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UK Tax Legislation
Bloomsbury Professional
Publication Date: 21 April 2023
Publisher: Bloomsbury Professional
Copyright: 2023 Bloomsbury Professional
Law As Stated At: 20 April 2023
UK Tax Legislation
The full, consolidated text of the principal UK Tax Acts
Last updated: 21 April 2023
Contents
- Close sectionCapital Allowances Act 2001
- Arrangement of Sections
- Close sectionPart 1: Introduction [ss.1-10]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 4: ... [ss.361-393]
- Close sectionPart 4A: ... [ss.393A-393W]
- Close sectionPart 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 sectionPart 6: Research and development allowances [ss.437-451]
- Close sectionPart 7: Know-how allowances [ss.452-463]
- Close sectionPart 8: Patent allowances [ss.464-483]
- Close sectionPart 9: Dredging allowances [ss.484-489]
- Close sectionPart 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 sectionPart 11: Contributions [ss.532-543]
- Close sectionPart 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 sectionSchedule 1: Abbreviations and defined expressions
- Close sectionSchedule 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 sectionSchedule 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 sectionCorporation Tax Act 2009
- Arrangement of Sections
- Close sectionPart 1: Introduction [ss.A1-1]
- Close sectionPart 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 sectionPart 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 sectionChapter 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 9: Intellectual property: know-how and patents [ss.907-931]
- Close sectionPart 9A: Company distributions [ss.931A-931W]
- Close sectionPart 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 sectionPart 11: Relief for particular employee share acquisition schemes [ss.983-1000]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 15: Film production [ss.1180-1216]
- Close sectionPart 15A: Television production [ss.1216A-1216EC]
- Close sectionPart 15B: Video games development [ss.1217A-1217EC]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 17: Partnerships [ss.1256-1273A]
- Close sectionPart 18: Unremittable income [ss.1274-1278]
- Close sectionPart 19: General exemptions [ss.1279-1287]
- Close sectionPart 20: General calculation rules [ss.1288-1309]
- Close sectionPart 21: Other general provisions [ss.1310-1330]
- Close sectionSchedule 1: Minor and consequential amendments
- Close sectionSchedule 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 sectionSchedule 3: Repeals and revocations
- Schedule 4: Index of defined expressions
- Close sectionCorporation Tax Act 2010
- Arrangement of Sections
- Close sectionPart 1: Introduction [s.1]
- Close sectionPart 2: Calculation of liability in respect of profits [ss.2-17]
- Close sectionPart 3: ... [ss.18-34]
- Close sectionPart 3A: Companies with small profits [ss.18A-18N]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 6: Charitable donations relief [ss.189-217]
- Close sectionPart 6A: Relief for expenditure on grassroots sport
- Close sectionPart 7: Community investment tax relief [ss.218-269]
- Close sectionPart 7ZA: Restrictions on obtaining certain deductions [ss.269ZA-269ZZB]
- Close sectionPart 7A: Banking companies [ss.269A-269DO]
- Close sectionPart 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 sectionPart 8ZA: Oil contractors [ss.356K-356NG]
- Close sectionPart 8ZB: Transactions in UK land [ss.356OA-356OT]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 11: Charitable companies etc [ss.466-517]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 14A: Transfer of deductions [ss.730A-730D]
- Close sectionPart 14B: Tax avoidance involving carried-forward losses [ss.730E-730H]
- Close sectionPart 15: Transactions in securities [ss.731-751]
- Close sectionPart 16: Factoring of income etc [ss.752-779B]
- Close sectionPart 17: ... [ss.780-814]
- Close sectionPart 17A: Manufactured dividends [ss.814A-814D]
- Close sectionPart 18: Transactions in land [ss.815-833]
- Close sectionPart 19: Sale and lease-back etc [ss.834-886]
- Close sectionPart 20: Tax avoidance involving leasing plant or machinery [ss.887-894A]
- Close sectionPart 21: Leasing arrangements: finance leases and loans [ss.895-937]
- Close sectionPart 21A: Risk transfer schemes [ss.937A-937O]
- Close sectionPart 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 sectionPart 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 sectionPart 21C: Tainted charity donations [ss.939A-939I]
- Close sectionPart 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 sectionPart 23: Company distributions [ss.997-1117]
- Chapter 1: Introduction [s.997]
- Close sectionChapter 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 sectionChapter 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 sectionChapter 4: Special rules for distributions made by certain companies [ss.1064-1072]
- Close sectionChapter 5: Demergers [ss.1073-1099]
- Close sectionChapter 6: Information and returns: further provisions [ss.1100-1108]
- Chapter 7: Tax credits [ss.1109-1111]
- Chapter 8: Interpretation of Part [ss.1112-1117]
- Close sectionPart 24: Corporation Tax Acts definitions etc [ss.1118-1173]
- Close sectionPart 25: Definitions for purposes of Act and final provisions [ss.1174-1185]
- Close sectionSchedule 1: Minor and consequential amendments
- Close sectionSchedule 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 sectionSchedule 3: Repeals and revocations
- Schedule 4: Index of defined expressions
- Close sectionIncome Tax (Earnings and Pensions) Act 2003
- Arrangement of Sections
- Close sectionPart 1: Overview [ss.1-2]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 6: Employment income: income which is not earnings or share-related [ss.386-416]
- Close sectionPart 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 sectionPart 7A: Employment income provided through third parties [ss.554A-554Z21]
- Close sectionPart 8: Former employees: deductions for liabilities [ss.555-564]
- Close sectionPart 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 sectionPart 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 sectionPart 11: Pay As You Earn [ss.682-712]
- Close sectionPart 12: Payroll giving [ss.713-715]
- Close sectionPart 13: Supplementary provisions [ss.716-725]
- Close sectionSchedule 1: Abbreviations and defined expressions
- Close sectionSchedule 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 sectionSchedule 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 sectionSchedule 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 sectionSchedule 5: Enterprise management incentives
- Close sectionSchedule 6: Consequential Amendments
- Close sectionSchedule 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 sectionSchedule 8: Repeals and revocations
- Close sectionIncome Tax (Trading and Other Income) Act 2005
- Arrangement of sections
- Close sectionPart 1: Overview [ss.1-2]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 6A: Income charged under this act: trading and property allowances [ss.783A-783BQ]
- Close sectionPart 7: Income charged under this Act: rent-a-room and qualifying care relief [ss.784-828]
- Close sectionPart 8: Foreign income: special rules [ss.829-845]
- Close sectionPart 9: Partnerships [ss.846-863L]
- Close sectionPart 10: General provisions [ss.864-886]
- Close sectionSchedule 1: Consequential amendments
- Close sectionSchedule 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 sectionSchedule 4: Abbreviations and defined expressions
- Close sectionIncome Tax Act 2007
- Arrangement of sections
- Close sectionPart 1: Overview [ss.1-2]
- Close sectionPart 2: Basic provisions [ss.3-32]
- Close sectionPart 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 sectionPart 4: Loss relief [ss.59-155]
- Chapter 1: Introduction [s.59]
- Close sectionChapter 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 sectionChapter 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 sectionChapter 4: Losses from property businesses [ss.117-127C]
- Chapter 5: Losses in an employment or office [ss.128-130]
- Close sectionChapter 6: Losses on disposal of shares [ss.131-150]
- Close sectionChapter 7: Losses from miscellaneous transactions [ss.151-155]
- Close sectionPart 5: Enterprise investment scheme [ss.156-257]
- Close sectionChapter 1: Introduction [ss.156-161]
- Close sectionChapter 2: The investor [ss.162-171]
- Close sectionChapter 3: General requirements [ss.172-179]
- Close sectionChapter 4: The issuing company [ss.180-200]
- Close sectionChapter 5: Attribution of and claims for EIS relief [ss.201-207]
- Close sectionChapter 6: Withdrawal or reduction of EIS relief [ss.208-234]
- Close sectionChapter 7: Withdrawal or reduction of EIS relief: procedure [ss.235-244]
- Close sectionChapter 8: Supplementary and general [ss.245-257]
- Close sectionPart 5A: Seed enterprise investment scheme [ss.257A-257HJ]
- Chapter 1: Introduction [ss.257A-257AE]
- Close sectionChapter 2: The investor [ss.257B-257BF]
- Close sectionChapter 3: General requirements [ss.257C-257CF]
- Close sectionChapter 4: The issuing company [ss.257D-257DN]
- Close sectionChapter 5: Attribution and claims for SEIS relief [ss.257E-257EG]
- Close sectionChapter 6: Withdrawal or reduction of SEIS relief [ss.257F-257FR]
- Close sectionChapter 7: Withdrawal or reduction of SEIS relief: procedure [ss.257G-257GI]
- Close sectionChapter 8: Supplementary and general [ss.257H-257HJ]
- Close sectionPart 5B: Tax relief for social investments [ss.257J-257TE]
- Chapter 1: Introduction [ss.257J-257JH]
- Close sectionChapter 2: Eligibility for relief: basic rule and key definitions [ss.257K-257KC]
- Chapter 3: Eligibility: conditions relating to the investor and the investment [ss.257L-257LH]
- Close sectionChapter 4: Eligibility: conditions relating to the social enterprise [ss.257M-257MW]
- Chapter 5: Attribution of relief [s.257N]
- Chapter 6: Claims for relief [ss.257P-257PE]
- Close sectionChapter 7: Withdrawal or reduction of SI relief [ss.257Q-257RC]
- Close sectionChapter 8: Withdrawal or reduction of SI relief: procedure [ss.257S-257SI]
- Chapter 9: Miscellaneous and supplementary provisions [ss.257T-257TE]
- Close sectionPart 6: Venture capital trusts [ss.258-332]
- Chapter 1: Introduction [ss.258-260]
- Close sectionChapter 2: VCT relief [ss.261-273]
- Close sectionChapter 3: VCT approvals [ss.274-285]
- Close sectionChapter 4: Qualifying holdings [ss.286-313]
- Close sectionChapter 5: Powers: winding up and mergers of VCTs [ss.314-325]
- Close sectionChapter 6: Supplementary and general [ss.326-332]
- Close sectionPart 7: Community investment tax relief [ss.333-382]
- Close sectionChapter 1: Introduction [ss.332-339]
- 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 sectionChapter 5: Claims for and attribution of CITR [ss.354-358]
- Close sectionChapter 6: Withdrawal or reduction of CITR [ss.359-372]
- Close sectionChapter 7: Supplementary and general [ss.372A-382]
- Close sectionPart 8: Other reliefs [ss.383-412]
- Close sectionChapter 1: Interest payments [ss.413-412]
- Close sectionChapter 1A: Irrecoverable peer-to-peer loans [ss.412A-430]
- Close sectionChapter 2: Gift aid [ss.413-430]
- Close sectionChapter 3: Gifts of shares, securities and real property to charities etc [ss.431-446]
- Chapter 4: Annual payments [ss.447-452]
- Chapter 5: Qualifying maintenance payments [ss.453-456]
- Close sectionChapter 6: Miscellaneous other reliefs [ss.457-461]
- Close sectionPart 9: Special rules about settlements and trustees [ss.462-517]
- Chapter 1: Introduction [ss.462-464]
- Close sectionChapter 2: General provision about settlements and trustees [ss.465-478]
- 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 sectionChapter 7: Discretionary payments [ss.493-498]
- Chapter 8: Trustees' expenses and beneficiary's income [ss.499-503]
- Chapter 9: ... [ss.504-506]
- Close sectionChapter 10: Heritage maintenance settlements [ss.507-517]
- Close sectionPart 9A: Transactions in UK land [ss.517A-517U]
- Close sectionPart 10: Special rules about charitable trusts etc [ss.518-564]
- Close sectionPart 10A: Alternative finance arrangements [ss.564A-564Y]
- Close sectionPart 11: ... [ss.565-614]
- Close sectionPart 11ZA: Manufactured payments
- Close sectionPart 11A: Leasing arrangements: finance leases and loans [ss.614A-614DG]
- Close sectionChapter 1: Introduction [ss.614A-6141C]
- Close sectionChapter 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 sectionChapter 3: Other finance leases [ss.614C-614CD]
- Chapter 4: Supplementary provisions [ss.614D-614DG]
- Close sectionPart 12: Accrued income profits [ss.615-681]
- Close sectionPart 12A: Sale and lease-back etc [ss.681A-681DP]
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 16: Income Tax Acts definitions etc [ss.998-1016]
- Close sectionPart 17: Definitions for purposes of Act and final provisions
- Close sectionSchedule 1: Minor and consequential amendments
- Close sectionSchedule 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 sectionSchedule 3: Repeals and revocations
- Schedule 4: Index of defined expressions
- Close sectionInheritance Tax Act 1984
- Arrangement of sections
- Close sectionPart I: General [ss.1-17]
- Close sectionPart II: Exempt transfers [ss.18-42]
- Close sectionChapter 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 sectionChapter 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 sectionChapter III: Allocation of exemptions [ss.36-42]
- Close sectionChapter I: General [ss.18-29A]
- Close sectionPart III: Settled property [ss.43-87]
- Close sectionChapter 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 sectionChapter 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 sectionChapter 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 sectionChapter I: Preliminary [ss.43-48]
- Close sectionPart IV: Close companies [ss.94-102]
- Close sectionPart V: Miscellaneous reliefs [ss.103-159]
- Close sectionChapter 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 sectionChapter 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 sectionChapter III: Woodlands [ss.125-130]
- Chapter IV: Transfers within three years before death [ss.131-140]
- Close sectionChapter 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]
- Close sectionChapter I: Business property [ss.103-114]
- Close sectionPart VI: Valuation [ss.160-198]
- Close sectionPart VII: Liability [ss.199-214]
- Close sectionPart 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 sectionPart IX: Miscellaneous and supplementary [ss.262-278]
- Close sectionSchedule A1: Non-excluded overseas property
- Schedule 1: Rates of Tax
- Close sectionSchedule 1A: Gifts to charities etc: tax charged at lower rate
- Close sectionSchedule 2: Provisions applying on reduction of tax
- Schedule 3: Gifts for national purposes, etc.
- Close sectionSchedule 4: Maintenance funds for historic buildings, etc.
- Close sectionSchedule 5: Conditional exemption: deaths before 7th April 1976
- Close sectionSchedule 5A: Qualifying payments: victims of persecution during Second World War era
- Close sectionSchedule 6: Transition from Estate Duty
- Schedule 7: Commencement: supplementary rules
- Close sectionSchedule 8: Consequential amendments
- Close sectionSchedule 9: Repeals
- Close sectionTaxation of Chargeable Gains Act 1992
- Arrangement of sections
- Close sectionPart 1: Capital gains tax and corporation tax on chargeable gains [ss.1-3G]
- Close sectionPart II: General Provisions relating to computation of gains and acquisitions and disposals of assets [ss.15-57C]
- Close sectionPart 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 sectionPart IV: Shares, securities, options etc. [ss.104-151Y]
- Chapter I: General [ss.104-125A]
- Close sectionChapter II: Reorganisation of share capital, conversion of securities etc. [ss.126-140C]
- Chapter III: Miscellaneous provisions relating to commodities, futures, options and other securities [ss.141-151G]
- Close sectionChapter 4: Alternative finance arrangements [ss.151H-151Y]
- Close sectionPart 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 sectionPart VI: Companies, oil, insurance etc. [ss.170-221]
- Close sectionPart 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 sectionPart 7A: UK representatives of non-UK residents [ss.271A-271J]
- Close sectionPart 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 sectionSchedule 1A: Assets deriving 75% of value from UK land etc
- Schedule 1B: Residential property gains
- Schedule 1C: Annual exempt amount in cases involving settled property
- Close sectionSchedule 2: Assets held on 31st March 1982
- Schedule 3: Deferred charges on gains before 31st March 1982
- Schedule 4: Relevant high value disposals: gains and losses
- Close sectionSchedule 4AA: Re-basing for non-residents in respect of UK land etc held on 5 April 2019
- 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 sectionSchedule 5AAA: UK property rich collective investment vehicles etc
- 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 sectionSchedule 7: Relief for Gifts of Business Assets
- Close sectionSchedule 7ZA: Business asset disposal relief: "trading company" and "trading group"
- Schedule 7ZB: Investors' Relief: disqualification of shares
- Schedule 7A: Restriction on set-off of pre-entry losses ...
- Schedule 7AA: ...
- Schedule 7AB:
- Close sectionSchedule 7AC: Exemptions for disposals by companies with substantial shareholding
- 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 sectionSchedule 7D: Leases
- Schedule 8: ...
- Schedule 8A: Hold-over relief for gains re-invested in social enterprises
- Schedule 8B: Gilt-edged securities
- Close sectionSchedule 9: Consequential amendments
- Schedule 10: Transitional provisions and savings
- Close sectionSchedule 11: Transitional Provisions and Savings
- Schedule 12: Repeals
- Close sectionTaxation (International and Other Provisions) Act 2010
- Arrangement of sections
- Close sectionPart 1: Overview [s.1]
- Close sectionPart 2: Double taxation relief [ss.2-104]
- Close sectionChapter 1: Double taxation arrangements and unilateral relief arrangements [ss.2-17]
- Close sectionChapter 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 sectionChapter 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 sectionPart 3: Double taxation relief for special withholding tax [ss.135-145]
- Close sectionPart 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 sectionPart 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 sectionPart 6: ... [ss.231-259]
- Close sectionPart 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 sectionPart 7: ... [ss.260-353B]
- Close sectionPart 8: Offshore funds etc [ss.354-363A]
- Close sectionPart 9: Amendments to relocate provisions of tax legislation [ss.364-371]
- Close sectionPart 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 sectionPart 10: Corporate interest restriction [ss.372-498]
- Close sectionChapter 1: Introduction [ss.372-374]
- Close sectionChapter 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 sectionChapter 3: Tax-interest amounts [ss.382-391A]
- Chapter 4: Interest capacity [ss.392-395A]
- Chapter 5: Interest allowance [ss.396-404]
- Chapter 6: Tax-EBITDA [ss.405-409]
- Close sectionChapter 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 sectionChapter 8: Public infrastructure [ss.432-449]
- Chapter 9: Cases involving particular types of company or business [ss.450-460]
- Chapter 10: Anti-avoidance [s.461]
- Close sectionChapter 11: Interpretation etc [ss.462-498]
- Close sectionPart 11: General provisions [ss.499-507]
- Schedule 1: Oil activities: new Chapter 16 Aof Part 2 of ITTOIA 2005
- Close sectionSchedule 2: Alternative finance arrangements
- Close sectionSchedule 3: Leasing arrangements: finance leases and loans
- 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 sectionSchedule 6: UK Representatives of non-UK residents
- Close sectionSchedule 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 sectionSchedule 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 sectionSchedule 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 sectionSchedule 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 sectionSchedule 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 sectionSchedule 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 sectionTaxes Management Act 1970
- Arrangement of sections
- Close sectionPart I: Administration [ss.1-6]
- Close sectionPart II: Returns of Income and Gains [ss.7-12B]
- Close sectionPart 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 sectionPart IIIA: Referral of questions during enquiry [ss.28ZA-28ZE]
- Close sectionPart 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.
- 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 sectionPart V: Appeals and Other Proceedings [ss.44-59]
- Close sectionPart 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 sectionPart VI: Collection and Recovery [ss.60-70A]
- Close sectionPart VII: Persons Chargeable in a Representative Capacity, etc. [ss.71-77A]
- Close sectionPart VIIA: Holders of licences under the Petroleum Act 1998 [ss.77B-77K]
- Close sectionPart VIII: ... [ss.78-85A]
- Close sectionPart 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 sectionPart 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 sectionPart XI: Miscellaneous and Supplemental [ss.108-118]
- Close sectionPart XII: General [ss.119-120]
- Close sectionSchedule 1:
- Schedule A1: Digital reporting and record-keeping
- Close sectionSchedule 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 sectionSchedule 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 sectionSchedule 1A: Claims etc. not Included in Returns
- Close sectionSchedule 1B: Claims for relief involving two or more years
- Schedule 2: ...
- Schedule 3: ...
- Close sectionSchedule 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 sectionSchedule 3ZAA: CGT exit charge payment plans
- Close sectionSchedule 3ZB: CT exit charge payment plans
- Close sectionSchedule 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 sectionSchedule 3A: Electronic lodgement of tax returns, etc.
- Close sectionSchedule 4: Savings and Transitory Provisions
- Close sectionValue Added Tax Act 1994
- Arrangement of sections
- Close sectionPart I: The charge to tax [ss.1-29]
- Close sectionPart II: Reliefs, exemptions and repayments [ss.29A-40]
- Close sectionPart 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
- 56: ...
- 57: ...
- 57A: Importation following zero-rated free zone supply: deemed supply
- Close sectionPart 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 sectionPart 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 sectionPart VI: Supplementary provisions [ss.88-102]
- Schedule A1: ...
- Close sectionSchedule 1: Registration in respect of taxable supplies: UK establishment
- Close sectionSchedule 1A: Registration in respect of supplies from other member States
- Schedule 2: ...
- Schedule 3: ...
- Close sectionSchedule 3A: Registration in respect of disposals of assets for which a VAT repayment is claimed
- Schedule 3B: ...
- Schedule 3BA: ...
- Close sectionSchedule 4: Matters to be treated as supply of goods or services
- Close sectionSchedule 4A: Place of supply of services: special rules
- Schedule 4B: ...
- Schedule 5: ...
- Schedule 5A: Goods Eligible to be Fiscally Warehoused
- Close sectionSchedule 6: Valuation: special cases
- Schedule 7: ...
- Close sectionSchedule 7A: Charge at Reduced Rate
- Part 1: Index to Reduced-Rate Supplies of Goods and Services
- Close sectionPart 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 sectionSchedule 8: Zero-rating
- Close sectionSchedule 9: Exemptions
- Close sectionSchedule 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 sectionSchedule 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 sectionSchedule 9ZC: Online sales by overseas persons and low value importations: modifications relating to the Northern Ireland Protocol
- Close sectionSchedule 9ZD: Distance selling of goods from Northern Ireland: special accounting scheme
- Close sectionSchedule 9ZE: Distance selling of goods imported to Northern Ireland: special accounting scheme
- Close sectionSchedule 9ZF: Modifications etc in connection with Schedules 9ZD and 9ZE
- Close sectionSchedule 9A: Anti-avoidance provisions: groups
- Close sectionSchedule 10: Buildings and land
- Close sectionSchedule 10A: Face-value vouchers issued before 1 January 2019
- Close sectionSchedule 10B: VAT treatment of vouchers issued on or after 1 January 2019
- Close sectionSchedule 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 sectionSchedule 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 sectionSchedule 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 sectionSchedule 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 sectionSchedule 15: Repeals
- Close sectionFinance Act 2006
- Arrangement of sections
- Close sectionPart 1: Excise duties [ss.1-15]
- Close sectionPart 2: Value added tax [ss.16-22]
- Close sectionPart 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 sectionChapter 2: Reliefs for business [ss.27-30]
- Close sectionChapter 3: Films and sound recordings [ss.31-53]
- 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 sectionChapter 7: Chargeable gains [ss.69-74]
- Close sectionChapter 8: Avoidance: miscellaneous [ss.75-80]
- Close sectionChapter 9: Miscellaneous provisions [ss.81-102]
- Close sectionPart 4: Real Estate Investment Trusts [ss.103-145]
- Close sectionPart 5: Oil [ss.146-154]
- Close sectionPart 6: Inheritance tax [ss.155-157]
- Close sectionPart 7: Pensions [ss.158-161]
- Close sectionPart 8: Stamp taxes [ss.162-169]
- Close sectionPart 9: Miscellaneous provisions [ss.170-177]
- Close sectionPart 10: Supplementary provisions [ss.178-180]
- Close sectionSchedule 1: Group relief where surrendering company not resident in UK
- Schedule 2: ...
- Close sectionSchedule 3: Claims for relief for research and development
- Schedule 4: ...
- Close sectionSchedule 5: Film tax relief: further provisions
- Close sectionSchedule 6: Avoidance involving financial arrangements
- Close sectionSchedule 7: Transfer of assets abroad
- Close sectionSchedule 8: Long funding leases of plant or machinery
- Close sectionSchedule 9: Leases of plant or machinery: miscellaneous amendments
- Schedule 10: ...
- Schedule 11: ...
- Close sectionSchedule 12: Settlements: amendment of TCGA 1992 etc
- Close sectionSchedule 13: Settlements: amendments to ICTA and ITTOIA 2005 etc
- Close sectionSchedule 14: Investment reliefs: venture capital schemes
- Close sectionSchedule 15: Accountancy change: spreading of adjustment
- Schedule 16: ...
- Schedule 17: ...
- Close sectionSchedule 18: Oil taxation: market value of oil
- Schedule 19: ...
- Close sectionSchedule 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 sectionSchedule 22: Pension schemes: inheritance tax
- Close sectionSchedule 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 sectionSchedule 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 sectionSchedule 25: Stamp duty land tax: amendments of Schedule 17A to FA 2003
- Close sectionSchedule 26: Repeals
- Close sectionFinance Act 2008
- Arrangement of sections
- Close sectionPart 1: Charges, rates, allowances, reliefs etc [ss.1-23]
- Close sectionPart 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 sectionPart 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 sectionPart 4: Pensions [ss.90-92]
- Close sectionPart 5: Stamp taxes [ss.93-101]
- Close sectionPart 6: Oil [ss.102-112]
- Close sectionPart 7: Administration
- Close sectionPart 8: Miscellaneous [ss.140-164]
- Close sectionPart 9: Final provisions
- Close sectionSchedule 1: Abolition of starting and savings rates and creation of starting rate for savings
- Close sectionSchedule 2: Capital gains tax reform
- Close sectionSchedule 3: Entrepreneurs' relief
- Close sectionSchedule 4: Inheritance tax: transfer of nil-rate band etc
- Schedule 5: Fuel duty: biodiesel and bioblend
- Close sectionSchedule 6: Aircraft and boat fuel, heating oil and fuel used for certain engines
- Close sectionSchedule 7: Remittance basis
- Schedule 8: ...
- Schedule 9: ...
- Schedule 10: ...
- Close sectionSchedule 11: Venture capital schemes
- Close sectionSchedule 12: Tax credit for certain foreign distributions
- Schedule 13: ...
- Close sectionSchedule 14: Company gains from investment life insurance contracts: consequential amendments etc
- Close sectionSchedule 15: Changes in trading stock
- Close sectionSchedule 16: Non-residents: investment managers
- Close sectionSchedule 17: Insurance companies etc
- Schedule 18: ...
- Close sectionSchedule 19: Reduction of basic rate of income tax: transitional relief for gift aid charities
- Close sectionSchedule 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 sectionSchedule 21: Restriction on loss relief for non-active traders
- Close sectionSchedule 22: Avoidance involving financial arrangements
- Close sectionSchedule 23: Manufactured payments: anti-avoidance
- Close sectionSchedule 24: Annual investment allowance
- Schedule 25: ...
- Close sectionSchedule 26: Special rate expenditure and the special rate pool
- Close sectionSchedule 27: Abolition of allowances: consequential amendments and savings
- Close sectionSchedule 28: Inheritance of tax-relieved pension savings
- Close sectionSchedule 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 sectionSchedule 30: Stamp duty land tax: notification etc: consequential provision
- Close sectionSchedule 31: Stamp duty land tax: special provisions for property-investment partnerships
- Close sectionSchedule 32: Stamp duty: abolition of fixed duty on certain instruments
- Close sectionSchedule 33: PRT: elections for oil fields to become non-taxable
- Close sectionSchedule 34: Oil decommissioning expenditure: consequential amendments
- Close sectionSchedule 35: Set off against oil profits: minor and consequential amendments
- Close sectionSchedule 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
- Application to the Crown
- Part 7: Penalties
- Part 8: Offence
- Part 9: Miscellaneous provisions and interpretation
- Part 10: Consequential provisions
- Close sectionSchedule 37: Record-keeping
- Close sectionSchedule 38: Disclosure of tax avoidance schemes
- Close sectionSchedule 39: Time limits for assessments, claims etc.
- Schedule 40: Penalties: amendments of Schedule 24 to FA 2007
- Close sectionSchedule 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 sectionSchedule 43: Taking control of goods etc: consequential provision
- Close sectionSchedule 44: Certificates of debt: consequential provision
- Close sectionSchedule 45: Vehicle excise duty: offence of using or keeping unlicensed vehicle
- Close sectionSchedule 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 sectionFinance Act 2012
- Arrangement of sections
- Close sectionPart 1: Income tax, corporation tax and capital gains tax
- Close sectionPart 2: Insurance companies carrying on long-term business [ss.55-149]
- Close sectionChapter 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 sectionChapter 2: Charge to tax on I - E basis etc [ss.66-72]
- Close sectionChapter 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 sectionChapter 4: Apportionment rules for I - E charge [ss.97-101]
- Close sectionChapter 5: I - E profit: policyholders' rate of tax [ss.102-108]
- 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 sectionChapter 9: Relief for BLAGAB trade losses etc [ss.123-127]
- Close sectionChapter 10: Transfers of long-term business [ss.128-135]
- Chapter 11: Definitions [ss.136-141]
- Close sectionChapter 12: Supplementary [ss.142-149]
- Close sectionChapter 1: Introductory [ss.55-65]
- Close sectionPart 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 sectionPart 4: Controlled foreign companies and foreign permanent establishments [s.180]
- Close sectionPart 5: Oil [ss.181-184]
- Close sectionPart 6: Excise duties [ss.185-195]
- Close sectionPart 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 sectionPart 8: Other taxes [ss.205-217]
- Close sectionPart 9: Miscellaneous matters [ss.218-227]
- Close sectionPart 10: Final provisions [ss.228-229]
- Close sectionSchedule 1: High income child benefit charge
- Close sectionSchedule 2: Profits arising from the exploitation of patents etc
- Close sectionSchedule 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 sectionSchedule 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 sectionSchedule 6: Seed enterprise investment scheme
- Close sectionSchedule 7: Enterprise investment scheme
- Close sectionSchedule 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 sectionSchedule 9: Capital allowances for plant and machinery: anti-avoidance
- Close sectionSchedule 10: Plant and machinery allowances: fixtures
- Schedule 11: Expenditure on plant and machinery for use in designated assisted areas
- Close sectionSchedule 12: Foreign income and gains
- Close sectionSchedule 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 sectionSchedule 14: Gifts to the nation
- Close sectionSchedule 15: Relief in respect of gift aid and other income
- Close sectionSchedule 16: Part 2: minor and consequential amendments
- Close sectionSchedule 17: Part 2: transitional provision
- Close sectionSchedule 18: Part 3: consequential amendments
- Close sectionSchedule 19: Part 3: transitional provision
- Close sectionSchedule 20: Controlled foreign companies and foreign permanent establishments
- Close sectionSchedule 21: Relief in respect of decommissioning expenditure
- Close sectionSchedule 22: Reduction of supplementary charge for certain oil fields
- Close sectionSchedule 23: Air passenger duty
- Close sectionSchedule 24: Machine games duty
- Close sectionSchedule 25: Remote gambling: double taxation relief
- Close sectionSchedule 26: Categorisation of supplies
- Close sectionSchedule 27: Anti-forestalling charge to VAT
- Close sectionSchedule 28: Non-established taxable persons
- Schedule 29: Administration of VAT
- Close sectionSchedule 30: Climate change levy
- Schedule 31: Climate change levy: climate change agreements
- Close sectionSchedule 32: Climate change levy: supplies subject to the carbon price support rates and combined heat and power stations
- Close sectionSchedule 33: Inheritance tax: gifts to charities etc
- Close sectionSchedule 34: Bank levy
- Close sectionSchedule 35: Stamp duty land tax: higher rate for certain transactions
- Close sectionSchedule 36: Agreement between UK and Switzerland
- Close sectionSchedule 37: International military headquarters, EU forces, etc
- Close sectionSchedule 38: Tax agents: dishonest conduct
- Close sectionSchedule 39: Repeal of miscellaneous reliefs etc
- Close sectionFinance Act 2015
- Arrangement of sections
- Close sectionPart 1: Income tax, corporation tax and capital gains tax [ss.1-51]
- Close sectionPart 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 sectionPart 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 sectionPart 4: Other provisions [ss.117-124]
- Close sectionPart 5: Final provisions [ss.125-127]
- Close sectionSchedule 1: Extension of benefits code except in relation to certain ministers of religion
- Close sectionSchedule 2: Restrictions applying to certain deductions made by banking companies
- Close sectionSchedule 3: Tax avoidance involving carried-forward losses
- Close sectionSchedule 4: Pension flexibility: annuities etc
- Close sectionSchedule 5: Relief for contributions to flood and coastal erosion risk management projects
- Close sectionSchedule 6: Investment reliefs: excluded activities
- Close sectionSchedule 7: Disposals of UK residential property interests by non-residents etc
- Close sectionSchedule 8: Relevant high value disposals: gains and losses
- Schedule 9: Private residence relief
- Close sectionSchedule 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 sectionSchedule 11: Extension of ring fence expenditure supplement
- Close sectionSchedule 12: Supplementary charge: investment allowance
- Close sectionSchedule 13: Supplementary charge: cluster area allowance
- Close sectionSchedule 14: Investment allowance and cluster area allowance: further amendments
- Schedule 15: Landfill tax: material consisting of fines
- Close sectionSchedule 16: Recovery of unpaid diverted profits tax due from non-UK resident company
- Close sectionSchedule 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 sectionSchedule 18: Accelerated payments: group relief
- Close sectionSchedule 19: Promoters of tax avoidance schemes
- Close sectionSchedule 20: Penalties in connection with offshore matters and offshore transfers
- Close sectionSchedule 21: Penalties in connection with offshore asset moves
- Close sectionFinance Act 2016
- Arrangement of sections
- Close sectionPart 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 sectionPart 2: Corporation tax [ss.45-68]
- Close sectionPart 3: Income tax and corporation tax [ss.69-82]
- Close sectionPart 4: Capital gains tax [ss.83-92]
- Close sectionPart 5: Inheritance tax etc [ss.93-97]
- Close sectionPart 6: Apprenticeship levy [ss.98-121]
- Close sectionPart 7: VAT [ss.122-126]
- Close sectionPart 8: SDLT and ATED
- Close sectionPart 9: Other taxes and duties [ss.137-155]
- Close sectionPart 10: Tax avoidance and evasion [ss.156-166]
- Close sectionPart 11: Administration, enforcement and supplementary powers [ss.167-183]
- Close sectionPart 12: Office of Tax Simplification [ss.184-189]
- Close sectionPart 13: Final [ss.190-191]
- Close sectionSchedule 1: Abolition of dividend tax credits etc
- Close sectionSchedule 2: Sporting testimonial payments
- Close sectionSchedule 3: Employee share schemes: minor amendments
- Close sectionSchedule 4: Pensions: lifetime allowance: transitional provision
- Close sectionSchedule 5: Pension flexibility
- Close sectionSchedule 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 sectionSchedule 7: Loan relationships and derivative contracts
- Close sectionSchedule 8: Tax relief for production of orchestral concerts
- Close sectionSchedule 9: Profits from the exploitation of patents etc: consequential
- Close sectionSchedule 10: Hybrid and other mismatches
- Close sectionSchedule 11: Disposals of non-UK residential property interests
- Close sectionSchedule 12: Disposals of residential property interests: gains and losses
- Close sectionSchedule 13: Entrepreneurs' relief: "trading company" and "trading group"
- Close sectionSchedule 14: Investors' relief
- Close sectionSchedule 15: Inheritance tax: increased nil-rate band
- Close sectionSchedule 16: Property authorised investment funds and co-ownership authorised contractual schemes
- Close sectionSchedule 17: Aqua methanol etc
- Close sectionSchedule 18: Serial tax avoidance
- Close sectionSchedule 19: Large businesses: tax strategies and sanctions
- Close sectionSchedule 20: Penalties for enablers of offshore tax evasion or non-compliance
- Close sectionSchedule 21: Penalties relating to offshore matters and offshore transfers
- Close sectionSchedule 22: Asset-based penalty for offshore inaccuracies and failures
- Close sectionSchedule 23: Simple assessments
- Close sectionSchedule 24: Tax advantages constituting the grant of state aid
- Close sectionSchedule 25: Office of Tax Simplification
- Close sectionFinance Act 2017
- Arrangement of sections
- Close sectionPart 1: Direct and indirect taxes [ss.1-24]
- Close sectionPart 2: Soft drinks industry levy [ss.25-61]
- Close sectionPart 3: Final [ss.62-63]
- Close sectionSCHEDULE 1: Workers' services provided to public sector through intermediaries
- Close sectionSCHEDULE 2: Optional remuneration arrangements
- Close sectionSCHEDULE 3: Overseas pensions
- Close sectionSCHEDULE 4: Pensions: offshore transfers
- Close sectionSCHEDULE 5: Deduction of income tax at source
- Close sectionSCHEDULE 6: Employment income provided through third parties
- Close sectionSCHEDULE 7: VAT: zero-rating of adapted motor vehicles etc
- Close sectionSCHEDULE 8: Soft drinks industry levy: recovery and overpayments
- Close sectionSCHEDULE 9: Soft drinks industry levy: requirements to keep records etc: penalties
- Close sectionSCHEDULE 10: Soft drinks industry levy: appeals and reviews
- Close sectionSCHEDULE 11: Soft drinks industry levy: supplementary amendments
- Close sectionFinance (No. 2) Act 2017
- Arrangement of sections
- Close sectionPart 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 sectionPart 2: Indirect taxes [ss.43-47]
- Close sectionPart 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 sectionPart 4: Administration, avoidance and enforcement
- Close sectionPart 5: Final [ss.70-72]
- Close sectionSchedule 1: Social investment tax relief
- Close sectionSchedule 2: Trades and property businesses: calculation of profits
- Close sectionSchedule 3: Trading and property allowances
- Close sectionSchedule 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 sectionSchedule 5: Corporate interest restriction
- Close sectionSchedule 6: Relief for production of museum and gallery exhibitions
- Close sectionSchedule 7: Trading profits taxable at the Northern Ireland rate
- Close sectionSchedule 8: Deemed domicile: income tax and capital gains tax
- Close sectionSchedule 9: Settlements and transfer of assets abroad: value of benefits
- Close sectionSchedule 10: Inheritance tax on overseas property representing UK residential property
- Close sectionSchedule 11: Employment income provided through third parties: loans etc outstanding on 5 April 2019
- Close sectionSchedule 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 sectionSchedule 13: Imported goods fulfilment businesses: penalty
- Close sectionSchedule 14: Digital reporting and record-keeping for income tax etc: further amendments
- Close sectionSchedule 15: Partial closure notices
- Close sectionSchedule 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 sectionSchedule 17: Disclosure of tax avoidance schemes: VAT and other indirect taxes
- Close sectionSchedule 18: Requirement to correct certain offshore tax non-compliance
- Close sectionFinance Act 2018
- Arrangement of sections
- Close sectionPart 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 sectionPart 2: Indirect taxes [ss.38-45]
- Close sectionPart 3: Miscellaneous and final [ss.46-50]
- Close sectionSchedule 1: Employment income provided through third parties
- Schedule 2: Trading income provided through third parties: loans etc outstanding on 5 April 2019
- Close sectionSchedule 3: Pension schemes
- Close sectionSchedule 4: EIS and VCT reliefs: knowledge-intensive companies
- Close sectionSchedule 5: Venture capital trusts: further amendments
- Close sectionSchedule 6: Partnerships
- Close sectionSchedule 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 sectionSchedule 8: Corporate interest restriction
- Close sectionSchedule 9: Bank levy
- Close sectionSchedule 10: Settlements: anti-avoidance etc
- Close sectionSchedule 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 sectionSchedule 12: Landfill tax: disposals not made at landfill sites, etc
- Close sectionFinance Act 2019
- Arrangement of sections
- Close sectionPart 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 sectionPart 2: Other taxes [ss.42-68]
- Close sectionPart 3: ... [ss.69-79]
- Close sectionPart 4: Administration and enforcement [ss.80-88]
- Close sectionPart 5: Miscellaneous and final [ss.89-97]
- Close sectionSchedule 1: Chargeable gains accruing to non-residents etc
- Close sectionSchedule 2: Returns for disposals of UK land etc
- Schedule 3: Offshore receipts in respect of intangible property
- Close sectionSchedule 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 sectionSchedule 5: Non-UK resident companies carrying on UK property businesses etc
- Close sectionSchedule 6: Diverted profits tax
- Close sectionSchedule 7: Payment of CGT exit charges
- Close sectionSchedule 8: Corporation tax exit charges
- Schedule 9: Intangible fixed assets: restrictions on goodwill and certain other assets
- Close sectionSchedule 10: Corporation tax relief for carried-forward losses
- Close sectionSchedule 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 sectionSchedule 12: Eliminating tax mismatch for certain debt
- Close sectionSchedule 13: Annual investment allowance: periods straddling 1 January 2019 or 1 April 2023
- Close sectionSchedule 14: Leases: changes to accounting standards etc
- Close sectionSchedule 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 sectionSchedule 16: Entrepreneurs' relief
- Schedule 17: VAT treatment of vouchers
- Close sectionSchedule 18: VAT groups: eligibility
- Close sectionSchedule 19: Gaming duty
- Close sectionSchedule 20: Taxation of hybrid capital instruments
- Close sectionFinance Act 2020
- Arrangement of sections
- Close sectionPart 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 sectionPart 2: Digital services tax [ss.39-72]
- Close sectionPart 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.83-88]
- Hydrocarbon oil duties [s.89]
- Air passenger duty [s.90]
- Gaming duty [s.91]
- Environmental taxes [ss.92-96]
- Import duty [s.97]
- Close sectionPart 4: Miscellaneous and final [ss.98-114]
- Close sectionSchedule 1: Workers' services provided through intermediaries
- Close sectionSchedule 2: The loan charge: consequential amendments
- Close sectionSchedule 3: Entrepreneurs' relief
- Close sectionSchedule 4: Corporate capital losses
- Close sectionSchedule 5: Structures and buildings allowances
- Close sectionSchedule 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 sectionSchedule 7: CT payment plans for tax on certain transactions with EEA residents
- Close sectionSchedule 8: Digital services tax: returns, enquiries, assessments and appeals
- Close sectionSchedule 9: DST payment notices
- Close sectionSchedule 10: Digital services tax: minor and consequential amendments
- Schedule 11: Private pleasure craft
- Schedule 12: ...
- Close sectionSchedule 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 sectionSchedule 14: Amendments relating to the operation of the GAAR
- Close sectionSchedule 15: Tax relief for scheme payments etc
- Close sectionSchedule 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 sectionFinance Act 2021
- Close sectionPart 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 sectionPart 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 sectionPart 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 sectionPart 4: Miscellaneous and final [ss.113-136]
- Close sectionSchedule 1: Small profits rate for non-ring fence profits
- Close sectionSchedule 2: Temporary extension of periods to which trade losses may be carried back
- Close sectionSchedule 3: R&D tax credits for SMEs
- Close sectionSchedule 4: R&D tax credits for SMEs: Northern Ireland companies
- Close sectionSchedule 5: Pension schemes: collective money purchase benefits
- Close sectionSchedule 6: Construction industry scheme: amendments
- Close sectionSchedule 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 sectionSchedule 8: Relief from corporation tax for losses and other amounts
- Close sectionSchedule 9: Plastic packaging tax: secondary liability and assessment notices and joint and several liability notices
- Close sectionSchedule 10: Plastic packaging tax: recovery and overpayments
- Close sectionSchedule 11: Plastic packaging tax: reviews and appeals
- Close sectionSchedule 12: Plastic packaging tax: information and evidence
- Close sectionSchedule 13: Plastic packaging tax: groups of companies
- Close sectionSchedule 14: Plastic packaging tax: assessment of penalties under section 80
- Close sectionSchedule 15: Plastic packaging tax: amendments of other legislation
- Close sectionSchedule 16: SDLT: increased rates for non-resident transactions
- Schedule 17: SDLT (relief from higher rate charge for certain housing co-operatives etc): minor and consequential amendments
- Close sectionSchedule 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 sectionSchedule 19: Deferring VAT payment by reason of the coronavirus emergency
- Close sectionSchedule 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 sectionSchedule 22: Capital allowances for freeport tax sites
- Schedule 23: Relief from stamp duty land tax for freeport tax sites
- Close sectionSchedule 24: Penalties for failure to make returns etc
- Close sectionSchedule 25: Penalties for deliberately withholding information
- Close sectionSchedule 26: Penalties for failure to pay tax
- Close sectionSchedule 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 sectionSchedule 28: Follower notice penalties
- Schedule 29: Late payment interest and repayment interest: VAT
- Close sectionSchedule 30: Amendments of Part 5 of FA 2014
- Close sectionSchedule 31: Small profits rate for non-ring fence profits
- Close sectionSchedule 32: The GAAR and partnerships
- Close sectionSchedule 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 sectionSchedule 34: Information powers: miscellaneous amendments
- Close sectionPart 1: Income tax, corporation tax and capital gains tax tax [ss.1-41]
- Close sectionFinance Act 2022
- Close sectionPART 1: Income tax, corporation tax and capital gains tax
- Close sectionPART 2: Residential property developer tax
- Close sectionPART 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 sectionPART 4: Public interest business protection tax
- Close sectionPART 5: Other taxes
- Close sectionPART 6: Miscellaneous and final
- SCHEDULES:
- Close sectionSCHEDULE 1: Abolition of basis periods
- Close sectionSCHEDULE 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 sectionSCHEDULE 3: Real Estate Investment Trusts
- Close sectionSCHEDULE 4: Cross-border group relief
- Close sectionSCHEDULE 5: Insurance contracts: change in accounting standards
- Close sectionSCHEDULE 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 sectionSCHEDULE 7: RPDT reliefs
- Close sectionSCHEDULE 8: Management of RPDT
- Close sectionSCHEDULE 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 sectionSCHEDULE 10: Public interest business protection tax
- Close sectionSCHEDULE 11: Restriction of use of rebated diesel and biofuels
- Close sectionSCHEDULE 12: Plastic packaging tax
- Close sectionSCHEDULE 13: Penalties for facilitating avoidance schemes involving non-resident promoters
- Close sectionSCHEDULE 14: Electronic sales suppression
- SCHEDULE 15: Treatment of goods in free zones
- Close sectionSCHEDULE 16: Freeport tax site reliefs: provision about regulations
- Close sectionSCHEDULE 17: Large businesses: notification of uncertain tax treatment
- Close sectionSCHEDULE 18: Vehicle CO2 emissions certificates
- Close sectionFinance Act 2023