from employer-financed retirement benefits schemes [ss.393-400]
Chapter 3: Payments and benefits on termination of employment etc. [ss.401-416]
Close section
Part 7: Employment income: income and exemptions relating to securities [ss.417-554]
Chapter 1: Introduction [ss.417-421L]
Chapter 2: Restricted Securities [ss.422-434]
Chapter 3: Convertible securities [ss.435-446]
Chapter 3A: Securities with Artificially Depressed Market Value [ss.446A-446J]
Chapter 3B: Securities with Artificially Enhanced Market Value [ss.446K-446P]
Chapter 3C: Securities Acquired for Less Than Market Value [ss.446Q-446W]
Chapter 3D: Securities Disposed of for More Than Market Value [ss.446X-446Z]
Chapter 4: Post-acquisition benefits from securities [ss.447-450]
Chapter 4A: Shares in research institution spin-out companies [ss.451-470]
Chapter 5: Securities options [ss.471-487]
Chapter 6: share incentive plans [ss.488-515]
Chapter 7: SAYE option schemes [ss.516-520]
Chapter 8: CSOP schemes [ss.521-526]
Chapter 9: Enterprise management incentives [ss.527-541]
Chapter 10: Priority share allocations [ss.542-548]
Chapter 11: Supplementary provisions about employee benefit trusts [ss.549-554]
Close section
Part 7A: Employment income provided through third parties [ss.554A-554Z21]
Chapter 1: Application etc [ss.554A-554Z1]
Chapter 2: Treatment of relevant step for income tax purposes [ss.554Z2-554Z11E]
Chapter 3: Undertakings given by employers etc in relation to retirement benefits etc [ss.554Z16-554Z21]
Close section
Part 8: Former employees: deductions for liabilities [ss.555-564]
Deductions in calculating net income
Interpretation
Close section
Part 9: Pension income [ss.565-654]
Chapter 1: Introduction [s.565]
Chapter 2: Tax on pension income [ss.566-568]
Chapter 3: United Kingdom pensions: general rules [ss.569-572A]
Chapter 4: Foreign pensions: general rules [ss.573-576A]
Chapter 5: United Kingdom social security pensions [ss.577-579]
Chapter 5A: Pensions under registered pension schemes [ss.579A-579D]
Chapter 6: ... [ss.580-589]
Chapter 7: ... [ss.590-594]
Chapter 8: ... [ss.595-604]
Chapter 9: ... [ss.605-608]
Chapter 10: Other employment-related annuities [ss.609-614]
Chapter 11: Certain overseas government pensions paid in the UK [ss.615-618]
Chapter 12: House of Commons Members' Fund [ss.619-622]
Chapter 13: ... [ss.623-628]
Chapter 14: Pre-1973 pensions paid under the Overseas Pensions Act 1973 [ss.629-632]
Chapter 15: Voluntary annual payments [ss.633-636]
Chapter 15A: Lump sums under registered pension schemes [ss.636A-636C]
Chapter 16: ... [s.637]
Chapter 17: Exemptions: any taxpayer [ss.638-646F]
Chapter 18: Exemptions: Non-UK resident taxpayers [ss.647-654]
Close section
Part 10: Social security income [ss.655-681H]
Chapter 1: Introduction [s.655]
Chapter 2: Tax on social security income [ss.656-659]
Chapter 3: Taxable UK social security benefits [ss.660-662]
Chapter 4: Taxable UK social security benefits: exemptions [ss.663-676]
Chapter 5: UK social security benefits wholly exempt from income tax [s.677]
Chapter 6: Taxable foreign benefits [ss.678-680]
Chapter 7: Taxable and other foreign benefits: exemptions [ss.681-681H]
Chapter 8: High income child benefit charge [ss.681B-681H]
Close section
Part 11: Pay As You Earn [ss.682-712]
Chapter 1: Introduction [ss.682-683]
Chapter 2: PAYE: general [ss.684-686]
Chapter 3: PAYE: special types of payer or payee [ss.687-692]
Chapter 4: PAYE: special types of income [ss.693-702]
Chapter 5: PAYE settlement agreements [ss.703-707]
Chapter 6: Miscellaneous and supplemental [ss.708-712]
Close section
Part 12: Payroll giving [ss.713-715]
713: Donations to charity: payroll deduction scheme
714: Meaning of "donations"
715: Approval of schemes: regulation by Treasury
Close section
Part 13: Supplementary provisions [ss.716-725]
Alteration of amounts [s.716]
Priority rule for certain dividends etc [s.716A]
Employment intermediaries: information powers [s.716B]
Orders and regulations [s.717]
Interpretation [ss.718-721]
Amendments, repeals, citation etc. [ss.722-725]
Close section
Schedule 1: Abbreviations and defined expressions
Part 1: Abbreviations of Acts and instruments
Part 2: Index of expressions defined in this Act or ICTA
Close section
Schedule 2: Share Incentive Plans
Part 1: Introduction
Part 2: General requirements
Part 3: Eligibility of individuals
Part 4: Types of shares that may be awarded
Part 5: Free shares
Part 6: Partnership shares
Part 7: Matching shares
Part 8: Cash dividends and dividend shares
Part 9: Trustees
Part 10: Notification of plans, annual returns and enquiries
Part 10A: Disqualifying events
Part 11: Supplementary provisions
Close section
Schedule 3: Saye option schemes
Part 1: Introduction
Part 2: General requirements
Part 3: Eligibility of individuals to participate in scheme
Part 4: Shares to which schemes can apply
Part 5: Requirement for linked savings arrangement
Part 6: Requirements etc. relating to share options
Part 7: Exchange of share options
Part 8: Notification of schemes, annual returns and enquiries
Part 9: Supplementary provisions
Close section
Schedule 4: CSOP schemes
Part 1: Introduction
Part 2: General requirements
Part 3: Eligibility of individuals to participate in scheme
Part 4: Shares to which schemes can apply
Part 5: Requirements etc. relating to share options
Part 6: Exchange of share options
Part 7: Notification of schemes, annual returns and enquiries
Part 8: Supplementary provisions
Close section
Schedule 5: Enterprise management incentives
Part 1: Introduction
Part 2: General requirements
Part 3: Qualifying companies
Part 4: Eligible employees
Part 5: Requirements relating to options
Part 6: Company reorganisations
Close section
Schedule 6: Consequential Amendments
Part 1: Income and Corporation Taxes Act 1988
Part 2: Other enactments
Close section
Schedule 7: Transitionals and savings
Part 1: Continuity of the law
Part 2: Employment income: charge to tax
Part 3: Employment income: earnings and benefits etc. treated as earning
Part 4: Employment income: exemptions
Part 5: Employment income: deductions
Part 6: Employment income: income which is not earnings or related to securities
Part 7: Employment income: income related to securities
Part 8: Approved profit sharing schemes
Part 9: Social security income
Part 10: PAYE
Part 11: Consequences for corporation tax
Close section
Schedule 8: Repeals and revocations
Part 1: Acts of Parliament
Part 2: Subordinate legislation
Close section
Income Tax (Trading and Other Income) Act 2005
Arrangement of sections
Close section
Part 1: Overview [ss.1-2]
1: Overview of Act
2: Overview of priority rules
Close section
Part 2: Trading income [ss.3-259]
Chapter 1: Introduction [ss.3-4]
Chapter 2: Income taxed as trade profits [ss.5-23]
Chapter 3: Trade profits: basic rules [ss.24-31]
Chapter 3A: Trade profits: cash basis [ss.31A-31F]
Chapter 4: Trade profits: rules restricting deductions [ss.32-55B]
Chapter 5: Trade profits: rules allowing deductions [ss.56-94AA]
Chapter 5A: Trade profits: deductions allowable at a fixed rate [ss.94B-94I]
Chapter 6: Trade profits: receipts [ss.95-106]
Chapter 6A: Trade profits: amounts not reflecting commercial transactions [ss.106A-106E]
Chapter 7: Trade profits: gifts to charities etc. [ss.107-110]
Chapter 8: Trade profits: herd basis rules [ss.111-129]
Chapter 9: Trade profits: sound recordings [ss.130-144]
Chapter 10: Trade profits: certain telecommunication rights [ss.144A-148]
Chapter 10A: Leases of plant or machinery: special rules for long funding leases [ss.148ZA-148J]
Chapter 11: Trade profits: other specific trades [ss.148K-172ZE]
Chapter 11A: Trade profits: changes in trading stock [ss.172A-172F]
Chapter 12: Trade profits: valuation of stock and work in progress on Cessation of Trade [ss.173-186]
Chapter 13: Deductions from profits: unremittable amounts [ss.187-191]
Chapter 14: Disposal and acquisition of know-how [ss.191A-195]
Chapter 15: Basis periods [ss.196-220]
Chapter 16: Averaging profits of farmers and creative artists [ss.221-225]
Chapter 16ZA: Compensation for compulsory slaughter of animals [ss.225ZA-225ZG]
Chapter 16A: Oil activities [ss.225ZH-225V]
Chapter 17: Adjustment income [ss.226-240]
Chapter 17A: Cash basis: adjustments for capital allowances [ss.240A-240E]
Chapter 18: Post-cessation receipts [ss.241-257]
Chapter 19: Supplementary [ss.258-259]
Close section
Part 3: Property income [ss.260-364]
Chapter 1: Introduction [ss.260-262]
Chapter 2: Property businesses [ss.263-267]
Chapter 3: Profits of property businesses: basic rules [ss.268-275]
Chapter 4: Profits of property businesses: lease premiums etc. [ss.276-307]
Chapter 5: Profits of property businesses: other rules about receipts and deductions [ss.307A-321]
Chapter 6: Commercial letting of furnished holiday accommodation [ss.322-328B]
Chapter 7: Adjustment income [ss.329-334A]
Chapter 7A: Cash basis: adjustments for capital allowances [ss.334B-334E]
Chapter 8: Rent receivable in connection with a UK section 12(4) concern [ss.335-343]
Chapter 9: Rent receivable for UK electric-line wayleaves [ss.344-348]
Chapter 10: Post-cessation receipts [ss.349-356]
Chapter 11: ... [ss.357-360]
Chapter 12: Supplementary [ss.361-364]
Close section
Part 4: Savings and investment income [ss.365-573]
Chapter 1: Introduction [ss.365-368A]
Chapter 2: Interest [ss.369-381]
Chapter 2A: Disguised interest [ss.381A-381G]
Chapter 3: Dividends etc. from UK resident companies and tax treated as paid in respect of certain distributions [ss.382-401C]
Chapter 4: Dividends from non-UK resident companies [ss.402-408A]
Chapter 5: Stock dividends from UK resident companies [ss.409-414A]
Chapter 6: Release of loan to participator in close company [ss.415-421A]
Chapter 7: Purchased life annuity payments [ss.422-426]
Chapter 8: Profits from deeply discounted securities [ss.427-460]
Chapter 9: Gains from contracts for life insurance etc. [ss.461-546]
Chapter 10: ... [ss.547-550]
Chapter 11: Transactions in deposits [ss.551-554]
Chapter 12: ... [ss.555-569]
Chapter 13: ... [ss.570-573]
Close section
Part 5: Miscellaneous income [ss.574-689A]
Chapter 1: Introduction [ss.574-577A]
Chapter 2: Receipts from intellectual property [ss.578-608]
Chapter 2A: Offshore receipts in respect of intangible property [ss.608A-608Z]
Chapter 3: Films and sound recordings: non-trade businesses [ss.609-613]
Chapter 4: Certain telecommunication rights: non-trading income [ss.614-618]
Chapter 5: Settlements: amounts treated as income of settlor or family [ss.619-648]
Chapter 6: Beneficiaries' income from estates in administration [ss.649-682A]
Chapter 7: Annual payments not otherwise charged [ss.683-686]
Chapter 8: Income not otherwise charged [ss.687-689A]
Close section
Part 6: Exempt income [ss.690-783]
Chapter 1: Introduction [s.690]
Chapter 2: National savings income [ss.691-693]
Chapter 3: Income from individual investment plans [ss.694-701]
Chapter 4: SAYE interest [ss.702-708]
Chapter 5: Venture capital trust dividends [ss.709-712]
Chapter 6: Income from FOTRA securities [ss.713-715]
Chapter 7: Purchased life annuity payments [ss.717-726]
Chapter 8: Other annual payments [ss.727-748]
Chapter 9: Other income [ss.749-782B]
Chapter 10: General [s.783]
Close section
Part 6A: Income charged under this act: trading and property allowances [ss.783A-783BQ]
Chapter 1: Trading allowance [ss.783A-783AR]
Chapter 2: Property Allowance [ss.783B-783BQ]
Close section
Part 7: Income charged under this Act: rent-a-room and qualifying care relief [ss.784-828]
Chapter 1: Rent-a-room relief [ss.784-802]
Chapter 2: Qualifying care relief [ss.803-828]
Close section
Part 8: Foreign income: special rules [ss.829-845]
Chapter 1: Introduction [ss.829-830]
Chapter 2: Relevant foreign income charged on remittance basis [ss.831-837]
Chapter 3: Relevant foreign income charged on arising basis: deductions and reliefs [ss.838-840A]
Chapter 4: Unremittable income [ss.841-845]
Close section
Part 9: Partnerships [ss.846-863L]
Introduction
Calculation of partners' shares
Firms with trading income
Firms with trading and other source income
Firms with a foreign element
Miscellaneous
Alternative investment fund managers
Close section
Part 10: General provisions [ss.864-886]
Chapter 1: Introduction [s.864]
Chapter 2: General calculation rules etc. [ss.865-872]
Chapter 3: Supplementary and general provisions [ss.873-886]
Close section
Schedule 1: Consequential amendments
Part 1: Income and Corporation Taxes Act 1988
Part 2: Other enactments
Close section
Schedule 2: Transitionals and savings etc.
Part 1: General provisions
Part 2: Changes in the law
Part 3: Trading income
Part 4: Property income
Part 5: Savings and investment income: general
Part 6: Savings and investment income: insurance contracts and policies made before certain dates
Part 7: Savings and investment income: gains from contracts for life insurance etc. (personal portfolio bonds)
Part 8: Miscellaneous income
Part 9: Exempt income
Part 10: Foster-care relief
Part 11: Foreign income: special rules
Part 12: Other provisions
Schedule 3: Repeals and revocations
Close section
Schedule 4: Abbreviations and defined expressions
Part 1 : Abbreviations of Acts
Part 2 : Index of expressions defined in this Act etc.
Close section
Income Tax Act 2007
Arrangement of sections
Close section
Part 1: Overview [ss.1-2]
1: Overview of Income Tax Acts
2: Overview of Act
Close section
Part 2: Basic provisions [ss.3-32]
Chapter 1: Charges to income tax [ss.3-5]
Chapter 2: Rates at which income tax is charged [ss.6-21]
Chapter 3: Calculation of income tax liability [ss.22-32]
Close section
Part 3: Personal reliefs [ss.33-58]
Chapter 1: Introduction [s.33]
Chapter 2: Personal allowance and blind person's allowance [ss.34-41]
Chapter 3: Tax reductions for married couples and civil partners: persons born before 6 April 1935 [ss.42-55]
Chapter 3A: Transferable tax allowance for married couples and civil partners [ss.55A-55E]
Chapter 4: General [ss.56-58]
Close section
Part 4: Loss relief [ss.59-155]
Chapter 1: Introduction [s.59]
Close section
Chapter 2: Trade losses [ss.60-101]
Introduction
Trade loss relief against general income
Restriction on relief for uncommercial trades
Restriction on relief for "hobby" farming or market gardening
Use of trading loss as CGT loss
Early trade losses relief
General restrictions on sideways relief and capital gains relief
Restriction on sideways relief and capital gains relief where cash basis applies
Restrictions on sideways relief for certain capital allowances
Restriction on sideways relief for specific trades
Carry-forward trade loss relief
Terminal trade loss relief
Wholly foreign trades
Post-cessation trade relief
Close section
Chapter 3: Restrictions on trade loss relief for certain partners [ss.102-116A]
Introduction
Limit on amount of sideways relief and capital gains relief
Limited partners
Members of LLPs
Non-active members of LLPs or other partnerships (apart from limited partnerships)
Exclusion of amounts in calculating contribution to the firm or LLP
...
Restrictions for film trades carried on in partnership
Partnerships with mixed membership etc
Close section
Chapter 4: Losses from property businesses [ss.117-127C]
Introduction
Carry-forward property loss relief
Property loss relief against general income
Post-cessation property relief
Furnished holiday accommodation
Restrictions on relief
Chapter 5: Losses in an employment or office [ss.128-130]
Close section
Chapter 6: Losses on disposal of shares [ss.131-150]
Share loss relief against general income
Shares to which EIS relief is not attributable
Qualifying trading companies: the requirements
Qualifying trading companies: supplementary
Limits on share loss relief and mixed holdings
Miscellaneous and supplementary
Close section
Chapter 7: Losses from miscellaneous transactions [ss.151-155]
Loss relief against miscellaneous income
Deposit rights
Supplementary
Close section
Part 5: Enterprise investment scheme [ss.156-257]
Close section
Chapter 1: Introduction [ss.156-161]
EIS relief
Miscellaneous
Close section
Chapter 2: The investor [ss.162-171]
Introduction
The requirements
Worker's services provided to public sector through intermediary
165: The no tax avoidance requirement
Meaning of connection with issuing company
Close section
Chapter 3: General requirements [ss.172-179]
Introduction
The requirements
Meaning of "qualifying business activity"
Close section
Chapter 4: The issuing company [ss.180-200]
Introduction
The requirements
Definitions
Excluded activities
...
Close section
Chapter 5: Attribution of and claims for EIS relief [ss.201-207]
Attribution
Claims: general
Claims: supporting documents
Close section
Chapter 6: Withdrawal or reduction of EIS relief [ss.208-234]
Introduction
Disposals
Value received by investor
Repayments etc of share capital to other persons
Miscellaneous
Close section
Chapter 7: Withdrawal or reduction of EIS relief: procedure [ss.235-244]
Assessments and appeals
Interest
Information
Close section
Chapter 8: Supplementary and general [ss.245-257]
Disposals of shares
Acquisition of issuing company
Nominees etc
Powers to amend
Interpretation
Close section
Part 5A: Seed enterprise investment scheme [ss.257A-257HJ]
Chapter 1: Introduction [ss.257A-257AE]
Close section
Chapter 2: The investor [ss.257B-257BF]
Introduction
The requirements
Meaning of substantial interest in a company
Close section
Chapter 3: General requirements [ss.257C-257CF]
Introduction
The requirements
Close section
Chapter 4: The issuing company [ss.257D-257DN]
Introduction
The requirements
Close section
Chapter 5: Attribution and claims for SEIS relief [ss.257E-257EG]
Attribution
Claims: general
Claims: supporting documents
Close section
Chapter 6: Withdrawal or reduction of SEIS relief [ss.257F-257FR]
Introduction
Value received by investor
Miscellaneous
Close section
Chapter 7: Withdrawal or reduction of SEIS relief: procedure [ss.257G-257GI]
Assessments and appeals
Interest
Information
Close section
Chapter 8: Supplementary and general [ss.257H-257HJ]
Disposals of shares
Acquisition of issuing company
Nominees etc
Interpretation
Close section
Part 5B: Tax relief for social investments [ss.257J-257TE]
Chapter 1: Introduction [ss.257J-257JH]
Close section
Chapter 2: Eligibility for relief: basic rule and key definitions [ss.257K-257KC]
Eligibility
Key definitions
Chapter 3: Eligibility: conditions relating to the investor and the investment [ss.257L-257LH]
Close section
Chapter 4: Eligibility: conditions relating to the social enterprise [ss.257M-257MW]
Conditions relating to the social enterprise: general
Limits on amounts that may be invested
Interpretation of conditions relating to the social enterprise
Chapter 5: Attribution of relief [s.257N]
Chapter 6: Claims for relief [ss.257P-257PE]
Close section
Chapter 7: Withdrawal or reduction of SI relief [ss.257Q-257RC]
Value received by the investor
Repayments etc of investments to other persons
Miscellaneous
Disposals
Close section
Chapter 8: Withdrawal or reduction of SI relief: procedure [ss.257S-257SI]
Assessments and appeals
Interest
Information
Chapter 9: Miscellaneous and supplementary provisions [ss.257T-257TE]
Close section
Part 6: Venture capital trusts [ss.258-332]
Chapter 1: Introduction [ss.258-260]
Close section
Chapter 2: VCT relief [ss.261-273]
Entitlement to relief
Loss of relief
Supplementary
Close section
Chapter 3: VCT approvals [ss.274-285]
Giving of approval
Withdrawal of approval
Supplementary
Close section
Chapter 4: Qualifying holdings [ss.286-313]
Introduction
The requirements
Definitions
Excluded activities
Supplementary
313: Interpretation of Chapter
Close section
Chapter 5: Powers: winding up and mergers of VCTs [ss.314-325]
Winding up
Mergers
Supplementary
Close section
Chapter 6: Supplementary and general [ss.326-332]
Acquisitions for restructuring purposes
Conversion of shares etc and company reorganisations
Nominees
Power to amend Part
Supplementary
Close section
Part 7: Community investment tax relief [ss.333-382]
Close section
Chapter 1: Introduction [ss.332-339]
CITR
Miscellaneous
Chapter 2: Accredited community development finance institutions [ss.340-343]
Chapter 3: Qualifying investments [ss.344-349]
Chapter 4: General conditions [ss.350-353]
Close section
Chapter 5: Claims for and attribution of CITR [ss.354-358]
Claims
Attribution
Close section
Chapter 6: Withdrawal or reduction of CITR [ss.359-372]
Introduction
Disposals
Repayment of loans
Receipts of value
CITR not due
Manner of withdrawal or reduction
Close section
Chapter 7: Supplementary and general [ss.372A-382]
Alternative finance arrangements
Miscellaneous
Definitions
Close section
Part 8: Other reliefs [ss.383-412]
Close section
Chapter 1: Interest payments [ss.383-412]
The relief: introduction
Loans for plant or machinery
Loans for interests in close companies etc
Loans for interests in employee-controlled companies
Loans for investing in partnerships
Loans for investing in co-operatives
Loans for paying inheritance tax
General and supplementary
Close section
Chapter 1A: Irrecoverable peer-to-peer loans [ss.412A-430]
The relief
Supplementary provisions
Interpretation
Close section
Chapter 2: Gift aid [ss.413-430]
The relief
Restrictions on associated benefits
Admission rights
...
Measures to ensure donor's liability not less than tax treated as deducted
Election to carry back relief
Supplementary
Close section
Chapter 3: Gifts of shares, securities and real property to charities etc [ss.431-446]
Entitlement to relief
Amount of relief
Value of net benefit to charity
Special provisions about qualifying interests in land
Supplementary
Chapter 4: Annual payments [ss.447-452]
Chapter 5: Qualifying maintenance payments [ss.453-456]
Close section
Chapter 6: Miscellaneous other reliefs [ss.457-461]
Payments for life insurance etc
Patent royalty receipts
Close section
Part 9: Special rules about settlements and trustees [ss.462-517]
Chapter 1: Introduction [ss.462-464]
Close section
Chapter 2: General provision about settlements and trustees [ss.465-478]
Overview
Settled property
Settlors
Trustees
Sub-funds
Regulations
Chapter 3: Special rates for trustees' income [ss.479-483]
Chapter 4: Trustees' expenses and special rates for trustees [ss.484-487]
Chapter 5: Share incentive plans [ss.488-490]
Chapter 6: Trustees' first slice of trust rate income [ss.491-492]
Close section
Chapter 7: Discretionary payments [ss.493-498]
Payments constituting income of beneficiary (other than employment income)
Payments constituting employment income of beneficiary
Tax pool
Chapter 8: Trustees' expenses and beneficiary's income [ss.499-503]
Chapter 9: ... [ss.504-506]
Close section
Chapter 10: Heritage maintenance settlements [ss.507-517]
Introduction
Trustees' election in respect of income etc
Absence of election and income treated as income of settlor: special rules
Application of property for non-heritage purposes: charge to tax
Close section
Part 9A: Transactions in UK land [ss.517A-517U]
Introduction
Amounts treated as profits of a trade
Person to whom profits attributed
Anti-fragmentation
Calculation of profit or gain on disposal
Arrangements for avoiding tax
Exemptions
Other supplementary provisions
Interpretation
Close section
Part 10: Special rules about charitable trusts etc [ss.518-564]
Introduction
Gifts and other payments
Other exemptions
Claims
Restrictions on exemptions
Non-charitable expenditure
...
Approved charitable investments and loans
Carry back of excess non-charitable expenditure
Close section
Part 10A: Alternative finance arrangements [ss.564A-564Y]
Introduction
Arrangements that are alternative finance arrangements
Meaning of "alternative finance return"
Treatment of alternative finance return as interest etc
Special rules for investment bond arrangements
Other rules
Close section
Part 11: ... [ss.565-614]
Chapter 1: ... [ss.565-571]
Close section
Chapter 2: ... [ss.572-591]
...
...
...
...
...
...
...
Close section
Chapter 3: ... [ss.592-595]
...
...
...
Close section
Chapter 4: Deemed manufactured payments [ss.596-606]
...
...
...
Close section
Chapter 5: ... [ss.607-611]
...
...
...
...
Chapter 6: ... [ss.612-614]
Close section
Part 11ZA: Manufactured payments
614ZA: Overview of Part
614ZB: Key definitions
614ZC: Treatment of payer of manufactured payment
614ZD: Treatment of recipient of manufactured payment
Close section
Part 11A: Leasing arrangements: finance leases and loans [ss.614A-614DG]
Close section
Chapter 1: Introduction [ss.614A-6141C]
Introduction
Meaning of expressions about rent
Close section
Chapter 2: Finance leases with return in capital form [ss.614B-614BY]
Introduction
Leases to which this Chapter applies
Current lessor taxed by reference to accountancy rental earnings
Reduction of taxable rent by cumulative rental excesses
Relief for bad debts by reduction of cumulative rental excesses
Effect of disposals
Capital allowances: claw-back of major lump sum
Schemes to which this Chapter does not at first apply
Close section
Chapter 3: Other finance leases [ss.614C-614CD]
Introduction
Leases to which this Chapter applies
Current lessor taxed by reference to accountancy rental earnings
Application of provisions of Chapter 2 for purposes of this Chapter
Chapter 4: Supplementary provisions [ss.614D-614DG]
Close section
Part 12: Accrued income profits [ss.615-681]
Chapter 1: Introduction [s.615]
Chapter 2: Accrued income profits and losses [ss.616-677]
Chapter 3: Exemptions relating to interest on securities [ss.678-681]
Close section
Part 12A: Sale and lease-back etc [ss.681A-681DP]
Chapter 1: Payments connected with transferred land [ss.681A-681AN]
Chapter 2: New lease of land after assignment or surrender [ss.681B-681BM]
Chapter 3: Leased trading assets [ss.681C-681CG]
Chapter 4: Leased assets: capital sums [ss.681D-681DP]
Close section
Part 13: Tax avoidance [ss.682-809ZR]
Chapter 1: Transactions in securities [ss.682-713]
Chapter 2: Transfer of assets abroad [ss.714-751]
Chapter 3: ... [ss.752-772]
Chapter 4: Sales of occupation income [ss.773-789]
Chapter 5: Avoidance involving trading losses [ss.790-809]
Chapter 5A: Transfers of income streams [ss.809AZA-809AZG]
Chapter 5AA: Disposals of income streams through partnerships [ss.809AAZA-809AAZB]
Chapter 5B: Finance arrangements [ss.809BZA-809BZS]
Chapter 5C: Loan or credit transactions [ss.809CZA-809CZZ]
Chapter 5D: Disposals of assets through partnerships [ss.809DZA-809DZB]
Chapter 5E: Disguised investment management fees [ss.809EZA-809EZH]
Chapter 5F: Income-based carried interest [ss.809FZA-809F22]
Chapter 6: Avoidance involving leases of plant and machinery [ss.809ZA-809ZFA]
Chapter 7: Avoidance involving obtaining tax relief for interest [s.809ZG]
Chapter 8: Tainted charity donations [ss.809ZH-809ZR]
Close section
Part 14: Income tax liability: miscellaneous rules [ss.809A-846]
Chapter A1: Remittance basis [ss.809A-809Z7]
Chapter 1: Limits on liability to income tax of non-UK residents [ss.810-828]
Chapter 1A: Exemption for persons not domiciled in United Kingdom [ss.828A-828D]
Chapter 2: Residence [ss.829-835A]
Chapter 2A: Domicile [ss.835B]
Chapter 2B: UK representative of non-UK resident [ss.835C-835S]
Chapter 2C: Income tax obligations and liabilities imposed on UK representatives [ss.835T-835Y]
Chapter 3: Jointly held property [ss.836-837]
Chapter 3A: Banks etc in compulsory liquidation [ss.837A-837H]
Chapter 4: Other miscellaneous rules [ss.838-846]
Close section
Part 15: Deduction of income tax at source [ss.847-987]
Chapter 1: Introduction [ss.847-849]
Chapter 2: Meaning of "relevant investment" for purposes of section 876 [ss.850-873]
Chapter 3: Deduction from certain payments of yearly interest [ss.874-888A]
Chapter 4: Deduction from payments in respect of building society securities [s.889]
Chapter 5: Deduction from payments of UK public revenue dividends [ss.890-897]
Chapter 6: Deduction from annual payments and patent royalties [ss.898-905]
Chapter 7: Deduction from other payments connected with intellectual property [ss.906-910]
Chapter 8: Chapters 6 and 7: special provision in relation to royalties [ss.911-917A]
Chapter 9: Manufactured payments [ss.918-927]
Chapter 10: Deduction from non-commercial payments by companies [s.928]
Chapter 11: Payments between companies etc: exception from duties to deduct [ss.929-938]
Chapter 12: Funding bonds [ss.939-940A]
Chapter 13: ... [ss.941-943D]
Chapter 14: Tax avoidance: directions for duty to deduct to apply [ss.944]
Chapter 15: Collection: deposit-takers, building societies and certain companies [ss.945-962]
Chapter 16: Collection: certain payments by other persons [ss.963-963A]
Chapter 17: Collection through self-assessment return [s.964]
Chapter 18: Other regimes involving the deduction of income tax at source [ss.965-974]
Chapter 19: General [ss.975-987]
Close section
Part 16: Income Tax Acts definitions etc [ss.998-1016]
Chapter 1: Definitions [ss.998-1007A]
Chapter 2: Other Income Tax Acts provisions [ss.1008-1016]
Close section
Part 17: Definitions for purposes of Act and final provisions
Definitions for the purposes of Act
Final provisions
Close section
Schedule 1: Minor and consequential amendments
Part 1: Income and Corporation Taxes Act 1988
Part 2: Other enactments
Part 3: Amendment having effect in relation to shares issued after 5 April 2007
Close section
Schedule 2: Transitionals and savings
Part 1: General provisions
Part 2: Changes in the law
Part 3: Rates at which income tax is charged
Part 4: ... Part 5: Losses(except losses on disposal of shares)
Part 6: Losses on disposal of shares
Part 7: Enterprise investment scheme
Part 8: Venture capital trusts
Part 9: Other reliefs
Part 10: Special rules about settlements and trustees
Part 11: Special rules about charitable trusts etc
Part 12: ...
Part 13: Accrued income profits
Part 14: Tax avoidance
Part 15: Deduction of income tax at source
Part 16: Other provisions
Close section
Schedule 3: Repeals and revocations
Part 1: Repeals and revocations: general
Part 2: Repeals having effect in relation to shares issued after 5 April 2007
Schedule 4: Index of defined expressions
Close section
Inheritance Tax Act 1984
Arrangement of sections
Close section
Part I: General [ss.1-17]
Close section
Main charges and definitions [ss.1-3A]
1: Charge on transfers.
2: Chargeable transfers and exempt transfers.
3: Transfers of value.
3A: Potentially exempt transfers.
Rates [ss.7-9]
Dispositions that are not transfers of value (and omissions that do not give rise to deemed dispositions) [ss.10-17]
Close section
Part II: Exempt transfers [ss.18-42]
Close section
Chapter I: General [ss.18-29A]
18: Transfers between spouses or civil partners.
19: Annual exemption.
20: Small gifts.
21: Normal expenditure out of income.
22: Gifts in consideration of marriage or civil partnership.
23: Gifts to charities or registered clubs.
24: Gifts to political parties.
24A: Gifts to housing associations.
25: Gifts for national purposes, etc.
26: ...
26A: Potentially exempt transfer of property subsequently held for national purposes etc.
27: Maintenance funds for historic buildings, etc.
28: Employee trusts.
28A: Employee-ownership trusts
29: Loans-modifications of exemptions.
29A: Abatement of exemption where claim settled out of beneficiary's own resources.
Close section
Chapter II: Conditional exemption [ss.30-35A]
30: Conditionally exempt transfers.
31: Designation and undertakings.
32: Chargeable events.
32A: Associated properties.
33: Amount of charge under section 32.
34: Reinstatement of transferor's cumulative total.
35: Conditional exemption on death before 7th April 1976.
35A: Variation of undertakings.
Close section
Chapter III: Allocation of exemptions [ss.36-42]
36: Preliminary.
37: Abatement of gifts.
38: Attribution of value to specific gifts.
39: Attribution of value to residuary gifts.
39A: Operation of sections 38 and 39 in cases of business or agricultural relief.
40: Gifts made separately out of different funds.
41: Burden of tax.
42: Supplementary.
Close section
Part III: Settled property [ss.43-87]
Close section
Chapter I: Preliminary [ss.43-48]
43: Settlement and related expressions.
44: Settlor.
45: Trustee.
46: Interest in possession: Scotland.
46A: Contract of life insurance entered into before 22nd March 2006 which on that day is settled property in which interest in possession subsists
46B: Contract of life insurance entered into before 22nd March 2006 which immediately before that day is property to which section 71 applies
47: Reversionary interest
47A: Settlement power
48: Excluded property.
48A: Commencement of settlement
Close section
Chapter II: Interests in possession, reversionary interests and settlement powers [ss.49-57A]
49: Treatment of interests in possession.
49A: Immediate post-death interest
49B: Transitional serial interests
49C: Transitional serial interest: interest to which person becomes entitled during period 22nd March 2006 to 5th October 2008
49D: Transitional serial interest: interest to which person becomes entitled on death of spouse or civil partner on or after 6th October 2008
49E: Transitional serial interest: contracts of life insurance
50: Interests in part, etc.
51: Disposal of interest in possession.
52: Charge on termination of interest in possession.
53: Exceptions from charge under section 52.
54: Exceptions from charge on death
54A: Special rate of charge where settled property affected by potentially exempt transfer.
54B: Provisions supplementary to section 54A.
55: Reversionary interest acquired by beneficiary
55A: Purchased settlement powers
56: Exclusion of certain exemptions.
57: Application of certain exemptions.
57A: Relief where property enters maintenance fund.
Close section
Chapter III: Settlements without interests in possession, and certain settlements in which interests in possession subsist [ss.58-81]
58: Relevant property.
59: Qualifying interest in possession.
60: ...
61: Ten-year anniversary.
62: Related settlements.
62A: Same-day additions
62B: Same day additions: exceptions
62C: Protected settlements
63: Minor interpretative provisions.
Principal charge to tax [ss.64-65]
Rates of principal charge [ss.66-69]
Special cases-charges to tax [ss.70-76]
Works of art, historic buildings, etc. [ss.77-79A]
Miscellaneous [ss.80-85]
Chapter IV: Miscellaneous [ss.86-87]
Close section
Part IV: Close companies [ss.94-102]
Transfers by close companies [ss.94-98]
Settled property [ss.99-101]
General [s.102]
Close section
Part V: Miscellaneous reliefs [ss.103-159]
Close section
Chapter I: Business property [ss.103-114]
103: Preliminary
104: The relief.
105: Relevant business property.
106: Minimum period of ownership.
107: Replacements.
108: Successions.
109: Successive transfers.
109A: ...
110: Value of business.
111: Value of certain shares and securities.
112: Exclusion of value of excepted assets.
113: Contracts for sale.
113A: Transfers within seven years before death of transferor.
113B: Application of section 113A to replacement property.
114: Avoidance of double relief.
Close section
Chapter II: Agricultural property [ss.115-124C]
115: Preliminary.
116: The relief.
117: Minimum period of occupation or ownership.
118: Replacements.
119: Occupation by company or partnership.
120: Successions.
121: Successive transfers.
122: Agricultural property of companies.
123: Provisions supplementary to section 122.
124: Contracts for sale.
124A: Transfers within seven years before death of transferor.
124B: Application of section 124A to replacement property.
124C: Land in habitat schemes.
Close section
Chapter III: Woodlands [ss.125-130]
125: The relief.
126: Charge to tax on disposal of trees or underwood.
127: Amount subject to charge.
128: Rate of charge.
129: Credit for tax charged.
130: Interpretation.
Chapter IV: Transfers within three years before death [ss.131-140]
Close section
Chapter V: Miscellaneous [ss.141-159]
Successive charges [ss.141-141A]
Changes in distribution of deceased's estate, etc. [ss.142-147]
Mutual and voidable transfers [ss.148-150]
Pension schemes, etc [ss.151-153]
Payments to victims of persecution during Second World War era [s.153ZA]
Emergency services [s.153A]
Armed forces [ss.154-155]
Constables and service personnel [s.155A]
Apsley House and Chevening Estate [s.156]
Non-residents' bank accounts [s.157]
Double taxation relief [ss.158-159]
Dormant assets [s.159A]
Close section
Part VI: Valuation [ss.160-198]
Chapter I: General [ss.160-170]
Chapter II: Estate on death [ss.171-177]
Chapter III: Sale of shares etc. from deceased's estate [ss.178-189]
Chapter IV: Sale of land from deceased's estate [ss.190-198]
Close section
Part VII: Liability [ss.199-214]
General rules [ss.199-205]
Special cases [ss.206-210]
Burden of tax, etc. [ss.211-214]
Close section
Part VIII: Administration and collection [ss.215-261]
Management [s.215]
Accounts and information [ss.216-220A]
Determinations, reviews and appeals [ss.221-225A]
Payment [ss.226-232]
Interest [ss.233-236]
Inland Revenue charge for unpaid tax [ss.237-238]
Certificates of discharge [s.239]
Adjustments [ss.240-241]
Recovery of tax [ss.242-244]
Penalties [ss.245-253]
Miscellaneous [ss.254-261]
Close section
Part IX: Miscellaneous and supplementary [ss.262-278]
Miscellaneous [ss.262-267B]
Interpretation [ss.268-272]
Supplementary [ss.273-278]
Close section
Schedule A1: Non-excluded overseas property
Part 1: Overseas property with value attributable to UK residential property
Part 2: Supplementary
Part 3: Interpretation
Schedule 1: Rates of Tax
Close section
Schedule 1A: Gifts to charities etc: tax charged at lower rate
Application of this Schedule
The relief
The components of the estate
The donated amount
The baseline amount
Rules for determining whether charitable giving condition is met
Election to merge parts of the estate
Opting out
Elections: procedure
General interpretation
Close section
Schedule 2: Provisions applying on reduction of tax
Interpretation
Death within seven years of potentially exempt transfer
Death within seven years of chargeable transfer
Settlement without interest in possession
Disposal of trees etc. following exemption on death
Conditionally exempt transfers
Maintenance funds for historic buildings
...
Schedule 3: Gifts for national purposes, etc.
Close section
Schedule 4: Maintenance funds for historic buildings, etc.
Part I: Treasury Directions
Part II: Property leaving maintenance funds
Part III: Property becoming comprised in maintenance funds
Close section
Schedule 5: Conditional exemption: deaths before 7th April 1976
Charge on failure of condition of exemption-objects
Charge on failure of condition of exemption-buildings etc.
Further undertaking on disposal
Requirements of sale
Close section
Schedule 5A: Qualifying payments: victims of persecution during Second World War era
Part 1: Compensation payments
Part 2: Ex-gratia payments
Close section
Schedule 6: Transition from Estate Duty
General
Surviving spouse or former spouse
Sales and mortgages of reversionary interests
Objects of national etc. interest left out of account on death
Schedule 7: Commencement: supplementary rules
Close section
Schedule 8: Consequential amendments
...
The Crown Proceedings Act 1947
The Land Charges Act 1972
The Finance Act 1975
The National Heritage Act 1980
The Finance Act 1980
The Supreme Court Act 1981
...
...
...
...
Close section
Schedule 9: Repeals
TABLE OF DERIVATIONS
TABLE OF DESTINATIONS
Close section
Taxation of Chargeable Gains Act 1992
Arrangement of sections
Close section
Part 1: Capital gains tax and corporation tax on chargeable gains [ss.1-3G]
Chapter 1: Capital gains tax [s.1-1O]
Chapter 2: Corporation tax on chargeable gains [ss.2-2G]
Chapter 3: Attribution of gains of non-UK resident close companies [ss.3-3G]
Close section
Part II: General Provisions relating to computation of gains and acquisitions and disposals of assets [ss.15-57C]
Chapter I: Introductory [ss.15-20]
Chapter II: Assets and disposals of assets [ss.21-34]
Chapter III: Computation of gains: General provisions [ss.35-52]
Chapter IV: Computation of gains: the indexation allowance [ss.52A-57]
Chapter 5: ...
Chapter 6: ...
Chapter 7: ...
Close section
Part III: Individuals, partnerships, trustsand collective investment schemes etc [ss.58-103KH]
Chapter I: Miscellaneous provisions [ss.58-67]
Chapter II: Settlements [ss.68-98A]
Chapter III: Collective investment schemes and investment trusts etc [ss.99-103D]
Chapter 4: Collective investment schemes: exchanges, mergers and schemes of reconstruction [ss.103E-103K]
Chapter 5: Carried interest [ss.103KA-103KH]
Close section
Part IV: Shares, securities, options etc. [ss.104-151Y]
Chapter I: General [ss.104-125A]
Close section
Chapter II: Reorganisation of share capital, conversion of securities etc. [ss.126-140C]
Reorganisation or reduction of share capital
Conversion of securities
Company reconstructions
Transfers concerning companies of different member States
Mergers within European Community
Transparent entities: disapplication of reliefs related to Mergers Directive
Chapter III: Miscellaneous provisions relating to commodities, futures, options and other securities [ss.141-151G]
Close section
Chapter 4: Alternative finance arrangements [ss.151H-151Y]
Introduction
Arrangements that are alternative finance arrangements
Meaning of "alternative finance return"
Special rules for investment bond arrangements
Other rules
Close section
Part V: Transfer of business assets, business asset disposal relief and investors' relief [ss.152-169VY]
Chapter I: Transfer of business assets: General provisions [ss.152-164]
Chapter IA: ... [s.164A]
Chapter II: Gifts of business assets [ss.165-169G]
Chapter 3: Business asset disposal relief [ss.169H-169SA]
Chapter 3A: Business asset disposal relief where company ceases to be individual's personal company [ss.169SB-169SH]
Chapter 4: Business asset disposal relief where held-over gains become chargeable [ss.169T-169V]
Chapter 5: Investors' relief [ss.169VA-169VY]
Close section
Part VI: Companies, oil, insurance etc. [ss.170-221]
Chapter I: Companies [ss.170-192A]
Chapter II: Oil and mining industries [ss.193-203]
Chapter III: Insurance [ss.204-214BA]
Close section
Chapter IV: Miscellaneous cases [ss.214C-221]
...
Building societies etc.
Friendly societies
Registered societies and co-operatives
The Regulator of Social Housing, the Secretary of State and housing associations
...
Close section
Part VII: Other property, businesses, investments etc. [ss.222-271]
Private residences [ss.222-226B]
Employee share ownership trusts [ss.227-236]
Share incentive plans [ss.236A-271]
Employee shareholders [ss.236B-236G]
Employee-ownership trusts [ss.236H-236U]
Superannuation funds, profit sharing schemes, employee trusts etc. [ss.237-239ZA]
Registered pension schemes [s.239A]
... [ss.239B]
Leases [ss.240-241]
Part disposals [ss.241A-244]
Compulsory acquisition [ss.245-248]
Joint interests in land [ss.248A-248E]
Woodlands [ss.249-250]
Debts [ss.251-255]
Investments in social enterprises [ss.255A-255E]
Charities and gifts of non-business assets etc. [ss.256-261ZA]
Know-how [s.261A]
Deduction of trading losses or post-cessation expenditure etc [ss.261B-261E]
Repurchase price under repos [ss.261F-261H]
Miscellaneous reliefs and exemptions [ss.262-271]
Visiting forces and official agents etc
Close section
Part 7A: UK representatives of non-UK residents [ss.271A-271J]
Chapter 1: Treatment of branch or agency as UK representative of non-UK resident [ss.271A-271D]
Chapter 2: Capital gains tax obligations and liabilities imposed on UK representatives [ss.271E-271J]
Close section
Part VIII: Supplemental [ss.272-291]
272: Valuation: general
273: Unquoted shares and securities
274: Value determined for inheritance tax
275: Location of assets
275A: Location of certain intangible assets
275B: Section 275A: supplementary provisions
275C: Location of assets: interests of co-owners
276: The territorial sea and the continental shelf
276A: No gain/no loss: foreign permanent establishment exemption
277: ...
278: ...
279: Foreign assets: delayed remittances
279A: Deferred unascertainable consideration: election for treatment of loss
279B: Provisions supplementary to section 279A
279C: Effect of election under section 279A
279D: Elections under section 279A
280: Consideration payable by instalments
281: Payment by instalments of tax on gifts
282: Recovery of tax from donee
283: Repayment supplements
284: Income tax decisions
284A: Concessions that defer a charge.
284B: Provisions supplementary to section 284A.
285: ...
285A: UK Economic Interest Groupings European Economic Interest Groupings
286: Connected persons: interpretation
286A: Residence of companies
287: Orders and regulations made by the Treasury or the Board
288: Interpretation
289: Commencement
290: Savings, transitionals, consequential amendments and repeals
291: Short title
Schedule A1: Disposals of UK residential property interests
Schedule B1: ...
Schedule BA1: ...
Schedule C1: ...
Schedule 1: UK resident individuals not domiciled in UK
Close section
Schedule 1A: Assets deriving 75% of value from UK land etc
Part 1: Introduction
Part 2: Whether asset derives at least 75% of its value from UK land
Part 3: Whether person has substantial indirect interest in UK land
Part 4: Anti-avoidance
Schedule 1B: Residential property gains
Schedule 1C: Annual exempt amount in cases involving settled property
Close section
Schedule 2: Assets held on 31st March 1982
Part I: Quoted securities
Part II: Land reflecting development value
Part III: Other assets
Part IV: Miscellaneous
Schedule 3: Deferred charges on gains before 31st March 1982
Schedule 4: Relevant high value disposals: gains and losses
Close section
Schedule 4AA: Re-basing for non-residents in respect of UK land etc held on 5 April 2019
Part 1: Introduction
Part 2: Indirect disposals and direct disposals not chargeable before 6 April 2019
Part 3: Direct disposals of Pre-April 2015 assets fully chargeable before 6 April 2019
Part 4: Direct disposals of assets partly chargeable before 6 April 2019
Part 5: Miscellaneous
Schedule 4ZZA: ...
Schedule 4ZZB: ...
Schedule 4ZZC: ...
Schedule 4ZA: Sub-Fund Settlements
Schedule 4A: Disposal of interest in settled property: deemed disposal of underlying assets Transfers of value by trustees linked with trustee borrowing
Schedule 4B: Transfers of value: attribution of gains to beneficiaries
Schedule 4C: Attribution of gains to settlors with interest in non-resident or dual resident settlement
Schedule 5: Settlements with Foreign Element: Information
Schedule 5A: Meaning of "scheme of reconstruction"
Close section
Schedule 5AAA: UK property rich collective investment vehicles etc
Part 1: Introduction: key expressions
Part 2: Basic rules
Part 3: Election for transparency
Part 4: Exemption
Part 5: Reporting and payment
Part 6: General
Part 7: Transitional provision
Schedule 5AZA: Meaning of "scheme of reconstruction"
Schedule 5AA: Meaning of "scheme of reconstruction"
Schedule 5B: Enterprise Investment Scheme: Re-investment Seed enterprise investment scheme: re-investment
Schedule 5BB: ...
Schedule 5BA: ...
Schedule 5C: ...
Schedule 6: Retirement relief etc.
Close section
Schedule 7: Relief for Gifts of Business Assets
Part I: Agricultural property and settled property
Part II: Reductions in held-over gain
Close section
Schedule 7ZA: Business asset disposal relief: "trading company" and "trading group"
Part 1: Meaning of "trading company" and "trading group"
Part 2: Joint venture companies
Part 3: Partnerships
Part 4: Interpretation of this schedule
Schedule 7ZB: Investors' Relief: disqualification of shares
Schedule 7A: Restriction on set-off of pre-entry losses ...
Schedule 7AA: ...
Schedule 7AB:
Close section
Schedule 7AC: Exemptions for disposals by companies with substantial shareholding
Part 1: The exemptions
Part 2: The substantial shareholding requirement
Part 3: Requirements to be met in relation to company invested in
Part 4: Interpretation
Part 5: Consequential provisions
Schedule 7AD: Gains of insurance company from venture capital investment partnership
Schedule 7B: ... Relief for transfers to Schedule 2 share plans
Schedule 7C: Share schemes and share incentives
Close section
Schedule 7D: Leases
Part 1: Schedule 2 share incentive plans
Part 2: Schedule 3 SAYE option schemes
Part 3: Schedule 4 CSOP schemes
Part 4: ...
Schedule 8: ...
Schedule 8A: Hold-over relief for gains re-invested in social enterprises
Schedule 8B: Gilt-edged securities
Close section
Schedule 9: Consequential amendments
Part I: General
Part II: Existing gilt-edged securities
Schedule 10: Transitional provisions and savings
Close section
Schedule 11: Transitional Provisions and Savings
Part I: Valuation
Part II: Other transitory provisions
Part III: Assets acquired before commencement
Part IV: Other general savings
Schedule 12: Repeals
Close section
Taxation (International and Other Provisions) Act 2010
Arrangement of sections
Close section
Part 1: Overview [s.1]
1: Overview of Act
Close section
Part 2: Double taxation relief [ss.2-104]
Close section
Chapter 1: Double taxation arrangements and unilateral relief arrangements [ss.2-17]
Double taxation arrangements
Unilateral relief arrangements
Close section
Chapter 2: Double taxation relief by way of credit [ss.18-104]
Effect to be given to credit for foreign tax allowed against UK tax
Interpretation of Chapter
Credits where same income charged to income tax in more than one tax year
Cases in which credit not allowed
Exceptions to requirement to be UK resident
Calculating income or gains in respect of which credit is allowed
Limits on credit: general rules
Limit on, and reduction of, credit against income tax
Limit on credit against capital gains tax
Limit on total credit against income tax and capital gains tax
Limit on credit against corporation tax
Calculating tax for purposes of section 42(2)
Allocation of deductions etc to profits for purposes of section 42
Taking account of foreign tax underlying dividends
Taking account of tax underlying dividends that is not foreign tax
Tax underlying dividend treated as underlying tax paid by dividend's recipient
Tax underlying dividends: restriction of relief, and particular cases
Adjustment of foreign tax on profits of overseas permanent establishment
Unrelieved foreign tax on profits of overseas permanent establishment
Action after adjustment of amount payable by way of UK or foreign tax
Schemes and arrangements designed to increase relief: anti-avoidance
Insurance companies
Close section
Chapter 3: Miscellaneous provisions [ss.105-134]
Application of Part for capital gains tax purposes
When foreign tax disregarded in applying Part for corporation tax purposes
Special rules for discretionary trusts
Deduction for foreign tax where no credit allowed
European cross-border transfers of business
European cross-border mergers
Transparent entities involved in cross-border transfers and mergers
Cross-border transfers and mergers: chargeable gains
Interpretation of sections related to the Mergers Directive
Cases about being taxed otherwise than in accordance with double taxation arrangements
The Arbitration Convention
International dispute-resolution instruments and agreements
Disclosure of information
Interpretation of double taxation arrangements
Assessments
Close section
Part 3: Double taxation relief for special withholding tax [ss.135-145]
Introductory
Credit etc for special withholding tax
Calculation of income or gain on remittance basis where special withholding tax levied
Certificates to avoid levy of special withholding tax
Close section
Part 4: Transfer pricing [ss.146-217]
Chapter 1: Basic transfer-pricing rule [ss.146-148]
Chapter 2: Key interpretative provisions [ss.149-164]
Chapter 3: Exemptions from basic rule [ss.165-173]
Chapter 4: Position, if only one affected person potentially advantaged, of other affected person [ss.174-190]
Chapter 5: Position of guarantor of affected person's liabilities under a security issued by the person [ss.191-194]
Chapter 6: Balancing payments [ss.195-204]
Chapter 7: Oil-related ring-fence trades [ss.205-206A]
Chapter 8: Supplementary provisions and interpretation of Part [ss.207-217]
Close section
Part 5: Advance pricing agreements [ss.218-230]
218: Meaning of "advance pricing agreement"
219: Meaning of "associate" in section 218(2)(e)
220: Effect of agreement on party to it
221: Effect of revocation of agreement or breach of its conditions
222: Effect of agreement on non-parties
223: Application for agreement
224: Provision in agreement about years ended or begun before agreement made
225: Modification and revocation of agreement
226: Annulment of agreement for misrepresentation
227: Penalty for misrepresentation in connection with agreement
228: Party to agreement: duty to provide information
229: Modifications of agreement for double taxation purposes
230: Interpretation of Part: meaning of "Commissioners" and "officer"
Close section
Part 6: ... [ss.231-259]
...
...
...
...
...
...
...
Close section
Part 6A: Hybrid and other mismatches [ss.259A-259NF]
Chapter 1: Introduction [s.259A]
Chapter 2: Key definitions [ss.259B-259BF]
Chapter 3: Hybrid and other mismatches from financial instruments [ss.259C-259CE]
Chapter 4: Hybrid transfer deduction/non-inclusion mismatches [ss.259D-259DF]
Chapter 5: Hybrid payer deduction/non-inclusion mismatches [ss.259E-259ED]
Chapter 6: Deduction/non-inclusion mismatches relating to transfers by permanent establishments [ss.259F-259FB]
Chapter 7: Hybrid payee deduction/non-inclusion mismatches [ss.259G-259GE]
Chapter 8: Multinational payee deduction/non-inclusion mismatches [ss.259H-259HC]
Chapter 9: Hybrid entity double deduction mismatches [ss.259I-259IC]
Chapter 10: Dual territory double deduction cases [ss.259J-259JD]
Chapter 11: Imported mismatches [ss.259K-259KC]
Chapter 12: Adjustments in light of subsequent events etc [ss.259L-259LA]
Chapter 12A: Allocation of dual inclusion income within group [ss.259ZM-259ZMF]
Chapter 13: Anti-avoidance [s.259M]
Chapter 13A: Special provision concerning transparent funds [ss.259MA-259MD]
Chapter 14: Interpretation [ss.259N-259NF]
Close section
Part 7: ... [ss.260-353B]
Chapter 1: ... [s.260]
Chapter 2: ... [ss.261-273A]
Chapter 3: ... [ss.274-285]
Chapter 4: ... [ss.286-298A]
Chapter 5: ... [ss.299-305]
Chapter 6: ... [ss.305A-312]
Chapter 7: ... [ss.313-328]
Chapter 8: ... [ss.329-331A]
Chapter 9: ... [ss.332-336A]
Chapter 10: ... [ss.337-353B]
Close section
Part 8: Offshore funds etc [ss.354-363A]
Tax treatment of participants in offshore funds
Supplementary
Close section
Part 9: Amendments to relocate provisions of tax legislation [ss.364-371]
364: Oil activities
365: Alternative finance arrangements
366: Power to amend the alternative finance provisions
367: Leasing arrangements: finance leases and loans
368: Sale and lease-back etc
369: Factoring of income etc
370: UK representatives of non-UK residents
371: Miscellaneous relocations
Close section
Part 9A: Controlled foreign companies [ss.371AA-371VJ]
Chapter 1: Overview [s.371AA]
Chapter 2: The CFC charge [ss.371BA-371BI]
Chapter 3: The CFC charge gateway: determining which (if any) of Chapters 4 to 8 applies [ss.371CA-371CG]
Chapter 4: The CFC charge gateway: profits attributable to UK activities [ss.371DA-371DL]
Chapter 5: The CFC charge gateway: non-trading finance profits [ss.371EA-371EE]
Chapter 6: The CFC charge gateway: trading finance profits [ss.371FA-371FE]
Chapter 7: The CFC charge gateway: captive insurance business [ss.371GA]
Chapter 8: The CFC charge gateway: solo consolidation [ss.371HA]
Chapter 9: Exemptions for profits from qualifying loan relationships [ss.371IA-371IJ]
Chapter 10: The exempt period exemption [ss.371JA-371JG]
Chapter 11: The excluded territories exemption [ss.371KA-371KJ]
Chapter 12: The low profits exemption [ss.371LA-371LC]
Chapter 13: The low profit margin exemption [ss.371MA-371MC]
Chapter 14: The tax exemption [ss.371NA-371NE]
Chapter 15: Relevant interests in a CFC [ss.371OA-371OE]
Chapter 16: Creditable tax of a CFC [s.371PA]
Chapter 17: Apportionment of a CFC's chargeable profits and creditable tax [ss.371QA-371QG]
Chapter 18: Control etc [ss.371RA-371RG]
Chapter 19: Assumed taxable total profits, assumed total profits and the corporation tax assumptions [ss.371SA-371SR]
Chapter 20: Residence of CFCs [ss.371TA-371TC]
Chapter 21: Management [ss.371UA-371UF]
Chapter 22: Supplementary provision [ss.371VA-371VJ]
Close section
Part 10: Corporate interest restriction [ss.372-498]
Close section
Chapter 1: Introduction [ss.372-374]
372: Overview
373: Meaning of "subject to interest restrictions", "the total disallowed amount" etc
374: Interest restriction returns
Close section
Chapter 2: Disallowance and reactivation of tax-interest expense amounts [ss.375-381]
375: Disallowance of deductions: full interest restriction return submitted
376: Disallowance of deductions: no return, or non-compliant return, submitted
377: Disallowance of deductions: identification of the tax-interest amounts to be left out of account
378: Disallowed tax-interest expense amounts carried forward
379: Reactivation of interest
380: Reactivation of deductions: identification of the tax-interest amounts to be brought into account
381: Set-off of disallowances and reactivations in the same accounting period
Close section
Chapter 3: Tax-interest amounts [ss.382-391A]
Tax-interest expense and income amounts: basic rules
Double taxation relief
Net tax-interest expense
Close section
Interpretation
391: Meaning of "impairment loss"
391A: Amounts capitalised in carrying value of intangible fixed assets
Chapter 4: Interest capacity [ss.392-395A]
Chapter 5: Interest allowance [ss.396-404]
Chapter 6: Tax-EBITDA [ss.405-409]
Close section
Chapter 7: Group-interest and group-EBITDA [ss.410-431]
Group-interest
Group-EBITDA
Treatment of derivative contracts in financial statements of worldwide group
Effect of group-EBITDA (chargeable gains) election
Effect of interest allowance (alternative calculation) election
Effect of interest allowance (non-consolidated investment) election
Effect of interest allowance (consolidated partnerships) election
Interpretation
Close section
Chapter 8: Public infrastructure [ss.432-449]
Overview
Key concepts
Exemption and related provision
Supplementary
Chapter 9: Cases involving particular types of company or business [ss.450-460]
Chapter 10: Anti-avoidance [s.461]
Close section
Chapter 11: Interpretation etc [ss.462-498]
Related parties
Determining the worldwide group
Financial statements and periods of account
Other definitions
Regulations
Close section
Part 11: General provisions [ss.499-507]
Subordinate legislation
Interpretation
Final provisions
Schedule 1: Oil activities: new Chapter 16 Aof Part 2 of ITTOIA 2005
Close section
Schedule 2: Alternative finance arrangements
Part 1: New Part 10A of ITA 2007
Part 2: New Chapter 4 of Part 4 of TCGA 1992
Part 3: Other amendments
Close section
Schedule 3: Leasing arrangements: finance leases and loans
Part 1: New Part 11A of ITA 2007
Schedule 4: Sale and lease-back etc: new Part 12A of ITA 2007
Schedule 5: Factoring of income etc: new Chapters 5 Band 5C of Part 13 of ITA 2007
Close section
Schedule 6: UK Representatives of non-UK residents
Part 1: New Chapters 2B and 2C of Part 14 of ITA 2007
Part 2: New Part 7A of TCGA 1992
Close section
Schedule 7: Miscellaneous relocations
Part 1: Relocation of section 38 of, and Schedule 15 to, FA 1973
Part 2: Relocation of section 24 of FA 1974
Part 3: Relocation of section 42 of ICTA
Part 4: Relocation of section 84A of ICTA
Part 5: Relocation of section 152 of ICTA
Part 6: Relocation of section 337A(2) of ICTA
Part 7: Relocation of section 475 of ICTA
Part 8: Relocation of section 700 of ICTA
Part 9: Relocation of section 787 of ICTA
Part 10: Relocation of sections 130 to 132 of FA 1988
Part 11: Relocation of section 151 of FA 1989
Part 12: Relocation of Schedule 12 to F(No.2)A 1992 so far as applying for income tax purposes
Part 13: Relocation of section 200 of FA 1996 so far as applying for income tax purposes
Part 14: Relocation of section 36 of FA 1998 and section 111 of FA 2009
Part 15: Relocation of section 118 of FA 1998
Part 16: Relocation of section 144 of FA 2000
Part 17: Relocation of section 199 of FA 2003
Part 18: Relocation of section 61 of F(No.2)A 2005
Part 19: Relocation of paragraph 13 of Schedule 13 to FA 2007
Close section
Schedule 7A: Interest restriction returns
Part 1: The reporting company
Part 2: Contents of interest restriction return
Part 3: Duty to keep and preserve records
Part 4: Enquiry into interest restriction return
Part 5: Determinations by officers of revenue and customs
Part 6: Information powers exercisable by members of group
Part 7: Information powers exercisable by officers of revenue and customs
Part 8: Company tax returns
Part 9: Supplementary
Close section
Schedule 8: Minor and consequential amendments
Part 1: Double taxation relief
Part 2: Transfer pricing and advance pricing agreements
Part 3: Tax arbitrage
Part 4: Tax treatment of financing costs and income
Part 5: Offshore funds
Part 6: Oil activities
Part 7: Alternative finance arrangements
Part 8: Leasing arrangements: finance leases and loans
Part 9: Sale and lease-back etc
Part 10: Factoring of income etc
Part 11: UK representatives of non-UK residents
Part 12: Amendments for purposes connected with other tax law rewrite Acts
Part 13: General Taxes Management Act 1970 (c. 9)
Close section
Schedule 9: Transitionals and savings etc
Part 1: General provisions
Part 2: Changes in the law
Part 3: Double taxation relief
Part 4: Transfer pricing
Part 5: Advance pricing agreements
Part 6: Tax avoidance (arbitrage)
Part 7: ...
Part 8: Offshore funds
Part 9: Oil activities
Part 10: Alternative finance arrangements
Part 11: Sale and lease-back etc
Part 12: Factoring of income etc
Part 13: Miscellaneous relocations
Close section
Schedule 10: Repeals and revocations
Part 1: Double taxation relief
Part 2: Transfer pricing and advance pricing agreements
Part 3: Tax arbitrage
Part 4: Tax treatment of financing costs and income
Part 5: Offshore funds
Part 6: Oil activities
Part 7: Alternative finance arrangements
Part 8: Leasing arrangements: finance leases and loans
Part 9: Sale and lease-back etc
Part 10: Factoring of income etc
Part 11: UK representatives of non-UK residents
Part 12: Miscellaneous relocations
Part 13: Repeals for purposes connected with other tax law rewrite Acts
Close section
Schedule 11: Index of defined expressions used in Parts 2 to 8
Part 1: Double taxation relief: index of defined expressions used in Parts 2 and 3
Part 2 : Transfer pricing: index of defined expressions used in Part 4
Part 3 : Advance pricing agreements: index of defined expressions used in Part 5
Part 4 : ...
Part 4A: Hybrid and other mismatches: index of defined expressions used in Part 6A
Part 5 : ...
Part 6 : Offshore funds: index of defined expressions used in Part 8
Part 7 : Corporate interest restriction: index of defined expressions used in Part 10
Close section
Taxes Management Act 1970
Arrangement of sections
Close section
Part I: Administration [ss.1-6]
1: Responsibility for certain taxes
2: ...
2A: ...
3: ...
3A: ...
4 ...
4A: ...
5: ...
6: ...
Close section
Part II: Returns of Income and Gains [ss.7-12B]
Income tax [ss.7-9D]
... [ss.10-11AE]
... [s.12]
... [ss.12ZA-12ZN]
Partnerships [ss.12AA-12AE]
UK Economic Interest Groupings and European Economic Interest Groupings
Records
Digital reporting and record-keeping
Voluntary returns
Close section
Part III: Other Returns and Information [ss.13-28]
13: ...
14: ...
15: ...
15A: ...
16: ...
16A: ...
17: ...
18: ...
18A: ...
18B: Savings income: regulations about European and international aspects
18C: Regulations under section 18B: provision about "paying agents"
18D: Content of regulations under section 18B: supplementary provision
18E: Interpretation of sections 18B to 18D: "prescribed" etc
19: ...
Production of accounts, books and other information [ss.19A-21]
... [ss.22-24]
Close section
Part IIIA: Referral of questions during enquiry [ss.28ZA-28ZE]
28ZA: Referral of questions during enquiry
28ZB: Withdrawal of notice of referral
28ZC: ...
28ZD: Effect of referral on enquiry
28ZE: Effect of determination
Close section
Part IV: Assessment and Claims [ss.28A-43F]
28A: Completion of enquiry into personal or trustee return
28AA: ...
28AB: ...
28B: Completion of enquiry into partnership return
28C: Determination of tax where no return delivered
28D: ...
28E: ...
28F: ...
28G: ...
28H: Simple assessments by HMRC: personal assessments
28I: Simple assessments by HMRC: trustees
28J: Power to withdraw a simple assessment
29: Assessment where loss of tax discovered.
29A: ...
30: Recovery of overpayment of tax, etc.
30A: Assessing procedure.
30AA: Assessing income tax on trustees and personal representatives
30B: Amendment of partnership statement where loss of tax discovered.
30C: Transfer pricing records: carelessness for the purposes of section 29.
30D: Transfer pricing records: carelessness for the purposes of section 30B.
31: Appeals: right of appeal
31A: Appeals: notice of appeal
31AA: Taxpayer's right to query simple assessment
31B: ...
31C: ...
31D: ...
Overpaid tax, excessive assessments etc [ss.32-33]
Time limits [ss.34-41C]
Claims [ss.42-43F]
Close section
Part V: Appeals and Other Proceedings [ss.44-59]
Jurisdiction [ss.44-47B]
Appeals [ss.47C-56D]
Chargeable gains [s.57]
... [ss.58-59]
Close section
Part VA: Payment of Tax [ss.59A-59H]
59A: Payments on account of income tax.
59AZA: Payments on account of capital gains tax: disposals of land etc
59AA: ...
59AB: Amounts payable on account: recovery
59B: Payment of income tax and capital gains tax: assessments other than simple assessments
59BA: Payment of income tax and capital gains tax: simple assessments
59BB: CGT exit charge payment plans
59C: ...
Corporation tax [ss.59D-59FA]
Managed payment plans [ss.59G-59H]
Close section
Part VI: Collection and Recovery [ss.60-70A]
60: Issue of demand notes and receipts
Distraint and poinding [ss.61-64]
Court proceedings [ss.65-68]
Supplemental [ss.69-70A]
Close section
Part VII: Persons Chargeable in a Representative Capacity, etc. [ss.71-77A]
Income tax [ss.71-76]
Capital gains tax [ss.77-77A]
Close section
Part VIIA: Holders of licences under the Petroleum Act 1998 [ss.77B-77K]
Licence-holders' liabilities for tax assessed on non-UK residents [ss.77B-77E]
Exemption certificates [ss.77F-77G]
Supplementary [ss.77H-77K]
Close section
Part VIII: ... [ss.78-85A]
78: ...
79: ...
80: ...
81: ...
82: ...
83: ...
84: ...
85: ...
85A: ...
Close section
Part IX: Interest on Overdue Tax [ss.86-92]
86: Interest on overdue income tax and capital gains tax.
86A: ...
87: Interest on overdue income tax deducted at source
87A: Interest on overdue corporation tax etc.
88: ...
88A: ...
89: ...
90: Interest on tax payable gross
91: Effect on interest of reliefs
91A: ...
92: Remission in certain cases of interest on tax in arrear by reason of exchange restrictions
Close section
Part X: Penalties, etc. [ss.93-107A]
93: ...
93A: ...
94: ...
95: ...
95A: ...
96: ...
97: ...
97AA: ...
97A: Two or more tax-geared penalties in respect of same tax
98: Special returns, etc.
98A: Special penalties in the case of certain returns.
98B: UK Economic Interest Groupings and European Economic Interest Groupings.
98C: Notification under Part 7 of Finance Act 2004
99: ...
99A: Certificates of non-liability to income tax.
99B: Declarations under Chapter 2 of Part 15 of ITA 2007
100: Determination of penalties by officer of Board.
100A: Provisions supplementary to section 100.
100B: Appeals against penalty determinations.
100C: Penalty proceedings before First-tier Tribunal.
100D: Penalty proceedings before court.
101: Evidence for purposes of proceedings relating to penalties.
102: Mitigation of penalties
103: Time limit for recovery of penalties
103ZA: Disapplication of sections 100 to 103 in the case of certain penalties
103A: Interest on penalties.
104: Saving for criminal proceedings
105: Admissibility of evidence not affected by offer of settlement etc
106: Refusal to allow a deduction of income tax, and avoidance of agreements for payment without deduction
Evasion
Offshore income, assets and activities
Scotland
Settlements
Close section
Part XI: Miscellaneous and Supplemental [ss.108-118]
Companies
Companies ceasing to be UK resident
Documents
Northern Ireland
Interpretation
Close section
Part XII: General [ss.119-120]
119: Commencement and construction
120: Short title
Close section
Schedule 1:
Part I
Part II
Part III
Schedule A1: Digital reporting and record-keeping
Close section
Schedule 1AA: Orders for production of documents
Introduction
Authorised officer of the Board
Notice of application for order
Obligations of person given notice of application
Exception of items subject to legal privilege
Resolution of disputes as to legal privilege
Complying with an order
Procedure where documents are delivered
Sanction for failure to comply with order
Notice of order etc.
General provisions about regulations
Close section
Schedule 1AB: Recovery of overpaid tax etc
Claim for relief for overpaid tax etc
Cases in which Commissioners not liable to give effect to claim
Making a claim
Determinations under section 28C: special rules
The claimant: one person accountable for amounts payable by another etc
The claimant: partnerships
Assessment of claimant in connection with claim
Amendment of partnership return etc in connection with claim
Contract settlements
Interpretation
Close section
Schedule 1A: Claims etc. not Included in Returns
Preliminary
Making of claims
Keeping and preserving of records
Amendments of claims
Giving effect to claims and amendments
Power to enquire into claims
Completion of enquiry into claim
Giving effect to such amendments
Appeals against such amendments
Close section
Schedule 1B: Claims for relief involving two or more years
Preliminary
Loss relief
Relief for fluctuating profits of farming etc.
Relief claimed by virtue of section 224(4) of ITTOIA 2005
Carry-back of post-cessation etc. receipts
Schedule 2: ...
Schedule 3: ...
Close section
Schedule 3ZA: DATE BY WHICH PAYMENT TO BE MADE AFTER AMENDMENT OR CORRECTION OF SELF-ASSESSMENT
General
Amendment of personal or trustee return by the taxpayer
Correction of personal or trustee return by Revenue
Amendment of personal or trustee return to prevent loss of tax
Amendment of personal or trustee return by closure notice
Amendment consequential on amendment of partnership return by taxpayer
Amendment consequential on correction of partnership return by Revenue or tribunal determination of partnership dispute
Amendment consequential on amendment of partnership return by closure notice
Amendment consequential on amendment of partnership return to prevent loss of tax
Amendment consequential on reduction or increase on appeal of amounts stated in partnership statement
Close section
Schedule 3ZAA: CGT exit charge payment plans
Introduction
Eligibility
Tax to which a plan relates
Payment by instalments
Entering into a plan
Contents of a plan
Effect of a plan
Supplementary
Close section
Schedule 3ZB: CT exit charge payment plans
Part 1: company ceasing to be resident in UK
Part 2: Non-UK resident companies with UK permanent establishments
Part 3: Entering into a CT exit charge payment plan
Close section
Schedule 3ZC: CT Payment plans for tax on certain transactions with EEA residents
Introduction
Qualifying corporation tax
Qualifying transactions
Eligibility to enter a CT payment plan
Application to enter a CT payment plan
Entering into a CT payment plan
Content of CT payment plan
Effect of CT payment plan
The payment method: instalments
The payment method: all of outstanding balance due
All of outstanding balance attributable to particular qualifying transaction due
Part of outstanding balance attributable to particular qualifying transaction due
Close section
Schedule 3A: Electronic lodgement of tax returns, etc.
Part I: Tax returns: general
Part II: Documents supporting certain tax returns
Part III: The conditions
Part IV: Hard copies of information transmitted
Part V: Status of information
Close section
Schedule 4: Savings and Transitory Provisions
Declaration of secrecy
Information about interest paid or credited without deduction of tax by banks, etc.
Assessments
Claims
Choice of Commissioners to hear proceedings
Settling of appeals by agreement
Interest on tax
Penalties, etc.
11
12
Northern Ireland
Close section
Value Added Tax Act 1994
Arrangement of sections
Close section
Part I: The charge to tax [ss.1-29]
Imposition and rate of VAT [ss.1-3A]
Supply of goods or services in the United Kingdom [ss.4-9A]
...
...
Importation of goods [ss.15-17]
Goods subject to a warehousing regime [ss.18-18F]
Determination of value [ss.19-23A]
Payment of VAT by taxable persons [ss.24-29]
Close section
Part II: Reliefs, exemptions and repayments [ss.29A-40]
Reliefs etc. generally available [ss.29A-36]
...
Imports, overseas businesses etc [ss.37-40]
Close section
Part III: Application of Act in particular cases [ss.40A-57A]
40A: Northern Ireland Protocol
41: Application to the Crown
41A: Supply of goods or services by public bodies
42: Local authorities
43: Groups of companies
43A: Groups: eligibility
43AZA: Section 43A: control test
43AA: Power to alter eligibility for grouping
43B: Groups: applications
43C: Groups: termination of membership
43D: Groups: duplication
44: Supplies to groups
45: Partnerships
46: Business carried on in divisions or by unincorporated bodies, personal representatives etc
47: Agents etc
48: VAT representatives and security
49: Transfers of going concerns
50: Terminal markets
50A: Margin schemes
50B: Margin schemes and export or removal of goods
51: Buildings and land
51A: ...
51B: Face-value vouchers issued before 1 January 2019
51C: Vouchers issued on or after 1 January 2019
51D: Postage stamps issued on or after 1 January 2019
52: Trading stamp schemes
53: Tour operators
54: Farmers etc
55: Customers to account for tax on supplies of gold etc
55A: Customers to account for tax on supplies of goods or services of a kind used in missing trader fraud
55B: Deposit schemes: designation
55C: Deposit schemes: value of supply
55D: Deposit schemes: liability to account for VAT on deposit amounts
56: ...
57: ...
57A: Importation following zero-rated free zone supply: deemed supply
Close section
Part IV: Administration, collection and enforcement [ss.58-81]
General administrative provisions [ss.58-58ZA]
Disclosure of avoidance schemes [ss.58A-58B]
Penalties and criminal offences [ss.59-72]
Assessments of VAT and other payments due [ss.73-77]
Liability for unpaid VAT of another [ss.77A]
Online marketplaces [ss.77B-77E]
Liability of operators of online marketplaces for VAT in cases of deemed supply [s.77F]
Interest, repayment supplements etc. payable by Commissioners [ss.78-81]
Close section
Part V: Appeals [ss.82-87]
82: Meaning of "tribunal
83: Appeals
83A: Offer of review
83B: Right to require review
83C: Review by HMRC
83D: Extensions of time
83E: Review out of time
83F: Nature of review etc
83FA: Nature of review: penalties under Schedule 24 to FA 2021
83FB: Effect of conclusions of review: penalties under Schedule 24 to FA 2021
83G: Bringing of appeals
84: Further provisions relating to appeals
85: Settling appeals by agreement
85A: Payment of tax on determination of appeal
85B: Payment of tax where there is a further appeal
86: ...
87: ...
Close section
Part VI: Supplementary provisions [ss.88-102]
Change in rate of VAT etc. and disclosure of information [ss.88-91]
Interpretative provisions [ss.92-96]
Supplementary provisions [ss.97-102]
Schedule A1: ...
Close section
Schedule 1: Registration in respect of taxable supplies: UK establishment
Liability to be registered
Notification of liability and registration
Entitlement to be registered
Notification of end of liability or entitlement etc
Cancellation of registration
Exemption from registration
Power to vary specified sums by order
Supplementary
Close section
Schedule 1A: Registration in respect of supplies from other member States
1
2
3
4
Notification of liability and registration
Notification of end of liability
Cancellation of registration
Exemption from registration
Supplementary
Schedule 2: ...
Schedule 3: ...
Close section
Schedule 3A: Registration in respect of disposals of assets for which a VAT repayment is claimed
Liability to be registered
Notification of liability and registration
Notification of end of liability
Cancellation of registration
Exemption from registration
Supplementary
Schedule 3B: ...
Schedule 3BA: ...
Close section
Schedule 4: Matters to be treated as supply of goods or services
1
2
3
4
5
6
7
8
9
Close section
Schedule 4A: Place of supply of services: special rules
Part 1: General exceptions
Part 2: Exceptions relating to supplies made to relevant business person
Part 3: Exceptions relating to supplies not made to relevant business person
Schedule 4B: ...
Schedule 5: ...
Schedule 5A: Goods Eligible to be Fiscally Warehoused
Close section
Schedule 6: Valuation: special cases
Part 1: Valuation of supplies of fuel for private use
Part 2: Other provisions
Schedule 7: ...
Close section
Schedule 7A: Charge at Reduced Rate
Part 1: Index to Reduced-Rate Supplies of Goods and Services
Close section
Part 2: The Groups
Group 1: -Supplies of domestic fuel or power
Group 2: Installation of energy-saving materials from 1st April 2027
Group 3: -Grant-funded installation of heating equipment or security goods or connection of gas supply
Group 4: ...
Group 5: -Children's car seats
Group 6: -Residential conversions
Group 7: -Residential Renovations and Alterations
Group 8: -Contraceptive Products
Group 9: -Welfare Advice or Information
Group 10: -Installation of Mobility Aids for the Elderly
Group 11: -Smoking Cessation Products
Group 12: -Caravans
Group 13: -Cable-Suspended Passenger Transport Systems
Close section
Schedule 8: Zero-rating
Part I: Index to zero-rated supplies of goods and services
Part II: The Groups
Close section
Schedule 9: Exemptions
Part I: Index to exempt supplies of goods and services
Part II: The Groups
Close section
Schedule 9ZA: VAT on acquisitions in Northern Ireland from member States
Part 1: Charge to VAT for acquisitions in Northern Ireland from member States
Part 2: Valuation of acquisitions
Part 3: Payment of NI acquisition VAT by taxable persons
Part 4: Reliefs etc
Part 5: Application of Act to acquisitions in particular cases
Part 6: Administration, collection and enforcement
Part 7: Appeals and supplementary provision
Part 8: Registration in respect of acquisitions from member States
Part 9: Registration in respect of distance sales from the EU to Northern Ireland
Part 10: Call-off stock arrangements
Part 11: Modification of other Schedules
Part 12: Modification of other Acts
Part 13: Interpretive provisions
Close section
Schedule 9ZB: Goods removed to or from Northern Ireland and supply rules
Part 1: Importations
Part 2: Movements between Northern Ireland and Great Britain
Part 3: Modifications in relation to exports
Part 4: Warehouses
Part 5: Rules relating to particular supplies
Part 6: Northern Ireland and the Isle of Man
Part 7: Supplies from a member State to Great Britain via Northern Ireland: registration
Close section
Schedule 9ZC: Online sales by overseas persons and low value importations: modifications relating to the Northern Ireland Protocol
Part 1: Modification of this Act
Part 2: Modification of the Value Added Tax (Imported Goods) Relief Order 1984
Part 2A: Modification of the Value Added Tax Regulations 1995
Part 3: Registration
Close section
Schedule 9ZD: Distance selling of goods from Northern Ireland: special accounting scheme
Part 1: Introduction
Part 2: Registration
Part 3: Liability, returns, payment etc
Part 4: Persons registered under non-UK special accounting schemes
Part 5: Collection of UK VAT
Part 6: Appeals
Part 7: Interpretation
Close section
Schedule 9ZE: Distance selling of goods imported to Northern Ireland: special accounting scheme
Part 1: Introduction
Part 2: Registration
Part 3: Liability, returns, payment etc
Part 4: Collection etc of UK VAT
Part 5: IOSS representatives
Part 6: Supplementary provision
Part 7: Appeals
Part 8: Interpretation
Close section
Schedule 9ZF: Modifications etc in connection with Schedules 9ZD and 9ZE
Part 1: Modifications of this Act
Part 2: Modifications etc of other Acts
Part 3: Modifications of secondary legislation
Close section
Schedule 9A: Anti-avoidance provisions: groups
Power to give directions
Restrictions on giving directions
Form of directions under Schedule
Time limit on directions
Manner of giving directions
Assessment in consequence of a direction
Interpretation of Schedule etc.
Close section
Schedule 10: Buildings and land
Part 1: The option to tax land
Part 2: Residential and charitable buildings: change of use etc
Part 3: General
Close section
Schedule 10A: Face-value vouchers issued before 1 January 2019
Meaning of "face-value voucher" etc
Nature of supply
Treatment of credit vouchers
Treatment of retailer vouchers
Treatment of postage stamps
Treatment of other kinds of face-value voucher
Vouchers supplied free with other goods or services
Exclusion of single purpose vouchers
Interpretation
Close section
Schedule 10B: VAT treatment of vouchers issued on or after 1 January 2019
Meaning of "voucher"
Meaning of related expressions
VAT treatment of vouchers: general rule
Single purpose vouchers: special rules
Multi-purpose vouchers: special rules
Intermediaries
Composite transactions
Close section
Schedule 11: Administration, collection and enforcement
General
Accounting for VAT and payment of VAT
VAT invoices
Self-billed invoices
Electronic communication and storage of VAT invoices etc
Power to require security and production of evidence
Recovery of VAT, etc
Duty to keep records
Furnishing of information and production of documents
Power to take samples
Power to require opening of machines on which relevant machine games are played
Order for access to recorded information etc.
Procedure where documents etc. are removed
Evidence by certificate, etc
Close section
Schedule 11A: Disclosure of Avoidance Schemes
Interpretation
Obtaining a tax advantage
Meaning of "non-deductible tax"
Designation by order of avoidance schemes
Designation by order of provisions included in or associated with avoidance schemes
Meaning of "notifiable scheme"
Duty to notify Commissioners
Exemptions from duty to notify under paragraph 6
Power to exclude exemption
Voluntary notification of avoidance scheme that is not designated scheme
Penalty for failure to notify use of notifiable scheme
Amount of penalty
Penalty assessments
Penalty assessments
Schedule 12: ...
Close section
Schedule 13: Transitional provisions and savings
General provisions
Validity of subordinate legislation
Provisions related to the introduction of VAT
Supply in accordance with pre-21.4.75 arrangements
President, chairmen etc of tribunals
Overseas suppliers accounting through their customers
Zero-rated supplies of goods and services
Bad debt relief
Offences and Penalties
Importation of goods
Assessments
Set-off of credits
VAT tribunals
Isle of Man
Close section
Schedule 14: Consequential amendments
Diplomatic Privileges Act 1964 c. 81
Commonwealth Secretariat Act 1966 c. 10
Consular Relations Act 1968 c. 18
International Organisations Act 1968 c. 48
Diplomatic and other Privileges Act 1971 c. 64
Customs and Excise Management Act 1979 c. 2
Isle of Man Act 1979 c. 58
Income and Corporation Taxes Act 1988 c. 1
Finance Act 1994 c. 9
Vehicle Excise and Registration Act 1994 c. 22
Close section
Schedule 15: Repeals
TABLE OF DERIVATIONS: Notes:
Close section
Finance Act 1986
Close section
PART I: Customs and Excise and Value Added Tax
Chapter I: Customs and Excise
Chapter II: Value Added Tax
Close section
Part II: Income Tax, Corporation Tax and Capital Gains Tax
Chapter I: General
Chapter II:
Chapter III:
Chapter IV:
Close section
PART III: Stamp Duty
Securities
Depositary receipts
Clearance services
Transfers between depositary receipt system and clearance system
Reconstructions and acquistions
Loan capital, letters of allotment etc.
Resolution of financial institutions
Close section
Part IV: Stamp Duty Reserve Tax
Introduction
The principal charge
Other charges
General
Close section
PART V: Inheritance Tax
100: Capital transfer tax to be known as inheritance tax.
101: Lifetime transfers potentially exempt etc.
102: Gifts with reservation.
102ZA: Gifts with reservation: termination of interests in possession
102A: Gifts with reservation: interest in land.
102B: Gifts with reservation: share of interest in land.
102C: Sections 102A and 102B: supplemental.
103: Treatment of certain debts and incumbrances.
104: Regulations for avoiding double charges etc.
105: Application of business and agricultural relief where transfer partly exempt.
106: Changes in financial institutions business property.
107: Changes in financial institutions: interest.
Close section
PART VI: Oil Taxation
108: The on-shore/off-shore boundary.
109: Alternative valuation of light gases.
110: Attribution of certain receipts and expenditure between oil fields.
Close section
Part VII: Miscellaneous and Supplementary
111: Broadcasting: additional payments by programme contractors.
112: Limit for local loans.
113: "Securities" for purposes of Exchange Equalisation Account Act 1979.
114: Short title, interpretation, construction and repeals.
SCHEDULE 1:
Close section
SCHEDULE 2: Vehicles Excise Duty: Miscellaneous Amendments
Part I:
Part II:
SCHEDULE 3: Warehousing Regulations
Close section
SCHEDULE 4: Extension to Northern Ireland of Provisions of Betting and Gaming Duties Act 1981
Part I: Amendments of the Betting and Gaming Duties Act 1981
Part II: Consequential Amendments of Northern Ireland Legislation
Part III: Subordinate Legislation
Close section
SCHEDULE 5: Licences Under the Customs and Excise Acts
General provisions as to payment of duty on excise licences
Licences to manufacture spirits
Licences relating to hydrocarbon oil etc.
Licences to manufacture mechanical lighters
SCHEDULE 6:
SCHEDULES 7, 8:
Close section
SCHEDULE 9: Business Expansion Scheme
Part I:
Part II: Consequential Amendments
SCHEDULES 10-12:
SCHEDULES 13-16:
SCHEDULE 17:
Close section
SCHEDULE 18: Securities: Other Provisions
Information
General
Close section
SCHEDULE 19: INHERITANCE TAX
PART I: AMENDMENTS OF 1984 ACT
PART II: TRANSITIONAL PROVISIONS
Close section
SCHEDULE 20: GIFTS WITH RESERVATION
Interpretation and application
Donee predeceasing the material date
Termination of interests in possession
Settled gifts
Exclusion of benefit
Agricultural property and business property
Close section
SCHEDULE 21: Modifications of Finance Act 1982, Schedule 18 in Relation to Elections Under Section 109 of this Act
General modifications
Specific modifications
Close section
SCHEDULE 22: Broadcasting: Additional Payments by Programme Contractors
Part I: Amendment of Broadcasting Act 1981
PART II: Transitional Provisions
Close section
SCHEDULE 23: Repeals
Part I: Customs and Excise: Miscellaneous
Part II: Vehicles Excise Duty
Part III: Betting and Gaming Duties
Part IV: Licences Under the Customs and Excise Acts
Part V: Income Tax and Corporation Tax: General
Part VI: Income Tax and Corporation Tax: Capital Allowances
Part VII: Capital Gains
Part VIII: Securities
Part IX: Stamp Duty
Part X: Inheritance Tax
Part XI: Broadcasting: Additional Payments by Programme Contractors
Close section
Finance Act 1998
Close section
Part I: Excise Duties
Alcoholic liquor duties
Hydrocarbon oil duties
Tobacco products duty
Gaming duty
Amusement machine licence duty
Air passenger duty
Vehicle excise duty
Assessments
Close section
Part II: Value Added Tax
21: Deemed supplies.
22: Changes of place of supply: transitional.
23: Bad debt relief.
24: Long leases in Scotland.
Close section
Part III: Income Tax, Corporation Tax and Capital Gains Tax
Chapter I: Income Tax and Corporation Tax
Chapter II: Taxation of Chargeable Gains
Close section
Part IV: Inheritance Tax etc.
142: Property of historic interest etc.
143: Removal of exemption for gifts for public benefit.
144: Maintenance funds for historic buildings, etc.
145:
Close section
Part V: Other Taxes
Insurance premium tax
Landfill tax
Stamp duty
Stamp duty reserve tax
Petroleum revenue tax etc.
Dumping duties
Close section
Part VI: Miscellaneous and Supplemental
Government borrowing
The European single currency
Supplemental
SCHEDULES:
SCHEDULE 1: Rates of duty where pollution reduced
SCHEDULE 2: Assessments for excise duty purposes
SCHEDULE 3: Advance corporation tax
SCHEDULE 4: Interest payable under the Tax Acts by or to companies
Close section
SCHEDULE 5: Rent and other receipts from land
Part I: Main charging provisions
Part II:
Part III: Minor and consequential amendments
Part IV: Transitional provisions for corporation tax
SCHEDULE 6:
SCHEDULE 7: Removal of unnecessary references to gains
SCHEDULE 8:
SCHEDULE 9:
SCHEDULE 10:
SCHEDULE 11:
SCHEDULE 12:
Close section
SCHEDULE 13: Changes to EIS etc
Part I:
Part II: EIS relief against chargeable gains
Part III: EIS deferral of chargeable gains
Part IV: BES income tax relief and relief against chargeable gains
SCHEDULE 14: Life policies, life annuities and capital redemption policies
SCHEDULE 15:
SCHEDULE 16:
SCHEDULE 17: Controlled foreign companies
Close section
SCHEDULE 18: Company tax returns, assessments and related matters
Part I: Introduction
Part II: Company tax return
Part III: Duty to keep and preserve records
Part IV: Enquiry into company tax return
Part V: Revenue determinations and assessments
Part VI: Overpaid tax, excessive assessments or repayments, etc
Part VII: General provisions as to claims and elections
Part VIII: Claims for group relief and group relief for carried-forward losses
PART 8A: Claims for allocation of surplus dual inclusion income
Part IX: Claims for capital allowances
Part IXA: Claims for R&D expenditure credits or R&D tax relief
Part 9B: Claims relating to remediation of contaminated or derelict land
PART 9BA:
PART 9C:
PART 9D: Claims for tax relief under Part 15, 15A, 15B, 15C, 15D or 15E of the Corporation Tax Act 2009
PART 9E: Designation of losses as unrestricted losses for the purposes of Chapter 3 of Part 7A of the Corporation Tax Act 2010
Part X: Special provisions
PART 10A: SEs
Part XI: Supplementary provisions
SCHEDULE 19: Company tax returns, etc.: minor and consequential amendments
SCHEDULE 20:
SCHEDULE 21: Amendments in connection with taper relief
SCHEDULE 22: Transitional provision and consequential amendments for section 131
SCHEDULE 23: Transitional provision in connection with section 132
SCHEDULE 24:
SCHEDULE 25: Property of historic interest etc
SCHEDULE 26: National loans
Close section
SCHEDULE 27: Repeals
Part I: Excise duties
Part II: Value added tax
Part III: Income tax, corporation tax and capital gains tax
Part IV: Inheritance tax
Part V: Other taxes
Part VI: Miscellaneous
Close section
Finance Act 2000
Close section
Part I: Excise duties
Alcoholic liquor duties
Hydrocarbon oil duties
Tobacco products duty
Gaming duty
Amusement machine licence duty
Air passenger duty
Vehicle excise duty
Enforcement of duties
Close section
Part II: Climate change levy
30: Climate change levy.
Close section
Part III: Income Tax, Corporation Tax and Capital Gains Tax
Chapter I: Charge and rates
Chapter II: Other provisions
Close section
Part IV: Stamp duty and Stamp duty reserve tax
Stamp duty
Stamp duty and Stamp duty reserve tax
Close section
Part V: Other taxes
Value added tax
Inheritance tax
Petroleum revenue tax
Landfill tax
Close section
Part VI: Miscellaneous and supplementary provisions
Incentives for electronic communications
Compliance
Provisions relating to government finance
Supplementary provisions
SCHEDULES:
Close section
SCHEDULE 1: Mixing of rebated light oils
Converting unleaded petrol into leaded petrol
Mixing different kinds of unleaded petrol
Close section
SCHEDULE 2: Amusement machine licence duty
Introduction
Exceptions from requirement to be licensed
Amusement machine licence duty
Amount of duty
Meaning of amusement machine
Supplementary provisions
Paragraphs 2 to 6: commencement
Seasonal licences: duration
Unlicensed amusement machines: duty chargeable
SCHEDULE 3: Vehicle excise duty on new cars and vans
Close section
SCHEDULE 4: Vehicle excise duty: enforcement provisions for graduated rates
Introduction
Particulars to be furnished on application for licence
Power to require evidence in support of application
Powers exercisable where licence issued on basis of incorrect application
Power to declare licence void
Power to require payment of balance of duty
Power to require delivery up of licence
Power to require delivery up of licence and payment in respect of duty
Failure to deliver up licence
Failure to deliver up licence: additional liability
Meaning of the "relevant period"
Construction and effect
SCHEDULE 5: Rates of vehicle excise duty on goods vehicles
Close section
SCHEDULE 6: Climate change levy
Part I: The levy
Part II: Taxable supplies
Part III: Time of supply
Part IV: Payment and rate of levy
Part V: Registration
Part VI: Credits and repayments
Part VII: Recovery and interest
Part VIII: Evasion, misdeclaration and neglect
Part IX: Civil penalties
Part X: Non-residents, groups and other special cases
Part XI: Review and appeal
Part XII: Information and evidence
Part XIII: Miscellaneous and supplementary
Part XIV: Interpretation
Close section
SCHEDULE 7: Climate change levy: consequential amendments
Provisional Collection of Taxes Act 1968 (c.2)
Income and Corporation Taxes Act 1988 (c.1)
Finance Act 1996 (c.8)
Finance Act 1997 (c.16)
SCHEDULE 8:
SCHEDULE 9: New Schedule 7C to the Taxation of Chargeable Gains Act 1992
SCHEDULE 10:
SCHEDULE 11:
Close section
SCHEDULE 12: Provision of services through an intermediary
Part I:
Part II:
Part III:
SCHEDULE 13:
SCHEDULE 14:
Close section
SCHEDULE 15: The corporate venturing scheme
Part I: Investment relief: introduction
Part II: The investing company
Part III: The issuing company
Part IV: General requirements
Part V: Investment relief
Part VI: Withdrawal of investment relief
Part VII: Relief for losses on disposals of shares
Part VIII: Deferral relief
Part IX: Company restructuring
Part X: Advance clearance
Part XI: Supplementary and general
Close section
SCHEDULE 16: Corporate venturing scheme: consequential amendments
Penalties in connection with returns etc.
EIS: deferral relief
Company tax returns, assessments etc.
Close section
SCHEDULE 17: Enterprise investment scheme: amendments
Part I: Reduction of applicable periods
Part II:
Part III: Other amendments
Close section
SCHEDULE 18: Venture capital trusts: amendments
Part I: Reduction of applicable periods
Part II:
Close section
SCHEDULE 19: Meaning of "research and development"
Part I: The new definition
Part II: Consequential amendments
SCHEDULE 20:
Close section
SCHEDULE 21: R&D tax credits: consequential amendments
Interest
Claim must be made in tax return
Recovery of excessive R&D tax credit
Claims for R&D tax credits
Close section
SCHEDULE 22: Tonnage tax
Part I: Introductory
Part II: Tonnage tax elections
Part III: Qualifying companies and groups
Part IV: The training requirement
Part V: Other requirements
Part VI: Relevant shipping profits
Part VII: The ring fence: general provisions
Part VIII: Chargeable gains and allowable losses on tonnage tax assets
Part IX: The ring fence: capital allowances: general
Part X: The ring fence: capital allowances: ship leasing
Part XI: Special rules for offshore activities
Part XII: Groups, mergers and related matters
Part XIII: Application of provisions to partnerships
Part XIV: Withdrawal of relief etc. on company leaving tonnage tax
Part XV: Supplementary provisions
SCHEDULE 23:
SCHEDULE 24: New Schedule 4A to the Taxation of Chargeable Gains Act 1992
SCHEDULE 25: New Schedule 4B to the Taxation of Chargeable Gains Act 1992
Close section
SCHEDULE 26: Transfers of value: attribution of gains to beneficiaries
Part I: New Schedule 4C to the Taxation of Chargeable Gains Act 1992
Part II: Consequential amendments
Close section
SCHEDULE 27: Group relief in case of non-resident companies etc.
Part I: Amendments of Chapter IV of Part X of the Taxes Act 1988
Part II: Consequential amendments
SCHEDULE 28:
Close section
SCHEDULE 29: Chargeable gains: non-resident companies and groups etc.
Part I: Application of Taxation of Chargeable Gains Act 1992
Part II: Minor and consequential amendments
Part III: Transitional provisions
Close section
SCHEDULE 30: Double taxation relief
Interpretation of sections 804A to 804E
Restriction of interest on repayment of tax resulting from carry back of relievable tax
Close section
SCHEDULE 31: Controlled foreign companies
Introductory
Conditions for company to be controlled foreign company
Designer rate tax provisions: deemed lower level of taxation
"Control" and the two "40 per cent" tests
Exempt activities: wholesale, distributive, financial or service business
Local holding companies
Other holding companies
Businesses to which requirement as to derivation of receipts applies
Commencement
Close section
SCHEDULE 32: Stamp duty on seven year leases: transitional provisions
Introductory
Instruments to which this Schedule applies
Instruments which remain duly stamped
Instruments which cease to be duly stamped
Stamping following earlier adjudication
Use of instruments in evidence, etc.
Adjudication, interest and penalties
Close section
SCHEDULE 33: Power to vary stamp duties
Power of Treasury to make provision by regulations
Power only to be used for cases involving land or shares etc.
Power not to be used to vary rates or thresholds
Approval of regulations by House of Commons
Claim for repayment if regulations not approved
Use in evidence, etc. of instruments affected by regulations ceasing to have effect
Temporary effect of regulations
Interpretation
Close section
SCHEDULE 34: Abolition of stamp duty on instruments relating to intellectual property: supplementary provisions
Introduction
Stamp duty reduced in certain other cases
Apportionment of consideration for stamp duty purposes
Certification of instruments for stamp duty purposes
Acquisition under statute
SCHEDULE 35:
SCHEDULE 36: New Schedule 3A to the Value Added Tax Act 1994
SCHEDULE 37: Landfill tax: new Part VIII of Schedule 5 to the Finance Act 1996
Close section
SCHEDULE 38: Regulations for providing incentives for electronic communications
Introduction
Kinds of incentive
Conditions of entitlement
Withdrawal of entitlement
Power to authorise provision by directions
Power to provide for penalties
General supplementary provisions
Interpretation
SCHEDULE 39: New Schedule 1AA to the Taxes Management Act 1970
Close section
SCHEDULE 40: Repeals
Part I: Excise duties
Part II: Income tax, corporation tax and capital gains tax
Part III: Stamp duty and stamp duty reserve tax
Part IV: Value Added Tax
Part V: Information powers
Close section
Finance Act 2001
Close section
Part 1: EXCISE DUTIES
Hydrocarbon oil duties
Tobacco products duty
Alcoholic liquor duties
Betting and gaming duties
Vehicle excise duty
General
Close section
Part 2: AGGREGATES LEVY
Charging provisions
Administration and enforcement
Credits and repayments
Non-resident taxpayers
Other special cases
Review and appeal
General provisions
Supplemental
Close section
Part 3: INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
Chapter 1: CHARGE AND RATES
Chapter 2: OTHER PROVISIONS
Close section
Part 4: OTHER TAXES
Stamp duty and stamp duty reserve tax
Value added tax
Petroleum revenue tax
Landfill tax
Climate change levy
Inheritance tax
Close section
Part 5: MISCELLANEOUS AND SUPPLEMENTARY PROVISIONS
Miscellaneous
Supplementary
SCHEDULES:
SCHEDULE 1: GENERAL BETTING DUTY
SCHEDULE 2: RATES OF VEHICLE EXCISE DUTY ON GOODS VEHICLES
Close section
SCHEDULE 3: EXCISE DUTY: PAYMENTS BY COMMISSIONERS IN CASE OF ERROR OR DELAY
Part 1: PAYMENTS
Part 2: INTEREST
Part 3: APPEALS
Part 4: GENERAL
Close section
SCHEDULE 4: AGGREGATES LEVY: REGISTRATION
Notification of registrability etc.
Form of registration
Notification of loss or prospective loss of registrability
Cancellation of registration
Correction of the register etc.
Supplemental regulations about notifications
Publication of information on the register
Interpretation of Schedule
Close section
SCHEDULE 5: AGGREGATES LEVY: RECOVERY AND INTEREST
Recovery of levy as debt due
Assessments of amounts of levy due
Supplementary assessments
Time limits for assessments
Penalty interest on unpaid levy
Interest on overdue levy paid before assessment
Penalty interest on levy where no return made
Ordinary and penalty interest on under-declared levy
Penalty interest on unpaid ordinary interest
Penalty interest
Supplemental provisions about interest
Assessments to interest
Further assessments to penalty interest
Recovery by distress
Walking possession agreements
Recovery by diligence
Interpretation of Schedule etc.
Close section
SCHEDULE 6: AGGREGATES LEVY: EVASION, MISDECLARATION AND NEGLECT
Part 1: CRIMINAL OFFENCES
Part 2: CIVIL PENALTIES
Part 3: INTERPRETATION OF SCHEDULE
Close section
SCHEDULE 7: AGGREGATES LEVY: INFORMATION AND EVIDENCE ETC
Records
Order for access to recorded information etc.
Removal of documents etc.
Enforcement of paragraph 9
Power to take samples
Evidence by certificate
Inducements to provide information
Disclosure of information
Interpretation of Schedule
Close section
SCHEDULE 8: AGGREGATES LEVY: REPAYMENTS AND CREDITS
Reimbursement arrangements
Interest payable by the Commissioners
Assessment for excessive repayment
Assessment for overpayments of interest
Assessments under paragraphs 3 and 4
Interest on amounts assessed
Assessments to interest under paragraph 6
Supplementary assessments
Set-off of or against amounts due under this Part of this Act
Set-off of or against other taxes and duties
Restriction on powers to provide for set-off
Supplemental provisions of Schedule
Close section
SCHEDULE 9: AGGREGATES LEVY: GROUP TREATMENT
Eligibility for group treatment
Application for group treatment
Modification of group treatment
Termination of group treatment
Applications relating to group treatment
Notifications relating to group treatment
Supplemental regulations about applications and notifications
Interpretation of Schedule
Close section
SCHEDULE 10: AGGREGATES LEVY: ASSESSMENT OF CIVIL PENALTIES AND INTEREST ON THEM
Preliminary
Assessments to penalties etc.
Further assessments to daily penalties
Time limits on penalty assessments
Penalty interest on unpaid penalties
Supplemental provisions about interest
Assessments to penalty interest on unpaid penalties
Further assessments to interest on penalties
SCHEDULE 11:
Close section
SCHEDULE 12: MILEAGE ALLOWANCES
Part 1:
Part 2: CONSEQUENTIAL AMENDMENTS
SCHEDULE 13:
SCHEDULE 14:
Close section
SCHEDULE 15: ENTERPRISE INVESTMENT SCHEME: AMENDMENTS
Part 1: INCOME TAX RELIEF
Part 2: POSTPONEMENT OF CHARGEABLE GAIN ON REINVESTMENT
Part 3: MISCELLANEOUS AND GENERAL
Close section
SCHEDULE 16: VENTURE CAPITAL
Part 1: VENTURE CAPITAL TRUSTS
Part 2: CORPORATE VENTURING SCHEME
SCHEDULE 17:
SCHEDULE 18: CAPITAL ALLOWANCES: FIXTURES PROVIDED IN CONNECTION WITH ENERGY MANAGEMENT SERVICES
SCHEDULE 19:
Close section
SCHEDULE 20: CAPITAL ALLOWANCES: OFFSHORE OIL INFRASTRUCTURE
Part 1: CHARGEABLE PERIODS ENDING BEFORE 1ST OR 6TH APRIL 2001
Part 2: CHARGEABLE PERIODS ENDING ON OR AFTER 1ST OR 6TH APRIL 2001
Close section
SCHEDULE 21: CAPITAL ALLOWANCES: MINOR AMENDMENTS
Thermal insulation of industrial buildings
Fixtures: purchasers of land and incoming lessees
Meaning of "sale and finance leaseback"
Effect of partnership changes
SCHEDULE 22:
Close section
SCHEDULE 23: LAND REMEDIATION: CONSEQUENTIAL AMENDMENTS
Interest
Claim must be made in tax return
Recovery of excessive tax credit
Claims relating to remediation of contaminated land
Close section
SCHEDULE 24: CREATIVE ARTISTS: RELIEF FOR FLUCTUATING PROFITS
Part 1:
Part 2: CONSEQUENTIAL AMENDMENTS
Close section
SCHEDULE 25: LIMITED LIABILITY PARTNERSHIPS: INVESTMENT LLPS AND PROPERTY INVESTMETN LLPS
Meaning of "investment LLP" and "property investment LLP"
Pension funds, &c.: exclusion of exemptions from tax in case of income from property investment LLPs
Pension funds, &c.: exclusion of exemptions in case of gains from property investment LLPs
Insurance companies: capital allowances
SCHEDULE 26:
Close section
SCHEDULE 27: DOUBLE TAXATION RELIEF
Close section
SCHEDULE 28: LIFE POLICIES, LIFE ANNUITIES AND CAPITAL REDEMPTION POLICIES
Part 1:
Part 2: PROVISION OF INFORMATION BY INSURERS
Close section
SCHEDULE 29: AMENDMENTS TO MACHINERY OF SELF-ASSESSMENT
Part 1: AMENDMENT OR CORRECTION OF RETURN
Part 2: ENQUIRIES INTO RETURNS
Part 3: REFERRAL OF QESTIONS DURING ENQUIRY
Part 4: PROCEDURE ON COMPLETION OF ENQUIRY
Part 5: MINOR AND CONSEQUENTIAL AMENDMENTS
SCHEDULE 30:
Close section
SCHEDULE 31: VALUE ADDED TAX: RE-ENACTMENT OF REDUCED RATE PROVISIONS
Part 1: NEW SCHEDULE 7A TO THE VALUE ADDED TAX ACT 1994
Part 2: CONSEQUENTIAL AMENDMENTS
Close section
SCHEDULE 32: PETROLEUM REVENUE TAX: UNRELIEVABLE FIELD LOSSES
Schedule applies where there has been a transfer to which Parts 2 and 3 of Schedule 17 to the Finance Act 1980 do not apply
Meaning of "excluded transfer"
Meaning of "subsequent new owner"
Transfers of interests in oil fields: interpretation
Schedule applies in place of section 6(1C) of the Oil Taxation Act 1975
General rule for determinations under this Schedule of "unrelievable portion" of loss
Loss to be relieved against other participators' profits
Extent to which losses to be relieved
Profits not to be utilised more than once
Relieving different losses against the same profits
Construction as one with Part 1 of the Oil Taxation Act 1975
Close section
SCHEDULE 33: REPEALS
Part 1: EXCISE DUTIES
Part 2: INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
Part 3: OTHER TAXES
Close section
Finance Act 2002
Close section
Part 1: Excise duties
Tobacco products duty
Alcoholic liquor duties
Hydrocarbon oil duties
Betting and gaming duties
Vehicle excise duty
General
Close section
Part 2: Value added tax
22: Disallowance of input tax where consideration not paid
23: Flat-rate scheme
24: Invoices
25:
Close section
Part 3: Income tax, corporation tax and capital gains tax
Chapter 1: Charge and rate bands
Chapter 2: Other provisions
Close section
Part 4: Stamp duty and stamp duty reserve tax
Stamp duty
Close section
Part 5: Other taxes
Inheritance tax
Landfill tax
Climate change levy
Aggregates levy
Close section
Part 6: Miscellaneous and supplementary provisions
Mandatory e-filing
Lorry road-user charge
Registers of UK gilts
Supplementary
SCHEDULES:
SCHEDULE 1: Beer from small breweries: reduced rate of duty
SCHEDULE 2: Hydrocarbon oil duties: minor and consequential amendments relating to biodiesel
Close section
SCHEDULE 3: Hydrocarbon oil duties: rebated heavy oil etc
Part 1: Regulating traders in rebated heavy oil
Part 2: Minor amendments relating to rebates
Close section
SCHEDULE 4: Pool betting duty etc
Part 1: Amendments of the Betting and Gaming Duties Act 1981
Part 2: Minor amendments and transitional provisions
SCHEDULE 5: Vehicle excise duty: registered vehicles etc
SCHEDULE 6:
SCHEDULE 7: Chargeable gains: roll-over of degrouping charge: modification of enactments
Close section
SCHEDULE 8: Chargeable gains: exemptions in case of substantial shareholding
Part 1: New Schedule 7AC to the Taxation of Chargeable Gains Act 1992
Part 2: Consequential amendments
Close section
SCHEDULE 9: Chargeable gains: share exchanges and company reconstructions
Part 1: Provisions replacing sections 135 and 136 of the Taxation of Chargeable Gains Act 1992
Part 2: Consequential amendments
Part 3: Commencement
SCHEDULE 10:
SCHEDULE 11: Chargeable gains: deduction of personal losses from gains treated as accruing to settlors
SCHEDULE 12:
SCHEDULE 13:
SCHEDULE 14:
SCHEDULE 15:
SCHEDULE 16:
SCHEDULE 17: Community investment tax relief: consequential amendments
SCHEDULE 18:
SCHEDULE 19: Capital allowances: cars with low carbon dioxide emissions
SCHEDULE 20: Capital allowances: plant or machinery for gas refuelling station
Close section
SCHEDULE 21: First-year allowances for expenditure wholly for a ring fence trade
Part 1: Plant and machinery
Part 2: Mineral extraction allowances
SCHEDULE 22:
Close section
SCHEDULE 23: Exchange gains and losses from loan relationships etc
Part 1: Amendments of the Finance Act 1996
Part 2: Amendments of other legislation
Part 3: Transitional provisions etc
SCHEDULE 24: Corporation tax: currency
Close section
SCHEDULE 25: Loan relationships
Part 1: Amendments of the Finance Act 1996
Part 2: Amendments of other enactments
Part 3: Transitional provisions
SCHEDULE 26: Derivative contracts
SCHEDULE 27: Derivative contracts: minor and consequential amendments
SCHEDULE 28: Derivative contracts: transitional provisions etc
SCHEDULE 29:
SCHEDULE 30: Gains and losses of a company from intangible fixed assets: consequential amendments
SCHEDULE 31: Gains of insurance company from venture capital investment partnership
SCHEDULE 32: Lloyd's underwriters
SCHEDULE 33:
SCHEDULE 34: Stamp duty: withdrawal of group relief: supplementary provisions
SCHEDULE 35:
Close section
SCHEDULE 36: Stamp duty: contracts chargeable as conveyances: supplementary provisions
Part 1: Subsales
Part 2: Subsequent conveyance or transfer
Part 3: General supplementary provisions
SCHEDULE 37: Stamp duty: abolition of duty on instruments relating to goodwill: supplementary provisions
SCHEDULE 38: Aggregates levy amendments
SCHEDULE 39:
Close section
SCHEDULE 40: Repeals
Part 1: Excise duties
Part 2: Value added tax
Part 3: Income tax, corporation tax and capital gains tax
Part 4: Other taxes
Part 5: Miscellaneous
Close section
Finance Act 2003
Close section
Part 1: Excise duties
Tobacco products duty
Alcoholic liquor duties
Hydrocarbon oil duties
Betting and gaming duties
Vehicle excise duty
Close section
Part 2: Value added tax
17: Requirement of evidence or security
18: Joint and several liability for unpaid VAT of another trader
19: Face-value vouchers
20: Supplies arising from prior grant of fee simple
21: Business gifts
22:
23:
Close section
Part 3: Taxes and duties on importation and exportation: penalties
Preliminary
The penalties
Reduction of amount of penalty
Demand notices
Appeals and reviews
Evidence
Miscellaneous and supplementary
Close section
Part 4: Stamp duty land tax
Introduction
Land transactions
Chargeable interests, chargeable transactions and chargeable consideration
Amount of tax chargeable
Reliefs
Increased rates for non-resident transactions
Anti-avoidance
Returns and other administrative matters
Liability for and payment of tax
Compliance
Application of provisions
Supplementary provisions
Interpretation etc
Final provisions
Close section
Part 5: Stamp duty
125: Abolition of stamp duty except on instruments relating to stock or marketable securities
126: Circumstances in which group relief withdrawn
127:
128:
129:
130: Registered social landlords: treatment of certain leases granted between 1st January 1990 and 27 March 2000
Close section
Part 6: Income tax and corporation tax: charge and rate bands
Corporation tax
Close section
Part 7: Income tax, corporation tax and capital gains tax: general
Employment income and related matters
Taxation of non-resident companies and related matters
Chargeable gains
Capital allowances and related matters
Life insurance and pensions
Miscellaneous
Close section
Part 8: Other taxes
Inheritance tax
Landfill tax
Climate change levy
Insurance premium tax
Close section
Part 9: Miscellaneous and supplementary provisions
Provisions consequential on changes to company law
International matters
Administrative matters
National Savings
Other financial matters
Supplementary
SCHEDULES:
SCHEDULE 1: VAT: face-value vouchers
SCHEDULE 2:
SCHEDULE 2A: Transactions entered into before completion of contract
SCHEDULE 3: Stamp duty land tax: transactions exempt from charge
SCHEDULE 4: Stamp duty land tax: chargeable consideration
Close section
SCHEDULE 4ZA: Stamp duty land tax: higher rates for additional dwellings and dwellings purchased by companies
PART 1: Higher rates
PART 2: Meaning of "higher rates transaction"
PART 3: Supplementary provisions
SCHEDULE 4A: Stamp duty land tax: higher rate for certain transactions
SCHEDULE 5: Stamp duty land tax: amount of tax chargeable: rent
SCHEDULE 6:
Close section
SCHEDULE 6ZA: Relief for first-time buyers
PART 1: Eligibility for relief
PART 2: The Relief
PART 3: Interpretation
SCHEDULE 6A: Relief for certain acquisitions of residential property
Schedule 6B: Transfers involving multiple dwellings
Close section
SCHEDULE 6C: Stamp duty land tax: relief for special tax sites
PART 1: Qualifying freeport land
PART 2: The relief
PART 3: Withdrawal of relief
PART 4: Alternative finance arrangements
PART 5: Power to change when relief is available
Close section
SCHEDULE 7: Stamp duty land tax: group relief and reconstruction and acquisition reliefs
Part 1: Group relief
Part 2: Reconstruction and acquisition reliefs
Close section
SCHEDULE 7A: Paif seeding relief and coacs seeding relief
PART 1: Property authorised investment funds
PART 2: Co-ownership authorised contractual schemes
PART 3: Interpretation
SCHEDULE 8: Stamp duty land tax: charities relief
SCHEDULE 9: Stamp duty land tax: right to buy, shared ownership leases etc
Close section
SCHEDULE 9A: Increased rates for non-resident transactions
PART 1: Introduction
PART 2: Meaning of "non-resident transaction"
PART 3: "Non-resident" in relation to a chargeable transaction: individuals
PART 4: "Non-resident" in relation to a chargeable transaction: companies
PART 5: Special rules for particular purchasers and transactions
PART 6: Supplementary provision
Close section
SCHEDULE 10: Stamp duty land tax: returns, enquiries, assessments and appeals
Part 1: Land transaction returns
Part 2: Duty to keep and preserve records
Part 3: Enquiry into return
Part 4: Revenue determination if no return delivered
Part 5: Revenue assessments
Part 6: Relief in case of overpaid tax or excessive assessment
Part 7: Reviews and appeals
Close section
SCHEDULE 11: Stamp duty land tax: record-keeping where transaction is not notifiable
Part 1:
Part 2: Duty to keep and preserve records
Part 3:
SCHEDULE 11A: Stamp duty land tax: claims not included in returns
Close section
SCHEDULE 12: Stamp duty land tax: collection and recovery of tax
Part 1: General
Part 2: Court proceedings
Close section
SCHEDULE 13: Stamp duty land tax: information powers
Part 1:
Part 2:
Part 3:
Part 4:
Part 5:
Part 6: Order of judicial authority for the delivery of documents
Part 7:
Part 8: Falsification etc of documents
SCHEDULE 14: Stamp duty land tax: determination of penalties and related appeals
Close section
SCHEDULE 15: Stamp duty land tax: partnerships
Part 1: General provisions
Part 2: Ordinary partnership transactions
Part 3: Transactions to which special provisions apply
SCHEDULE 16: Stamp duty land tax: trusts and powers
SCHEDULE 17:
SCHEDULE 17A: Further provisions relating to leases
SCHEDULE 18: Stamp duty land tax: consequential amendments
SCHEDULE 19: Stamp duty land tax: commencement and transitional provisions
Close section
SCHEDULE 20: Stamp duty: restriction to instruments relating to stock or marketable securities
Part 1: Supplementary provisions
Part 2: Consequential amendments and repeals
Close section
SCHEDULE 21: Approved share plans and schemes
Part 1: Share incentive plans
Part 2: SAYE option schemes
Part 3: CSOP schemes
SCHEDULE 22: Employee securities and options
SCHEDULE 23:
SCHEDULE 24:
SCHEDULE 25:
SCHEDULE 26:
SCHEDULE 27: Permanent establishment etc: consequential amendments
Close section
SCHEDULE 28: Capital gains tax: reporting limits and annual exempt amount
Part 1: Reporting limits
Part 2: Annual exempt amount
Part 3: Commencement
SCHEDULE 29: Transfers of value: attribution of gains to beneficiaries
SCHEDULE 30: First-year allowances for expenditure on environmentally beneficial plant or machinery
SCHEDULE 31:
SCHEDULE 32: Tonnage tax: restrictions on capital allowances for lessors of ships
SCHEDULE 33: Insurance companies
SCHEDULE 34:
SCHEDULE 35: Gains on policies of life insurance etc: rate of tax
SCHEDULE 36:
SCHEDULE 37:
SCHEDULE 38: Sale and repurchase of securities etc
SCHEDULE 39: Relevant discounted securities: withdrawal of relief for costs and losses, etc
SCHEDULE 40: Acquisition by company of its own shares
SCHEDULE 41: Companies in administration
SCHEDULE 42: Controlled foreign companies: exempt activities
Close section
SCHEDULE 43: Repeals
Part 1: Excise duties
Part 2: Value added tax
Part 3: Income tax, corporation tax and capital gains tax
Part 4: Other taxes
Part 5: Miscellaneous
Close section
Finance Act 2004
Close section
Part 1: Excise duties
Tobacco products duty
Alcoholic liquor duties
Hydrocarbon oil etc duties
Betting and gaming duties
Amusement machine licence duty
Vehicle excise duty
Close section
Part 2: Value added tax
19: Disclosure of VAT avoidance schemes
20: Groups
21: Reverse charge on gas and electricity supplied by persons outside UK
22: Use of stock in trade cars for consideration less than market value
Close section
Part 3: Income tax, corporation tax and capital gains tax
Chapter 1: Income tax and corporation tax charge and rate bands
Chapter 2: Corporation tax: general
Chapter 3: Construction industry scheme
Chapter 4: Personal taxation
Chapter 5: Enterprise incentives
Chapter 6: Exemption from income tax for certain interest and royalty payments
Chapter 7: Savings income: double taxation arising from withholding tax
Chapter 8: Chargeable gains
Chapter 9:
Chapter 10: Avoidance: miscellaneous
Chapter 11: Miscellaneous
Close section
Part 4: Pension schemes etc
Chapter 1: Introduction
Chapter 2: Registration of pension schemes
Chapter 3: Payments by registered pension schemes
Chapter 4: Registered pension schemes: tax reliefs and exemptions
Chapter 5: Registered pension schemes: tax charges
CHAPTER 5A: Registered pension schemes established outside the United Kingdom
Chapter 6: Schemes that are not registered pension schemes
Chapter 7: Compliance
Chapter 8: Supplementary
Close section
Part 5: Oil
285: Certain receipts not to be tariff receipts
286: Petroleum extraction activities: exploration expenditure supplement
287: Restrictions on expenditure allowable
288: Terminal losses
Close section
Part 6: Other taxes
Climate change levy
Aggregates levy
Lorry road-user charge
Inheritance tax
Stamp duty land tax and stamp duty
Stamp duty land tax
Close section
Part 7: Disclosure of tax avoidance schemes
305A: Introduction
306: Meaning of "notifiable arrangements" and "notifiable proposal"
306A: Doubt as to notifiability
307: Meaning of "promoter"
308: Duties of promoter
308A: Supplemental information
309: Duty of person dealing with promoter outside United Kingdom
310: Duty of parties to notifiable arrangements not involving promoter
310A: Duty to provide further information requested by HMRC
310B: Failure to provide information under section 310A: application to the Tribunal
310C: Duty of promoters to provide updated information
310D: Notice of potential allocation of reference number: arrangements and proposals suspected of being notifiable
311: Allocation of reference number to arrangements
311A: Duty of HMRC to notify persons of reference number
311B: Right of appeal: section 311(3) case
311C: Duty to provide further information requested by HMRC: section 311(3) case
312: Duty of promoter to notify client of number: section 311(2) case
312ZA: Duty to notify client of reference number: section 311(3) case
312A: Duty of client to notify parties of number
312B: Duty of client to provide information
313: Duty of parties to notify HMRC of reference number etc
313ZA: Duty to provide details of clients
313ZB: Enquiry following disclosure of client details
313ZC: Duty of employer to notify HMRC of details of employees etc
313A: Pre-disclosure enquiry
313B: Reasons for non-disclosure: supporting information
313C: Provision of information to HMRC by introducers
314: Legal professional privilege
314A: Order to disclose
315: Penalties
316: Information to be provided in form and manner specified by HMRC
316A: Duty to provide additional information
316B: Confidentiality
316C: Publication by HMRC
316D: Section 316C: subsequent judicial rulings
317: Regulations under Part 7
317A:
318: Interpretation of Part 7
319: Part 7: commencement and savings
Close section
Part 8: Miscellaneous matters
320: Exclusion of extended limitation period in England, Wales and Northern Ireland
321: Exclusion of extended prescriptive period in Scotland
322: Mutual assistance: customs union with the Principality of Andorra
323: Ending of shipbuilders' relief
324: Government borrowing: preparations for possible adoption of Euro
325: Premium bonds
Close section
Part 9: Supplementary provisions
326: Repeals
327: Interpretation
328: Short title
SCHEDULES:
SCHEDULE 1: New Schedule 2A to the Alcoholic Liquor Duties Act 1979
Close section
SCHEDULE 2: Disclosure of value added tax avoidance schemes
Part 1: Principal amendments of Value Added Tax Act 1994
Part 2: Consequential amendments
SCHEDULE 3:
SCHEDULE 4: Amendments relating to the rate applicable to trusts
SCHEDULE 5: Provision not at arm's length: related amendments
SCHEDULE 6:
SCHEDULE 7: Insurance companies etc
SCHEDULE 8:
SCHEDULE 9:
Close section
SCHEDULE 10: Amendment of enactments that operate by reference to accounting practice
Part 1: Loan relationships
Part 2: Derivative contracts
Part 3: Intangible fixed assets
Part 4: Foreign currency accounting
Close section
SCHEDULE 11: Conditions for registration for gross payment
Part 1: Conditions to be satisfied by individuals
Part 2: Conditions to be satisfied by firms
Part 3: Conditions to be satisfied by companies
Part 4: Supplementary provisions
SCHEDULE 12: Construction industry scheme: consequential amendments
SCHEDULE 13: Childcare and childcare vouchers
SCHEDULE 14: Vans
SCHEDULE 15: Charge to income tax on benefits received by former owner of property
SCHEDULE 16: Relief where national insurance contributions met by employee
SCHEDULE 17: Minor amendments of or connected with the Income Tax (Earnings and Pensions) Act 2003
Close section
SCHEDULE 18: Enterprise investment scheme
Part 1:
Part 2: Deferral relief
Part 3: Commencement
Close section
SCHEDULE 19: Venture capital trusts
Part 1:
Part 2: Abolition of deferral relief
Part 3:
SCHEDULE 20: Corporate venturing scheme
SCHEDULE 21: Chargeable gains: restriction of gifts relief etc
SCHEDULE 22: Chargeable gains: private residence relief
SCHEDULE 23: Finance leasebacks: transitional provision
SCHEDULE 24: Manufactured dividends
SCHEDULE 25: Lloyd's names: conversion to limited liability underwriting
SCHEDULE 26: Offshore funds
Close section
SCHEDULE 27: Meaning of "offshore installation"
Part 1: The new definition
Part 2: Minor and consequential amendments
Close section
SCHEDULE 28: Registered pension schemes: authorised pensions-supplementary
Part 1: Pension rules
Part 2: Pension death benefit rules
Close section
SCHEDULE 29: Registered pension schemes: authorised lump sums-supplementary
Part 1: Lump sum rule
Part 2: Lump sum death benefit rule
Close section
SCHEDULE 29A: Taxable property held by investment-regulated pension schemes
Part 1: Investment-regulated pension schemes
Part 2: Taxable property
Part 3: Acquisition and holding of taxable property
Part 4: Amount and timing of unauthorised payment
SCHEDULE 30: Registered pension schemes: employer loans
SCHEDULE 31: Taxation of benefits under registered pension schemes
SCHEDULE 32: Registered pension schemes: benefit crystallisation events-supplementary
SCHEDULE 33: Overseas pension schemes: migrant member relief
SCHEDULE 34: Non-UK schemes: application of certain charges
SCHEDULE 35: Pension schemes etc: minor and consequential amendments
Close section
SCHEDULE 36: Pension schemes etc: transitional provisions and savings
Part 1: Pre-commencement pension schemes
Part 2: Pre-commencement rights: lifetime allowance charge
Part 3: Pre-commencement benefit rights
Part 4: Other provisions
Close section
SCHEDULE 37: Oil taxation: tax-exempt tariffing receipts and assets producing them
Part 1: Amendments of the Oil Taxation Act 1983 relating to allowable expenditure and disposal receipts
Part 2: Transitional provision
Part 3: Amendments of the Taxes Act 1988
Part 4: Amendments of other enactments
SCHEDULE 38: Schedule to be inserted as Schedule 19B to the Taxes Act 1988
Close section
SCHEDULE 39: Stamp duty land tax and stamp duty
Part 1: Amendments to Part 4 of the Finance Act 2003: general
Part 2: Re-enactment, with changes, of amendments made by section 109 regulations
SCHEDULE 40: Stamp duty land tax: claims not included in returns
SCHEDULE 41: Stamp duty land tax: application to certain partnership transactions
Close section
SCHEDULE 42: Repeals
Part 1: Excise duties
Part 2: Income Tax, Corporation Tax and Capital Gains Tax
Part 3: Pension schemes etc
Part 4: Other taxes
Part 5: Miscellaneous matters
Close section
Finance Act 2005
Close section
Part 1: Excise duties
Tobacco products duty
Alcoholic liquor duties
Hydrocarbon oil etc duties
Gaming duty
Vehicle excise duty
Close section
Part 2: Income tax, corporation tax and capital gains tax
Chapter 1: Income tax and corporation tax charge and rate bands
CHAPTER 2: Personal taxation
Chapter 3: Employment-related securities
CHAPTER 4: Trusts with vulnerable beneficiary
Chapter 5:
Chapter 6:
Chapter 7:
Chapter 8: Accounting practice and related matters
Chapter 9: International matters
Chapter 10: Miscellaneous
Close section
Part 3: Stamp taxes
Stamp duty land tax
Stamp duty and stamp duty reserve tax
Close section
Part 4: Other taxes
Inheritance tax
Landfill tax
Lorry road-user charge
Close section
Part 5: Pensions etc
101: Pension schemes etc.
102: Pension Protection Fund etc.
Close section
Part 6: Miscellaneous
103: Civil partnerships etc
Close section
Part 7: Supplementary provisions
104: Repeals
105: Interpretation
106: Short title
SCHEDULES:
SCHEDULE 1: Non-UK resident vulnerable persons: interpretation
SCHEDULE 1A: Meaning of "disabled person"
SCHEDULE 2:
SCHEDULE 3:
Close section
SCHEDULE 4: Accounting practice and related matters
Part 1: Bad debts and related matters
Part 2: Other provisions connected with accounting practice
SCHEDULE 5:
Close section
SCHEDULE 6: Capital allowances: renovation of business premises in disadvantaged areas
Part 1: New Part 3A of the Capital Allowances Act 2001
Part 2: Consequential amendments
Close section
SCHEDULE 7: Tonnage tax
Part 1: Amendments of Schedule 22 to FA 2000
Part 2: Commencement and transitional provision
SCHEDULE 8: Stamp duty land tax: alternative property finance
SCHEDULE 9:
SCHEDULE 10: Pension schemes etc.
Close section
SCHEDULE 11: Repeals
Part 1: Excise duties
Part 2: Income tax, corporation tax and capital gains tax
Part 3: Stamp taxes
Part 4: Pensions etc
Close section
Finance (No. 2) Act 2005
Close section
Part 1: Value added tax
1: Goods subject to warehousing regime: place of acquisition or supply
2: Cars: determination of consideration for fuel supplied for private use
3: Credit for, or repayment of, overstated or overpaid VAT
4: Section 3: consequential and supplementary provision
5: Reverse charge: gas and electricity valuation
6: Disclosure of value added tax avoidance schemes
Close section
Part 2: Income tax, corporation tax and capital gains tax
Chapter 1: Personal taxation
Chapter 2: Scientific research organisations
Chapter 3: Authorised investment funds etc
Chapter 4:
Chapter 5: Chargeable gains
Chapter 6: Miscellaneous
Close section
Part 3: Stamp taxes
Stamp duty land tax
Close section
Part 4: European company statute
51: Chargeable gains
52: Intangible fixed assets
53: Intangible fixed assets: permanent establishment in another member State
54: Loan relationships
55:
56: Capital allowances
57: Stamp duty reserve tax
58: Bearer instruments: stamp duty and stamp duty reserve tax
59: Consequential amendments
60:
61:
62: Groups
63:
64: Held-over gains
65: Restrictions on set-off of pre-entry losses
Close section
Part 5: Miscellaneous matters
66: Vehicle excise duty: late renewal supplements
67: Reorganisation of water and sewerage services in Northern Ireland
68:
69: Abolition of statutory adjudicator for National Savings and Investments
Close section
Part 6: Supplementary provisions
70: Repeals
71: Interpretation
72: Short title
SCHEDULES:
Close section
SCHEDULE 1: Disclosure of value added tax avoidance schemes
Introduction
Interpretative provisions
Duty to notify Commissioners
Amount of penalty
Penalty assessments
Close section
SCHEDULE 2: Employee securities: anti-avoidance
Introductory
Rights under certain insurance contracts to be securities
Restricted securities
Convertible securities
Securities acquired for less than market value
Post-acquisition benefits from securities
SCHEDULE 3:
Close section
SCHEDULE 4: Chargeable gains: location of assets etc
Part 1: Location of assets
Part 2: Minor amendments: non-resident company with UK permanent establishment
Part 3: Commencement
Close section
SCHEDULE 5: Chargeable gains: options
Part 1: Application of market value rule in case of exercise of option
Part 2: Miscellaneous amendments relating to share options etc
Part 3: Commencement
Close section
SCHEDULE 6: Accounting practice and related matters
Meaning of "statutory insolvency arrangement"
Close section
SCHEDULE 7: Avoidance involving financial arrangements
Consideration due after time of disposal: creditor relationships etc
Corporate strips: manipulation of price: associated payment giving rise to loss
Money debts etc not arising from lending of money: discounts and profits from transactions
Capital redemption policies: removal of exclusion from loan relationships computations
Relevant discounted securities: corporate strips
Deeply discounted securities: corporate strips
Close section
SCHEDULE 8: Financing of companies etc: transfer pricing and loan relationships
Close section
SCHEDULE 9: Insurance companies etc
Equalisation reserves for general business
Miscellaneous references to "class" of business
Transfers of business: references to accounting period ending with day of transfer
Close section
SCHEDULE 10: Stamp duty land tax: miscellaneous amendments
Part 1: Amendments coming into force in accordance with paragraph 16
Part 2: Amendments coming into force in accordance with paragraph 22
Close section
SCHEDULE 11: Repeals
Part 1: Value added tax
Part 2: Income tax, corporation tax and capital gains tax
Part 3: Stamp taxes
Part 4: European company statute
Part 5: Miscellaneous matters
Close section
Finance Act 2006
Arrangement of sections
Close section
Part 1: Excise duties [ss.1-15]
Tobacco products duty [ss.1-2]
Alcoholic liquor duties [ss.3-5]
Hydrocarbon oil duties [ss.6-8]
Betting and gaming duties [ss.9-10]
Amusement machine licence duty [ss.11-12]
Vehicle excise duty [ss.13-15]
Close section
Part 2: Value added tax [ss.16-22]
Gaming machines [s.16]
Land [s.17]
Imported works of art etc [s.18]
Avoidance and fraud [ss.19-22]
Close section
Part 3: Income tax, corporation tax and capital gains tax [ss.23-145]
Chapter 1: Income tax and corporation tax: charge and rate bands [ss.23-26]
Close section
Chapter 2: Reliefs for business [ss.27-30]
Group relief [s.27]
Research and development [ss.28-29]
... [s.30]
Close section
Chapter 3: Films and sound recordings [ss.31-53]
... [ss.31-36]
... [s.37]
Film tax relief [ss.38-42]
... [ss.43-45]
Films: withdrawal of existing reliefs [ss.46-47]
... [ss.48-50]
Supplementary provisions [ss.51-53]
Chapter 4: ... [ss.54-58]
Chapter 5: Personal taxation [ss.59-64]
Chapter 6: The London Olympic Games and Paralympic Games [ss.65-68]
Close section
Chapter 7: Chargeable gains [ss.69-74]
Capital losses [ss.69-72]
Insurance policies and annuities [s.73]
Capital gains tax [s.74]
Close section
Chapter 8: Avoidance: miscellaneous [ss.75-80]
... [s.75]
Financial instruments [s.76]
... [s.77]
International matters [ss.78-79]
Pre-owned assets [s.80]
Close section
Chapter 9: Miscellaneous provisions [ss.81-102]
Leasing of plant or machinery [s.81]
Sale of lessors [ss.82-85]
Insurance companies and policyholders [ss.86-87]
Settlements [ss.88-90]
Investment reliefs [s.91]
Employment-related securities [ss.92-93]
PAYE [s.94]
... [ss.95-98]
Nuclear decommissioning [ss.99-100]
Accounting practice [ss.101-102]
Close section
Part 4: Real Estate Investment Trusts [ss.103-145]
... [ss.103-108]
... [ss.109-112]
... [ss.113-118]
... [ss.119-123]
... [ss.124-127]
... [ss.128-133]
Groups [ss.134-136]
Miscellaneous [ss.136A-143]
General [ss.144-145]
Close section
Part 5: Oil [ss.146-154]
New basis for determining market value [ss.146-147]
Attribution of blended crude oil [s.148]
Nomination scheme [ss.149-151]
Ring fence trades [ss.152-154]
Close section
Part 6: Inheritance tax [ss.155-157]
Future rates and bands [s.155]
Trusts [ss.156-157]
Close section
Part 7: Pensions [ss.158-161]
158: Taxable property held by investment-regulated pension schemes
159: Recycling of lump sums
160: Inheritance tax
161: Miscellaneous
Close section
Part 8: Stamp taxes [ss.162-169]
Stamp duty and stamp duty land tax: thresholds [s.162]
Stamp duty land tax [ss.163-168]
Stamp duty [s.169]
Close section
Part 9: Miscellaneous provisions [ss.170-177]
Landfill tax [s.170]
Climate change levy [ss.171-172]
International tax arrangements [ss.173-176]
Disclosure of information [s.177]
Close section
Part 10: Supplementary provisions [ss.178-180]
178: Repeals
179: Interpretation
180: Short title
Close section
Schedule 1: Group relief where surrendering company not resident in UK
Part 1: ...
Part 2: Amendments of other enactments
Part 3: Commencement
Schedule 2: ...
Close section
Schedule 3: Claims for relief for research and development
Introductory
Claims to be included in return
Claims for R&D tax relief
Claims for relief under Schedule 12 to FA 2002
Claims for relief under Schedule 13 to FA 2002
Commencement and transitional provision
Schedule 4: ...
Close section
Schedule 5: Film tax relief: further provisions
Part 1: ...
Part 2: Certification of British films for purposes of film tax relief
Part 3: Consequential amendments
Part 4: ...
Close section
Schedule 6: Avoidance involving financial arrangements
Repeal of rent factoring provisions
Dividend stripping: subsequent sales etc of rights to receive dividends etc
Structured finance arrangements: chargeable gains treatment of acquisitions and disposals
Loan relationships: mandatory convertibles
Close section
Schedule 7: Transfer of assets abroad
Income and Corporation Taxes Act 1988
ITTOIA 2005
Close section
Schedule 8: Long funding leases of plant or machinery
Part 1: Capital Allowances
Part 2: ...
Part 3: Income Tax
Part 4: Commencement and transitional provisions
Close section
Schedule 9: Leases of plant or machinery: miscellaneous amendments
Income and Corporation Taxes Act 1988
Taxation of Chargeable Gains Act 1992
...
Finance Act 2000
Capital Allowances Act 2001
Schedule 10: ...
Schedule 11: ...
Close section
Schedule 12: Settlements: amendment of TCGA 1992 etc
Part 1: Settlors, trustees and settlements
Part 2: Sub-fund settlements
Part 3: Consequential and minor amendments
Close section
Schedule 13: Settlements: amendments to ICTA and ITTOIA 2005 etc
Part 1: Principal amendments
Part 2: Minor and consequential amendments
Close section
Schedule 14: Investment reliefs: venture capital schemes
Part 1: ...
Part 2: ...
Part 3: ...
Part 4: ...
Part 5: ...
Close section
Schedule 15: Accountancy change: spreading of adjustment
Part 1: Income tax
Part 2: Corporation tax
Schedule 16: ...
Schedule 17: ...
Close section
Schedule 18: Oil taxation: market value of oil
Part 1: Amendments of the Oil Taxation Act 1975
Part 2: Amendments of other enactments
Schedule 19: ...
Close section
Schedule 20: Inheritance tax: rules for trusts etc
Part 1: "Trusts for bereaved minors", "age 18-to-25 trusts" and "accumulation and maintenance" trusts
Part 2: Interests in possession: when settled property is part of beneficiary's estate
Part 3: Related amendments in IHTA 1984
Part 4: Related amendments in TCGA 1992
Part 5: Property subject to a reservation
Part 6: Conditional exemption: relief from charges
Schedule 21: Taxable property held by investment-regulated pension schemes
Close section
Schedule 22: Pension schemes: inheritance tax
Introductory
Dispositions
Interpretation
Close section
Schedule 23: Pension schemes etc: miscellaneous
Introduction
Meaning of "pension credit member" etc: person dying before discharge of liability
Unauthorised payments: former members and sponsoring employers etc
"Bridging" pensions
Pension commencement lump sum: scheme pensions under money purchase arrangements
Short service refund lump sum: protected rights etc.
Refund of excess contributions lump sum: excess relief at source
Benefit crystallisation events: reaching 75 after designation for unsecured pension
Availability of individual's lifetime allowance: previous benefit crystallisation events
Overseas pension schemes: extension of migrant member relief
Abatement
Amendments and transitionals
Transitional provision: uncrystallised rights under paragraph 9 to include separate lump sums
Transitional protection: taking account of death benefits
Transitional protection: right to take benefits before normal pension age
Transitional provisions: minor corrections
Close section
Schedule 24: Stamp duty land tax: amendments of Schedule 15 to FA 2003
Introduction
Transfer of chargeable interest to a partnership
Transfer of chargeable interest from a partnership
Transfer of chargeable interest from a partnership to a partnership
Transfer of partnership interest: restriction of charge to property-investment partnerships
Prevention of double charge where money etc withdrawn from partnership
Commencement
Close section
Schedule 25: Stamp duty land tax: amendments of Schedule 17A to FA 2003
Introduction
Agricultural tenancies variable under statutory provisions
Backdated lease granted to tenant holding over
Disapplication of "new lease" treatment for certain rent increases after fifth year
Commencement
Close section
Schedule 26: Repeals
Part 1: Excise duties
Part 2: Value added tax
Part 3: Income tax, corporation tax and capital gains tax
Part 4: Real Estate Investment Trusts
Part 5: Oil
Part 6: Inheritance tax
Part 7: Stamp taxes
Part 8: Miscellaneous provisions
Close section
Finance Act 2007
Close section
Part 1: Charges, rates, thresholds etc
Income tax
Corporation tax
Alcohol and tobacco
Gambling
Environment
Close section
Part 2: Environment
Energy-saving: houses
Domestic microgeneration
Other measures
Close section
Part 3: Income tax, corporation tax and capital gains tax
Anti-avoidance
Insurance and friendly societies
Repos
CFCs
Venture capital schemes etc
REITs
Alternative finance
Trusts
Other corporation tax measures
Other income tax measures
Close section
Part 4: Pensions
68: Abolition of contributions relief for life assurance premium contributions
69: Alternatively secured pensions etc
70: Miscellaneous
Close section
Part 5: SDLT, stamp duty and SDRT
SDLT: anti-avoidance provisions
Reliefs in relation to shares etc
Other reliefs etc
SDLT: administration
Close section
Part 6: Investigation, administration etc
Investigation etc
Filing dates
Other administration
Close section
Part 7: Miscellaneous
Value added tax and insurance premium tax
Petroleum revenue tax
Other miscellaneous measures
Close section
Part 8: Final provisions
113: Interpretation
114: Repeals
115: Short title
SCHEDULES:
Close section
SCHEDULE 1: Remote gaming duty
Part 1: Imposition of duty
Part 2: Consequential amendments
SCHEDULE 2: Climate change levy: reduced-rate supplies etc
Close section
SCHEDULE 3: Managed service companies
Part 1: Amendments of ITEPA 2003
Part 2: Calculation of profits of MSCs: deduction for deemed employment payments
SCHEDULE 4: Restrictions on trade loss relief for partners
SCHEDULE 5: Avoidance involving financial arrangements
SCHEDULE 6: Companies carrying on business of leasing plant or machinery
Close section
SCHEDULE 7: Insurance business: gross roll-up business etc
Part 1: Amendments
Part 2: Transitional provisions
Close section
SCHEDULE 8: Insurance companies: basis of taxation etc
Part 1: Amendments
Part 2: Transitional provisions
SCHEDULE 9: Insurance companies: transfers etc
SCHEDULE 10: Insurance companies: miscellaneous
SCHEDULE 11: Technical provisions made by general insurers
SCHEDULE 12:
SCHEDULE 13: Sale and repurchase of securities
SCHEDULE 14: Sale and repurchase of securities: minor and consequential amendments
SCHEDULE 15: Controlled foreign companies
Close section
SCHEDULE 16: Venture capital schemes etc
Part 1: Limit on number of employees of company in which investment is made
Part 2: Limit on amount raised annually by company through risk capital schemes
Part 3: Excluded activities: receipt of royalties and licence fees
Part 4: Meaning of "qualifying 90% subsidiary"
Part 5: Other amendments
SCHEDULE 17: Real Estate Investment Trusts
SCHEDULE 18: Pensions schemes: abolition of relief for life assurance premium contributions etc
SCHEDULE 19: Alternatively secured pensions and transfer lump sum death benefit etc
SCHEDULE 20: Pension schemes etc: miscellaneous
SCHEDULE 21: Exemptions from stamp duty and SDRT: intermediaries, repurchases etc
Close section
SCHEDULE 22: Amendments and repeals consequential on extension of HMRC powers
Part 1: Amendments
Part 2: Repeals
SCHEDULE 23: Extension of HMRC powers: Scotland
Close section
SCHEDULE 24: Penalties for errors
Part 1: Liability for penalty
Part 2: Amount of penalty
Part 3: Procedure
Part 4: Miscellaneous
Part 5: General
Close section
SCHEDULE 25: Amendments connected with Gambling Act 2005
Part 1: Amendments of the Tax Acts
Part 2: Amendments of BGDA 1981
Part 3: Amendments of FA 1993 relating to lottery duty
Part 4: Amendments of FA 1997 relating to gaming duty
Part 5: Miscellaneous amendments
Part 6: Commencement
SCHEDULE 26: Meaning of "recognised stock exchange" etc
Close section
SCHEDULE 27: Repeals
Part 1: Environment
Part 2: Income tax, corporation tax and capital gains tax
Part 3: Pensions
Part 4: SDLT, stamp duty and SDRT
Part 5: Investigation, administration etc
Part 6: Miscellaneous
Close section
Finance Act 2008
Arrangement of sections
Close section
Part 1: Charges, rates, allowances, reliefs etc [ss.1-23]
Income tax [ss.1-5]
Corporation tax [ss.6-7]
Capital gains tax [ss.8-9]
Inheritance tax [s.10]
Alcohol and tobacco [ss.11-12]
Fuel duties [ss.13-16]
Environmental taxes and duties [ss.17-21]
Gambling duties [ss.22-23]
Close section
Part 2: Income tax, corporation tax and capital gains tax-general [ss.24-70]
Residence and domicile [ss.24-30]
Venture capital schemes etc [ss.31-33]
Other business and investment measures [ss.34-40]
Offshore funds [ss.40A-42A]
Insurance companies and friendly societies [ss.43-44]
Employment matters [ss.45-52]
Charities etc [ss.53-54]
Leasing [s.55]
Double taxation arrangements [ss.57-59]
Other anti-avoidance provisions [ss.60-66]
Miscellaneous [ss.67-70]
Close section
Part 3: Capital allowances [ss.71-89]
Plant and machinery: qualifying expenditure [ss.71-73]
Plant and machinery: annual investment allowance [s.74]
Plant and machinery: first-year allowances [ss.75-79]
Plant and machinery: writing-down allowances and pools [ss.80-83]
Industrial and agricultural buildings allowances [ss.84-87]
Supplementary provision [s.88]
Anti-avoidance [s.89]
Close section
Part 4: Pensions [ss.90-92]
90: Spreading of relief on indirect contributions
91: Inheritance etc of tax-relieved pension savings
92: Pension schemes: further provision
Close section
Part 5: Stamp taxes [ss.93-101]
Stamp duty land tax [ss.93-97]
Stamp duty [ss.98-101]
Close section
Part 6: Oil [ss.102-112]
Petroleum revenue tax [ss.102-107]
Corporation tax [ss.108-112]
Close section
Part 7: Administration
Chapter 1: Information etc [ss.113-117]
Chapter 2: Time limits for claims and assessments etc [ss.118-121]
Chapter 3: Penalties [ss.122-123]
Chapter 4: Appeals etc [ss.124-126]
Chapter 5: Payment and enforcement [ss.127-139]
Close section
Part 8: Miscellaneous [ss.140-164]
Inheritance tax [ss.140-141]
Insurance premium tax [ss.142-143]
Vehicle excise duty [ss.144-148]
Climate change levy and landfill tax [ss.149-151]
Aviation [ss.152-153]
Alternative finance arrangements [ss.154-157]
Payments from Exchequer accounts [ss.158-159]
Other matters [ss.160-164]
Close section
Part 9: Final provisions
165: Interpretation
166: Short title
Close section
Schedule 1: Abolition of starting and savings rates and creation of starting rate for savings
Part 1: Amendments of ITA 2007
Part 2: Other amendments
Part 3: Commencement
Close section
Schedule 2: Capital gains tax reform
Rate: consequentials
Abolition of taper relief
Abolition of "kink" test
Abolition of "halving relief"
Abolition of indexation allowance
Simplification of pooling etc
Meaning of "tax year"
Close section
Schedule 3: Entrepreneurs' relief
Introduction
Main provisions
Other amendments
Commencement
Transitionals: section 169P(4)(d)
Transitionals: reorganisations
Transitionals: EIS and VCT
Close section
Schedule 4: Inheritance tax: transfer of nil-rate band etc
Amendments of IHTA 1984
Amendment of TCGA 1992
Commencement
Modifications for cases where deceased person died before 25 July 1986
Schedule 5: Fuel duty: biodiesel and bioblend
Close section
Schedule 6: Aircraft and boat fuel, heating oil and fuel used for certain engines
Part 1: Fuel used in aircraft and boats
Part 2: Heavy oil used for heating or as fuel for certain engines
Close section
Schedule 7: Remittance basis
Part 1: Main provisions
Part 2: Non-resident companies and trusts etc
Schedule 8: ...
Schedule 9: ...
Schedule 10: ...
Close section
Schedule 11: Venture capital schemes
Corporate Venturing Scheme
Enterprise Investment Scheme
Venture capital trusts
Commencement
Close section
Schedule 12: Tax credit for certain foreign distributions
Part 1: The tax credit
Part 2: Consequential provision
Schedule 13: ...
Close section
Schedule 14: Company gains from investment life insurance contracts: consequential amendments etc
ICTA
ITTOIA 2005
Other repeals
Commencement
Close section
Schedule 15: Changes in trading stock
Part 1: Income tax
Part 2: ...
Close section
Schedule 16: Non-residents: investment managers
Part 1: ...
Part 2: Eligibility to be agent of independent status
Part 3: Non-residents liable to tax: disregarded investment income or profits
Part 4: Commencement
Close section
Schedule 17: Insurance companies etc
Financing-arrangement-funded transfers
Structural assets
Apportionments
UK distributions received by insurance companies
Abolition of "inherited estates" apportionment rules
Schedule 18: ...
Close section
Schedule 19: Reduction of basic rate of income tax: transitional relief for gift aid charities
Payment of gift aid supplement
Amount of gift aid supplement
The "notional basic rate"
Errors in connection with payment of gift aid supplement
General
Amendments
Close section
Schedule 20: Leases of plant or machinery
Capital received in respect of lease to be treated as income
Plant or machinery subject to a sale and finance leaseback or lease and finance leaseback
Restriction on lessee's right to elect that rules for non-long funding leases apply
Lessors under long funding leases of plant or machinery
Plant and machinery allowances: anti-avoidance
Close section
Schedule 21: Restriction on loss relief for non-active traders
Introduction
Main provisions
Other amendments
Commencement
Close section
Schedule 22: Avoidance involving financial arrangements
Rent factoring of leases of plant or machinery
Credit allowable in relation to interest
Partnerships
Restrictions on relief for interest payments
Close section
Schedule 23: Manufactured payments: anti-avoidance
Section 575
Section 580
Capital gains
Close section
Schedule 24: Annual investment allowance
Part 1: Amendments of CAA 2001
Part 2: Amendments of other enactments
Part 3: Commencement
Schedule 25: ...
Close section
Schedule 26: Special rate expenditure and the special rate pool
Part 1: Amendments of CAA 2001
Part 2: Commencement etc
Close section
Schedule 27: Abolition of allowances: consequential amendments and savings
Part 1: Consequential amendments
Part 2: Savings
Close section
Schedule 28: Inheritance of tax-relieved pension savings
Amendments of Part 4 of FA 2004
Commencement
Close section
Schedule 29: Further provision about pension schemes
Authorised member payments
Definition of investment-regulated pension schemes
Benefit crystallisation event 3
Transitional protection of lump sums
Miscellaneous provision about registered pension schemes
Employer contributions under exempt approved schemes
Inheritance tax treatment of non-UK pension schemes
Application of charges to non-UK pension schemes
Close section
Schedule 30: Stamp duty land tax: notification etc: consequential provision
FA 2003
FA 2007
Close section
Schedule 31: Stamp duty land tax: special provisions for property-investment partnerships
Part 1: Transfer of interest in partnership: "relevant partnership property"
Part 2: Elections in respect of interest transferred to partnership
Part 3: Transitional provision
Close section
Schedule 32: Stamp duty: abolition of fixed duty on certain instruments
Part 1: Abolition of fixed duty
Part 2: Consequential provisions and saving
Close section
Schedule 33: PRT: elections for oil fields to become non-taxable
Part 1: New Schedule 20A to FA 1993
Part 2: Other amendments
Close section
Schedule 34: Oil decommissioning expenditure: consequential amendments
ICTA
CAA 2001
Close section
Schedule 35: Set off against oil profits: minor and consequential amendments
ICTA
Close section
Schedule 36: Information and inspection powers
Part 1: Powers to obtain information and documents
Part 2: Power to inspect premises and other property
Part 3: Further powers
Part 4: Restrictions on powers
Part 5: Appeals against information notices
Part 6: Special cases
Registered pension schemes etc
Registered pension schemes etc: interpretation
Groups of undertakings
Change of ownership of companies
Partnerships
Information in connection with herd basis election
Information from persons liable to counteraction of tax advantage
Specified relevant transfer pricing documents
Application to the Crown
Part 7: Penalties
Part 8: Offence
Part 9: Miscellaneous provisions and interpretation
Part 10: Consequential provisions
Close section
Schedule 37: Record-keeping
TMA 1970
VATA 1994
FA 1998
Consequential provisions
Close section
Schedule 38: Disclosure of tax avoidance schemes
Amendments of Part 7 of FA 2004
Amendments of TMA 1970
Close section
Schedule 39: Time limits for assessments, claims etc.
TMA 1970
ICTA
TCGA 1992
VATA 1994
FA 1998
ITEPA 2003
ITTOIA 2005
ITA 2007
Consequential amendments
Schedule 40: Penalties: amendments of Schedule 24 to FA 2007
Close section
Schedule 41: Penalties: failure to notify and certain VAT and excise wrongdoing
Failure to notify etc
Issue of invoice showing VAT by unauthorised person
Putting product to use that attracts higher duty
Involvement in landfill disposal by unregistered person
Handling goods subject to unpaid excise duty etc
Degrees of culpability
Amount of penalty: standard amount
Potential lost revenue
Reductions for disclosure
Special reduction
Interaction with other penalties and late payment surcharges
Assessment
Appeal
Reasonable excuse
Agency
Companies: officers' liability
Double jeopardy
Interpretation
Consequential repeals
Schedule 42: Alcoholic liquor duties: decisions subject to review and appeal
Close section
Schedule 43: Taking control of goods etc: consequential provision
Part 1: Consequential provision: taking control of goods
Part 2: Consequential provision: summary warrant
Close section
Schedule 44: Certificates of debt: consequential provision
TMA 1970
OTA 1975
IHTA 1984
Social Security Administration Act 1992 (c. 5)
FA 1994
VATA 1994
FA 1996
FA 2000
FA 2001
FA 2003
Other repeals
Close section
Schedule 45: Vehicle excise duty: offence of using or keeping unlicensed vehicle
Introductory
Amendments of section 29
Amendment of section 30
Amendments of Schedule 2A
Close section
Schedule 46: Government borrowing: alternative finance arrangements
Introduction
Alternative finance arrangements that are to be available
Terms, conditions and procedures
Decisions to raise money through alternative finance arrangements
Involvement of persons other than the Treasury
Ancillary arrangements
Property
Powers and duties
Liabilities
Money raised
Other legislation
Things to be done otherwise than in regulations
Regulations to be made by SI
Parliamentary scrutiny
Interpretation
Close section
Finance Act 2009
Close section
Part 1: Charges, rates, allowances, etc
Income tax
Corporation tax
Value added tax
Stamp duty land tax
Alcohol and tobacco duties
Vehicle excise duty
Fuel duties
Other environmental taxes and duties
Gambling duties
Close section
Part 2: Income tax, corporation tax and capital gains tax
Support for business
Foreign profits etc
Loan relationships and derivatives
Collective investment
Insurance etc
Simplification
Residence and domicile
Employment income
Miscellaneous anti-avoidance provisions
Close section
Part 3: Pensions
72: Special annual allowance charge etc
73: Financial assistance scheme
74: FSCS intervention in relation to insurance in connection with pensions
75: Power to make retrospective non-charging provision
Close section
Part 4: Value added tax
76: Place of supply of services etc
77: Repayment to those in business in other States
78:
79: Effect of VAT changes on arbitration of rent for agricultural holdings
Close section
Part 5: Stamp taxes
Stamp duty land tax
Stock lending arrangements
Close section
Part 6: Oil
84: Capital allowances for oil decommissioning expenditure
85: Blended oil
86: Chargeable gains
87: Oil assets put to other uses
88: Former licensees and former oil fields
89: Abolition of provisional expenditure allowance
90:
91: Miscellaneous amendments
Close section
Part 7: Administration
Standards and values
Information etc
Assessments, claims etc
Interest
Penalties
Miscellaneous
Close section
Part 8: Miscellaneous
Gambling
Climate change levy
Other environmental taxes and duties
Other matters
Close section
Part 9: Final provisions
126: Interpretation
127: Short title
SCHEDULES:
SCHEDULE 1: Income tax: abolition of non-residents' personal reliefs
Close section
SCHEDULE 2: Income tax rates
Part 1: Amendments of ITA 2007
Part 2: Amendments of other Acts
Part 3: Commencement
Close section
SCHEDULE 3: VAT: supplementary charge and orders changing rate
Part 1: Supplementary charge to VAT
Part 2: Exceptions
Part 3: Liability and amount
Part 4: Listed supplies
Part 5: Administration and interpretation
Part 6: Amendments of VATA 1994
SCHEDULE 4: Vehicle excise duty: further provision about rates of duty etc
SCHEDULE 5: Air passenger duty
SCHEDULE 6: Temporary extension of carry back of losses
Close section
SCHEDULE 7: Contaminated and derelict land
Part 1: Amendments of Part 14 of CTA 2009
Part 2: Amendments of other enactments
Part 3: Commencement
SCHEDULE 8: Venture capital schemes
SCHEDULE 9:
SCHEDULE 10:
Close section
SCHEDULE 11: Tax relief for business expenditure on cars and motor cycles
Part 1: Capital allowances
Part 2: Restrictions on deductions for hire expenses
SCHEDULE 12: Reallocation of chargeable gain or loss within a group
SCHEDULE 13: Chargeable gains in stock lending: insolvency etc of borrower
Close section
SCHEDULE 14: Corporation tax treatment of company distributions
Part 1: Insertion of new Part 9A of CTA 2009
Part 2: Other amendments
Part 3: Commencement etc
Close section
SCHEDULE 15: Tax treatment of financing costs and income
Part 1: Introduction
Part 2: Application of this Schedule
Part 3: Disallowance of deductions
Part 4: Exemption of financing income
Part 5: Intra-group financing income where payer denied deduction
Part 6: Anti-avoidance
Part 7: "Financing expense amount" and "financing income amount"
Part 8: The "tested expense amount" and "tested income amount"
Part 9: The "available amount"
Part 10: Other interpretative provisions
Part 11: Consequential amendments and commencement
Close section
SCHEDULE 16: Controlled foreign companies
Part 1: Abolition of acceptable distribution policy exemption
Part 2: Amendment of exempt activities exemption
Part 3: Reduction in chargeable profits for certain financing income
Close section
SCHEDULE 17: International movement of capital
Part 1: Abolition of existing regime
Part 2: Reporting requirement
Part 3: Commencement etc
SCHEDULE 18:
SCHEDULE 19: Income tax credits for foreign distributions
SCHEDULE 20: Loan relationships: connected parties
SCHEDULE 21: Foreign exchange: anti-avoidance
Close section
SCHEDULE 22: Offshore funds
Part 1: Meaning of "offshore fund"
Part 2: Application of TCGA 1992 to offshore funds
SCHEDULE 23: Insurance companies
SCHEDULE 24: Disguised interest
Close section
SCHEDULE 25: Transfers of income streams
Part 1: Company transferors
Part 2: Non-corporate transferors
Part 3: Company transferees
Part 4: Consequential amendments and repeals
Part 5: Commencement
SCHEDULE 26: Certification of SAYE savings arrangements
Close section
SCHEDULE 27: Remittance basis
Part 1: Amendments of ITA 2007
Part 2: Amendments of other Acts
Part 3: Commencement
SCHEDULE 28: Taxable benefits: cars
SCHEDULE 29:
SCHEDULE 30: Financial arrangements avoidance
SCHEDULE 31:
SCHEDULE 32: Leases of plant or machinery
SCHEDULE 33: Long funding leases of films
SCHEDULE 34:
SCHEDULE 35: Pensions: special annual allowance charge
Close section
SCHEDULE 36: VAT: place of supply of services etc
Part 1: Amendments coming into force in 2010
Part 2: Amendments coming into force in 2011
Part 3: Amendments coming into force in 2013
Part 4: Transitional provisions
Close section
SCHEDULE 37: Stock lending: stamp taxes in the event of insolvency
Part 1: Stamp duty
Part 2: Stamp duty reserve tax
SCHEDULE 38: Capital allowances for oil decommissioning expenditure
SCHEDULE 39: PRT: blended oil
Close section
SCHEDULE 40: Oil: chargeable gains
Part 1: Licence swaps
Part 2: Reinvestment of ring fence assets
Close section
SCHEDULE 41: Oil assets put to other uses
Part 1: Petroleum revenue tax
Part 2: Capital allowances
Close section
SCHEDULE 42: PRT: former licensees and former oil fields
Part 1: Persons who cease to be licensees because of cessation events
Part 2: Areas treated as continuing to be oil fields
SCHEDULE 43: PRT: abolition of provisional expenditure allowance
SCHEDULE 44:
SCHEDULE 45: Oil: miscellaneous amendments
SCHEDULE 46: Duties of senior accounting officers of qualifying companies
SCHEDULE 47: Amendment of information and inspection powers
SCHEDULE 48: Extension of information and inspection powers
SCHEDULE 49: Powers to obtain contact details for debtors
SCHEDULE 50: Record-keeping
SCHEDULE 51: Time limits for assessments, claims etc
Close section
SCHEDULE 52: Recovery of overpaid tax etc
Part 1: Income tax and capital gains tax
Part 2: Corporation tax
Close section
SCHEDULE 53: Late payment interest
Part 1: Special provision: amount carrying late payment interest
Part 2: Special provision: late payment interest start date
Part 3: Special provision: date to which late payment interest runs
Part 4: Effect of interest on reliefs
Close section
SCHEDULE 54: Repayment interest
Part 1: Repayment interest start date: general rule
Part 2: Special provision as to repayment interest start date
PART 2A: VAT: special provision as to period for which amount carries interest
Part 3: Supplementary
Close section
Schedule 54A: Further provision as to late payment interest and repayment interest
PART 1: CORPORATION TAX
PART 2: Value added tax
SCHEDULE 55: Penalty for failure to make returns etc
SCHEDULE 56: Penalty for failure to make payments on time
Close section
SCHEDULE 57: Amendments relating to penalties
Part 1: >Amendments of Schedule 24 to FA 2007
Part 2: Amendments of Schedule 41 to FA 2008
Part 3: Other amendments
SCHEDULE 58: Recovery of debts under PAYE regulations
Close section
SCHEDULE 59: Climate change levy: removal of reduced rate
Part 1: New provision for removal of reduced rate
Part 2: Consequential amendments
SCHEDULE 60: Landfill tax: prescribed landfill site activities
Close section
SCHEDULE 61: Alternative finance investment bonds
Part 1: Introductory
Part 2: Issue, transfer and redemption of rights under arrangements
Part 3: Transactions relating to underlying assets consisting of land
Part 4: Supplementary
Close section
Finance Act 2010
Close section
Part 1: Charges, rates etc
Income tax
Corporation tax
Capital gains tax
Capital allowances
Stamp duty land tax
Inheritance tax
Alcohol and tobacco
Vehicle excise duty
Fuel duties
Other environmental taxes
Gambling
New taxes
Close section
Part 2: Anti-avoidance and revenue protection
Losses, capital allowances etc
Charities etc
Remittance basis
Other international matters
Securities etc
Close section
Part 3: Other provisions
Income tax: benefits in kind
Corporation tax
Miscellaneous
Final provisions
SCHEDULES:
Close section
SCHEDULE 1: Bank payroll tax
Part 1: The tax
Part 2: Collection and management of tax
Part 3: Definitions
SCHEDULE 2:
SCHEDULE 3: Sideways relief etc
SCHEDULE 4: Capital allowance buying
SCHEDULE 5: Leased assets
Close section
SCHEDULE 6: Charities and community amateur sports clubs: definitions
Part 1: Definition of "charity", "charitable company" and "charitable trust"
Part 2: Repeals of superseded definitions and other consequential amendments
Part 3: Meaning of "community amateur sports club"
Part 4: Commencement
SCHEDULE 7: Gifts of shares etc to charities
SCHEDULE 8: Charities: miscellaneous amendments
SCHEDULE 9: Foreign currency bank accounts
SCHEDULE 10: Penalties: offshore income etc
SCHEDULE 11: Reliefs and reductions for foreign tax
SCHEDULE 12: Transactions in securities
SCHEDULE 13:
SCHEDULE 14: Index-linked gilt-edged securities
SCHEDULE 15: Connected companies: releases of debts
SCHEDULE 16: Risk transfer schemes
SCHEDULE 17: Disclosure of tax avoidance schemes
SCHEDULE 18: Sale of lessors: election out of charge
SCHEDULE 19: Accounting standards: loan relationships and derivative contracts
SCHEDULE 20: Champions League final
Close section
Finance (No. 2) Act 2010
Close section
Part 1: Rates etc
Corporation tax
Capital gains tax
Value added tax
Insurance premium tax
Close section
Part 2: Other provisions
Pensions
Income tax
Corporation tax
Final provisions
SCHEDULES:
Close section
SCHEDULE 1: Rates of capital gains tax
Amendments of TCGA 1992
Amendments of FA 2008
Commencement
Transitionals
Close section
SCHEDULE 2: Supplementary charge to VAT
Part 1: Supplementary charge to VAT
Part 2: Exceptions
Part 3: Liability and amount
Part 4: Listed supplies
Part 5: Administration and interpretation
SCHEDULE 3:
Close section
SCHEDULE 4: Expenses paid to MPs etc
Accommodation expenses
UK travel and subsistence expenses
European travel expenses
Close section
SCHEDULE 5: Amounts not fully recognised for accounting purposes
Amendments of sections 311, 312 and 599A of CTA 2009
Commencement
Close section
Finance (No. 3) Act 2010
Close section
Part 1: Income tax, corporation tax and capital gains tax
Income tax and corporation tax
Chargeable gains
Capital allowances
Close section
Part 2: Other taxes and duties
Value added tax
Tobacco products duty
Landfill tax
Close section
Part 3: Administration
25: Interest: corporation tax and petroleum revenue tax
26: Penalties for failure to make returns etc
27: Penalties for failure to pay tax
28: Recovery of overpaid stamp duty land tax and petroleum revenue tax etc
29: Excise duties: compliance checks
Close section
Part 4: Miscellaneous provisions
30: Pension scheme under section 67 of Pensions Act 2008
31: Asbestos compensation settlements
Close section
Part 5: Final provisions
32: Interpretation
33: Short title
SCHEDULES:
Close section
SCHEDULE 1: Shared lives care
Extension of foster-care relief
Consequential amendments
Commencement
Transitional provision
Close section
SCHEDULE 2: Venture capital schemes
Enterprise investment scheme
Venture capital trusts
Interpretation
Consequential repeal
Commencement of amendments relating to 70% eligible shares condition
Commencement of other provisions of this Schedule
Meaning of "the commencement day"
Close section
SCHEDULE 3: Company distributions
Meaning of "distribution" in the Corporation Tax Acts
Meaning of "distribution" in Income Tax Acts
Distributions subject to the charge to corporation tax on income
Distributions giving rise to deemed disposals
Commencement
Treatment of distributions of UK resident companies made before 1 July 2009
Election to opt out of effect of Schedule in relation to a distribution made before 22 June 2010
Close section
SCHEDULE 4: REITs: stock dividends
Amendment of TCGA 1992
Amendment of ITA 2007
Amendment of CTA 2010
Commencement
SCHEDULE 5:
Close section
SCHEDULE 6: Consortium claims for group relief
Introductory
Ability to claim group relief where link company established in the EEA
Limitations on group relief based on proportion of voting power held by company
Limitations on group relief where arrangements preventing control are in place
Commencement
SCHEDULE 7: First-year allowances for zero-emission goods vehicles
Close section
SCHEDULE 8: Value added tax: non-business use of business assets etc
Input tax
Non-business use of certain assets not to be treated as supply of services
Output tax charge where credit attributable to purported paragraph 5(4) supply
Close section
SCHEDULE 9: Interest
Part 1: Corporation tax
Part 2: Petroleum revenue tax
SCHEDULE 10: Penalty for failure to make returns etc
SCHEDULE 11: Penalty for failure to make payments on time
Close section
SCHEDULE 12: Recovery of overpaid tax etc
Part 1: Stamp duty land tax
Part 2: Petroleum revenue tax
Close section
SCHEDULE 13: Excise duties: compliance checks
Part 1: Record-keeping
Part 2: Time limits
Part 3: Information and inspection powers
Close section
SCHEDULE 14: Asbestos compensation settlements
Inheritance tax
Capital gains tax
Income tax
Close section
Finance Act 2011
Close section
Part 1: Charges, rates, allowances etc
Income tax
Corporation tax
Capital gains tax
Capital allowances
Alcohol duties
Tobacco duties
Gambling duties
Fuel duties
Vehicle excise duty
Environmental taxes
Close section
Part 2: Income tax, corporation tax and capital gains tax
Anti-avoidance provisions
Exemptions and reliefs
Chargeable gains
Foreign profits
Investment trusts
Miscellaneous
Close section
Part 3: Oil
61: PRT: areas treated as continuing to be oil fields
62: Intangible fixed assets: oil licences
63: Reduction of supplementary charge for certain new oil fields
64: Chargeable gains: oil activities
Close section
Part 4: Pensions
65: Benefits under pension schemes
66: Annual allowance charge
67: Lifetime allowance charge
68: Borrowing by section 67 pension scheme
69: Exemption from tax on interest on unpaid relevant contributions
70: Power to make further provision about section 67 pension scheme
71: Tax provision consequential on Part 1 of Pensions Act 2008 etc
72: Foreign pensions of UK residents
Close section
Part 5: Bank levy
73: The bank levy
Close section
Part 6: Other taxes
Value added tax
Climate change levy
Aggregates levy
Stamp duty land tax
Stamp duty reserve tax
Close section
Part 7: Administration etc
85: Security for payment of PAYE
86: Data-gathering powers
87: Mutual assistance for recovery of taxes etc
Close section
Part 8: Miscellaneous provisions
88: Amendments of section 1 of the Provisional Collection of Taxes Act 1968
89: Specified investments
90: Machine games duty
91: Redundant reliefs
Close section
Part 9: Final provisions
92: Interpretation
93: Short title
SCHEDULES:
SCHEDULE 1: New high strength beer duty
SCHEDULE 2: Employment income provided through third parties
Close section
SCHEDULE 3: Tainted charity donations
Part 1: Income tax
Part 2: Corporation tax
Part 3: Capital gains tax
Part 4: Consequential amendments
Part 5: Commencement and transitional provision
SCHEDULE 4: Amounts not fully recognised for accounting purposes
SCHEDULE 5: Group mismatch schemes
SCHEDULE 6: Leasing businesses
SCHEDULE 7: Investment companies
SCHEDULE 8: Reduction in childcare relief for higher earners
SCHEDULE 9: Value shifting
SCHEDULE 10: Company ceasing to be member of group
SCHEDULE 11: Pre-entry losses
Close section
SCHEDULE 12: Controlled foreign companies
Part 1: Exemptions for companies with limited UK connection
Part 2: Amendment of small chargeable profits exemption
Part 3: Temporary exemption following reorganisation etc
Part 4: Holding companies: extension of transitional provision
Part 5: Minor and consequential amendments
Part 6: Commencement and transitional provision
Close section
SCHEDULE 13: Profits of foreign permanent establishments etc
Part 1: Amendments of CTA 2009
Part 2: Amendments of other Acts
Part 3: Commencement and transitional provision
Close section
SCHEDULE 14: Furnished holiday lettings
Part 1: Income tax
Part 2: Corporation tax
Part 3: Capital allowances
Part 4: Chargeable gains
Close section
SCHEDULE 15: Chargeable gains: oil activities
Part 1: Licence swaps
Part 2: Reinvestment of ring fence assets
Close section
SCHEDULE 16: Benefits under pension schemes
Part 1: Changes to benefits available under pension schemes etc
Part 2: Consequential amendments
Part 3: Commencement and transitional provision
Close section
SCHEDULE 17: Annual allowance charge
Part 1: Amendments
Part 2: Commencement and transitional provision
Close section
SCHEDULE 18: Lifetime allowance charge
Part 1: Amendments
Part 2: Commencement and transitional provision
Close section
SCHEDULE 19: The bank levy
Part 1: Introduction
Part 2: Charging of bank levy
Part 3: Groups covered by the bank levy
Part 4: Chargeable equity and liabilities
Part 5: Supplementary provision
Part 6: Collection and management
Part 7: Double taxation relief ETC
Part 8: Definitions
Part 9: Powers to amend
SCHEDULE 20:
SCHEDULE 21: Prevention of SDLT avoidance
SCHEDULE 22: Transfers involving multiple dwellings
Close section
SCHEDULE 23: Data-gathering powers
Part 1: Power to obtain data
Part 2: Relevant data-holders
Part 3: Appeals against data-holder notices
Part 4: Penalties
Part 5: Miscellaneous provision and interpretation
Part 6: Consequential provisions
Part 7: Application of this Schedule
SCHEDULE 24: Amendments of Schedule 36 to FA 2008
SCHEDULE 25: Mutual assistance for recovery of taxes etc
Close section
SCHEDULE 26: Redundant reliefs
Part 1: Income tax and corporation tax
Part 2: Stamp duty
Close section
Finance Act 2012
Arrangement of sections
Close section
Part 1: Income tax, corporation tax and capital gains tax
Chapter 1: Income tax and corporation tax charges and rate bands [ss.1-7]
Close section
Chapter 2: Income tax: general [ss.8-18]
Child benefit [ss.8]
Anti-avoidance [ss.9-12]
Reliefs [ss.13-16]
Other provisions [ss.17-18]
Close section
Chapter 3: Corporation tax: general [ss.19-33]
Support for business [ss.19-21]
Anti-avoidance [ss.22-24]
Insurance [ss.25-30]
Miscellaneous [ss.31-33]
Chapter 4: Capital gains [ss.34-37]
Close section
Chapter 5: Miscellaneous [ss.38-54]
Enterprise incentives [ss.38-40]
Capital allowances [ss.41-46]
Foreign income and gains [s.47]
Pensions [s.48]
Charitable giving etc [ss.49-52]
Other provisions [ss.53-54]
Close section
Part 2: Insurance companies carrying on long-term business [ss.55-149]
Close section
Chapter 1: Introductory [ss.55-65]
Outline of provisions of Part [s.55]
Meaning of "life assurance business" [s.56]
Meaning of "basic life assurance and general annuity business" [ss.57-62]
Meaning of "long-term business" and "PHI business" [s.63]
Meaning of contract of "insurance" or "long-term insurance" and "insurance company" [ss.64-65]
Close section
Chapter 2: Charge to tax on I - E basis etc [ss.66-72]
Separate businesses etc [ss.66-67]
BLAGAB taxed on I - E basis [ss.68-70]
Non-BLAGAB long-term business [s.71]
PHI only business [s.72]
Close section
Chapter 3: The I - E basis [ss.73-96]
Introduction [s.73]
Definitions of expressions comprising "I" [ss.74-75]
Definitions of expressions comprising "E" [ss.76-85]
Special rules applying to I - E basis [ss.86-91]
Deemed I - E receipts [s.92]
Minimum profits charge [ss.93-94]
Non-BLAGAB allowable losses [s.95]
Overseas life insurance companies [s.96]
Close section
Chapter 4: Apportionment rules for I - E charge [ss.97-101]
Introduction [s.97]
Allocation of income, losses and expenses [s.98]
Allocation of chargeable gains and allowable losses on disposals of assets [ss.99-101]
Close section
Chapter 5: I - E profit: policyholders' rate of tax [ss.102-108]
Tax rate on policyholders' share of I - E profit [ss.102-105]
Policyholder tax and calculation of BLAGAB trade profit or loss [ss.106-108]
Chapter 6: Trade calculation rules applying to long-term business [ss.109-113]
Chapter 7: Trading apportionment rules [ss.114-115]
Chapter 8: Assets held for purposes of long-term business [ss.116-122]
Close section
Chapter 9: Relief for BLAGAB trade losses etc [ss.123-127]
The reliefs [ss.123-125]
Restrictions [ss.126-127]
Close section
Chapter 10: Transfers of long-term business [ss.128-135]
Transfers of BLAGAB [ss.128-130]
Transfers of non-BLAGAB long-term business [s.131]
Transfers of long-term business: anti-avoidance [ss.132-134]
Interpretation [s.135]
Chapter 11: Definitions [ss.136-141]
Close section
Chapter 12: Supplementary [ss.142-149]
Powers conferred on Treasury or HMRC Commissioners [ss.142-145]
Minor and consequential amendments and transitional provision [ss.146-147]
Commencement etc [ss.148-149]
Close section
Part 3: Friendly societies carrying on long-term business [ss.150-179]
Outline of provisions of Part [s.150]
Long-term business rules to apply to friendly societies [ss.151-152]
Exempt BLAGAB or eligible PHI business [ss.153-159]
Exempt BLAGAB or eligible PHI business: benefits payable by friendly societies etc [ss.160-162]
Exempt BLAGAB or eligible PHI business: directions to old societies [ss.163]
Exemption for other business [ss.164-169]
Miscellaneous [ss.170-171]
Interpretation [ss.172-174]
Regulations [s.175]
Consequential amendments and transitional provision [ss.176-177]
Commencement etc [ss.178-179]
Close section
Part 4: Controlled foreign companies and foreign permanent establishments [s.180]
180: Controlled foreign companies and foreign permanent establishments
Close section
Part 5: Oil [ss.181-184]
181: Transfers within a group by companies carrying on ring fence trade
182: Supplementary charge
183: Relief in respect of decommissioning expenditure
184: Reduction of supplementary charge for certain oil fields
Close section
Part 6: Excise duties [ss.185-195]
Tobacco products duty [s.185]
Alcoholic liquor duties [ss.186-187]
Hydrocarbon oil etc duties [ss.188-189]
Air passenger duty [s.190]
Gambling duties [ss.191-194]
Vehicle excise duty [s.195]
Close section
Part 7: Value added tax [ss.196-204]
196: Changes to the categorisation of supplies
197: Exempt supplies
198: Supply of goods or services by public bodies
199: Relief from VAT on low value goods: restriction relating to Channel Islands
200: Group supplies using an overseas member
201: Face-value vouchers
202: Power to require notification of arrival of means of transport in UK
203: Non-established taxable persons
204: Administration of VAT
Close section
Part 8: Other taxes [ss.205-217]
Landfill tax [ss.205-206]
Climate change levy [s.207]
Inheritance tax [ss.208-210]
Bank levy [s.211]
Stamp duty land tax, stamp duty reserve tax and stamp duty [ss.212-217]
Close section
Part 9: Miscellaneous matters [ss.218-227]
International matters [ss.218-220]
Financial sector regulation [ss.221]
Incapacitated persons and minors [ss.222]
Administration [ss.223-225]
High value residential property or dwellings [s.226]
Miscellaneous reliefs etc [s.227]
Close section
Part 10: Final provisions [ss.228-229]
228: Interpretation
229: Short title
Close section
Schedule 1: High income child benefit charge
The high income child benefit charge
Consequential amendments
Commencement
Close section
Schedule 2: Profits arising from the exploitation of patents etc
Part 1: Amendments of CTA 2010
Part 2: Amendments of TIOPA 2010
Part 3: Commencement and transitional provision
Close section
Schedule 3: Relief for expenditure on R&D
Introductory
Amount of relief for expenditure on R&D by small or medium-sized enterprises ("SMEs")
Removal of R&D threshold
Company not a going concern when in administration or liquidation
Removal of limit on amount of tax credit based on PAYE and NIC liabilities
Abolition of vaccine research relief for SMEs
Qualifying expenditure on externally provided workers
Application
Close section
Schedule 4: Real estate investment trusts
Introduction
Being a UK REIT: conditions for company - close companies
Being a UK REIT: conditions for company - trading of shares on recognised stock exchange
Being a UK REIT: condition as to distribution of profits
Being a UK REIT: conditions as to balance of business
Abolition of entry charge
Financing cost ratio
Disposal of assets
Schedule 5: ...
Close section
Schedule 6: Seed enterprise investment scheme
Part 1: The scheme
Part 2: Relief for capital gains
Part 3: Consequential amendments
Part 4: Commencement
Close section
Schedule 7: Enterprise investment scheme
Part 1: Enterprise investment scheme
Part 2: Enterprise investment scheme: chargeable gains
Close section
Schedule 8: Venture capital schemes
Introduction
VCT approvals
Qualifying holdings: introduction
Relaxation of maximum qualifying investment requirement
Increase in the maximum amount permitted to be raised annually
Acquisition of shares
Increase in the gross assets limits
No disqualifying arrangements requirement
Subsidised generation or export of electricity
Information
Consequential amendment
Commencement and transitional provision
Close section
Schedule 9: Capital allowances for plant and machinery: anti-avoidance
Transactions to obtain allowances
Restrictions on writing-down allowances
Restriction of exception for manufacturers and suppliers
Relevant transactions
Commencement
Close section
Schedule 10: Plant and machinery allowances: fixtures
Introductory
Changes in ownership
Fixtures on which business premises renovation allowance has been made
Commencement and transitionals
Schedule 11: Expenditure on plant and machinery for use in designated assisted areas
Close section
Schedule 12: Foreign income and gains
Part 1: Increased remittance basis charge
Part 2: Remittance for investment purposes
Part 3: Sales of exempt property
Part 4: Nominated income
Close section
Schedule 13: Employer asset-backed pension contributions etc
Part 1: Denial of relief for contributions paid during period 29 November 2011 to 21 February 2012
Part 2: Transitional provision relating to Part 1
Part 3: Denial of relief for contributions paid on or after 22 February 2012
Part 4: Transitional provision relating to Part 3
Part 5: Other provision relating to finance arrangements
Close section
Schedule 14: Gifts to the nation
Part 1: Introduction
Part 2: Income tax and capital gains tax
Part 3: Corporation tax
Part 4: General provision
Part 5: Related changes
Part 6: Commencement
Close section
Schedule 15: Relief in respect of gift aid and other income
Claims by charitable trusts etc
Claims by charitable companies etc
Community amateur sports clubs: gift aid and other income
Treatment of income tax deducted or repaid
Administration of claims under ITA 2007
Administration of claims under CTA 2010
Application
Close section
Schedule 16: Part 2: minor and consequential amendments
Part 1: Amendments of ICTA
Part 2: Amendments of FA 1989
Part 3: Amendments of other Acts
Part 4: Consequential repeals
Close section
Schedule 17: Part 2: transitional provision
Part 1: Deemed receipts or expenses
Part 2: Specific transitional provisions
Part 3: Supplementary
Close section
Schedule 18: Part 3: consequential amendments
Income and Corporation Taxes Act 1988
Taxation of Chargeable Gains Act 1992
Income Tax (Trading and Other Income) Act 2005
Corporation Tax Act 2009
Consequential repeals
Close section
Schedule 19: Part 3: transitional provision
Approvals given for purposes of section 461 or 461C of ICTA
General transitional provision in relation to provisions re-enacted in Part 3 of this Act
Close section
Schedule 20: Controlled foreign companies and foreign permanent establishments
Part 1: Controlled foreign companies
Part 2: Foreign permanent establishments
Part 3: Other amendments
Part 4: Commencement provision
Part 5: Transitional provision
Close section
Schedule 21: Relief in respect of decommissioning expenditure
Restriction of relief available in respect of decommissioning expenditure
Extension of loss relief available in respect of decommissioning expenditure
Application
Close section
Schedule 22: Reduction of supplementary charge for certain oil fields
Amendments of Chapter 7 of Part 8 of CTA 2010
Consequential amendments
Commencement
Close section
Schedule 23: Air passenger duty
Part 1: Northern Ireland long haul rates of duty from 1 November 2011 to 31 March 2012
Part 2: Rates of duty from 1 April 2012
Part 3: Devolution of Northern Ireland long haul rates of duty
Part 4: Other provision
Close section
Schedule 24: Machine games duty
Part 1: Imposition of duty
Part 2: Removal of amusement machine licence duty
Part 3: VAT exemption
Part 4: Miscellaneous
Close section
Schedule 25: Remote gambling: double taxation relief
Unilateral relief
Consequential amendments
Commencement
Close section
Schedule 26: Categorisation of supplies
Part 1: Zero-rated supplies
Part 2: Exempt supplies
Part 3: Supplies chargeable at reduced rate
Part 4: Commencement and transitional provision
Close section
Schedule 27: Anti-forestalling charge to VAT
Part 1: Anti-forestalling charge to VAT
Part 2: Liability and amount
Part 3: Administration and interpretation
Close section
Schedule 28: Non-established taxable persons
New Schedule 1A
Other amendments of VATA 1994
Amendments of other Acts
Application
Schedule 29: Administration of VAT
Close section
Schedule 30: Climate change levy
Part 1: Reduced-rate supplies on or after 1 April 2011: deemed supply
Part 2: Taxable supplies on or after 1 April 2012 for use in recycling processes
Part 3: Rates of climate change levy for supplies on or after 1 April 2013
Schedule 31: Climate change levy: climate change agreements
Close section
Schedule 32: Climate change levy: supplies subject to the carbon price support rates and combined heat and power stations
Part 1: ...
Part 2: ...
Part 3: Electricity produced in combined heat and power stations
Close section
Schedule 33: Inheritance tax: gifts to charities etc
Reduced rate of inheritance tax
Consequential amendments
Instruments of variation to be notified to charities etc
Commencement
Close section
Schedule 34: Bank levy
Introductory
Rates 2012
Rates from 2013
Joint ventures
Double taxation relief
Transitional provision
Close section
Schedule 35: Stamp duty land tax: higher rate for certain transactions
Introductory
Higher rate of tax: main provisions
Higher rate of tax: exercise of collective rights by tenants of flats
Minor and consequential amendments
Application of amendments
Close section
Schedule 36: Agreement between UK and Switzerland
Part 1: Introduction
Part 2: The past
Part 3: The future: income tax and capital gains tax
Part 4: The future: inheritance tax
Part 5: General provisions
Close section
Schedule 37: International military headquarters, EU forces, etc
FA 1960
IHTA 1984
ITEPA 2003
ITA 2007
Close section
Schedule 38: Tax agents: dishonest conduct
Part 1: Introduction
Part 2: Establishing dishonest conduct
Part 3: Power to obtain tax agent's files etc
Part 4: Sanctions for dishonest conduct
Part 5: Penalties: assessment etc
Part 6: Miscellaneous provision and interpretation
Part 7: Consequential provisions
Close section
Schedule 39: Repeal of miscellaneous reliefs etc
Part 1: Stamp duty and stamp duty land tax
Part 2: Repeal of harbour reorganisation scheme reliefs
Part 3: Payments relating to reductions in pool betting duty
Part 4: Life assurance
Part 5: Capital allowances
Part 6: Mineral leases or agreements
Part 7: Miscellaneous
Close section
Finance Act 2013
Close section
PART 1: Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER 1: Charges, rates etc
CHAPTER 2: Income tax: general
CHAPTER 3: Corporation tax: general
CHAPTER 4: Pensions
CHAPTER 5: Other provisions
Close section
PART 2: Oil
Decommissioning relief agreements
Decommissioning security settlements
Decommissioning expenditure etc
Capital allowances
Close section
PART 3: Annual tax on enveloped dwellings
The charge to tax
Adjustment of amount charged
Chargeable interests and "single-dwelling interest"
Meaning of "dwelling"
Acquisitions and disposals
New dwellings, conversions, demolition etc
Reliefs
Exemptions
Power to modify reliefs
Alternative property finance
Administration and payment of tax
Application of provisions
Supplementary provisions
Interpretation
Close section
PART 4: Excise duties and other taxes
Inheritance tax
Fuel
Alcohol
Tobacco
Gambling
Air passenger duty
Vehicle excise duty
Value added tax
Stamp duty land tax
Landfill tax
Climate change levy
Insurance premium tax
Bank levy
Close section
PART 5: General anti-abuse rule
206: General anti-abuse rule
207: Meaning of "tax arrangements" and "abusive"
208: Meaning of "tax advantage"
209: Counteracting the tax advantages
209AA: Protective GAAR notices
209AB: Adjustments under section 209: notices under Schedule 43 or 43A
209ABA: Adjustments under section 209: notices under Schedule 43D
209AC: Sections 209AA to 209ABA: definitions
209A:
209B:
209C:
209D:
209E:
209F:
210: Consequential relieving adjustments
211: Proceedings before a court or tribunal
212: Relationship between the GAAR and priority rules
212A: Penalty
212B: Penalty: partnerships
213: Consequential amendment
214: Interpretation of Part 5
215: Commencement and transitional provision
Close section
PART 6: Other provisions
Trusts
Unit trusts
Residence
International matters
Disclosure
Powers
Payment
Administration
Interim remedies
Close section
PART 7: Final provisions
235: Interpretation
236: Short title
SCHEDULES:
SCHEDULE 1: Annual investment allowance: periods straddling 1 January 2013 or 1 January 2015
Close section
SCHEDULE 2: Tax advantaged employee share schemes
PART 1: Retirement of participants
PART 2: "Good leavers" (other than retirees)
PART 3: Material interest rules
PART 4: Restricted shares
PART 5: Share incentive plans: partnership shares
PART 6: Share incentive plans: dividend shares
PART 7: Share incentive plans: employee share ownership trusts
PART 8: Enterprise management incentives: consequences of disqualifying events
SCHEDULE 3: Limit on income tax reliefs
Close section
SCHEDULE 4: Cash basis for small businesses
PART 1: Main provisions
PART 2: Consequential amendments
PART 3: Commencement and transitional provision
SCHEDULE 5: Deductions allowable at a fixed rate
Close section
SCHEDULE 6: Employment income: duties performed in the UK and overseas
PART 1: Apportionment of earnings
PART 2: Remittance basis of taxation: special mixed fund rules
PART 3: Commencement
SCHEDULE 7: Remittance basis: exempt property
SCHEDULE 8: Gains from contracts for life insurance etc
Close section
SCHEDULE 9: Qualifying insurance policies
PART 1: Amendments of Schedule 15 to ICTA etc
PART 2: Restricted relief qualifying policies
PART 3: Information powers
Close section
SCHEDULE 10: Transfer of assets abroad
PART 1: Introduction
PART 2: New exemption for genuine transactions etc
PART 3: Amendments relating to the charges under sections 720 and 727
SCHEDULE 11: Deduction of income tax at source etc
SCHEDULE 12: Disguised interest
SCHEDULE 13: Change in ownership of shell company: restriction of relief
SCHEDULE 14: Transfer of deductions
Close section
SCHEDULE 15: R&D expenditure credits
PART 1: Amendments of CTA 2009
PART 2: Consequential amendments
PART 3: Abolition of certain relief under Part 13 of CTA 2009
PART 4: Commencement and transitional provision
Close section
SCHEDULE 16: Tax relief for television production
PART 1: Amendments of CTA 2009
PART 2: Commencement
Close section
SCHEDULE 17: Tax relief for video games development
PART 1: Amendments of CTA 2009
PART 2: Commencement
SCHEDULE 18: Television and video games tax relief: consequential amendments
SCHEDULE 19: Real estate investment trusts: UK REITs which invest in other UK REITs
SCHEDULE 20: Tax mismatch schemes
SCHEDULE 21: Community amateur sports clubs
Close section
SCHEDULE 22: Transitional provision relating to reduction in standard lifetime allowance etc
PART 1: "Fixed protection 2014"
PART 2: Other provision
Close section
SCHEDULE 23: Employee shareholder shares
PART 1: Income tax treatment of employee shareholder shares
PART 2: Capital gains tax exemption for employee shareholder shares
PART 3: Corporation tax
PART 4: Employment income exemption
PART 5: Commencement
SCHEDULE 24: EMI options and entrepreneurs' relief etc
Close section
SCHEDULE 25: Charge on certain high value disposals by companies etc
PART 1: Taxation of Chargeable Gains Act 1992
PART 2: Other amendments
PART 3: Commencement
SCHEDULE 26: Restrictions on buying capital allowances
SCHEDULE 27: Community investment tax relief
SCHEDULE 28: Lease premium relief
Close section
SCHEDULE 29: Manufactured payments
PART 1: Income tax
PART 2: Corporation tax
PART 3: Consequential etc amendments
PART 4: Commencement
Close section
SCHEDULE 30: Close companies
PART 1: Amendments of Part 10 of CTA 2010
PART 2: Other amendments
Close section
SCHEDULE 31: Miscellaneous amendments relating to decommissioning
PART 1: Abandonment guarantees and abandonment expenditure
PART 2: Receipts arising from decommissioning
PART 3: Commencement
Close section
SCHEDULE 32: Restrictions on allowances for certain oil-related expenditure
PART 1: Decommissioning expenditure
PART 2: Expenditure on site restoration
PART 3: Amendments of TIOPA 2010
Close section
SCHEDULE 33: Annual tax on enveloped dwellings: returns, enquiries, assessments and appeals
PART 1: Returns
PART 2: Duty to keep and preserve records
PART 3: Enquiry into return
PART 4: HMRC determination where no return delivered
PART 5: HMRC assessments
PART 6: Relief in case of overpaid tax or excessive assessment
PART 7: Reviews and appeals
PART 8: Supplementary
Close section
SCHEDULE 34: Annual tax on enveloped dwellings: information and enforcement
PART 1: Information and inspection powers
PART 2: Penalties
Close section
SCHEDULE 35: Annual tax on enveloped dwellings: miscellaneous amendments and transitory provision
PART 1: Miscellaneous amendments
PART 2: Transitory provision: the first chargeable period
SCHEDULE 36: Treatment of liabilities for inheritance tax purposes
SCHEDULE 37: Vehicle licences for disabled people
SCHEDULE 38: Valuation of certain supplies of fuel
SCHEDULE 39: Stamp duty land tax: transactions entered into before completion of contract
SCHEDULE 40: Stamp duty land tax: relief from 15% rate
SCHEDULE 41: Stamp duty land tax on leases
Close section
SCHEDULE 42: Climate change levy: supplies subject to carbon price support rates etc
PART 1: Earlier provision not to have effect
PART 2: New provision having effect from 1 April 2013
PART 3: Carbon price support rates from 1 April 2014
PART 4: Carbon price support rates from 1 April 2015
SCHEDULE 43: General anti-abuse rule: procedural requirements
SCHEDULE 43A: Procedural requirements: pooling notices and notices of binding
SCHEDULE 43B: Procedural requirements: generic referral of tax arrangements
SCHEDULE 43C: Penalty under section 212A or 212B: supplementary provision
Close section
SCHEDULE 43D: The GAAR and partnerships
PART 1: General
PART 2: Protective GAAR notices
PART 3: Notices of proposed counteraction
PART 4: Pooling notices and notices of binding
SCHEDULE 44: Trusts with vulnerable beneficiary
Close section
SCHEDULE 45: Statutory residence test
PART 1: The rules
PART 2: Key concepts
PART 3: Split year treatment
PART 4: Anti-avoidance
PART 5: Miscellaneous
Close section
SCHEDULE 46: Ordinary residence
PART 1: Income tax and capital gains tax: remittance basis of taxation
PART 2: Income tax: arising basis of taxation
PART 3: Capital gains tax: accruals basis of taxation
PART 4: Other amendments
SCHEDULE 47: Controlled foreign companies
SCHEDULE 48: Proceeds of crime: powers of officers of Revenue and Customs
SCHEDULE 49: Corporation tax: deferral of payment of exit charge
SCHEDULE 50: Penalties: late filing, late payment and errors
SCHEDULE 51: Withdrawal of notice to file etc
Close section
Finance Act 2014
Close section
PART 1: Income tax, corporation tax and capital gains tax
CHAPTER 1: Charge, rates etc
CHAPTER 2: Income tax: general
CHAPTER 3: Corporation tax: general
CHAPTER 4: Other provisions
Close section
PART 2: Excise duties and other taxes
Alcohol
Tobacco
Air passenger duty
Vehicle excise duty
HGV road user levy
Climate change levy
Landfill tax
Excise and customs duties: general
Value added tax
Stamp duty land tax and annual tax on enveloped dwellings
Stamp duty reserve tax and stamp duty
Inheritance tax
Estate duty
Bank levy
Gaming duty
Bingo duty
Machine games duty
Close section
PART 3: General betting duty, pool betting duty and remote gaming duty
CHAPTER 1: General betting duty
CHAPTER 2: Pool betting duty
CHAPTER 3: Remote gaming duty
CHAPTER 4: General
Close section
PART 4: Follower notices and accelerated payments
CHAPTER 1: Introduction
CHAPTER 2: Follower notices
CHAPTER 3: Accelerated payment
CHAPTER 4: Miscellaneous and general provision
Close section
PART 5: Promoters of tax avoidance schemes
Introduction
Stop notices
Conduct notices
Defeat notices
Monitoring notices: procedure and publication
Allocation and distribution of promoter reference number
Obtaining information and documents
Obtaining information and documents: appeals
Obtaining information and documents: supplementary
Penalties
Offences
Supplemental
Close section
PART 6: Other provisions
Anti-avoidance
Code of Practice on Taxation for Banks
Offshore funds
Employee-ownership trusts
Trusts
International matters
Financial sector regulation
Scotland
Co-operative societies etc
Limitation periods
Local loans
Close section
PART 7: Final provisions
301: Power to update indexes of defined terms
302: Interpretation
303: Short title
SCHEDULES:
Close section
SCHEDULE 1: Corporation tax rates
PART 1: Abolition of small profits rate for non-ring fence profits
PART 2: Amendments consequential on Part 1 of this Schedule
PART 3: Commencement and transitional provision
Close section
SCHEDULE 2: Annual investment allowance: transitional provisions etc
PART 1: Transitional provisions
PART 2: Amendments of FA 2013
SCHEDULE 3: Restrictions on remittance basis
Close section
SCHEDULE 4: Tax relief for theatrical production
PART 1: Amendments of CTA 2009
PART 2: Consequential amendments
PART 3: Commencement
SCHEDULE 5: Pension flexibility: further amendments
Close section
SCHEDULE 6: Transitional provision relating to new standard lifetime allowance for the tax year 2014-15 etc
PART 1: "Individual protection 2014"
PART 2: Regulations
PART 3: Other provision
SCHEDULE 7: Pension schemes
Close section
SCHEDULE 8: Employee share schemes
PART 1: Share incentive plans
PART 2: SAYE option schemes
PART 3: CSOP schemes
PART 4: Enterprise management incentives
PART 5: Other employee share schemes
Close section
SCHEDULE 9: Employment-related securities etc
PART 1: Internationally mobile employees
PART 2: Restricted securities and securities acquired for less than market value: replacement and additional securities and rollover relief etc
PART 3: Corporation tax relief for employee share acquisitions
PART 4: Commencement etc
SCHEDULE 10: Venture capital trusts
Close section
SCHEDULE 11: Tax relief for social investments
PART 1: New Part 5B of ITA 2007
PART 2: Consequential amendments
SCHEDULE 12: Investments in social enterprises: capital gains
SCHEDULE 13: General Block Exemption Regulation
SCHEDULE 14:
Close section
SCHEDULE 15: Supplementary charge: onshore allowance
PART 1: Amendments of Part 8 of CTA 2010
PART 2: Minor and consequential amendments
PART 3: Commencement and transitional provision
SCHEDULE 16: Oil contractors: ring-fence trade etc
Close section
SCHEDULE 17: Partnerships
PART 1: Limited liability partnerships: treatment of salaried members
PART 2: Partnerships with mixed membership
PART 3: Alternative investment fund managers: deferred remuneration etc
PART 4: Disposals of assets through partnerships
Close section
SCHEDULE 18: Abolition of reduced rates for vehicles satisfying reduced pollution requirements
PART 1: Amendments of the Vehicle Excise and Registration Act 1994
PART 2: Commencement
Close section
SCHEDULE 19: Other amendments about vehicle excise duty
PART 1: Amendments of the Vehicle Excise and Registration Act 1994
PART 2: Amendments of other enactments
PART 3: Commencement
Close section
SCHEDULE 20: Climate change levy: exemptions for mineralogical and metallurgical processes etc
PART 1: The exemptions
PART 2: Other provision
SCHEDULE 21: Goods shipped or carried as stores on ships or aircraft
SCHEDULE 22:
SCHEDULE 23: SDLT: charities relief
Close section
SCHEDULE 24: Abolition of stamp duty and SDRT: securities on recognised growth markets
PART 1: Stamp duty reserve tax
PART 2: Stamp duty
SCHEDULE 25: Inheritance tax
SCHEDULE 26: The bank levy: miscellaneous changes
SCHEDULE 27: Suspension and revocation of remote operating licences
Close section
SCHEDULE 28: Part 3: consequential amendments and repeals
PART 1: Betting and Gaming Duties Act 1981
PART 2: Other amendments and repeals
SCHEDULE 29: Part 3: transitional and saving provisions
SCHEDULE 30: Section 208 or 208A penalty: value of the denied advantage
SCHEDULE 31: Follower notices and partnerships
SCHEDULE 32: Accelerated payments and partnerships
SCHEDULE 33: Part 4: consequential amendments
SCHEDULE 33A: Promotion structures
Close section
SCHEDULE 34: Promoters of tax avoidance schemes: threshold conditions
PART 1: Meeting the threshold conditions: general
PART 2: Meeting the threshold conditions: bodies corporate and partnerships
PART 3: Power to amend
Close section
SCHEDULE 34A: Promoters of tax avoidance schemes: defeated arrangements
PART 1: Introduction
PART 2: Meaning of "relevant defeat"
PART 3: Relevant defeats: associated persons
PART 4: Meeting section 237A conditions: bodies corporate and partnerships
PART 5: Supplementary
SCHEDULE 35: Promoters of tax avoidance schemes: penalties
Close section
SCHEDULE 36: Promoters of tax avoidance schemes: partnerships
PART 1: Partnerships as persons
PART 2: Conduct notices and monitoring notices
PART 3: Responsibility of partners
PART 4: Interpretation
Close section
SCHEDULE 37: Companies owned by employee-ownership trusts
PART 1: Capital gains tax relief
PART 2: Employment income exemption
PART 3: Inheritance tax relief
PART 4: Miscellaneous amendments
Close section
SCHEDULE 38: Scottish basic, higher and additional rates of income tax
PART 1: Amendments of ITA 2007
PART 2: Consequential amendments
SCHEDULE 39: Taxation of co-operative societies etc
Close section
Finance Act 2015
Arrangement of sections
Close section
Part 1: Income tax, corporation tax and capital gains tax [ss.1-51]
Chapter 1: Charge, rates etc [ss.1-6]
Chapter 2: Income tax: general [ss.7-24]
Chapter 3: Corporation tax: general [ss.25-33]
Close section
Chapter 4: Other provisions [ss.34-51]
Pensions [s.34]
Flood and coastal defence [s.35]
Investment reliefs [s.36]
Capital gains tax [ss.37-44]
Capital allowances [ss.45-46]
Oil and gas [ss.47-51]
Close section
Part 2: Excise duties and other taxes [ss.52-76]
Petroleum revenue tax [s.52]
Alcohol [ss.53-54]
Tobacco [ss.55-56]
Air passenger duty [s.57]
Vehicle excise duty [ss.58-59]
Gaming duty [s.60]
Aggregates levy [s.61]
Climate change levy [ss.62-63]
Landfill tax [ss.64-65]
Value added tax [ss.66-67]
Stamp duty land tax [ss.68-69]
Annual tax on enveloped dwellings [ss.70-73]
Inheritance tax [ss.74-75]
The bank levy [s.76]
Close section
Part 3: Diverted profits tax [ss.77-116]
Introduction and overview [ss.77-78]
Charge to tax [s.79]
Involvement of entities or transactions lacking economic substance [ss.80-81]
Calculation of taxable diverted profits: section 80 or 81 cases [ss.82-85]
Avoidance of a UK taxable presence [ss.86-87]
Calculation of taxable diverted profits: section 86 cases [ss.88-91]
Duty to notify if within scope [s.92]
Process for imposing charge [ss.93-97]
Payment and recovery of tax [ss.98-100A]
Review and appeals [ss.101-102]
Administration of tax [ss.103-105]
Interpretation [ss.106-114]
Final provisions [ss.114A-116]
Close section
Part 4: Other provisions [ss.117-124]
Anti-avoidance [ss.117-121]
Other tax-related matters [ss.122-123]
Government stock [s.124]
Close section
Part 5: Final provisions [ss.125-127]
125: Commencement orders and regulations
126: Interpretation
127: Short title
Close section
Schedule 1: Extension of benefits code except in relation to certain ministers of religion
Part 1: Amendments of ITEPA 2003
Part 2: Amendments of other enactments
Close section
Schedule 2: Restrictions applying to certain deductions made by banking companies
Part 1: Main provisions
Part 2: Consequential amendments
Part 3: Commencement and anti-forestalling provision
Close section
Schedule 3: Tax avoidance involving carried-forward losses
Part 1: Amendments of CTA 2010
Part 2: Commencement
Close section
Schedule 4: Pension flexibility: annuities etc
Part 1: Death benefits for nominees, successors and dependants
Part 2: Income tax on beneficiaries' annuities etc
Close section
Schedule 5: Relief for contributions to flood and coastal erosion risk management projects
Income tax: trade profits
Income tax: profits of a property business
Corporation tax: trading income and trade profits
Corporation tax: profits of a property business
Corporation tax: investment business
Commencement
Close section
Schedule 6: Investment reliefs: excluded activities
Part 1: Part 5B of ITA 2007: amendment coming into force on passing of Act
Part 2: Part 5 of ITA 2007: excluded activities from 6 April 2015
Part 3: Part 6 of ITA 2007: excluded activities from 6 April 2015
Part 4: Further amendments of Parts 5 to 6 of ITA 2007
Close section
Schedule 7: Disposals of UK residential property interests by non-residents etc
Part 1: Amendments of TCGA 1992
Part 2: Other amendments
Part 3: Commencement
Close section
Schedule 8: Relevant high value disposals: gains and losses
Introduction
"Relevant high value disposal"
Threshold amount for the tax year 2015-16
Threshold amount from 6 April 2016
Restriction of losses
Calculation of gains and losses
Schedule 9: Private residence relief
Close section
Schedule 10: Plant and machinery allowances: anti-avoidance
Transfer and long funding leaseback: restrictions on lessee's allowances
Restriction on qualifying expenditure on sale, hire purchase (etc) and assignment
Transfer followed by hire-purchase etc: restrictions on hirer's allowances
Restriction on qualifying expenditure on sale, hire purchase (etc) and assignment: VAT
Close section
Schedule 11: Extension of ring fence expenditure supplement
Amendments of Chapter 5 of Part 8 of CTA 2010
Abolition of extended ring fence expenditure supplement for onshore activities
Commencement
Close section
Schedule 12: Supplementary charge: investment allowance
Part 1: Amendments of Part 8 of CTA 2010
Part 2: Commencement and transitional provision
Close section
Schedule 13: Supplementary charge: cluster area allowance
Part 1: Amendments of Part 8 of CTA 2010
Part 2: Transitional provision
Close section
Schedule 14: Investment allowance and cluster area allowance: further amendments
Part 1: Amendments of CTA 2010
Part 2: Commencement
Schedule 15: Landfill tax: material consisting of fines
Close section
Schedule 16: Recovery of unpaid diverted profits tax due from non-UK resident company
Part 1: Imposing liability on UK representative of non-UK resident company
Part 2: Recovery of diverted profits tax from related companies
Close section
Schedule 17: Disclosure of tax avoidance schemes
Requirement to update DOTAS information
Arrangements to be given reference number
Notification of employees
Employers' duty of disclosure
Identifying scheme users
Additional information
Protection of persons making voluntary disclosures
Publication of DOTAS information
Increase in penalties for failure to comply with section 313 of FA 2004
Transitional provisions
Close section
Schedule 18: Accelerated payments: group relief
Amendments of Part 4 of FA 2014
Consequential amendment
Transitional provision
Close section
Schedule 19: Promoters of tax avoidance schemes
Treating persons as meeting a threshold condition
Failure to comply with Part 7 of FA 2004
Disciplinary action in relation to professionals etc
Power to amend Schedule 34
Commencement
Close section
Schedule 20: Penalties in connection with offshore matters and offshore transfers
Penalties for errors
Close section
Schedule 21: Penalties in connection with offshore asset moves
Penalty linked to offshore asset moves
Original penalties triggering penalties under this Schedule
"Deliberate failure"
"Relevant offshore asset move"
"Relevant time"
Amount of the penalty
Assessment
Appeal
Commencement and transitionals
Close section
Finance Act 2016
Arrangement of sections
Close section
Part 1: Income tax [ss.1-44]
Charge and principal rates etc [ss.1-3]
Rate structure [ss.4-6]
Employment income: taxable benefits [ss.7-15]
Employment income: other provision [ss.16-18]
Pensions [ss.19-23]
Trading and other income [ss.24-27]
Reliefs: enterprise investment scheme, venture capital trusts etc [ss.28-31]
Reliefs: peer-to-peer lending [s.32]
Transactions in securities [ss.33-35]
Disguised fees and carried interest [ss.36-38]
Deduction at source [ss.39-41]
Receipts from intellectual property [ss.42-43]
Supplementary welfare payments: Northern Ireland [s.44]
Close section
Part 2: Corporation tax [ss.45-68]
Charge and rates [ss.45-46]
Research and development [ss.47-48]
Loan relationships [ss.49-51]
Intangible fixed assets [ss.52-53]
Creative industry reliefs [ss.54-55]
Banking companies [ss.56-57]
Oil and gas [ss.58-63]
Exploitation of patents etc [s.64]
Miscellaneous [ss.65-68]
Close section
Part 3: Income tax and corporation tax [ss.69-82]
Capital allowances [ss.69-70]
Trade and property business profits [ss.71-72]
Property business deductions [ss.73-74]
Transfer pricing [s.75]
Transactions in UK land [ss.76-82]
Close section
Part 4: Capital gains tax [ss.83-92]
Rate [s.83]
Entrepreneurs' relief [ss.84-86]
Investors' relief [s.87]
Employee shareholder shares [ss.88-89]
Other provisions [ss.90-92]
Close section
Part 5: Inheritance tax etc [ss.93-97]
93: Inheritance tax: increased nil-rate band
94: Inheritance tax: pension drawdown funds
95: Inheritance tax: victims of persecution during Second World War era
96: Inheritance tax: gifts for national purposes etc
97: Estate duty: objects of national, scientific, historic or artistic interest
Close section
Part 6: Apprenticeship levy [ss.98-121]
Basic provisions [ss.98-100]
Connected companies and charities [ss.101-102]
Anti-avoidance [ss.103-104]
Payment, collection and recovery [ss.105-110]
Information and penalties [ss.111-113]
Appeals [s.114]
General [ss.115-121]
Close section
Part 7: VAT [ss.122-126]
122: VAT: power to provide for persons to be eligible for refunds
123: VAT: representatives and security
124: VAT: joint and several liability of operators of online marketplaces
125: VAT: Isle of Man charities
126: VAT: women's sanitary products
Close section
Part 8: SDLT and ATED
Stamp duty land tax [ss.127-136]
Close section
Part 9: Other taxes and duties [ss.137-155]
Stamp duty and stamp duty reserve tax [ss.137-139]
Petroleum revenue tax [s.140]
Insurance premium tax [s.141]
Landfill tax [ss.142-143]
Climate change levy [ss.144-148]
Air passenger duty [ss.149]
Vehicle excise duty [ss.150-151]
Other excise duties [ss.152-155]
Close section
Part 10: Tax avoidance and evasion [ss.156-166]
General anti-abuse rule [ss.156-158]
Tackling frequent avoidance [ss.159-160]
"Disclosable VAT arrangements" [s.161]
Offshore activities [ss.162-166]
Close section
Part 11: Administration, enforcement and supplementary powers [ss.167-183]
Assessment and returns [ss.167-169]
Judgment debts [ss.170-172]
Enforcement powers [ss.173-177]
Payment [s.178]
Raw tobacco [s.179]
State aids granted through provision of tax advantages [ss.180-182]
Qualifying transformer vehicles [s.183]
Close section
Part 12: [ss.184-189] ...
184: ...
185: ...
186: ...
187: ...
188: ...
189: ...
Close section
Part 13: Final [ss.190-191]
190: Interpretation
191: Short title
Close section
Schedule 1: Abolition of dividend tax credits etc
Main repeals
Further amendments in ITTOIA 2005
Further amendments in CTA 2010
Other amendments
Commencement
Close section
Schedule 2: Sporting testimonial payments
Income tax: sporting testimonial payments treated as earnings
Income tax: limited exemption for sporting testimonial payments
Corporation tax: deductions from total profits for sporting testimonial payments and associated payments
Application of this Schedule
Close section
Schedule 3: Employee share schemes: minor amendments
Enterprise management incentives and employee ownership trusts
Share incentive plans
Notification of plans and schemes to HMRC
Price for acquisition of shares under share option
Tag-along rights
Exercise of EMI options
Close section
Schedule 4: Pensions: lifetime allowance: transitional provision
Part 1:: "Fixed protection 2016"
Part 2:: "Individual protection 2016"
Part 3:: Reference numbers etc
Part 4:: Information
Part 5:: Amendments in connection with protection of pre-6 April 2006 rights
Part 6:: Interpretation and regulations
Close section
Schedule 5: Pension flexibility
Serious ill-health lump sums
Charity lump sum death benefits
Dependants' flexi-access drawdown funds
Trivial commutation lump sum
Top-up of dependants' death benefits
Inheritance tax as respects cash alternatives to annuities for dependants etc
Close section
Schedule 6: Deduction of income tax at source
Part 1:: Abolition of duty to deduct tax from interest on certain investments
Part 2:: Deduction of tax from yearly interest: exception for deposit-takers
Part 3:: Amendments of or relating to Chapter 2 of Part 15 of ITA 2007
Part 4:: Deduction of tax from UK public revenue dividends
Part 5:: Commencement
Close section
Schedule 7: Loan relationships and derivative contracts
Introductory
Non-market loans
Transfer pricing
Exchange gains and losses
Commencement
Close section
Schedule 8: Tax relief for production of orchestral concerts
Part 1:: Amendment of CTA 2009
Part 2:: Consequential amendments
Part 3:: Commencement
Close section
Schedule 9: Profits from the exploitation of patents etc: consequential
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Close section
Schedule 10: Hybrid and other mismatches
Part 1:: Main provisions
Part 2:: Consequential amendments
Part 3:: Commencement
Close section
Schedule 11: Disposals of non-UK residential property interests
1
2
3
4
5
Close section
Schedule 12: Disposals of residential property interests: gains and losses
1
2
3
4
5
Close section
Schedule 13: Entrepreneurs' relief: "trading company" and "trading group"
1
2
3
4
5
6
Close section
Schedule 14: Investors' relief
1
2
3
Close section
Schedule 15: Inheritance tax: increased nil-rate band
1
2
3
4
5
6
7
8
9
10
11
12
Close section
Schedule 16: Property authorised investment funds and co-ownership authorised contractual schemes
Part 1:: Co-ownership authorised contractual schemes
Part 2:: Seeding relief for property authorised investment funds and co-ownership authorised contractual schemes
Part 3:: Consequential amendments
Part 4:: Commencement
Close section
Schedule 17: Aqua methanol etc
Part 1:: Aqua methanol
Part 2:: Hydrocarbon oils: miscellaneous amendments
Part 3:: Commencement
Close section
Schedule 18: Serial tax avoidance
Part 1:: Contents of Schedule
Part 2:: Entry into the regime and basic concepts
Part 3:: Annual information notices and naming
Part 4:: Restriction of reliefs
Part 5:: Penalty
Part 6:: Corporate groups, associated persons and partnerships
Part 7:: Supplemental
Close section
Schedule 19: Large businesses: tax strategies and sanctions
Part 1:: Interpretation
Part 2:: Publication of tax strategies
Part 3:: Sanctions for persistently unco-operative large businesses
Part 4:: Supplementary
Close section
Schedule 20: Penalties for enablers of offshore tax evasion or non-compliance
Part 1:: Liability for penalty
Part 2:: Application of Schedule 36 to FA 2008: information powers
Part 3:: Publishing details of persons found liable to penalties
Close section
Schedule 21: Penalties relating to offshore matters and offshore transfers
Amendments to Schedule 24 to the Finance Act 2007 (c. 11)
Amendments to Schedule 41 to the Finance Act 2008 (c. 9)
Amendments to Schedule 55 to the Finance Act 2009 (c.10)
Close section
Schedule 22: Asset-based penalty for offshore inaccuracies and failures
Part 1:: Liability for penalty
Part 2:: Amount of penalty
Part 3:: Identification and valuation of assets
Part 4:: Procedure
Part 5:: General
Close section
Schedule 23: Simple assessments
1
2
3
4
5
6
7
8
9
Close section
Schedule 24: Tax advantages constituting the grant of state aid
Part 1:: Tax advantages to which section 180(2)applies
Part 2:: Tax advantages to which section 180(5) applies
Close section
Schedule 25: ...
1-15 ...
Close section
Finance Act 2017
Arrangement of sections
Close section
Part 1: Direct and indirect taxes [ss.1-24]
Income tax charge and rates [ss.1-4]
Corporation tax charge [s.5]
Income tax: general [ss.6-11]
Employee shareholder shares [ss.12-14]
Disguised remuneration [s.15]
Indirect taxes [ss.16-23]
Avoidance [s.24]
Close section
Part 2: Soft drinks industry levy [ss.25-61]
Introductory [ss.25-27]
Chargeable soft drinks [ss.28-30]
Charging of the soft drinks industry levy [ss.31-36A]
Exemption etc [ss.37-39]
Registration [ss.40-49]
Offences [ss.50-51]
Administration and enforcement [ss.52-56]
Miscellaneous [ss.57-58A]
General [ss.59-61]
Close section
Part 3: Final [ss.62-63]
62: Interpretation
63: Short title
Close section
SCHEDULE 1: Workers' services provided to public sector through intermediaries
Part 1: Preliminary amendments
Part 2: New Chapter 10 of Part 2 of ITEPA 2003
Part 3: Consequential amendments
Part 4: Commencement
Close section
SCHEDULE 2: Optional remuneration arrangements
Optional remuneration arrangements
Benefits in kind: amount treated as earnings
Exemptions
Other amendments
Commencement and transitional provision
Close section
SCHEDULE 3: Overseas pensions
Part 1: Registered pension schemes established outside the UK
Part 2: Income tax on pension income
Part 3: Lump sums for UK residents from foreign pension schemes
Close section
SCHEDULE 4: Pensions: offshore transfers
Part 1: Charges where payments made in respect of overseas pensions
Part 2: Income tax on pension transfers: overseas transfer charge
Close section
SCHEDULE 5: Deduction of income tax at source
Part 1: Interest distributions of investment trust or authorised investment fund
Part 2: Interest on peer-to-peer lending
Part 3: Further amendment and commencement
Close section
SCHEDULE 6: Employment income provided through third parties
Introductory
Meaning of "relevant step"
Loans: transferring, releasing or writing off
Exclusions: relevant repayments
Exclusions: payments in respect of a tax liability
Double taxation
Amendments to Schedule 2 to FA 2011
Commencement
Close section
SCHEDULE 7: VAT: zero-rating of adapted motor vehicles etc
Adaptation of a qualifying motor vehicle
Three year rule, reporting and certification
Penalty
Minor amendments
Commencement
Close section
SCHEDULE 8: Soft drinks industry levy: recovery and overpayments
Part 1: Recovery
Part 2: Overpayments
Part 3: Further provision about notices etc.
Close section
SCHEDULE 9: Soft drinks industry levy: requirements to keep records etc: penalties
Part 1: Penalties
Part 2: Assessments
Close section
SCHEDULE 10: Soft drinks industry levy: appeals and reviews
Part 1: Appealable decisions
Part 2: Reviews
Part 3: Appeals
Close section
SCHEDULE 11: Soft drinks industry levy: supplementary amendments
HMRC powers to obtain information etc.
Penalties: failure to notify etc.
Penalties: failure to comply with requirements relating to returns
Interest
Close section
Finance (No. 2) Act 2017
Arrangement of sections
Close section
Part 1: Direct taxes [ss.1-42]
Income tax: employment and pensions [ss.1-7]
Income tax: investments [ss.8-15]
Income tax: trading and property businesses [ss.16-17]
Corporation tax [ss.18-25]
Chargeable gains [ss.26-28]
Domicile, overseas property etc [ss.29-33]
Disguised remuneration [ss.34-37]
Capital allowances [s.38]
Transactions in UK land [s.39]
Co-ownership authorised contractual schemes [ss.40-42]
Close section
Part 2: Indirect taxes [ss.43-47]
43: Air passenger duty: rates of duty from 1 April 2018
44: Petroleum revenue tax: elections for oil fields to become non-taxable
45: Gaming duty: rates
46: Remote gaming duty: freeplay
47: Tobacco products manufacturing machinery: licensing scheme
Close section
Part 3: Fulfilment businesses [ss.48-59]
48: Carrying on an imported goods fulfilment business
49: Requirement for approval
50: Register of approved persons
51: Regulations relating to approval, registration etc.
52: Disclosure of information by HMRC
53: Offence
54: Forfeiture
55: Penalties
56: Appeals
57: Regulations
58: Interpretation
59: Commencement
Close section
Part 4: Administration, avoidance and enforcement
Reporting and record-keeping [ss.60-62]
Enquiries [s.63]
Avoidance etc [ss.64-68]
Information [ss.69]
Close section
Part 5: Final [ss.70-72]
70: Northern Ireland welfare payments: updating statutory reference
71: Interpretation
72: Short title
Close section
Schedule 1: Social investment tax relief
Part 1: Amendments of Part 5B of ITA 2007
Part 2: Consequential amendments
Part 3: Commencement
Close section
Schedule 2: Trades and property businesses: calculation of profits
Part 1: Trades etc: amendments of ITTOIA 2005
Part 2: Property businesses: amendments of ITTOIA 2005
Part 3: Trades etc: amendments of other Acts
Part 4: Commencement and transitional provision
Close section
Schedule 3: Trading and property allowances
Part 1: Main provisions
Part 2: Consequential amendments
Part 3: Commencement
Close section
Schedule 4: Relief for carried-forward losses
Part 1: Amendment of general rules about carrying forward losses
Part 2: Restriction on deductions in respect of carried-forward losses
Part 3: Group relief for carried-forward losses
Part 4: Insurance companies: carrying forward BLAGAB trade losses
Part 5: Carrying forward trade losses in certain creative industries
Part 6: Oil activities
Part 7: Oil contractors
Part 8: Transferred trades
Part 9: Tax avoidance
Part 10: Northern Ireland trading losses etc
Part 11: Minor and consequential amendments
Part 12: Commencement etc
Close section
Schedule 5: Corporate interest restriction
Part 1: New Part 10 of TIOPA 2010
Part 2: New Schedule 7A to TIOPA 2010
Part 3: Consequential amendments
Part 4: Commencement and transitional provision
Close section
Schedule 6: Relief for production of museum and gallery exhibitions
Part 1: Amendment of CTA 2009
Part 2: Consequential amendments
Part 3: Commencement
Close section
Schedule 7: Trading profits taxable at the Northern Ireland rate
Part 1: Amendments relating to SMEs
Part 2: Minor amendments
Part 3: Commencement etc
Close section
Schedule 8: Deemed domicile: income tax and capital gains tax
Part 1: Application of deemed domicile rule
Part 2: Protection of overseas trusts
Part 3: Capital gains tax rebasing
Part 4: Cleansing of mixed funds
Close section
Schedule 9: Settlements and transfer of assets abroad: value of benefits
Capital gains tax: settlements: value of benefit conferred by certain capital payments
Income tax: transfer of assets abroad: value of certain benefits
Commencement
Close section
Schedule 10: Inheritance tax on overseas property representing UK residential property
Non-excluded overseas property
Consequential and supplementary amendments
Commencement
Transitional provision
Close section
Schedule 11: Employment income provided through third parties: loans etc outstanding on 5 April 2019
Part 1: Application of Part 7A of ITEPA 2003
Part 2: Accelerated payments
Part 3: Exclusions
Part 3A: Duty to provide loan charge information to HMRC
Part 4: Supplementary provision
Part 5: Consequential amendments
Close section
Schedule 12: Trading income provided through third parties: loans etc outstanding on 5 April 2019
Application of sections 23A to 23H of ITTOIA 2005 in relation to loans etc. outstanding on 5 April 2019
Meaning of "loan" and "quasi loan"
Meaning of "outstanding": loans
Meaning of "outstanding": loans in currencies other than sterling
Repayments in currencies other than the loan currency
Loans made in a depreciating currency
Meaning of outstanding: "quasi-loans"
Meaning of "outstanding": quasi-loans in currencies other than sterling
Repayments in currencies other than the quasi-loan currency
Quasi-loans made in a depreciating currency
...
...
...
...
Accelerated payments
Duty to provide loan charge information to HMRC
"Loan charge information"
Duty to provide loan charge information: penalties
Penalties under paragraph 25: reasonable excuse
Penalties under paragraphs 25 and 26: assessment, appeals and enforcement
Close section
Schedule 13: Imported goods fulfilment businesses: penalty
Liability to penalty
Amount of penalty
Reductions for disclosure
Special reduction
Assessment
Reasonable excuse
Companies: officer's liability
Double jeopardy
The maximum amount
Appeal tribunal
Close section
Schedule 14: Digital reporting and record-keeping for income tax etc: further amendments
Part 1: Amendments of TMA 1970
Part 2: Amendments of other Acts
Close section
Schedule 15: Partial closure notices
TMA 1970
TCGA 1992
FA 1998
Tax Credits Act 2002
FA 2008
TIOPA 2010
Commencement
Close section
Schedule 16: Penalties for enablers of defeated tax avoidance
Part 1: Liability to penalty
Part 2: "Abusive" and "tax arrangements": meaning
Part 3: "Defeat" in respect of abusive tax arrangements
Part 4: Persons who "enabled" the arrangements
Part 5: Amount of penalty
Part 6: Assessment of penalty
Part 7: GAAR Advisory Panel opinion, and representations
Part 8: Appeals
Part 9: Information
Part 10: Publishing details of persons who have incurred penalties
Part 11: Miscellaneous
Part 12: General
Close section
Schedule 17: Disclosure of tax avoidance schemes: VAT and other indirect taxes
Part A1: Introduction
Part 1: Duties to disclose avoidance schemes etc
Part 2: Penalties
Part 3: Consequential amendments
Part 4: Supplemental
Close section
Schedule 18: Requirement to correct certain offshore tax non-compliance
Part 1: Liability for penalty for failure to correct
Part 2: Amount of penalty
Part 3: Further provisions relating to the requirement to correct
Part 4: Supplementary
Close section
Finance Act 2018
Arrangement of sections
Close section
Part 1: Direct taxes
Income tax and corporation tax: charge [ss.1-2]
Income tax: rates and allowances [ss.3-6]
Employment [ss.7-10]
Disguised remuneration [ss.11-12]
Pensions [s.13]
Investments [ss.14-17]
Partnerships [s.18]
Corporation tax [ss.19-25]
Chargeable gains [ss.26-28]
... [s.29]
Double taxation relief [ss.30-32]
Miscellaneous [ss.33-37]
Close section
Part 2: Indirect taxes [ss.38-45]
Value added tax [ss.38-39]
Stamp duty land tax [ss.40-41]
Landfill tax [s.42]
Excise duties [ss.43-45]
Close section
Part 3: Miscellaneous and final [ss.46-50]
Customs enforcement powers [ss.46-47]
Updating of statutory references [s.48]
Final [ss.49-50]
Close section
Schedule 1: Employment income provided through third parties
Part 1: Arrangements relating to earnings charged to tax
Part 2: Close companies
Part 3: Amendments consequential on Part 2
Part 4: Loans etc outstanding on 5 April 2019
Part 5: Commencement
Schedule 2: Trading income provided through third parties: loans etc outstanding on 5 April 2019
Close section
Schedule 3: Pension schemes
Amendments of and relating to Part 4 of the Finance Act 2004
Commencement
Meaning of "Master Trust scheme": transitional provision
Master Trust schemes registered before the passing of this Act
Close section
Schedule 4: EIS and VCT reliefs: knowledge-intensive companies
Amount of EIS relief
Maximum amount raised annually by knowledge-intensive company
Initial investing period: permitted age of knowledge-intensive company
Commencement
Close section
Schedule 5: Venture capital trusts: further amendments
Relaxation of restriction where there is a linked sale
The 70% qualifying holdings condition
The minimum investment on further issue condition
Non-qualifying loans
Qualifying holdings: exclusions
Commencement
Close section
Schedule 6: Partnerships
Part 1: Bare trusts
Part 2: Notional trade and business of indirect partner
Part 3: Returns: information to be included
Part 4: Returns: overseas partners in investment partnerships etc
Part 5: Returns conclusive as to shares of profits and losses
Close section
Schedule 7: Hybrid and other mismatches
Introductory
Meaning of "tax" etc and treatment of cases where tax charged at a nil rate
CFCs and foreign CFCs: qualifying CFC amounts
Hybrid and other mismatches from financial instruments: qualifying capital amounts
Hybrid transfer deduction/non-inclusion mismatches: qualifying capital amounts
Hybrid payee deduction/non-inclusion mismatches
Multinational payee deduction/non-inclusion mismatches
Hybrid entity double deduction mismatches: use of restricted deduction
Imported mismatches: dual inclusion income
Adjustments in light of subsequent events: accounting treatment
Commencement
Close section
Schedule 8: Corporate interest restriction
Part 1: Amendments of Part 10 of TIOPA 2010
Part 2: Other amendments
Close section
Schedule 9: Bank levy
Part 1: Chargeable equity and liabilities
Part 2: Miscellaneous amendments
Part 3: Commencement
Close section
Schedule 10: Settlements: anti-avoidance etc
Part 1: Capital gains tax
Part 2: Income tax
Close section
Schedule 11: Stamp duty land tax: higher rates for additional dwellings
Previous residence required to be disposed of entirely
Exception where purchaser has prior interest in purchased dwelling
Exception where spouses and civil partners purchasing from one another
Property adjustment on divorce, dissolution of civil partnership etc
Purchase etc by person appointed under Mental Capacity Act 2005 to make decisions for a child
Minor and consequential amendments
Commencement
Close section
Schedule 12: Landfill tax: disposals not made at landfill sites, etc
Part 1: Amendments of Part 3 of FA 1996
Part 2: Amendments of other Acts
Part 3: Commencement and transitional provisions
Close section
Finance Act 2019
Arrangement of sections
Close section
Part 1: Direct taxes [ss.1-41]
Charge to tax [ss.1-2]
Income tax rates, allowances and limits [ss.3-6]
Employment and social security income [ss.7-12]
Chargeable gains: interests in UK land etc [ss.13-14]
International matters [ss.15-24]
Corporation tax: miscellaneous [ss.25-29]
Capital allowances [ss.30-35]
Leases [s.36]
Oil activities and petroleum revenue tax [ss.37-38]
Miscellaneous reliefs [ss.39-41]
Close section
Part 2: Other taxes [ss.42-68]
Stamp duty land tax [ss.42-46]
Stamp duty and SDRT [ss.47-50]
Value added tax [ss.51-53]
Alcohol [ss.54-55]
Tobacco [ss.56-57]
Vehicle duties [ss.58-60]
Air passenger duty [ss.61]
Gaming [ss.62-63]
Environmental taxes [ss.64-65]
Inheritance tax [s.66]
Soft drinks industry levy [ss.67-68]
Close section
Part 3: ... [ss.69-79]
... [s.69]
... [ss.70-74]
... [ss.75-76]
... [ss.77-79]
Close section
Part 4: Administration and enforcement [ss.80-88]
Time limits for assessments etc [ss.80-81]
Security deposits [s.82]
International agreements [ss.83-84]
Payment of unlawful advance corporation tax [ss.85-86]
Voluntary returns [s.87]
Interest [s.88]
Close section
Part 5: Miscellaneous and final [ss.89-97]
Regulatory capital securities [s.89]
EU withdrawal [s.90]
Preparatory expenditure [s.91]
Reviews [ss.92-95]
Other [ss.96-97]
Close section
Schedule 1: Chargeable gains accruing to non-residents etc
Part 1: Extending cases in which non-residents are charged to tax etc
Part 2: Consequential amendments
Part 3: Commencement and transitional provisions etc
Close section
Schedule 2: Returns for disposals of UK land etc
Part 1: Returns and payments on account: disposals of UK land etc
Part 2: Notification of chargeable amounts, amendments of returns, enquiries etc
Part 3: Consequential amendments
Schedule 3: Offshore receipts in respect of intangible property
Close section
Schedule 4: Avoidance involving profit fragmentation arrangements
Introduction and overview
Profit fragmentation arrangements
Transfer of value deriving directly or indirectly from a business
The enjoyment conditions
Tax mismatch
Tax mismatch: resulting reduction and resulting increase
Adjustments required to be made in relation to arrangements
Double taxation
Reimbursement payments ignored for tax purposes
Treatment of a person who is a member of a partnership
Other defined terms
Commencement
Close section
Schedule 5: Non-UK resident companies carrying on UK property businesses etc
Part 1: Extension of scope of charge
Part 2: Supplementary & Consequential amendments
Part 3: Commencement and transitional provisions
Close section
Schedule 6: Diverted profits tax
Introduction
Calculation of taxable diverted profits
Extension of period for issuing a preliminary notice
Relief from corporation tax
Extension of the review period
Extension of period for amendment of company tax return
Close section
Schedule 7: Payment of CGT exit charges
CGT exit charge payment plans
Penalties
CT exit charge payment plans
Commencement
Close section
Schedule 8: Corporation tax exit charges
Part 1: CT exit charge payment plans
Part 2: Repeal of certain postponement provisions
Part 3: Treatment of assets subject to EU exit charges
Schedule 9: Intangible fixed assets: restrictions on goodwill and certain other assets
Close section
Schedule 10: Corporation tax relief for carried-forward losses
Restrictions on deductions from profits
Terminal losses: straddling periods
Group relief for carried-forward losses
Transferred trades
Deduction buying
Commencement
Close section
Schedule 11: Corporate interest restriction
Introductory
Tax-interest amounts: amounts capitalised in intangible fixed assets
Carry forward of interest allowance: new holding company
Carry forward of excess debt cap: new holding company
Adjusted net group-interest expense: capitalised interest
Adjusted net group-interest expense: impairment debts and credits and connected companies
Interest allowance (alternative calculation) election: unpaid employees' remuneration
Interest allowance (alternative calculation) election: changes in accounting policy
Interest allowance (non-consolidated investment) election
Public infrastructure
Real Estate Investment Trusts
Interest restriction returns
Consequential amendments
Commencement
Transitional provision in case of interest allowance (alternative calculation) elections
Close section
Schedule 12: Eliminating tax mismatch for certain debt
Loan relationships with qualifying link
Commencement and transitional provisions
Power to amend section 352B of CTA 2009
Close section
Schedule 13: Annual investment allowance: periods straddling 1 January 2019 or 1 April 2023
Chargeable periods which straddle 1 January 2019
Chargeable periods which straddle 1 April 2023
Operation of annual investment allowance where restrictions apply
Close section
Schedule 14: Leases: changes to accounting standards etc
Part 1: Finance leases: amendments as a result of changes to accounting standards
Part 2: Long funding leases
Part 3: Changes to accounting standards and tax adjustments
Close section
Schedule 15: Oil activities: transferable tax history
Part 1: Election to transfer tax history
Part 2: The total TTH amount
Part 3: Effect of a TTH election on the seller
Part 4: Effect of a TTH election on the purchaser
Part 5: TTH activation
Part 6: Allocation of activated TTH amount
Part 7: Supplementary charge: recalculation of adjusted ring fence profits
Part 8: TTH elections: conditions and procedure
Part 9: TTH elections: approval
Part 10: TTH elections: effective date and withdrawal
Part 11: TTH elections: inaccuracies
Part 12: Chargeable gains
Part 13: Onward sale
Part 14: Supplementary
Part 15: Interpretation
Close section
Schedule 16: Entrepreneurs' relief
Periods throughout which conditions for relief must be met
Additional requirements relating to the beneficial ownership of companies
Relief where company ceases to be individual's personal company
Commencement
Schedule 17: VAT treatment of vouchers
Close section
Schedule 18: VAT groups: eligibility
Part 1: Eligibility of individuals and partnerships
Part 2: Consequential amendments
Close section
Schedule 19: Gaming duty
Accounting periods
Carrying forward of losses
Removal of obligation to make payments on account
Commencement
Close section
Schedule 20: Taxation of hybrid capital instruments
Part 1: Revocation of special rules for regulatory capital securities
Part 2: Corporation tax, income tax and capital gains tax
Part 3: Stamp duty and stamp duty reserve tax
Close section
Finance Act 2020
Arrangement of sections
Close section
Part 1: Income tax, corporation tax and capital gains tax [ss.1-38]
Income tax charge, rates etc [ss.1-4]
Corporation tax charge and rates [ss.5-6]
Employment income and social security income [ss.7-14]
Loan charge [ss.15-21]
Pensions [s.22]
Chargeable gains [ss.23-27]
Reliefs for business [ss.28-31]
Miscellaneous measures affecting companies [ss.32-35]
Investments [ss.36-38]
Close section
Part 2: Digital services tax [ss.39-72]
Introduction [s.39]
Digital services revenues, UK digital services revenues etc [ss.40-45]
Charge to tax [ss.46-51]
Duty to submit returns etc [ss.52-56]
Groups, parents and members [ss.57-60]
Accounting periods, accounts etc [ss.61-64]
Supplementary [ss.65-71]
General [s.72]
Close section
Part 3: Other taxes [ss.73-97]
Inheritance tax [ss.73-75]
Stamp duty land tax [s.76]
Stamp duty and stamp duty reserve tax [ss.77-79]
Value added tax [s.80]
Alcohol liquor duties [s.81]
Tobacco products duty [s.82]
Vehicle taxes [ss.83-88A]
Hydrocarbon oil duties [s.89]
Air passenger duty [s.90]
Gaming duty [s.91]
Environmental taxes [ss.92-96]
Import duty [s.97]
Close section
Part 4: Miscellaneous and final [ss.98-114]
Insolvency [ss.98-99]
Joint and several liability [s.100]
General anti-abuse rule [s.101]
Compensation schemes etc [s.102]
Administration [ss.103-105]
Coronavirus [ss.106-110]
Preparing for new tax [s.111]
Local loans [s.112]
Other [ss.113-114]
Close section
Schedule 1: Workers' services provided through intermediaries
PART 1: Amendments to Chapter 8 of Part 2 of ITEPA 2003
PART 2: Amendments to Chapter 10 of Part 2 of ITEPA 2003
PART 3: Consequential and miscellaneous amendments
PART 4: Commencement and transitional provisions
Close section
Schedule 2: The loan charge: consequential amendments
PART 1: Amendments to F(No.2)A 2017 in consequence of section 15
PART 2: Amendments in consequence of section 16
Close section
Schedule 3: Entrepreneurs' relief
PART 1: Reduction in lifetime limit
PART 2: Re-naming the relief
Close section
Schedule 4: Corporate capital losses
PART 1: Corporate capital loss restriction
PART 2: Corporate capital loss deductions: miscellaneous provision
PART 3: Commencement and anti-forestalling provision
Close section
Schedule 5: Structures and buildings allowances
Introduction
Research and development allowances
Contribution allowances
Minor amendments
Commencement
Close section
Schedule 6: Non-UK resident companies carrying on UK property businesses etc
Calculation of non-trading profits and deficits from loan relationships or derivative contracts
Debits referable to times before UK property business etc is carried on
Duty to notify chargeability to corporation tax: exceptions
Period for making election under regulation 6A of the Disregard Regulations
Commencement
Close section
Schedule 7: CT payment plans for tax on certain transactions with EEA residents
CT payment plans
Penalties
Commencement
Power of repeal
Close section
Schedule 8: Digital services tax: returns, enquiries, assessments and appeals
PART 1: Introduction
PART 2: DST returns
PART 3 : Duty to keep and preserve records
PART 4: Enquiry into return
PART 5: HMRC determinations
PART 6: HMRC assessments
PART 7: Relief in case of overpaid tax
PART 8: Appeals against HMRC decisions on tax
PART 9: Penalties
Close section
Schedule 9: DST payment notices
Introduction
Payment notice: effect
Payment notice: appeals
Payment notices: effect of making payment etc
Close section
Schedule 10: Digital services tax: minor and consequential amendments
Provisional Collection of Taxes Act 1968
FA 1989
FA 2007
FA 2008
Schedule 11: Private pleasure craft
Schedule 12: ...
Close section
Schedule 13: Joint and several liability of company directors etc
Introduction
Tax avoidance and tax evasion cases
Repeated insolvency and non-payment cases
Cases involving penalty for facilitating avoidance or evasion
"Tax-avoidance arrangements"
"Tax-evasive conduct"
"Insolvency procedure" etc
Interaction with penalties
Withdrawal or modification of notice
Right of review
Reviews under paragraph 11
Right of appeal
Appeals under paragraph 13
Appeal in respect of liability of company
Proceedings for determination of penalty to be imposed on company
Cases where company has ceased to exist
Application to limited liability partnerships
Interpretation
Close section
Schedule 14: Amendments relating to the operation of the GAAR
Introduction
Protecting adjustments under the GAAR before time limits expire
Minor amendments
Commencement
Close section
Schedule 15: Tax relief for scheme payments etc
Introductory
Qualifying payments
Exemption from income tax
Exemptions from capital gains tax
Relief from inheritance tax
Close section
Schedule 16: Taxation of coronavirus support payments
Accounting for coronavirus support payments referable to a business
Amounts not referable to activities of a business which is being carried on
Amounts referable to businesses in certain cases
Exemptions, reliefs and deductions
Charge where employment costs deductible by another
Charge where no business carried on
Modification of the Tax Acts
Charge if person not entitled to coronavirus support payment
Assessments of income tax chargeable under paragraph 8
Calculation of income tax liability
Calculation of tax liability: companies chargeable to corporation tax
Notification of liability under paragraph 8
Penalty for failure to notify: knowledge of non-entitlement to payment
Penalties: partnerships
Liability of officers of insolvent companies
Close section
Finance Act 2021
Close section
Part 1: Income tax, corporation tax and capital gains tax tax [ss.1-41]
Income tax charge, rates etc [ss.1-5]
Corporation tax charge and rates [ss.6-7]
Rate of diverted profits tax [s.8]
Capital allowances: super-deductions etc [ss.9-14]
Capital allowances: other measures [ss.15-17]
Reliefs for business [ss.18-20]
Employment income [ss.21-27]
Pensions [ss.28-29]
Construction industry scheme [s.30]
Coronavirus support payments etc [ss.31-33]
Exemptions from income tax [ss.34-35]
Miscellaneous corporation tax measures [ss.36-39]
Capital gains tax [ss.40-41]
Close section
Part 2: Plastic packaging tax [ss.42-85]
Introductory [s.42]
Charging of plastic packaging tax [ss.43-46]
Interpretation of main terms etc [ss.47-50]
Deferrals, exemptions and credits [ss.51-53]
Registration [ss.54-58]
Secondary liability and joint and several liability notices [s.59]
Administration and enforcement [ss.60-67]
Miscellaneous [ss.68-76]
Offences and penalties [ss.77-81]
General [ss.82-85]
Close section
Part 3: Other taxes [ss.86-112]
Inheritance tax [s.86]
Stamp duty land tax [ss.87-89]
Annual tax on enveloped dwellings [ss.90-91]
Value added tax [ss.92-100]
Customs duty [s.101]
Fuel duties [s.102]
Tobacco products duty [s.103]
Vehicle taxes [ss.104-106]
Air passenger duty [s.107]
Gaming duty [s.108]
Environmental taxes [ss.109-112]
Close section
Part 4: Miscellaneous and final [ss.113-136]
Freeports and investment zones [ss.113-115]
Penalties [ss.116-119]
Interest [s.120]
Avoidance [ss.121-124]
Conditionality [s.125]
HMRC powers [ss.126-131]
Banking [ss.132-134]
Other [ss.135-136]
Close section
Schedule 1: Small profits rate for non-ring fence profits
PART 1: Small profits rate
PART 2: Amendments of Chapter 3A of Part 8 of CTA 2010
PART 3: Consequential amendments
PART 4: Commencement etc
Close section
Schedule 2: Temporary extension of periods to which trade losses may be carried back
PART 1: Income tax
PART 2: Corporation tax
Close section
Schedule 3: R&D tax credits for SMEs
Introductory
Cap on amount of tax credit
Commencement
Close section
Schedule 4: R&D tax credits for SMEs: Northern Ireland companies
Cap on amount of tax credit
Commencement
Close section
Schedule 5: Pension schemes: collective money purchase benefits
PART 1: Amendments of Part 4 of FA 2004
PART 2: Commencement
Close section
Schedule 6: Construction industry scheme: amendments
Introductory
Contractors
Deductions for materials
Grace period
Restrictions on set-off
Penalties
Commencement
Close section
Schedule 7: Hybrid and other mismatches
PART 1: Meaning of "tax"
PART 2: Chapter 3 mismatches: relevant debt relief circumstances
PART 3: Chapter 3 mismatches: Investment trusts
PART 4: Deemed dual inclusion income
PART 5: Deemed dual inclusion income: anti-avoidance
PART 6: Allocation of dual inclusion income within group
PART 7: Financing cost of loan capital
PART 8: Chapters 9 and 10: carry forward of illegitimate overseas deduction
PART 9: Imported mismatches
PART 10: Meaning of "act together"
PART 11: Exempt investors in hybrid entities
PART 12: Interaction with Part 4 of TIOPA 2010
PART 13: Securitisation companies
PART 14: Transparent funds
PART 15: Commencement
Close section
Schedule 8: Relief from corporation tax for losses and other amounts
PART 1: Allocation of deductions allowance of former groups
PART 2: Other amendments of CTA 2010
PART 3: Commencement and transitional provision
Close section
Schedule 9: Plastic packaging tax: secondary liability and assessment notices and joint and several liability notices
PART 1: Secondary liability and assessment notices
PART 2: Joint and several liability notices
PART 3: Application of Schedule 10
PART 4: Interpretation
Close section
Schedule 10: Plastic packaging tax: recovery and overpayments
PART 1: Recovery
PART 2: Repayments
Close section
Schedule 11: Plastic packaging tax: reviews and appeals
PART 1: Appealable decisions etc
PART 2: Reviews
PART 3: Appeals
Close section
Schedule 12: Plastic packaging tax: information and evidence
PART 1: Information
PART 2: Evidence
Close section
Schedule 13: Plastic packaging tax: groups of companies
Bodies eligible for group treatment
Application for group treatment
Applications to modify group treatment
Applications relating to group treatment
Termination of group treatment by the Commissioners
Notifications relating to group treatment
Regulations about applications and notifications
Close section
Schedule 14: Plastic packaging tax: assessment of penalties under section 80
Interpretation
Assessment etc of penalty
Further provision about assessments under paragraphs 2 and 3
Assessment etc of daily penalties
Time limits for assessments
Close section
Schedule 15: Plastic packaging tax: amendments of other legislation
PART 1: Penalties
PART 2: Miscellaneous
Close section
Schedule 16: SDLT: increased rates for non-resident transactions
Amendments of FA 2003
Commencement
Schedule 17: SDLT (relief from higher rate charge for certain housing co-operatives etc): minor and consequential amendments
Close section
Schedule 18: VAT and distance selling: Northern Ireland
PART 1: Amendments to Schedules 9ZA and 9ZB to VATA 1994
PART 2: Amendments relating to the One Stop Shop and Import One Stop Shop Schemes
PART 3: Omission of Part 2 of Schedule 9ZC to VATA 1994
PART 4: Amendments relating to supplies of goods by persons established outside the United Kingdom that are facilitated by online marketplaces
Close section
Schedule 19: Deferring VAT payment by reason of the coronavirus emergency
Definitions
Power to agree to further defer payment
No surcharge
Penalty
Amount of penalty
Assessment of penalty
Payment of penalty
Recovery of penalty
Reviews and appeals
Double jeopardy
Notifications etc
Close section
Schedule 20: Customs duty: steel products
Duty on certain steel products imported on or after 3 March 2021
Duty on certain steel products imported before 3 March 2021
Duty on certain steel products removed to Northern Ireland on or after 3 March 2021
Duty on certain steel products removed to Northern Ireland after IP completion day
Interpretation
Power to extend application of the regulations to other goods
Schedule 21: Restriction of use of rebated diesel and biofuels
Close section
Schedule 22: Capital allowances for freeport tax sites
PART 1: First-year allowance for plant and machinery
PART 2: Structures and buildings allowances
PART 3: Related amendments
Schedule 23: Relief from stamp duty land tax for freeport tax sites
Close section
Schedule 24: Penalties for failure to make returns etc
PART 1: Introduction
PART 2: Liability to a penalty
PART 3: Supplementary provision
Close section
Schedule 25: Penalties for deliberately withholding information
PART 1: Introduction
PART 2: Liability to a penalty
PART 3: Supplementary provision
Close section
Schedule 26: Penalties for failure to pay tax
PART 1: Introduction
PART 2: Liability to a penalty
PART 3: Supplementary provision
Close section
Schedule 27: Schedules 24 to 26: consequential provision
Taxes Management Act 1970
Income and Corporation Taxes Act 1988
Social Security Contributions and Benefits Act 1992
Social Security Contributions and Benefits (Northern Ireland) Act 1992
Value Added Tax Act 1994
Income Tax (Trading and Other Income) Act 2005
Corporation Tax Act 2009
Finance Act 2009
Finance Act 2012
Finance Act 2013
Finance Act 2014
Finance Act 2015
Finance Act 2016
Finance Act 2017
Finance (No. 2) Act 2017
Close section
Schedule 28: Follower notice penalties
PART 1: Amendment of Chapter 2 of Part 4 of FA 2014
PART 2: Amendments consequential on Part 1
PART 3: Amendment of Schedule 20 to FA 2015
PART 4: Commencement
Schedule 29: Late payment interest and repayment interest: VAT
Close section
Schedule 30: Amendments of Part 5 of FA 2014
PART 1: Stop notices and information & inspection powers
PART 2: Promotion structures
PART 3: Conduct and monitoring notices: transferees
PART 4: Miscellaneous amendments
Close section
Schedule 31: Small profits rate for non-ring fence profits
PART 1: Amendments of Part 7 of FA 2004
PART 2: Amendments of Schedule 17 to F(No.2)A 2017
PART 3: Other amendments
PART 4: Commencement
Close section
Schedule 32: The GAAR and partnerships
PART 1: New Schedule to FA 2013
PART 2: Minor and consequential amendments to Part 5 of FA 2013
Close section
Schedule 33: Licensing authorities: requirements to give or obtain tax information
Meaning of "authorisation", "authorised activity" and "licensing authority" etc
First-time application: licensing authority required to give information about tax compliance
Renewed application: licensing authority required to obtain confirmation of tax check
HMRC required to make arrangements in connection with tax checks
Tax checks
Requirement to confirm completion of tax check ceases to apply if HMRC in default
Disclosure of information
Regulations
Interpretation
Partnerships
Consequential amendments
Close section
Schedule 34: Information powers: miscellaneous amendments
Disclosure of third party or financial institution notice
Increased daily default penalty
Power to give taxpayer notice following land transaction return
Commencement
Close section
Finance Act 2022
Close section
PART 1: Income tax, corporation tax and capital gains tax
Income tax charge, rates etc
Banking surcharge
Trading and property income
Pensions
Capital allowances
Reliefs for investments
Creative reliefs
Capital gains tax: disposals of UK land etc
International matters
Changes in accounting standards etc
Expanded dormant assets
Close section
PART 2: Residential property developer tax
Introduction
Charge to tax
Key concepts
Profits and losses
Allowance
Application of corporation tax provisions, management etc
Miscellaneous
Commencement and transitional provisions
Close section
PART 3: Economic crime (anti-money laundering) levy
53: Economic crime (anti-money laundering) levy
54: Charge to the levy
55: UK revenue: amount
56: Relevant accounting period
57: UK revenue: determination
58: Assessment, payment, collection and recovery
59: Payments into Consolidated Fund
60: Application to partnerships
61: Collection of information
62: Disclosure of information
63: Power to make consequential provision
64: Regulations
65: Interpretation
66: Commencement
Close section
PART 4: Public interest business protection tax
67: Public interest business protection tax
Close section
PART 5: Other taxes
Stamp duty and stamp duty reserve tax
Value added tax
Insurance premium tax
Import duty
Fuel duties
Tobacco products duty
Vehicle taxes
Gaming duty
Penalties relating to excise duty
Environmental taxes
Close section
PART 6: Miscellaneous and final
Avoidance
Free zones and freeports
Uncertain tax treatment
Discovery assesments etc
Temporary powers in disaster or emergency
Emissions certificates for vehicles
...
Final
SCHEDULES:
Close section
SCHEDULE 1: Abolition of basis periods
PART 1: Main amendments of ITTOIA 2005
PART 2: Other amendments of ITTOIA 2005
PART 3: Amendments of other Acts
PART 4: Commencement
PART 5: Transitional provision: new trades etc
PART 6: Transitional provision: continuing trades etc
PART 7: Transitional provision: notional businesses
Close section
SCHEDULE 2: Qualifying asset holding companies
PART 1: Introduction and conditions for being a QAHC
PART 2: Becoming a QAHC
PART 3: Ceasing to be a QAHC
PART 4: Groups
PART 5: Close companies, exchange gains and basis of accounting
PART 6: Transfer pricing and corporate interest restriction rules
PART 7: Treatment of certain amounts payable by a QAHC
PART 8: Overseas property income
PART 9: Disposals of overseas land and certain shares
PART 10: Stamp duty and stamp duty reserve tax
PART 11: Exemption from section 874 of ITA 2007 (withholding tax)
PART 12: Supplementary
Close section
SCHEDULE 3: Real Estate Investment Trusts
Conditions for companies in relation to UK REITs
Requirements for financial statements
Balance of business test
Holders of excessive rights
Application and commencement
Close section
SCHEDULE 4: Cross-border group relief
PART 1: Consequential amendments
PART 2: Commencement
Close section
SCHEDULE 5: Insurance contracts: change in accounting standards
PART 1: Power to make provision in connection with IFRS 17
PART 2: Amendments in connection with IFRS 17
Close section
SCHEDULE 6: Dormant assets
Amendment to TCGA 1992
Amendment to FA 2008
Amendments to the Income Tax (Deposit-takers and Building Societies) (Interest Payments) Regulations 2008 (S.I. 2008/2682)
Exemption for reclaim amounts in respect of individual investment plans
Power to make provision for the purposes of the Income Tax Acts and TCGA 1992 in relation to dormant assets
Commencement
Close section
SCHEDULE 7: RPDT reliefs
PART 1: RPDT loss relief
PART 2: RPDT group relief
PART 3: RPDT group relief for carried-forward losses
PART 4: Supplementary provision
Close section
SCHEDULE 8: Management of RPDT
Amendments of TMA 1970
Amendments of FA 1998
Close section
SCHEDULE 9: Miscellaneous provision
Residential property developer tax to be ignored for corporation tax purposes
Payments made for RPDT reliefs to be ignored for corporation tax purposes
Provision made or imposed between RPD activities and other activities of the same company
Provision made or imposed between an RP developer and another person under the same control
Close section
SCHEDULE 10: Public interest business protection tax
PART 1: Charge
PART 2: Joint and several liability
PART 3: Administration
PART 4: Supplementary
Close section
SCHEDULE 11: Restriction of use of rebated diesel and biofuels
PART 1: Amendments to HODA 1979
PART 2: Amendments to FA 2021
Close section
SCHEDULE 12: Plastic packaging tax
No charge for persons below de minimis
Time of importation
Reliefs for persons enjoying certain immunities and privileges
Records
Groups
Secondary liability and assessment notices etc: acting in the course of a related business
Close section
SCHEDULE 13: Penalties for facilitating avoidance schemes involving non-resident promoters
Liability to penalty
Amount of penalty
Procedure for assessing penalty etc
Appeals
Application of provisions of TMA 1970
Application of information and inspection powers
Application
Interpretation
Close section
SCHEDULE 14: Electronic sales suppression
PART 1: Introductory
PART 2: Liability to a penalty
PART 3: Supplementary provision
PART 4: Information
SCHEDULE 15: Treatment of goods in free zones
Close section
SCHEDULE 16: Freeport tax site reliefs: provision about regulations
PART 1: First-year allowance for plant and machinery
PART 2: Structures and buildings allowances
PART 3: Stamp duty land tax
Close section
SCHEDULE 17: Large businesses: notification of uncertain tax treatment
PART 1: Key definitions
PART 2: Requirement to notify HMRC of uncertain tax treatment
PART 3: Penalties
PART 4: Supplementary
PART 5: Consequential Amendments
PART 6: Commencement
Close section
SCHEDULE 18: Vehicle CO2 emissions certificates
PART 1: Amendments of CAA 2001
PART 2: Amendments of ITEPA 2003
PART 3: Amendments of VERA 1994
PART 4: Power to make consequential provision
Close section
Finance Act 2023
Close section
Energy (oil and gas) profits levy
1: Increase in rate of tax
2: Reducing the amount of additional investment expenditure
3: Extending the period for which tax has effect
Close section
Corporation tax
4: Amount of relief for expenditure on research and development
Close section
Income tax
5: Basic rate limit and personal allowance for tax years 2026-27 and 2027-28
6: Threshold at which additional rate is charged
7: Dividend nil rate
Close section
Capital gains tax
8: Annual exempt amount
Close section
Inheritance tax
9: Rate bands etc for tax years 2026-27 and 2027-28
Close section
Taxation of vehicles
10: Removal of VED exemption for electrically propelled vehicles etc
11: Taxable benefits: appropriate percentage for cars with a CO2 emissions figure
Close section
Final
12: Short title
Close section
Finance (No. 2) Act 2023
Close section
Part 1: Income tax, corporation tax and capital gains tax
Income tax charge, rates etc
Corporation tax charge and rates
Capital allowances
Other reliefs relating to businesses
Reliefs for employees
Pensions
Social security
Foster carers etc
Estates in administration and trusts
Provisions relating to insurance
Miscellaneous corporation tax matters
International matters
Chargeable gains
Close section
Part 2: Alcohol Duty
Chapter 1: Charge to alcohol duty
Chapter 2: Draught relief
Chapter 3: Small producer relief
Chapter 4: Other reliefs and exemptions
Chapter 5: Regulated activities and approvals
Chapter 6: Denatured alcohol
Chapter 7: Wholesaling of controlled alcoholic products
Chapter 8: Supplementary
Chapter 9: repeals, further amendments and transitional provisions
Chapter 10: Final provisions
Close section
Part 3: Multinational top-up tax
Chapter 1: Introduction and charge
Chapter 2: Qualifying multinational groups and their members
Chapter 3: Effective tax rate of members of a multinational group in a territory
Chapter 4: Calculation of adjusted profits of members of a multinational group
Chapter 5: Covered tax balance
Chapter 6: Calculation of top-up amounts
Chapter 7: Allocating top-up amounts to responsible members
Chapter 8: Further adjustments
Chapter 9: Special provision for investment entities, joint venture groups and minority-owned members
Chapter 10: Definitions etc
Chapter 11: General and miscellaneous provision
Close section
Part 4: Domestic top-up tax
Chapter 1: Introduction
Chapter 2: Charge to domestic top-up tax
Chapter 3: Application of multinational top-up tax provisions
Close section
Part 5: Electricity generator levy
Introduction and charge
Calculation of exceptional generation receipts
Groups, partnerships and joint ventures
Attribution and surrender of amounts: joint ventures and significant minority shareholders
Treatment of company as transparent as alternative to attribution and surrender
Management and administration
Supplemental
Close section
Part 6: Other taxes
Stamp duty land tax
Value added tax
Import duty
Fuel duties
Tobacco products duty
Soft drinks industry levy
Air passenger duty
Vehicle taxes
Environmental taxes
Close section
Part 7: Miscellaneous and final
Freeports and investment zones
Administration
Management of customs and excise
Conditionality
Charities and community amateur sports clubs
Homes for Ukraine Sponsorship Scheme
Office of Tax Simplification
The dormant assets scheme
Other
Final
Schedules:
Close section
Schedule 1: Relief for research and development
Part 1: Claim notifications
Part 2: R&D expenditure on data and cloud computing
Part 3: Amendments to Schedule 18 to FA 1998
Part 4: Miscellaneous amendments
Part 5: Commencement
Close section
Schedule 2: Estates in administration and trusts
Part 1: Estates in administration
Part 2: Low income trusts and estates
Part 3: Rate of tax charged on trustees’ first slice of trust rate income: income tax
Part 4: Commencement
Close section
Schedule 3: Corporate interest restriction etc.
Part 1: Amendments to TIOPA 2010
Part 2: Other amendments
Part 3: Parts 1 and 2: commencement and transitional provision
Part 4: Tax treatment of financing costs and income
Close section
Schedule 4: Investment vehicles
Part 1: UK property rich collective investment vehicles etc
Part 2: Real estate investment trusts
Part 3: Qualifying asset holding companies
Close section
Schedule 5: Records relating to transfer pricing
Part 1: Amendments relating to corporation tax
Part 2: Amendments relating to income tax
Part 3: Amendments relating to corporation tax and income tax
Part 4: Commencement
Close section
Schedule 6: Categories of alcoholic products: interpretation
Spirits
Beer
Cider
Wine
Other fermented products
Schedule 7: Rates of alcohol duty
Schedule 8: Qualifying draught products: reduced rates
Close section
Schedule 9: Small producer alc