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Finance Act 1985

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Part I — Customs and Excise and Value Added Tax

Chapter I — Customs and Excise

The rates of duty

Spirits, beer, wine, made-wine and cider

1

Tobacco products

2

Hydrocarbon oil

3

Vehicles excise duty

4

Other provisions

Blending of certain wines to constitute production of wine

5

(3A) For the purposes of this Act, the process of blending or otherwise mixing two or more wines (in this subsection referred to as “the constituent wines”) constitutes the production of wine if— (a) the rate of duty applicable to one of the constituent wines is different from that applicable to the other or, as the case may be, at least one of the others; and (b) the rate of duty applicable to the wine which is the product of the blending or other mixing is higher than that which is applicable to at least one of the constituent wines; and (c) the blending or other mixing is with a view to dealing wholesale in the wine is the product thereof; and for the purposes of this subsection the rate of duty applicable to any wine is that which is or would be chargeable under subsection (1) above on its importation into the United Kindgom or, as the case may be, on its production as mentioned in paragraph (b) of that subsection. (3B) Where, by virtue of subsection (3A) above, wine is produced in the United Kingdom, duty shall be chargeable on that wine by virtue of paragraph (b) of subsection (1) above whether or not duty was previously charged on all or any of the constituent wines by virtue of paragraph (a) or paragraph (b) of that subsection; but nothing in this subsection shall affect the operation of any regulations under section 56 below giving relief from duty on wine so produced by reference to duty charged on all or any of the constituent wines.

Miscellaneous amendments relating to spirits and beer

6

Hydrocarbon oil: mixing etc.

7

Gaming machine licence duty

8

Vehicles excise duty: fees

9

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Computer records etc.

10

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter II — Value Added Tax

Newspaper advertisements

Newspaper advertisements

11

Offences etc.

Offences and penalties in criminal proceedings

12

Civil penalties

Tax evasion: conduct involving dishonesty

13

Serious misdeclaration or neglect resulting in understatements or overclaims

14

Failures to notify and unauthorised issue of invoices

15

Breaches of walking possession agreements

16

Breaches of regulatory provisions

17

Interest, surcharges and supplements

Interest on tax etc. recovered or recoverable by assessment

18

The default surcharge

19

Repayment supplement in respect of certain delayed payments

20

Assessments, records and information

Assessment of amounts due by way of penalty, interest or surcharge

21

Assessments: time limits and supplementary assessments

22

Amendments of Schedule 7 to the principal Act

23

Appeals

Amendments of section 40 of the principal Act

24

Settling appeals by agreement

25

Certain appeals to lie directly to the Court of Appeal

26

Procedural rules governing appeals

27

Miscellaneous

Penalty for failure to comply with directions etc. of tribunal

28

Enforcement of certain decisions of tribunal

29

Appointments to and administration of tribunals

30

Insolvency

31

Refund of tax in cases of bad debts

32

Interpretation and construction of Chapter II

33

Part II — Income Tax, Corporation Tax and Capital Gains Tax

Chapter I — General

Charge of income tax for 1985-86

34

Rate of advance corporation tax for financial year 1985

35

The rate of advance corporation tax for the financial year 1985 shall be three-sevenths.

Personal reliefs

36

Relief for interest

37

(a) the loan is made on or after 6th April 1987 ; or (b)

.

Interest paid on deposits with banks etc.

38

(2) An order under sub-paragraph (1)(f) above may prescribe a person or class of person in relation to all relevant deposits or only in relation to relevant deposits of a kind specified in the order

.

(ad) in Scotland, the person who is so entitled is a partnership all the partners of which are individuals ; or

.

(dd) it is a general client account deposit; (ddd) it forms part of a premiums trust fund (within the meaning of paragraph 16 of Schedule 10 to the Taxes Act) of an underwriting member of Lloyd's

.

(4A) A declaration under sub-paragraph (3)(h) shall be in such form as may be prescribed or authorised, and; contain such information as may reasonably be required, by the Board

.

  • ' general client account deposit' means a deposit, held by the deposit-taker in a client account (other than one which is identified by the deposit-taker as one in which sums are held only for one or more particular clients of the person whose account it is) in respect of which that person is required by provision made under any enactment to make payments representing interest to some or all of the clients for whom, or on whose account, he received the sums deposited in the account

.

(3A) (1) The Treasury may by order made by statutory instrument make amendments in this Schedule providing for deposits of a kind specified in the order to be or, as the case may be, not to be relevant deposits in relation to all deposit-takers or such deposit-takers or classes of deposit-taker as may be so specified. (2) The Board may by regulations made by statutory instrument make provision— (a) requiring any declaration under paragraph 3 (3)(h)(ii) above which does not give the address of the person making it, to be supported by a certificate given by the deposit-taker concerned— (i) in such form as may be prescribed or authorised by the Board ; and (ii) containing such information as may reasonably be required by the Board ; and (b) generally for giving effect to the principal section and this Schedule. (3) Any order or regulations made under this paragraph may contain such incidental and consequential provision as appears to the Treasury or, as the case may be, Board to be appropriate. (4) A statutory instrument made in the exercise of the power conferred by this paragraph shall be subject to annulment in pursuance of a resolution of the Commons House of Parliament.

Group relief: modifications

39

Building societies

40

(1A) The Board may by regulations made by statutory instrument make provision with respect to the year 1986-87 and any subsequent year of assessment requiring building societies, on such sums as may be determined in accordance with the regulations, to account for and pay an amount representing income tax calculated in part at the basic rate and in part at the reduced rate determined for the year of assessment concerned under section 26(1)(a) of the Finance Act 1984; and any such regulations may contain such incidental and consequential provisions as appear to the Board to be appropriate, including provisions requiring the making of returns. (1B) A statutory instrument made in the exercise of the power conferred by subsection (1A) above shall be subject to annulment in pursuance of a resolution of the Commons House of Parliament.

Friendly societies

41

(2A) In applying the limits in this section in accordance with section 73(6)(b) of the Finance Act 1984 (that is to say, in relation to the aggregate of the benefits secured by contracts made after 13th March 1984 and those secured by contracts made on or before that day), any contract for an annuity which was made before 1st June 1984 by a new society, as defined in section 337(3) of the Income and Corporation Taxes Act 1970, shall be regarded not only as a contract for the annual amount concerned but also as a contract for the assurance of a gross sum equal to 75 per cent, of the total premiums which would be payable under the contract if it were to run for its full term or, as the case may be, if the member concerned were to die at the age of seventy-five years. (2B) If, on or after 19th March 1985, a person becomes in breach of the limits in this section, the policy effected by that contract which causes those limits to be exceeded shall not be a qualifying policy, within the meaning of Part I of Schedule 1 to the Income and Corporation Taxes Act 1970; and in any case where— (a) the limits in this section are exceeded as a result of the aggregation of the sums assured under two or more contracts, and (b) at a time immediately before one of those contracts was entered into (but not immediately after it was entered into) the sums assured by the contract or contracts which were then in existence did not exceed the limits in this section, only those policies effected by contracts made after that time shall be treated as causing the limits to be exceeded.

and in consequence of paragraph (b) above, section 55 of the Friendly Societies Act (Northern Ireland) 1970 shall cease to have effect.

section 7(3) of the Friendly Societies Act 1974 (societies not entitled to registration if in breach of the statutory limits) shall not apply and for paragraph 3 of Schedule 1 to the Taxes Act (qualifying friendly society policies) there shall be substituted the paragraphs set out in Part I of Schedule 10 to this Act.

as is attributable to a policy which, by virtue of section 64(2B) of the Friendly Societies Act 1974,— (a) is not a qualifying policy ; and (b) would not be a qualifying policy if all policies with other friendly societies were left out of account

; and

and (d) may make provision for the waiver of premiums by reason of a person's disability.

(a) sections 332 to 336 above and the following provisions of this section, (b) paragraphs 3 and 3A of Schedule 1 to this Act, and (c) section 41 of and Parts II and III of Schedule 10 to the Finance Act 1985

;

(a) shall not include the issue of a policy affording provision for sickness or other infirmity (whether bodily or mental) unless— (i) it also affords assurance for a gross sum independent of sickness or other infirmity; and (ii) not less than sixty per cent, of the amount of the premiums is attributable to the provision afforded during sickness or other infirmity ; and (iii) there is no bonus or addition which may be declared or accrue upon the assurance of the gross sum

;

  • ' new society ' means a friendly society which was registered after 3rd May 1966 or which was registered in the period of three months ending on that date but which at no time earlier than that date carried on any life or endowment business

;

and after the words " said provisions " there shall be inserted " (including this subsection)";

and this subsection has effect with respect to business carried on on or after 19th March 1985 except that paragraphs (d) and (e) above also have effect with respect to business carried on on or after 1st June 1984.

Relief for Class 4 contributions

42

and (f) section 42 of the Finance Act 1985 (relief for Class 4 contributions).

Business entertaining expenses

43

Business expansion scheme

44

(2A) (1) Where eligible shares in a company are issued for the purpose of enabling the company to raise money— (a) for research and development from which it intends to derive a qualifying trade which it will carry on; or (b) both for any such research and development and for the resulting trade; paragraph 2 above shall apply in relation to the company with the modifications set out in this paragraph. (2) For paragraph (b) of sub-paragraph (1) there shall be substituted— (b) those shares are issued to him for the purpose of raising money— (i) for research and development which is being carried on at the time when the shares are issued, or begins immediately thereafter, and from which the company intends to derive a qualifying trade which will be carried on by it; or (ii) both for any such research and development and the resulting trade. (3) For sub-paragraph (4) there shall be substituted the following— (4) The relief shall be given on a claim and shall not be allowed unless and until the company has carried on the research and development for four months. (4) In sub-paragraph (5), for the word ' trade ' there shall be substituted the words ' research and development'. (5) In sub-paragraph (7)(b), for the words from 'either' to the end there shall be substituted the words 'three years after that date'.

(2AA) A trade shall not be treated as failing to comply with this paragraph by reason only that at any time after 19th March 1985 it consists to a substantial extent of receiving royalties or licence fees if— (a) the company carrying on the trade is engaged in research and development throughout the relevant period; and (b) all royalties and licence fees received by it in that period are attributable to research and development which it has carried out.

  • ' property development' means the development of land, by a company which has, or at any time has had, an interest in the land, with the sole or main object of realising a gain from disposing of the land when developed ;
  • ' interest in land ' means any estate or interest in land, any right in or over land or affecting the use or disposition of land, and any right to obtain such an estate, interest or right from another which is conditional on that other's ability to grant the estate, interest or right in question, except that it does not include— the interest of a creditor (other than a creditor in respect of a rentcharge) whose debt is secured by way of a mortgage, an agreement for a mortgage or a charge of any kind over land ; or in Scotland, the interest of a creditor in a charge or security of any kind over land.
  • ' research and development' means any activity which is intended to result in a patentable invention (within the meaning of the Patents Act 1977) or in a computer program.

Profit sharing schemes

45

Deep discount securities

46

Schedule 11 to this Act (deep discount securities) shall have effect in relation to any deep discount security issued on or after 19th March 1985; and " deep discount security" and " issued " have the same meanings here as in that Schedule.

Partnerships: basis of assessment

47

(116) The computation of the profits or gains chargeable to income tax under Case I or Case II of Schedule D for the year of assessment in which the new trade, profession or vocation is treated as having been set up and commenced, and for each of the three years of assessment following that year of assessment, shall be made on the full amount of the profits or gains arising in the year of assessment in question.

Limited partners: restriction of reliefs

48

begins after 19th March 1985.

and it is immaterial whether or not he was carrying on the trade otherwise than as a limited partner on or before that date.

Covenanted payments to charity: increase of exemption from excess tax liability

49

Agents acting for non-residents

50

Offshore life assurance: chargeable events

51

London Regional Transport: tax losses

52

In computing for the purposes of corporation tax the profit or loss of London Regional Transport for any accounting period beginning on or after 1st April 1985, the loss of the London Transport Executive for any earlier accounting period shall be computed as if section 16(1)(b) of the Finance Act 1970 (grants to the Executive to be left out of account in computing profits chargeable to corporation tax) had not been enacted.

Valuation for corporation and income tax purposes of oil appropriated in certain circumstances

53

(4A) If a person appropriates oil acquired by him in the course of oil extraction activities carried on by him or by virtue of oil rights held by him and the appropriation is to refining or to any use except for production purposes of an oil field, within the meaning of Part I of this Act, then, unless subsection (2) above applies, for all purposes of income tax and for the purposes of the charge of corporation tax on income,— (a) he shall be treated as having, at the time of the appropriation, sold and bought the oil as mentioned in sub-paragraphs (i) and (ii) of that subsection; and (b) that sale and purchase shall be deemed to have been at a price equal to the market value of the oil at the material time in the calendar month in which it was appropriated.

Withdrawal of right of certain non-resident companies to payment of tax credits

54

(4) A company shall be treated as having a qualifying presence in a unitary state if it is subject to tax in such a state for any period ending after the relevant date for which that state charges tax. (5) For the purposes of subsection (4) above a company shall be regarded as subject to tax in a unitary state if it is liable there to a tax charged on its income or profits by whatever name called and shall be treated as so charged unless it proves otherwise to the satisfaction of the Board

or the following provisions—

(4) A company shall be treated as having a qualifying presence in a unitary state if it has its principal place of business in such a state at any time after the relevant date. (5) For the purposes of subsection (4) above— (a) a company shall be treated as having its principal place of business in a unitary state unless it proves otherwise to the satisfaction of the Board, and (b) the principal place of business of a company shall include both the place where the central management and control of the company is exercised and the place where the immediate day-to-day management of the company as a whole is exercised.

Chapter II — Capital Allowances

Capital allowances in respect of machinery and plant: the revised code

55

Time when capital expenditure is incurred

56

then, in a case where the obligation referred to in paragraph (a) above becomes unconditional within the period of one month beginning at the end of a chargeable period or its basis period but the time referred to in paragraph (b) above falls at or before the end of that chargeable period or its basis period, subsection (2) above shall apply as if the obligation became unconditional immediately before the expiry of that period.

then, in relation to that amount of expenditure, subsection (2) above shall have effect as if, for the words from " on which " onwards mere were substituted " on or before which it is required to be paid " ; and, accordingly, subsection (4) above shall be disregarded.

Election for certain machinery or plant to be treated as short-life assets

57

and any machinery or plant to which an election under this section applies is in the following provisions of this section referred to as a " short-life asset".

and if different parts of the capital expenditure are incurred at different times, only that part of the expenditure which is first incurred shall be taken into account for the purposes of paragraph (c) above.

Allowances for ships

58

Entitlement to allowances for machinery and plant which are fixtures

59

and (b) the machinery or plant is not so installed or otherwise fixed in or to a building or any other description of land as to become, in law, part of that building or other land, then, if the machinery or plant would not otherwise belong to him

.

Carry-back by companies of losses referable to capital allowances

60

Dredging

61

Agricultural land and buildings

62

section 68 of the Capital Allowances Act 1968 (allowances for capital expenditure relating to agricultural land and buildings etc.) shall be amended in accordance with subsections (2) and (3) below.

Allowances for capital expenditure on scientific research

63

(1A) No allowance shall be made under subsection (1) above in respect of expenditure on the acquisition of, or of rights in or over, any land except in so far as, on a just apportionment, that expenditure is referable to the acquisition of, or of rights in or over, or of machinery or plant which forms part of, a building or other structure already constructed on that land. (1B) For the purposes of this section, expenditure on the provision of a dwelling is not scientific research expenditure ; but where part of a building is used for scientific research and part consists of a dwelling and the capital expenditure which it is just to apportion to the construction or acquisition of the dwelling is not more than one quarter of the capital expenditure which is referable to the construction or acquisition of the whole building, the whole of the building shall be treated for the purposes of this Part of this Act as used for scientific research.

(3A) For the purposes of this section the disposal value of an asset depends upon the nature of the relevant event, and— (a) if that event is the actual sale of the asset at a price not lower than that which it would have fetched if sold in the open market, equals the proceeds of that sale; (b) if that event is the deemed sale of the asset under subsection (4) below, equals the deemed proceeds of sale under that subsection ; and (c) in any other event, equals the price which the asset would have fetched if sold in the open market.

Writing-down allowances for expenditure on patent rights

64

Writing-down allowances for acquisition of know-how

65

Hotels

66

Chapter III — Capital Gains

Exemption for gilt-edged securities and qualifying corporate bonds

67

Modification of indexation allowance

68

Relief for disposals by individuals on retirement from family business

69

Relief for other disposals associated with retirement

70

Assets disposed of in a series of transactions

71

Commodity and financial futures and traded options

72

Chapter IV — Securities

The accrued income scheme

Deemed sums and reliefs on transfers

73

Treatment of deemed sums and reliefs

74

Exceptions from preceding provisions

75

but the provisions in this subsection relating to the situation of the securities in the United Kingdom do not apply where the person concerned is a company.

Deemed interest on certain securities

Deemed interest

76

Schedule 22 to this Act (which relates to securities held between certain dates) shall have effect.

Further provisions

Further provisions

77

Schedule 23 to this Act (which contains provisions relating to interpretation and other matters) shall have effect.

Part III — Stamp Duty

Takeovers

78

Voluntary winding-up: transfer of shares

79

Takeovers and winding-up: modifications

80

Renounceable letters of allotment etc.

81

Gifts inter vivos

82

Transfers in connection with divorce etc.

83

Death: varying dispositions, and appropriations

84

Repeal of certain fixed duties

85

Abolition of duty on contract notes

86

Certificates

87

Exchange rates

88

Section 12 of the Finance Act 1899 (fixed exchange rate for foreign currency) shall not apply to instruments executed on or after 1st August 1985, and section 6 of the Stamp Act 1891 (exchange rate at date of instrument) shall apply to instruments to which section 12 of the 1899 Act would apply if this Act had not been passed.

Exemption from section 28 of Finance Act 1931

89

Part IV — Oil Taxation

Limitations on relief for exploration and appraisal expenditure

90

(2A) Any reference in subsection (2) above to a designated area does not include a sector which, by virtue of subsection (3)(b) of section 107 of the Finance Act 1980 (transmedian fields), is deemed to be a designated area

(i) includes a reference to a sum received, or treated by virtue of subsection (5A) below as received, from the disposal of oil won in the course of operations carried out for any of the purposes in paragraphs (a) to (c) of subsection (2) of this section; but (ii) does not include a reference to a sum received for the assignment of any of the rights conferred by a licence or of any interest in a licensed area

(5A) Subsection (5B) below applies in any case where— (a) oil which is won as mentioned in paragraph (c)(i) of subsection (5) above is either disposed of otherwise than in sales at arm’s length or appropriated to refining or to any use except for production purposes of an oil field, and (b) if that oil had been disposed of in a sale at arm’s length, then, by virtue of section 5(6) of this Act as applied by subsection (5) above, certain expenditure would have been reduced by reference to the receipt of a sum from that disposal. (5B) Where this subsection applies, the oil concerned shall be treated for the purposes of subsection (5)(c)(i) above and section 5(6) of this Act as having been disposed of for a sum equal to its market value at the material time in the calendar month in which it was disposed of or appropriated as mentioned in subsection (5A)(a) above and, accordingly, for those purposes— (a) a sum equal to that market value shall be treated as having been received from that disposal; and (b) no account shall be taken of any sum actually received from the disposal of any of that oil. (5C) In the application of Schedule 3 to this Act for the purpose of ascertaining the market value of oil as mentioned in subsection (5B) above,— (a) in paragraph 2, in paragraph (c) of sub-paragraph (2) for the words from the beginning to “paragraph in question” there shall be substituted “the contract is for the sale of the whole quantity of oil whose market value falls to be ascertained for the purposes of section 5A(5B) of this Act”; (b) sub-paragraph (3) and (4) of paragraph 2 shall be omitted; and (c) any reference in paragraphs 2 and 2A to oil being relevantly appropriated shall be construed as a reference to its being appropriated as mentioned in subsection (5A)(a) above

Chargeable periods relevant to limit on tax payable and expenditure supplement

91

which is the earliest chargeable period ending after a development decision has been made for the field in which— (a) the amount of oil won and saved from the field exceeds 1,000 metric tonnes (counting 1,100 cubic metres of gas at a temperature of 15 degrees centigrade and pressure of one atmosphere as equivalent to one metric tonne); and (b) a net profit from the field accrues to the participator; and subsection (7) of section 5A of the principal Act (time when development decision is made) shall apply for the purposes of this subsection as it applies for the purposes of subsection (1)(c) of that section.

Qualifying assets: exclusion of land and certain buildings

92

(1A) Notwithstanding anything in subsection (1) above, the following assets are not qualifying assets for the purposes of this Act, namely,— (a) land or an interest in land; and (b) a building or structure which is situated on land and which does not fall within any of sub-paragraphs (i) to (iv) of paragraph (c) of subsection (4) of section 3 of the principal Act.

(2A) In any case where this paragraph applies, paragraph (b) of subsection (1A) of section 8 of this Act shall have effect in relation to the participator as if— (a) for the words “does not” there were substituted “would not”; and (b) at the end there were added the words “even if section 10(2) of the principal Act were disregarded”

Part V — Miscellaneous and Supplementary

Abolition of development land tax and tax on development gains

93

that amount of tax shall be remitted with effect from that date.

Capital transfer tax: conditional exemption

94

The national heritage: transfer of Treasury functions to Board

95

and the corresponding functions of the Treasury under any earlier enactments relating to capital transfer tax or estate duty, are hereby transferred to the Commissioners of Inland Revenue (“the Board”).

European Communities and Investment Bank: exemptions

96

(4) The Treasury may, by order made by statutory instrument, designate any of the European Union or the European Investment Bank for the purposes of this section, and references in subsections (2) and (3) above to an organisation designated for the purposes of this section include references to a body so designated by virtue of this sub-section. (5) Subsection (3) above, as it applies by virtue of subsection (4) above, shall be read as if the words “under the heading “Bearer Instrument” in Schedule 1 to the Stamp Act 1891” were omitted.

Extension of Provisional Collection of Taxes Act 1968 to reduced and composite rates

97

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Short title, interpretation, construction and repeals

98

SCHEDULE 1

SCHEDULE 2

Part I — Provisions Substituted in Part II of Schedules 1 to 5 to the Vehicles (Excise) Act 1971 and the Vehicles (Excise) Act (Northern Ireland) 1972

1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

The following are the provisions substituted in the Act of 1971 and the Act of 1972 for Part II of Schedule 4—

Plated gross weight of vehicle Plated gross weight of vehicle Rate of duty Rate of duty Rate of duty
1. 2. 3. 4. 5.
Exceeding Not exceeding Two axle vehicle Three axle vehicle Four or more axle vehicle
tonnes tonnes £ £ £
12 13 410.00 320.00 320.00
13 14 570.00 340.00 340.00
14 15 740.00 340.00 340.00
15 17 1,030.00 340.00 340.00
17 19 — 490.00 340.00
19 21 — 660.00 340.00
21 23 — 900.00 490.00
23 25 — 1,610.00 690.00
25 27 — — 1,000.00
27 29 — — 1,470.00
29 30.49 — — 2,420.00
Plated gross weight of vehicle Plated gross weight of vehicle Rate of duty Rate of duty Rate of duty
--- --- --- --- ---
1. 2. 3. 4. 5.
Exceeding Not exceeding Two axle vehicle Three axle vehicle Four or more axle vehicle
tonnes tonnes £ £ £
12 13 175.00 145.00 145.00
13 14 215.00 150.00 150.00
14 15 255.00 150.00 150.00
15 17 335.00 160.00 150.00
17 19 — 190.00 150.00
19 21 — 240.00 160.00
21 23 — 295.00 195.00
23 25 — 475.00 245.00
25 27 — — 325.00
27 29 — — 445.00
29 30-49 — — 725.00
Plated gross weight of vehicle Plated gross weight of vehicle Rate of duty Rate of duty Rate of duty
--- --- --- --- ---
1. 2. 3. 4. 5.
Exceeding Not exceeding Two axle vehicle Three axle vehicle Four or more axle vehicle
tonnes tonnes £ £ £
12 13 105.00 90.00 90.00
13 14 145.00 90.00 90.00
14 15 185.00 90.00 90.00
15 17 260.00 90.00 90.00
17 19 — 125.00 90.00
19 21 — 165.00 90.00
21 23 — 225.00 125.00
23 25 — 405.00 175.00
25 27 — — 250.00
27 29 — — 370.00
29 30-49 — — 605.00
Gross weight of trailer Gross weight of trailer Duty supplement
--- --- --- ---
Exceeding Not exceeding Duty supplement
tonnes tonnes £
4 8 80.00
8 10 100.00
10 12 130.00
12 14 180.00
14 — 355.00
Gross weight of trailer Gross weight of trailer Duty supplement
--- --- --- ---
Exceeding Not exceeding Duty supplement
tonnes tonnes £
4 8 80.00
8 10 100.00
10 12 130.00
12 14 180.00
14 — 355.00
Gross weight of trailer Gross weight of trailer Duty supplement
--- --- --- ---
Exceeding Not exceeding Duty supplement
tonnes tonnes £
— — 80.00
Plated train weight of tractor unit Plated train weight of tractor unit Rate of duty Rate of duty Rate of duty
--- --- --- --- ---
1. 2. 3. 4. 5.
Exceeding Not exceeding For a tractor unit to be used with semitrailers with any number of axles For a tractor unit to be used only with semi-trailers with not less than two axles For a tractor unit to be used only with semitrailers with not less than three axles
tonnes tonnes £ £ £
12 14 470.00 420.00 420.00
14 16 590.00 440.00 440.00
16 18 690.00 440.00 440.00
18 20 810.00 440.00 440.00
20 22 940.00 550.00 440.00
22 23 1,000.00 620.00 440.00
23 25 1,150.00 780.00 440.00
25 26 1,150.00 870.00 530.00
26 28 1,150.00 1,090.00 720.00
28 29 1,210.00 1,210.00 820.00
29 31 1,680.00 1,680.00 1,050.00
31 33 2,450.00 2,450.00 1,680.00
33 34 2,450.00 2,450.00 2,250.00
34 36 2,750.00 2,750.00 2,750.00
36 38 3,100.00 3,100.00 3,100.00
Plated train weight of tractor unit Plated train weight of tractor unit Rate of duty Rate of duty Rate of duty
--- --- --- --- ---
1. 2. 3. 4. 5.
Exceeding Not exceeding For a tractor unit to be used with semitrailers with any number of axles For a tractor unit to be used only with semi-trailers with not less than two axles For a tractor unit to be used only with semitrailers with not less than three axles
tonnes tonnes £ £ £
12 14 190.00 175.00 175.00
14 16 225.00 180.00 180.00
16 18 250.00 180.00 180.00
18 20 280.00 180.00 180.00
20 22 310.00 205.00 180.00
22 23 325.00 225.00 180.00
23 25 370.00 265.00 185.00
25 26 370.00 285.00 210.00
26 28 370.00 345.00 260.00
28 29 380.00 380.00 285.00
29 31 525.00 525.00 355.00
31 33 755.00 755.00 550.00
33 34 990.00 990.00 950.00
34 36 1,155.00 1,155.00 1,155.00
36 38 1,300.00 1,300.00 1,300.00
Plated train weight of tractor unit Plated train weight of tractor unit Rate of duty Rate of duty Rate of duty
--- --- --- --- ---
1. 2. 3. 4. 5.
Exceeding Not exceeding For a tractor unit to be used with semitrailers with any number of axles For a tractor unit to be used only with semi-trailers with not less than two axles For a tractor unit to be used only with semitrailers with not less than three axles
tonnes tonnes £ £ £
12 14 120.00 105.00 105.00
14 16 150.00 110.00 110.00
16 18 175.00 110.00 110.00
18 20 205.00 110.00 110.00
20 22 235.00 140.00 110.00
22 23 250.00 155.00 110.00
23 25 290.00 195.00 110.00
25 26 290.00 220.00 135.00
26 28 290.00 275.00 180.00
28 29 305.00 305.00 205.00
29 31 420.00 420.00 265.00
31 33 615.00 615.00 420.00
33 34 615.00 615.00 565.00
34 36 690.00 690.00 690.00
36 38 775.00 775.00 775.00
Plated train weight of tractor unit Plated train weight of tractor unit Rate of duty Rate of duty Rate of duty
--- --- --- --- ---
1. 2. 3. 4. 5.
Exceeding Not exceeding For a tractor unit to be used with semitrailers with any number of axles For a tractor unit to be used only with semi-trailers with not less than two axles For a tractor unit to be used only with semitrailers with not less than three axles
tonnes tonnes £ £ £
12 14 420.00 420.00 420.00
14 20 440.00 440.00 440.00
20 22 550.00 440.00 440.00
22 23 620.00 440.00 440.00
23 25 780.00 440.00 440.00
25 26 870.00 440.00 440.00
26 28 1,090.00 440.00 440.00
28 29 1,210.00 520.00 440.00
29 31 1,680.00 640.00 446.00
31 33 2,450.00 970.00 440.00
33 34 2,450.00 1,420.00 550.00
34 36 2,450.00 2,030.00 830.00
36 38 2,730.00 2,730.00 1,240.00
Plated train weight of tractor unit Plated train weight of tractor unit Rate of duty Rate of duty Rate of duty
--- --- --- --- ---
1. 2. 3. 4. 5.
Exceeding Not exceeding For a tractor unit to be used with semitrailers with any number of axles For a tractor unit to be used only with semi-trailers with not less than two axles For a tractor unit to be used only with semitrailers with not less than three axles
tonnes tonnes £ £ £
12 14 175.00 175.00 175.00
14 20 180.00 180.00 180.00
20 22 205.00 180.00 180.00
22 23 225.00 180.00 180.00
23 25 265.00 180.00 180.00
25 26 285.00 185.00 180.00
26 28 345.00 200.00 190.00
28 29 380.00 225.00 200.00
29 31 525.00 270.00 220.00
31 33 755.00 405.00 240.00
33 34 805.00 595.00 300.00
34 36 935.00 855.00 455.00
36 38 1,145.00 1,145.00 680.00
Plated train weight of tractor unit Plated train weight of tractor unit Rate of duty Rate of duty Rate of duty
--- --- --- --- ---
1. 2. 3. 4. 5.
Exceeding Not exceeding For a tractor unit to be used with semitrailers with any number of axles For a tractor unit to be used only with semi-trailers with not less than two axles For a tractor unit to be used only with semitrailers with not less than three axles
tonnes tonnes £ £ £
12 14 105.00 105.00 105.00
14 18 110.00 110.00 110.00
18 20 110.00 110.00 110.00
20 22 140.00 110.00 110.00
22 23 155.00 110.00 110.00
23 25 195.00 110.00 110.00
25 26 220.00 110.00 110.00
26 28 275.00 110.00 110.00
28 29 305.00 130.00 110.00
29 31 420.00 160.00 110.00
31 33 615.00 245.00 110.00
33 34 615.00 355.00 140.00
34 36 615.00 510.00 210.00
36 38 685.00 685.00 310.00
5

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part II — Amendment of Part I of Schedule 4 to the Vehicles (Excise) Act 1971 and the Vehicles (Excise) Act (Northern Ireland) 1972

6

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 3

Manufacture of spirits during the recovery of beer

1

In section 13 (regulations and directions relating to manufacture of spirits) after subsection (2) there shall be inserted the following subsection—

(2A) If the Commissioners so direct, spirits manufactured by a process to which a direction under subsection (2) above applies shall be treated as not being within the charge of duty on spirits under section 5 above.

Spirits: attenuation charge

2

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Determination of beer duty

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Restrictions on adding substances to beer

4

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 4

1

The following shall be substituted for section 20 of the Hydrocarbon Oil Duties Act 1979 (contaminated or accidentally mixed oil)—

(20) (1) This section applies where it is shown to the satisfaction of the Commissioners— (a) that hydrocarbon oil has been delivered for home use, that since it was so delivered it has become contaminated, and that at the time it became contaminated it was oil on which the appropriate duty of excise had been paid, or (b) that hydrocarbon oils of different descriptions have been delivered for home use, that since they were so delivered they have become accidentally mixed with each other, and that at the time of mixing they were oils on which the appropriate duty of excise had been paid. (2) Subject to any conditions which the Commissioners see fit to impose for the protection of the revenue, they may make to such person as they see fit a payment in accordance with subsection (3) below. (3) The payment shall be of an amount appearing to the Commissioners to be equal to the excise duty which would have been payable if— (a) the oil had been delivered for home use (uncontaminated) at the time it became contaminated (where subsection (1)(a) above applies), or (b) the oils had been delivered for home use (unmixed) at the time they became mixed (where subsection (1)(b) above applies).

2

The following shall be inserted after section 20 of that Act (as substituted by paragraph 1 above)—

(20A) (1) In this section “new oil” means hydrocarbon oil which after it has been charged under section 6 above as oil of one description becomes oil of a different description as a result of approved mixing in a pipeline with other hydrocarbon oil which has been so charged; and “approved mixing” has the meaning given by subsection (5) below. (2) Where the Commissioners are of opinion that, if the new oil had fallen to be charged under section 6 above as oil of the different description, the amount of duty would have been greater or less than that actually charged, then— (a) if in their opinion the amount would have been greater, they may charge under this section a duty of excise on the oil of an amount equal to the difference, and (b) if in their opinion the amount would have been less, they may make under this section an allowance equal to the difference. (3) In determining the amount of duty which would have been charged if the new oil had fallen to be charged under section 6 above as oil of the different description, the rates to be applied are those effective at the time when in the Commissioners’ opinion the oil became oil of the different description. (4) Where the Commissioners have made a charge or allowance under subsection (2) above, then, for the purposes of this Act, any relief or rebate which was permitted or allowed at the time of the charge under section 6 above shall be disregarded. (5) The Commissioners may make regulations— (a) enabling them to grant to persons (whether individually or of a specified class) permission to mix in a pipeline different descriptions of hydrocarbon oil (whether generally or in the case of specified descriptions only) and to withdraw permission for reasonable cause; (b) enabling permission to be granted subject to conditions and conditions to be varied for reasonable cause, and in this section “approved mixing” means mixing in accordance with permission under the regulations. (6) The Commissioners may make regulations— (a) for prescribing the method of charging the duty under this section; (b) for determining the form of the allowance under this section (which may be by way of repayment or otherwise) and the time the allowance may be made. (7) Regulations under this section may make different provision for different circumstances.

3

In section 27(3) of that Act (expressions have meanings given by certain other Acts), in the list of expressions defined in the Management Act, after the entry relating to “officer” and “proper” there shall be inserted “pipeline”.

4

In paragraph 11 of Schedule 3 to that Act (securing and collecting duty on oil produced in the United Kingdom) the words “produced in the United Kingdom” shall cease to have effect.

SCHEDULE 5

Part I — Amendments of Betting and Gaming Duties Act 1981

1
2

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

(2) For the purposes of this Act a gaming machine is a smallprize machine if the value or aggregate value of the benefits in money or money’s worth, which any player who is successful in a single game played by means of the machine may receive, cannot exceed £3. (3) The Commissioners may by order substitute for the sum for the time being mentioned in subsection (2) above such higher sum as may be specified in the order, with effect from a date so specified.

4
5

In section 24(5) (provision of gaming machine in contravention of restrictions) for the words “a penalty of £500” there shall be substituted “a penalty of level 5 on the standard scale.”

6

In section 26(2) (interpretation of provisions relating to gaming machine licence duty), for the entry relating to Great Britain there shall be substituted the following entries—

”United Kingdom’ includes the territorial waters of the United Kingdom; “small prize machine” has the meaning given by section 22(2) above.

7

In section 33(1) (general interpretation provisions) at the end of the definition of “the prescribed sum” there shall be inserted the words

and (c) if the offence was committed in Northern Ireland, the prescribed sum within the meaning of Article 4 of the Fines and Penalties (Northern Ireland) Order 1984.

8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9

Part II — Extension to Northern Ireland of Certain Subordinate Legislation

10

Any orders or regulations made under any provision of Schedule 4 to the Betting and Gaming Duties Act 1981, in so far as they have effect immediately before 1st August 1985, shall have effect on and after that day in relation to Northern Ireland as if—

SCHEDULE 6

SCHEDULE 7

1

(6A) In any case where,— (a) as a result of a person’s failure to make a return for a prescribed accounting period, the Commissioners have made an assessment under subparagraph (1) above for that period, and (b) the tax assessed has been paid but no proper return has been made for the period to which the assessment related, and (c) as a result of a failure to make a return for a later prescribed accounting period, being a failure by the person referred to in paragraph (a) above or a person acting in a representative capacity in relation to him, as mentioned in subparagraph (4) above, the Commissioners find it necessary to make another assessment under subparagraph (1) above, then, if the Commissioners think fit, having regard to the failure referred to in paragraph (a) above, they may specify in the assessment referred to in paragraph (c) above an amount of tax greater than that which they would otherwise have considered to be appropriate.

2

In paragraph 7(2) (records to be preserved for a period not exceeding three years) for “three” there shall be substituted “six”.

3

(2) Every person who is concerned (in whatever capacity) in the supply of goods or services in the course or furtherance of a business or to whom such a supply is made and every person who is concerned (in whatever capacity) in the importation of goods in the course or furtherance of a business shall— (a) furnish to the Commissioners, within such time and in such form as they may reasonably require, such information relating to the goods or services or to the supply or importation as the Commissioners may reasonably specify; and (b) upon demand made by an authorised person, produce or cause to be produced for inspection by that person,— (i) at the principal place of business of the person upon whom the demand is made or at such other place as the authorised person may reasonably require, and (ii) at such time as the authorised person may reasonably require, any documents relating to the goods or services or to the supply or importation. (3) Where, by virtue of subparagraph (2) above, an authorised person has power to require the production of any documents from any such person as is referred to in that subparagraph, he shall have the like power to require production of the documents concerned from any other person who appears to the authorised person to be in possession of them; but where any such other person claims a lien on any document produced by him, the production shall be without prejudice to the lien.

(4A) An authorised person may take copies of, or make extracts from, any document produced under subparagraph (2) or subparagraph (3) above. (4B) If it appears to him to be necessary to do so, an authorised person may, at a reasonable time and for a reasonable period, remove any document produced under subparagraph (2) or subparagraph (3) above and shall, on request, provide a receipt for any document so removed; and where a lien is claimed on a document produced under subparagraph (3) above, the removal of the document under this subparagraph shall not be regarded as breaking the lien. (4C) Where a document removed by an authorised person under subparagraph (4B) above is reasonably required for the proper conduct of a business he shall, as soon as practicable, provide a copy of the document, free of charge, to the person by whom it was produced or caused to be produced.

4

After paragraph 9 there shall be inserted the following paragraph

(9A) An authorised person may at any reasonable time require a person making such a supply as is referred to in subsection (1) of section 13 of this Act or any person acting on his behalf— (a) to open any gaming machine, within the meaning of that section; and (b) to carry out any other operation which may be necessary to enable the authorised person to ascertain the amount which, in accordance with subsection (2) of that section, is to be taken as the value of supplies made in the circumstances mentioned in subsection (1) of that section in any period.

5

(4) In subparagraph (3) above ”a fraud offence’ means an offence under any provision of subsections (1) to (3) of section 39 of this Act. (5) The powers conferred by a warrant under this paragraph shall not be exercisable— (a) by more than such number of authorised persons as may be specified in the warrant; nor (b) outside such times of day as may be so specified; nor (c) if the warrant so provides, otherwise than in the presence of a constable in uniform. (6) An authorised person seeking to exercise the powers conferred by a warrant under this paragraph or, if there is more than one such authorised person, that one of them who is in charge of the search shall provide a copy of the warrant endorsed with his name as follows:— (a) if the occupier of the premises concerned is present at the time the search is to begin, the copy shall be supplied to the occupier; (b) if at that time the occupier is not present but a person who appears to the authorised person to be in charge of the premises is present, the copy shall be supplied to that person; and (c) if neither paragraph (a) nor paragraph (b) above applies, the copy shall be left in a prominent place on the premises.

6

After paragraph 10 there shall be inserted the following paragraphs—

(10A) (1) Where, on an application by an authorised person, a justice of the peace or, in Scotland, a justice (within the meaning of section 462 of the Criminal Procedure (Scotland) Act 1975) is satisfied that there are reasonable grounds for believing— (a) that an offence in connection with the tax is being, has been or is about to be committed, and (b) that any recorded information (including any document of any nature whatsoever) which may be required as evidence for the purpose of any proceedings in respect of such an offence is in the possession of any person, he may make an order under this paragraph. (2) An order under this paragraph is an order that the person who appears to the justice to be in possession of the recorded information to which the application relates shall— (a) give an authorised person access to it, and (b) permit an authorised person to remove and take away any of it which he reasonably considers necessary, not later than the end of the period of seven days beginning on the date of the order or the end of such longer period as the order may specify. (3) The reference in subparagraph (2)(a) above to giving an authorised person access to the recorded information to which the application relates includes a reference to permitting the authorised person to take copies of it or to make extracts from it. (4) Where the recorded information consists of information contained in a computer, an order under this paragraph shall have effect as an order to produce the information in a form in which it is visible and legible and, if the authorised person wishes to remove it, in a form in which it can be removed. (5) This paragraph is without prejudice to paragraphs 8 and 10 above. (10B) (1) An authorised person who removes anything in the exercise of a power conferred by or under paragraph 10 or 10A above shall, if so requested by a person showing himself— (a) to be the occupier of premises from which it was removed, or (b) to have had custody or control of it immediately before the removal, provide that person with a record of what he removed. (2) The authorised person shall provide the record within a reasonable time from the making of the request for it. (3) Subject to subparagraph (7) below, if a request for permission to be granted access to anything which— (a) has been removed by an authorised person, and (b) is retained by the Commissioners for the purpose of investigating an offence, is made to the officer in overall charge of the investigation by a person who had custody or control of the thing immediately before it was so removed or by someone acting on behalf of such a person, the officer shall allow the person who made the request access to it under the supervision of an authorised person. (4) Subject to subparagraph (7) below, if a request for a photograph or copy of any such thing is made to the officer in overall charge of the investigation by a person who had custody or control of the thing immediately before it was so removed, or by someone acting on behalf of such a person, the officer shall— (a) allow the person who made the request access to it under the supervision of an authorised person for the purpose of photographing it or copying it; or (b) photograph or copy it, or cause it to be photographed or copied. (5) Where anything is photographed or copied under subparagraph (4)(b) above the photograph or copy shall be supplied to the person who made the request. (6) The photograph or copy shall be supplied within a reasonable time from the making of the request. (7) There is no duty under this paragraph to grant access to, or to supply a photograph or copy of, anything if the officer in overall charge of the investigation for the purposes of which it was removed has reasonable grounds for believing that to do so would prejudice— (a) that investigation; (b) the investigation of an offence other than the offence for the purposes of the investigation of which the thing was removed; or (c) any criminal proceedings which may be brought as a result of— (i) the investigation of which he is in charge, or (ii) any such investigation as is mentioned in paragraph (b) above. (8) Any reference in this paragraph to the officer in overall charge of the investigation is a reference to the person whose name and address are endorsed on the warrant or order concerned as being the officer so in charge. (10C) (1) Where, on an application made as mentioned in subparagraph (2) below, the appropriate judicial authority is satisfied that a person has failed to comply with a requirement imposed by paragraph 10B above, the authority may order that person to comply with the requirement within such time and in such manner as may be specified in the order. (2) An application under subparagraph (1) above shall be made,— (a) in the case of a failure to comply with any of the requirements imposed by subparagraphs (1) and (2) of paragraph 10B above, by the occupier of the premises from which the thing in question was removed or by the person who had custody or control of it immediately before it was so removed, and (b) in any other case, by the person who had such custody or control. (3) In this paragraph “the appropriate judicial authority” means— (a) in England and Wales, a magistrates’ court; (b) in Scotland, the sheriff; and (c) in Northern Ireland, a court of summary jurisdiction, as defined in Article 2(2)(a) of the Magistrates’ Courts (Northern Ireland) Order 1981. (4) In England and Wales and Northern Ireland, an application for an order under this paragraph shall be made by way of complaint; and sections 21 and 42(2) of the Interpretation Act (Northern Ireland) 1954 shall apply as if any reference in those provisions to any enactment included a reference to this paragraph.

SCHEDULE 8

Interpretation

1

In this Schedule “Schedule 8” means Schedule 8 to the principal Act (constitution and procedure of value added tax tribunals).

The President

2

(3) Subject to paragraph 3 below, the appointment of the President shall be for such term and subject to such conditions as may be determined by the Lord Chancellor, after consultation with the Lord Advocate, and a person who ceases to hold the office of President shall be eligible for reappointment thereto.

3

or (b) if subparagraph (1A) below applies, on the date on which he attains the age of seventyfive

.

(1A) If the Lord Chancellor, after consultation with the Lord Advocate, considers it desirable in the public interest to do so, he may authorise the President to continue in office after the end of the completed year of service mentioned in subparagraph (1) (a) above.

Sittings of tribunals

4

In paragraph 4 of Schedule 8—

Membership of tribunals

5

(3A) No person may be appointed to a panel of chairmen of tribunals for England and Wales or Northern Ireland unless he is a barrister or solicitor of not less than seven years’ standing; and no person may be appointed to a panel of chairmen of tribunals for Scotland unless he is an advocate or solicitor of not less than seven years’ standing. (3B) Subject to the following provisions of this paragraph, the appointment of a chairman of value added tax tribunals shall be for such term and subject to such conditions as may be determined by the appropriate authority, and a person who ceases to hold the office of chairman shall be eligible for reappointment thereto. (3C) A chairman of value added tax tribunals may resign his office at any time and shall vacate his office— (a) at the end of the completed year of service in which he attains the age of seventytwo; or (b) if subparagraph (3D) below applies in his case, on the date on which he attains the age of seventyfive. (3D) If the appropriate authority considers it desirable in the public interest to do so, he may authorise a chairman of value added tax tribunals to continue in office after the end of the completed year of service mentioned in subparagraph (3C)(a) above. (3E) The appropriate authority may, if he thinks fit, remove a chairman of value added tax tribunals from office on the ground of incapacity or misbehaviour.

Administration

6

[Schedules 9to 13repealed by ICTA 1988 s.844and Sch.31.See 1987edition for these provisions.]

[Schedules14to 17repealed by 1990(C) s.164(4)and Sch.2.See 1989edition for these provisions.]

SCHEDULES 9—13

PART I — General Modifications

Interpretation

1

In this Part of this Schedule—

Claims for losses etc. of a group /consortium company

2

Claims for relief by a group/consortium company

3

the total profits of that accounting period of the group/consortium company, against a fraction of which that loss or other amount may be set off (in accordance with section 259(8)(b) of the Taxes Act), shall be treated as reduced (or, as the case may be, extinguished) by deducting therefrom the potential relief available to the group/consortium company by way of group claims.

Trading losses to be set against profits before group relief

4

the amount of that loss which is available to any member of the consortium on a consortium claim shall be determined on the assumption that the company owned by the consortium has made a claim under that subsection requiring the loss to be so set off.

Extension of scope of consortium relief

5
6

and, in relation to the link company, any reference in this paragraph to a group member is a reference to a company falling within paragraph (b) above.

Restriction on consortium claims where companies join or leave consortium

7

no relief shall be allowed on the primary claim or, as the case may be, any relief which was so allowed shall be withdrawn.

8

no relief shall be allowed on the primary claim or, as the case may be, any relief which was so allowed shall be withdrawn.

PART II — Amendments of Section 263 of Taxes Act

9
10

After subsection (3) there shall be inserted the following subsections : —

(3A) If companies which are members of different groups make claims falling within subsection (3) above, that subsection shall apply separately in relation to the companies in each group. (3B) For the purposes of subsection (3) above, there shall be left out of account a claim made by a company if— (a) the claimant company joins or leaves a group of companies at the same time as the surrendering company ; and (b) both before and after that time either the claimant company is a 75 per cent, subsidiary of the surrendering company or the surrendering company is a 75 per cent, subsidiary of the claimant company or both companies are 75 per cent, subsidiaries of another company.

11
12

After subsection (4) there shall be inserted the following subsections : —

(4A) If claims falling within subsection (4) above are made as respects surrendering companies which are members of different groups, that subsection shall apply separately in relation to claims as respects the surrendering companies in each group. (4B) For the purposes of subsection (4) above, there shall be left out of account a claim made as respects a surrendering company if— (a) the surrendering company joins or leaves the group of companies concerned at the same time as the claimant company ; and (b) both before and after that time either the surrendering company is a 75 per cent, subsidiary of the claimant company or the claimant company is a 75 per cent, subsidiary of the surrendering company or both companies are 75 per cent, subsidiaries of another company.

13

For subsection (5) there shall be substituted the following subsection : —

(5) References in subsections (3) to (4A) above to claims for group relief do not include references to consortium claims, that is to say, claims made by virtue of section 258(2) above.

.

SCHEDULES 14—17.

PART I — Paragraphs to be Substituted for Paragraph 3 of Schedule 1 to the Taxes Act

PART II — Insurances Made Between 1st June 1984 and 19th March 1985

1

section 332(1) of that Act shall not apply to so much as is attributable to that policy of the profits of the registered friendly society or branch concerned which arise from tax exempt life or endowment business, as defined in section 337 of that Act.

PART III — Control of Business Done by Old Societies

2

In this Part of this Schedule " old society " means a friendly society which is not a new society (as defined in section 337(3) of the Taxes Act).

3
4

A direction under this paragraph is that (and has the effect that) the old society to which it is given is to be treated for the purposes of the Taxes Act as a new society with respect to business carried on after the date of the direction.

5

An old society to which a direction is given may, within thirty days of the date on which it is given, appeal against the direction to the Special Commissioners on the ground that—

SCHEDULE 11

Introduction

1

and in this sub-paragraph "old securities" means deep discount securities to which sub-paragraph (1), (2) or (3) above or this subparagraph applies, except that securities to which sub-paragraph (3) above applies are not old securities unless sub-paragraph (3)(b) has been fulfilled in their case by the time the conversion or exchange concerned takes place.

The charge

2

Information

3

Every company which issues a chargeable security to which paragraph 1(1), (2) or (4) above applies shall cause to be shown on fee certificate of each such security the fact that tax is chargeable under this Schedule.

Minor amendment

4

In paragraph 1(7) of Schedule 9 to the Finance Act 1984, in paragraph (b) of the definition of " income period ", after " begins on " there shall be inserted " the issue or on".

SCHEDULE 12

Introduction

1

In section 48 of this Act and this Schedule "limited partner" means—

Individuals as limited partners

2

Companies as limited partners

3

and in this paragraph such a company is referred to as "the partner company ".

Contribution

4

A person's contribution to a trade at any time is the aggregate Of—

SCHEDULE 13

Recovery of tax credits incorrectly paid

1

Claims to payment of tax credits following remedial legislation in unitary states

2

Avoidance of provision withdrawing tax credits

3

Power to inspect documents of non-resident companies

4
Paragraph 4 of Schedule 13 to the Finance Act 1985

.

Meaning of " unitary state ", etc.

5

SCHEDULE 14

PART I — Amendments with Respect to Expenditure Incurred on or after 1st April 1985

1

In section 46 of the Finance Act 1971 (machinery and plant on lease) after subsection (1) there shall be inserted the following subsection—

(1A) Where subsection (1) above applies, the question whether the provision of the machinery or plant is to be treated as being wholly and exclusively or only partly for the purposes of the trade referred to in paragraph (a) of that subsection shall be determined according to whether the machinery or plant was in fact provided wholly and exclusively for the purpose of letting otherwise than in the course of a trade or only partly for that purpose.

2

In paragraph 5 of Schedule 8 to that Act (use partly for trade purposes and partly for other purposes) in sub-paragraph (1) (first-year allowances)—

PART II — Amendments with Respect to Chargeable Periods etc. ending on or after 1st April 1985

The Finance Act 1971

3

(a) on the provision of which for the purposes of the trade he has incurred capital expenditure; and (b) which belongs to him at some time in the chargeable period or its basis period ; and (c) in respect of which, in the chargeable period or its basis period, one of the following events occurs, namely— (i) the machinery or plant ceases to belong to him ; (ii) he loses possession of the machinery or plant in circumstances where it is reasonable to assume that the loss is permanent; (iii) the machinery or plant ceases to exist as such (as a result of destruction, dismantling or otherwise); (iv) the machinery or plant begins to be used wholly or partly for purposes which are other than those of the trade; (v) the trade is permanently discontinued (or is treated by virtue of any provision of the Tax Acts as permanently discontinued); and that is the first such event to occur

.

4

In subsection (1) of section 46 of that Act (machinery and plant on lease) for paragraph (6) there shall be substituted the following paragraph—

(b) at the time when the lessor permanently ceases to let the machinery or plant otherwise than in the course of a trade, the machinery or plant shall be treated for the purposes of this Chapter as being used wholly for purposes other than those of the trade referred to in paragraph (a) above

.

5

that expenditure shall not, by virtue of sub-paragraph (ii) of paragraph (a) of subsection (4) of that section, be excluded from the capital expenditure referred to in that paragraph ".

6

In paragraph 5 of that Schedule (use partly for trade etc. purposes and partly for other purposes) for sub-paragraphs (2) to (5) there shall be substituted the following sub-paragraphs—

(2) Where a person carrying on a trade incurs capital expenditure on the provision of machinery or plant partly for the purposes of that trade (in sub-paragraphs (4) to (6) below referred to as "the actual trade") and partly for other purposes, it shall be assumed for the purposes of section 44 of this Act that he incurred the expenditure on the provision of the machinery or plant wholly and exclusively for the purposes of a trade (in sub-paragraphs (4) to (6) below referred to as "the notional trade ") carried on by him separately from the actual trade and any other trade carried on by him. (3) If, for any chargeable period, a person who has incurred expenditure on the provision of machinery or plant for the purposes of a trade (in sub-paragraphs (4) to (6) below referred to as "the actual trade ") is required to bring the disposal value of the machinery or plant into account by reason of it beginning in that chargeable period or its basis period to be used partly, but not wholly, for purposes other than those of the actual trade, it shall be assumed for the purposes of section 44 of this Act that, immediately after the beginning of that chargeable period or its basis period, he incurs capital expenditure equal to that disposal value on the provision of the machinery or plant wholly and exclusively for the purposes of a trade (in sub-paragraphs (4) to (6) below referred to as "the notional trade ") carried on by him separately from the actual trade and any other trade carried on by him. (4) Without prejudice to sub-paragraphs (i) to (iii) of paragraph (c) of subsection (5) of section 44 of this Act, it shall be assumed for the purposes of that section that the notional trade is permanently discontinued on the machinery or plant beginning to be used wholly for purposes other than those of the actual trade. (5) The allowance or charge under section 44 of this Act which, on the above assumptions, and having regard to subparagraph (6) below, would fall to be made for any chargeable period in the case of the notional trade— (a) shall be reduced to such extent as may be just and reasonable having regard to all the relevant circumstances of the case and, in particular, to the extent to which the machinery or plant was used in that chargeable period or its basis period otherwise than for the purposes of the actual trade ; and (b) shall, as so reduced, be made for that chargeable period in the case of the actual trade. (6) If an allowance under section 44 of this Act falling to be made by virtue of this paragraph for any chargeable period in the case of the actual trade is not claimed or is disclaimed under subsection (2A) of that section, or is reduced in amount in accordance with a requirement under the proviso of subsection (2) of that section or under subsection (2A) of that section then, in determining the allowance or charge under that section which would fall to be made for any subsequent chargeable period in the case of the notional trade, any allowance falling to be made in the case of that trade for the first-mentioned chargeable period shall be treated as not claimed or as disclaimed or, as the case may require, as proportionately reduced.

7
8

(1A) Where sub-paragraph (1) above applies, the question whether the provision of the machinery or plant is to be taken to be wholly and exclusively or only partly for the purposes of the trade shall be determined according to whether the use referred to in paragraph (a) or, as the case may be, paragraph (b) of that sub-paragraph is wholly and exclusively or only partly for those purposes.

9
10

In paragraph 15(3) of that Schedule (application of provisions of section 48 of the Capital Allowances Act 1968 relating to successions to trades) after the words "by substituting" there shall be inserted—

(a) in subsection (1), for the words 'in use', in each place where they occur, the words 'either in use or provided and available for use'; and (b) in subsection (2), for the word 'used' the words 'either used or provided and available for use'; and (c)

.

The Finance Act 1974

11

In section 17(1) of the Finance Act 1974 (expenditure on fire safety) the words " and had been in use for the purposes of the trade " shall be omitted.

The Finance Act 1975

12

In section 14(1) of the Finance Act 1975 (expenditure on thermal insulation) the words " and had been in use for the purposes of the trade " shall be omitted.

The Finance (No. 2) Act 1975

13

In section 49(1) of the Finance (No. 2) Act 1975 (expenditure on safety at sports grounds) the words " and had been in use for the purposes of the trade " shall be omitted.

The Finance Act 1980

14
15

In section 71(1) of that Act (expenditure on quarantine premises) the words "and had been in use for the purposes of the trade " shall be omitted.

The Finance Act 1984

16

In Schedule 16 to the Finance Act 1984 (assumptions for certain calculations relating to foreign companies) in paragraph 10 (capital allowances) for the words from " section 44 " to " balancing adjustments), not" there shall be substituted " Chapter I of Part JJl of the Finance Act 1971 to have been provided for purposes wholly other than those of the trade and not

SCHEDULE 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1

Ships.

2

Any vehicle which is of such a description that section 43 of the Finance Act 1971 (exclusion of certain road vehicles) precludes the making of a first-year allowance in respect of capital expenditure incurred on its provision.

3

Machinery or plant to which section 46 of that Act applies (machinery or plant let by any person otherwise than in the course of a trade).

4

Machinery or plant falling within paragraph 5(2) of Schedule 8 to that Act (machinery or plant used partly for trade purposes and partly for other purposes).

5

Machinery or plant where the capital expenditure on its provision is expenditure to which paragraph 6 of that Schedule applies (subsidies towards wear and tear).

6

Machinery or plant falling within paragraph 7(1)(a) or paragraph 7(1)(b) of that Schedule (user after user not attracting capital allowances or after receipt by way of gift).

7

Motor cars falling within paragraph 10 of that Schedule.

8

Machinery or plant which is used in such a way that section 64 of the Finance Act 1980 (leased assets) precludes the making of a first-year allowance in respect of expenditure incurred on the provision of it for leasing.

9

Machinery or plant which is leased to two or more persons jointly in such circumstances that section 68 of the Finance Act 1980 precludes the making of a first-year allowance in respect of the whole or part of the capital expenditure incurred on its provision.

10

Television sets in respect of which the amount of a first-year allowance falls to be determined in accordance with paragraph 8 of Schedule 12 to the Finance Act 1980.

11

Machinery or plant in respect of expenditure on which section 70 of the Finance Act 1982 (assets leased outside the United Kingdom) provides for only a 10 per cent, writing-down allowance.

12

Machinery or plant in respect of which first-year allowances continue to be available by virtue of paragraph 2(2) of Schedule 12 to the Finance Act 1984 (contracts entered into on or before 13th March 1984) or paragraph 4 of that Schedule (expenditure qualifying for regional development grants etc.)

SCHEDULE 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 17

Interpretation

1

and, except in the context of leasing machinery or plant, any reference in the following provisions of this Schedule to a lease is a reference to such a leasehold estate or, in Scotland, lease as is mentioned in paragraph (c) above or to such an agreement as is mentioned in that paragraph (and, in relation to such an agreement, the expression " grant" shall be construed accordingly).

and any reference to a chargeable period for which a person is so entitled is a reference—

Expenditure incurred by holder of interest in land

2

then, subject to paragraphs 3 and 7 below, on and after that time the fixture shall be treated for material purposes as belonging to the person concerned in consequence of his incurring the expenditure.

Expenditure incurred by equipment lessor

3

then, subject to paragraph 7 below, on and after the time at which the expenditure is incurred the fixture shall be treated for material purposes as belonging to the equipment lessor in consequence of his incurring the expenditure.

Expenditure included in consideration for acquisition of existing interest in land

4

then, subject to paragraph 7 below, on and after the purchaser's acquisition of his interest in the relevant land, the fixture shall be treated for material purposes as belonging to him in consequence of his incurring expenditure as mentioned in paragraph (b) above.

sub-paragraph (1) above shall apply as if that capital sum were such a capital sum as is referred to in paragraph (b) of that sub-paragraph.

Expenditure incurred by incoming lessee : election to transfer right to allowances

5

then, subject to paragraph 7 below, on and after the grant of the lease, the fixture shall be treated for material purposes as belonging to the lessee in consequence of his incurring expenditure as mentioned in paragraph (c) above.

Expenditure incurred by incoming lessee: lessor not entitled to allowances

6

In any case where—

then, subject to paragraph 7 below, on and after the grant of the lease, the fixture shall be treated for material purposes as belonging to the lessee in consequence of his incurring expenditure as mentioned in paragraph (b) above.

Cases where fixture is to be treated as ceasing to belong to particular person

7

but if the qualifying interest is an agreement to acquire an interest in land and that interest in land is subsequently transferred or granted to the person referred to in sub-paragraph (2) above, the interest so transferred or granted shall be treated as the same interest as the qualifying interest.

Special provisions as to equipment lessors

8

then, at that time (or, as the case may be, at the earliest of those times) the fixture shall be treated for material purposes as ceasing to belong to the equipment lessor by reason of a sale by him of the fixture.

and, where paragraph (b) above applies, on and after the time of that payment, the fixture shall be treated for material purposes as belonging to the equipment lessee.

Disposal value of fixtures in certain cases

9

the fixture shall be treated for material purposes as sold at that time by the former owner for a price determined in accordance with sub-paragraphs (2) to (6) below.

that paragraph shall apply as if the reference therein to paragraph (a) and paragraph (b) of that subsection were omitted; but if the event which follows the discontinuance of the trade is the sale of the qualifying interest, the disposal value of the fixture to be brought into account under that section shall be that portion of the sale price referred to in sub-paragraph (2) above.

SCHEDULE 18

PART I — Expenditure on Purchase of Patent Rights

1
2

For the purposes of paragraph 1 above, a person's qualifying expenditure for a chargeable period is the aggregate of the following amounts—

3
4

Where a person incurs capital expenditure on the purchase of patent rights and either—

there shall be disregarded for the purposes of paragraphs 1 and 2 above so much (if any) of that expenditure as exceeds the disposal value to be brought into account by virtue of paragraph 3 above by reason of the sale.

PART II — Expenditure on Acquiring Know-How

5
6

For the purposes of paragraph 5 above, a person's qualifying expenditure for a chargeable period is the aggregate of the following amounts—

7

If, in any chargeable period or its basis period, a person sells any know-how, on the acquisition of which for use in a trade carried on by him he has incurred expenditure falling within subsection (1) of section 386 of the Taxes Act, then, for the purposes of paragraphs 5 and 6 above, he is required to bring into account for that chargeable period disposal value equal to the net proceeds to him of that sale.

8

Subsections (7) and (8) of section 386 of the Taxes Act (meaning of "know-how" and treatment of certain consideration) apply for the purposes of this Part of this Schedule as they apply for the purposes of that section.

SCHEDULE 19

Part I

1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part II

6

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part III

8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Consideration for options

15

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part IV — Identification of Securities etc.

16

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part V

20

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

21

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part VI

22

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

23

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 20

Part I

1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part II

Disposals on which relief may be given

5

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Gains qualifying for relief

6

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The amount available for relief : the basic rule

13

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Aggregation of earlier business periods

14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Relief given on earlier disposal

15

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Aggregation of spouse’s interest in the business

16

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 21

1
2

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 22

Introduction

1

The charge

2

Chargeable securities

3

Charge eliminated or reduced

4

and amounts D and E shall be determined as mentioned in the following provisions of this paragraph.

$Y×1096Z×3$

.

Exceptions

5

Information etc.

6
Paragraph 6(1) of Schedule 22 to the Finance Act 1985

.

Offshore funds

7

SCHEDULE 23

PART I — General Interpretation

Securities

1

Transfers, holding etc.

2

then, for the purposes of the provisions mentioned in sub-paragraph (9) below, each of them shall be treated as holding at that time the securities which the other holds as well as those which he actually holds.

Interest and related expressions

3

and they are transferred without accrued interest if they are transferred without that right.

Settlement day

4

Nominal value

5

For the purposes of this Chapter the nominal value of securities is—

PART II — Special Cases

Nominees and trustees

6
7

and they shall be treated as transferred without accrued interest if he was not so entitled.

8

and (g) the amount of any tax on annual profits or gains treated as received by trustees by virtue of section 74(2) of the Finance Act 1985, paragraph 2(2) or (3) of Schedule 22 to that Act or paragraph 15(3) of Schedule 23 to that Act (securities) and charged at a rate equal to the sum of the basic rate and the additional rate by virtue of paragraph 8(1) of Schedule 23 to that Act;

.

9

Foreign currency

10

Foreign securities: delayed remittances

11

Death

12

and they shall be treated as transferred without accrued interest if he was not so entitled.

Trading stock: appropriations

13

and they shall be treated as transferred without accrued interest if he was not so entitled.

Conversions

14

and they shall be treated as transferred without accrued interest if he was not so entitled.

Transfer of unrealised interest

15

Insurance companies

16

The references in section 75(1)(a) and (2)(a) of this Act and in paragraph 5(1) of Schedule 22 to this Act to computing the profits or losses of a trade shall not be taken as applying to a computation of income for the purposes of section 305(2) of the Taxes Act (expenses of management of insurance companies).

17

Where an insurance company carrying on life assurance business is treated as receiving annual profits or gains under section 74(2) of this Act, paragraph 2 of Schedule 22 to this Act or paragraph 15(3) above in respect of securities held as investments in connection with that business, the profits or gains shall be treated for the purposes of section 310 of the Taxes Act (rate relief: investment income reserved for policy holders) as if they were income from investments held in connection with that business.

18
19
20

Underwriters

21

In paragraphs 22 to 28 below " approved association of underwriters ", " business " and " premiums trust fund " have the meanings given by paragraph 16(1) of Schedule 10 to the Taxes Act.

22

An underwriting member of Lloyd's or of an approved association of underwriters shall be treated for the purposes of this Chapter as absolutely entitled as against the trustees to the securities forming part of his premiums trust fund, his special reserve fund (if any) and any other trust fund required or authorised by the rules of Lloyd's or the association in question, or required by the underwriting agent through whom his business or any part of it is carried on, to be kept in connection with the business.

23
28th February 1982 1st January 1982
27th February 1985 31st December 1984
28th February 1985 1st January 1985
27th February 1986 31st December 1985
28th February 1986 1st January 1986
24

and they shall be treated as transferred without accrued interest if they are not so entitled.

25
26
27
28
29

In paragraph 7(3)(o) of Schedule 10 to the Taxes Act (special reserve funds) " income " includes annual profits or gains chargeable to tax by virtue of section 74(2) of this Act or paragraph 2(4) of Schedule 22 to this Act or paragraph 15(3) above.

Charities

30
31

and they shall be treated as transferred without accrued interest if they were not so entitled.

Retirement schemes

32

PART III — Miscellaneous

Capital gains

33

but the following provisions of this paragraph shall apply.

34

the securities shall be treated for the purposes of this paragraph as transferred on the day of the disposal.

and they shall be treated for those purposes as transferred without accrued interest if he was not so entitled.

35
36

Schedule 22 to this Act shall be disregarded in construing sections 31 and 33 of the Capital Gains Tax Act 1979.

Double taxation relief

37
38

$$I−RI$ where I is the amount of the interest and R is the amount by which it is treated as reduced.$

Transfer of assets abroad

39

Taxes Act: miscellaneous

40
41

Subsections (1) and (2) of section 469 of the Taxes Act (sale and repurchase of securities) shall not apply if the owner's agreement to sell or transfer constitutes a transfer to which section 73(2)(a) of this Act applies.

42

Section 474 of the Taxes Act (purchase and sale of securities by persons other than dealers in securities) does not apply to the extent that the interest is payable in respect of securities which are securities for the purposes of this Chapter and which are purchased by the first buyer on or after 28th February 1986.

43

Information

44
Paragraph 44 of Schedule 23 to the Finance Act 1985

.

SCHEDULE 24

a

The heading beginning " Agreement or contract made or entered into pursuant to the Highways Acts ".

b

The headings beginning " Appointment of a new trustee, and appointment in execution of a power of any property ".

c

The heading beginning " Charter of resignation ".

d

The heading beginning " Covenant. Any separate deed of covenant".

e

The heading " Deed of any kind whatsoever, not described in this schedule ".

f

The headings beginning " Letter of allotment and letter of renunciation " and " Scrip certificate, scrip ".

g

The heading beginning " Letter or power of attorney, and commission, factory, mandate ".

h

The heading beginning " Precept of clare constat".

i

The heading " Procuration, deed, or other instrument of ".

j

The heading beginning " Resignation ", together with the heading " instrument of resignation of any lands or other heritable subjects in Scotland not of burgage tenure ".

k

The heading " Revocation of any use or trust of any property by any writing, not being a will ".

l

The heading beginning "Seisin" and the heading "Notarial instrument to be expeded and recorded in any register of sasines ".

m

The heading " Warrant of attorney of any other kind ".

n

The heading beginning " Writ".

SCHEDULE 25

Part I — Provisions Supplementary to Abolition of Development Land Tax

1
2

then, except as respects the interaction of the DLT disposal with a CGT disposal or trading disposal occurring before 19th March 1985, for the purposes of Part I of Schedule 6 to the 1976 Act (interaction of development land tax with other taxes) so much of the realised development value as is referable to the deferred tax shall be assumed not to have accrued on the DLT disposal and, accordingly, no sum shall be regarded as being available or allowable as a deduction under any provision of that Part by virtue of that amount of realised development value.

3

Where, by virtue of paragraph 21 or paragraph 22 of Schedule 2 to the 1976 Act (general rules for determining amount of consideration),—

no further assessment to tax shall be raised by reason of anything occurring on or after 19th March 1985, but relief by way of discharge or repayment of tax or otherwise shall continue to be available on and after that date under sub-paragraph (2) of the paragraph in question.

Part II — Consequential Amendments

The Taxes Management Act 1970

4

In section 38 of the Taxes Management Act 1970 (modification of section 37 in relation to partnerships) in subsection (3) for the words “subsections (3A) and (5)” (which were substituted by paragraph 8 of Schedule 8 to the Development Land Tax Act 1976) there shall be substituted “subsection (5)”.

5

In section 40 of that Act (assessment on personal representatives) in subsection (3) for the words “subsections (1) and (2) above” (which were substituted by paragraph 9(1) of Schedule 8 to the said Act of 1976) there shall be substituted “this section”.

6

In section 70 of that Act (evidence) in subsection (2) for the words “86A or 87” (which were substituted by section 115 of the Finance Act 1980) there shall be substituted “or 87”.

The Taxes Act

7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8

In section 316 of the Taxes Act (overseas life insurance companies: charge on investment income) for subsection (1A) (which was inserted by paragraph 7 of Schedule 7 to the Finance Act 1974 and amended by the Finance Act 1984) there shall be substituted the following subsection—

(1A) In subsection (1) above, " income " shall not include income attributable to offshore income gains, within the meaning of Chapter VII of Part II of the Finance Act 1984 (but without prejudice to any claim under section 310 of this Act).

The Finance Act 1972

9

In Part II of Schedule 16 to the Finance Act 1972 (provisions for determining relevant income and distributions etc. of close companies) in paragraph 10(8), (which was amended by paragraph 5 of Schedule 7 to the Finance Act 1974) for paragraphs (b) onwards there shall be substituted—

(b) secondly, so far as it cannot be made under (a) above, from the company's estate or trading income so charged; and (c) thirdly, so far as it cannot be made under (a) or (b) above, from the amount included in the company's profits in respect of chargeable gains

.

The Finance Act 1981

10

In section 135 of the Finance Act 1981 (Chevening estate) in subsection (1) for the words “capital transfer tax and development land tax” there shall be substituted “and capital transfer tax”.

SCHEDULE 26

Principal amendments

1

In section 30 (1) (b) of the Capital Transfer Tax Act 1984 there shall be added at the end “or (where the property is an area of land within subsection (1) (d) of that section) with respect to which the requisite undertakings described in that section are given by such person or persons as the Treasury think appropriate in the circumstances of the case.”.

2

(d) any area of land which in the opinion of the Treasury is essential for the protection of the character and amenities of such a building as is mentioned in paragraph (c) above.

.

(4A) In the case of an area of land within subsection (1) (d) above (relevant land) there is an additional requisite undertaking, which is that, until the person beneficially entitled to property falling within subsection (4C) below dies, or it is disposed of, whether by sale or gift or otherwise, specified steps will be taken for its maintenance, repair and preservation and for securing reasonable access to the public; and “specified steps” means such steps as are agreed between the Treasury and the person giving the undertaking, and are set out in it. (4B) Where different persons are entitled (either beneficially or otherwise) to different properties falling within subsection (4C) below, subsection (4A) above shall have effect to require separate undertakings as to the maintenance, repair, preservation and access of each of the properties to be given by such persons as the Treasury think appropriate in the circumstances of the case. (4C) The following property falls within this subsection— (a) the building for the protection of whose character and amenities the relevant land is in the opinion of the Treasury essential; (b) any other area (or areas) of land which, in relation to the building, falls (or fall) within subsection (1) (d) above and which either lies (or lie) between the relevant land and the building or is (or are) in the opinion of the Treasury physically closely connected with the relevant land or the building. (4D) Where subsection (4A) above requires an undertaking for the maintenance, repair, preservation and access of property, such an undertaking for its maintenance, repair, preservation and access is effective. (4E) Any undertaking given in pursuance of subsection (4A) above is for the purposes of this Act given with respect to the relevant land. (4F) It is for the person seeking the designation of relevant land to secure that any undertaking required under subsection (4A) above is given.

3

(5A) This section does not apply where section 32A below applies

.

4

The following shall be inserted after section 32 of that Act—

(32A) (1) For the purposes of this section the following properties are associated with each other, namely, a building falling within section 31 (1) (c) above and (to the extent that any of the following exists) an area or areas of land falling within section 31 (1) (d) above in relation to the building and an object or objects falling within section 31 (1) (e) above in relation to the building; and this section applies where there are such properties, which are referred to as associated properties. (2) Where there has been a conditionally exempt transfer of any property (or part), tax shall be charged under this section in respect of that property (or part) on the first occurrence after the transfer of an event which under this section is a chargeable event with respect to that property (or part). (3) If the Treasury are satisfied that at any time an undertaking given under section 30 above or this section for the maintenance, repair, preservation, access or keeping of any of the associated properties has not been observed in a material respect, then (subject to subsection (10) below) the failure to observe the undertaking is a chargeable event with respect to the whole of each of the associated properties of which there has been a conditionally exempt transfer. (4) If— (a) the person benefically entitled to property dies, or (b) property (or part of it) is disposed of, whether by sale or gift or otherwise, then, if the property is one of the associated properties and an undertaking for its maintenance, repair, preservation, access or keeping has been given under section 30 above or this section, the death or disposal is (subject to subsections (5) to (10) below) a chargeable event with respect to the whole of each of the associated properties of which there has been a conditionally exempt transfer. (5) Subject to subsection (6) below, the death of a person beneficially entitled to property, or the disposal of property (or part), is not a chargeable event if the personal representatives of the deceased (or, in the case of settled property, the trustees or the person next entitled) within three years of the death make or, as the case may be, the disposal is— (a) a disposal of the property (or part) concerned by sale by private treaty to a body mentioned in Schedule 3 to this Act, or to such a body otherwise than by sale, or (b) a disposal of the property (or part) concerned in pursuance of section 230 below. (6) Where a disposal mentioned in subsection (5) (a) or (b) above is a part disposal, that subsection does not make the event non-chargeable with respect to property other than that disposed of unless any undertaking previously given under section 30 above or this section for the maintenance, repair, preservation, access or keeping of the property (or part) concerned is replaced by a corresponding undertaking given by such person as the Treasury think appropriate in the circumstances of the case; and in this subsection “part disposal” means a disposal of property which does not consist of or include the whole of each property which is one of the asociated properties and of which there has been a conditionally exempt transfer. (7) Where, after a relevant disposal (that is, a disposal mentioned in subsection (5) (a) or (b) above made in circumstances where that subsection applies), a person beneficially entitled to the property (or part) concerned dies or the property (or part) concerned is disposed of, the death or disposal is not a chargeable event with respect to the property (or part) concerned unless there has again been a conditionally exempt transfer of the property (or part) concerned after the relevant disposal. (8) The death of a person beneficially entitled to property, or the disposal of property (or part) otherwise than by sale, is not a chargeable event if— (a) the transfer of value made on the death or the disposal is itself a conditionally exempt transfer of the property (or part) concerned, or (b) any undertaking previously given under section 30 above or this section for the maintenance, repair, preservation, access or keeping of anything falling within the associated properties is replaced by a corresponding undertaking given by such person as the Treasury think appropriate in the circumstances of the case. (9) If— (a) the whole or part of any property is disposed of by sale, and (b) any undertaking previously given under section 30 above or this section for the maintenance, repair, preservation, access or keeping of the property (or part) concerned is replaced by a corresponding undertaking given by such person as the Treasury think appropriate in the circumstances of the case, the disposal is a chargeable event only with respect to the whole or part actually disposed of (if it is a chargeable event with respect to such whole or part apart from this subsection). (10) If— (a) the Treasury are satisfied that there has been a failure to observe, as to one of the associated properties or part of it, an undertaking for the property’s maintenance, repair, preservation, access or keeping, or (b) there is a disposal of one of the associated properties or part of it, and it appears to the Treasury that the entity consisting of the associated properties has not been materially affected by the failure or disposal, they may direct that it shall be a chargeable event only with respect to the property or part as to which there has been a failure or disposal (if it is a chargeable event with respect to that property or part apart from this subsection).

Consequential amendments

5

In sections 33 (1), 34 (1), and 221 (6) (a) of that Act, and in paragraph 5 of Schedule 2 to that Act, after “32” there shall be inserted “or 32A”.

6

In sections 33 (6) and 34 (4) of that Act, at the end there shall be added “or, where the property has been disposed of as mentioned in section 32A (5) above, before any event which apart from section 32A (5) would have been such a chargeable event.”

7

For section 35 (2) (a) and (b) of that Act there shall be substituted—

(a) if there has been no conditionally exempt transfer of the property on death, tax shall be chargeable either— (i) under section 32 or 32A above (as the case may be), or (ii) under Schedule 5 to this Act, as the Board may elect; (b) if there has been such a conditionally exempt transfer, tax shall be chargeable under section 32 or 32A above (as the case may be) and not under that Schedule.

8

In section 78 of that Act—

9

In section 79 (3) (b) of that Act after “given” there shall be inserted “with respect to the property” and after “case” there shall be inserted “or (where the property is an area of land within subsection (1) (d) of that section) the requisite undertakings described in that section have been given with respect to the property by such person or persons as the Treasury think appropriate in the circumstances of the case”.

10

After section 207 (2) of that Act there shall be inserted—

(2A) Where tax is chargeable under section 32A above on the occurrence of an event which is a chargeable event with respect to any property by virtue of subsection (3) or subsection (4) (a) of that section, the person liable for the tax is the person who, if the property were sold— (a) in a case within subsection (3) of that section, at the time the tax becomes chargeable, and (b) in a case within subsection (4) (a) immediately after the death, would be entitled to receive (whether for his benefit or not) the proceeds of sale or any income arising from them. (2B) Where tax is chargeable under section 32A above on the occurrence of an event which is a chargeable event with respect to any property by virtue of subsection (4) (b) of that section, the person liable for the tax is the person by whom or for whose benefit the property is disposed of.

11

In sections 216 (7), 226 (4) and 233 (1) (c) of that Act, after “32,” there shall be inserted “32A,”.

12

In paragraph 3 of Schedule 4 to that Act—

13

In paragraph 4 (2) of Schedule 6 to that Act, for paragraphs (a) and (b) there shall be substituted—

(a) if there has been no conditionally exempt transfer of the property on death, either— (i) tax shall be chargeable under section 32 or 32A of this Act (as the case may be), or (ii) estate duty shall be chargeable under those provisions, as the Board may elect, and (b) if there has been such a conditionally exempt transfer, there shall be a charge under section 32 or 32A of this Act (as the case may be) and not under those provisions;

.

14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 27

Part I — Customs and Excise: Miscellaneous

Part II — Vehicles Excise Duty

Part III — Gaming Machine Licence Duty

Part IV — Value Added Tax

Part V — Income Tax and Corporation Tax: General

Part VI — Income Tax and Corporation Tax: Capital Allowances

Part VII — Capital Gains

Part VIII — Securities

Part IX — Stamp Duty

Part X — Development Land Tax and Tax on Development Gains

Part XI — Miscellaneous

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13A
14A
14B
15A
17A

Gifts inter vivos.

Chargeable periods relevant to limit on tax payable and expenditure supplement.

Extension of Provisional Collection of Taxes Act 1968 to reduced and composite rates.

Abolition of development land tax and tax on development gains.

Extension of Provisional Collection of Taxes Act 1968 to reduced and composite rates.

1

The repeals in the Alcoholic Liquor Duties Act 1979 have effect on the coming into operation of regulations under section 71A of the Alcoholic Liquor Duties Act 1979.

2

The repeal in the Hydrocarbon Oil Duties Act 1979 has effect on the coming into operation of paragraph 4 of Schedule 4 to this Act.

These repeals apply in relation to licences taken out after 19th March 1985.

1

The repeals in the Miscellaneous Transferred Excise Duties Act (Northern Ireland) 1972, the Finance Act 1980 and the Finance Act 1982 have effect from 1st October 1985.

2

The repeals in the Betting and Gaming Duties Act 1981 do not affect licences granted for periods beginning before 1st October 1985.

1

The repeal in Schedule 5 to the Value Added Tax Act 1983 has effect with respect to supplies made on or after 1st May 1985.

2

The repeals in paragraphs 4 and 7 of Schedule 8 to the Value Added Tax Act 1983 have effect on the coming into operation of Schedule 8 to this Act.

1

The repeal in section 263 of the Income and Corporation Taxes Act 1970 has effect in accordance with section 39(2)(b) of this Act.

2

The repeals in section 333 and 337 of the Income and Corporation Taxes Act 1970 have effect with respect to life or endowment business (as defined in section 337 of that Act) of friendly societies and branches thereof carried on on or after 1st June 1984.

3

The repeals in sections 334 and 335 of the Income and Corporation Taxes Act 1970, Schedule 9 to the Friendly Societies Act 1974 and section 73 of the Fianance Act 1984 have effect with respect to business of friendly societies and branches thereof carried on on or after 19th March 1985.

4

The repeals in section 343 of the Income and Corporation Taxes Act 1970, section 54 of the Finance Act 1978, section 29 of the Finance Act 1983 and section 34 of the Finance Act 1984 have effect for the year 1986–87 and subsequent years of assessment.

5

The repeals in section 1 of the Friendly Societies Act (Northern Ireland) 1970 and section 7 of the Friendly Societies Act 1974 and the repeal of Schedule 9 to the Finance (No 2) Act 1975 (except paragraphs 5, 9 and 10) and section 57(2)(a) of the Finance Act 1980 have effect in accordance with section 41(4) of this Act.

1

The repeals in section 68 of the Capital Allowances Act 1968 and section 39 of the Finance Act 1978 have effect with respect to capital expenditure incurred on or after 1st April 1986, other than expenditure which—

2

The repeals in section 82 of the Capital Allowances Act 1968, section 50 of the Finance Act 1971 and paragraph 14 of Schedule 12 to the Finance Act 1982 have effect with respect to any chargeable period or its basis period ending on or after 18th December 1984.

3

The repeal in section 94 of the Capital Allowances Act 1968 has effect with respect to capital expenditure incurred on or after 1st April 1985 unless that expenditure—

4

The repeals in sections 378, 379, 386 and 387 of the Income and Corporation Taxes Act 1970 have effect with respect to expenditure incurred on or after 1st April 1986.

5

The repeals in sections 41 and 44 of, and in paragraphs 6 and 10 of Schedule 8 to, the Finance Act 1971, in section 17 of the Finance Act 1974, in section 14 of the Finance Act 1975, in section 49 of the Finance (No 2) Act 1975, and in sections 65 and 71 of the Finance Act 1980 have effect with respect to any chargeable period or its basis period ending on or after 1st April 1985.

6

The repeals in paragraphs 5 and 8 of Schedule 8 to the Finance Act 1971 and in the Finance Act 1972 have effect with respect to capital expenditure incurred on or after 1st April 1985.

1

The repeals in section 270 of the Income and Corporation Taxes Act 1970, section 58 of the Finance (No. 2) Act 1975, sections 65 to 70 and 84 of and Schedule 7 to the Capital Gains Tax Act 1979, section 41 of the Finance Act 1981, section 58 of the Finance Act 1982 and Schedule 13 to the Finance Act 1984 have effect with respect to disposals on or after 2nd July 1986.

2

The repeal of sections 124 and 125 of the Capital Gains Tax Act 1979 has effect in accordance with section 69(1) of this Act.

3

The repeal of section 151 of the Capital Gains Tax Act 1979 has effect with respect to gifts or other transactions occurring after 19th March 1985.

4

The repeals in the Finance Act 1982, the Finance Act 1983, the Finance (No. 2) Act 1983 and Schedule 9 to the Finance Act 1984 have effect—

(1) Gifts Inter Vivos

(2) Fixed Duties

(3) Contract Notes

(4) Exchange Rates

(5) Finance Act 1931

1

The repeals in the Finance Act 1974, the Finance Act 1976, the Capital Gains Tax Act 1979 and section 99(3) of the Finance Act 1984—

2

The other repeals in this Part and the repeal of section 114 of and paragraph 6 of Schedule 7 to the Capital Gains Tax Act 1979 do not have effect in relation to a disposal, as defined n section 93(1) of this Act, which takes place before 19th March 1985.

Editorial notes

[^c10029271]: ss. 1-3, 5-7, 10, 98(1)(6), Schs. 1, 3, 4, 27 Pt. I from Gp 40:1(Customs and Excise), ss. 11-33, 98(1)(6), Schs. 6-8, 27 Pt. IV from Gp 40:2(Customs and Excise), ss. 4, 9, 98(1)(6), Schs. 2, 27 Pt. II from Gp 107:2(Road Traffic), ss. 8, 10(5)-(7), 98(1)(6), Schs. 5, 27 Pt. III from Gp 12:2(Betting, Gaming and Lotteries), ss.34-66, 73-77, 90-92, 93, 96, 98(1)-(3)(5)(6), Schs. 9-18, 22, 23, 25, 27 Pts. V, VI, VIII, X from Gp 63:1(Income, Corporation and Capital Gains Taxes), ss. 67-72, 95, 98(1)-(3)(6), Schs 19-21, 27 Pt. VII from Gp 63:2(Income, Corporation and Capital Gains Taxes), ss. 78-89, 98(1)(4)(6), Schs. 24, 27 Pt. IX from Gp 114(Stamp duty), ss. 94, 95, 98(1)(6), Schs. 26, 27 Pt. XI from Gp 65(Inheritance Tax), ss. 97, 98(1) from Gp 99:7(Public Finance and Economic Controls)

[^c10029281]: Act partly in force at Royal Assent, partly prospective, partly retrospective, see individual sections. All provisions so far as unrepealed wholly in force at 1.2.1991. Some provisions came into force at specific times of the day.

[^c10029291]: General amendments to Tax Acts, Income Tax Acts, and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) but not against each Act

[^c10029301]: 1979 c. 4.

[^c10029311]: S. 2 repealed by Finance Act 1986 (c. 41, SIF 40:1), s. 114, Sch. 23 Pt. I

[^c10029321]: 1979 c. 5.

[^c10029381]: S. 4(1)-(3)(5)-(8) repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt. I (with s. 57(4))

[^c10029411]: S. 4(4) repealed (3.5.1994 with effect in relation to licences taken out after 30.11.1993) by 1994 c. 9, s. 258, Sch. 26 Pt. I

[^c10029461]: 1979 c. 4.

[^c10029471]: 1979 c. 4.

[^c10029481]: Power of appointment conferred by s. 6(2) fully exercised: 29.10.1985 appointed by S.I. 1985/1622, art. 2

[^c10029491]: Power of appointment conferred by s. 7(2) fully exercised: 15.10.1985 appointed by S.I. 1985/1451, art. 2

[^c10029501]: 1981 c. 63

[^c10029511]: 1972 c. 11 (N.I.).

[^c10029531]: S. 9 repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt. I (with s. 57(4))

[^c10029901]: S. 11 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10029921]: S. 12 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10030141]: S. 13 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10030161]: S. 13A repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10030811]: S. 14 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10030881]: S. 14A repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10030901]: S. 14B repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10031391]: S. 15 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15 (and subject to amendment by 1995 c. 4, s. 32(2)-(4))

[^c10031411]: S. 15A repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10031421]: S. 16 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10031631]: S. 17 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10031651]: S. 17A repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10032371]: S. 18 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10032611]: S. 19 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10032721]: S. 20 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10032861]: S. 21 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10032921]: S. 22 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23 ss. 100(2), Sch. 15

[^c10032931]: S. 23 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10032941]: S. 24 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10032961]: S. 25 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10032991]: S. 26 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10033011]: S. 27 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10033021]: S. 28 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10033051]: S. 29 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10033071]: S. 30 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10033081]: S. 31 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10033091]: S. 32 repealed by Finance Act 1990 (c. 29, SIF 40:2), s. 132, Sch. 19 Pt. III Note 1 and is expressed to be repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10033151]: S. 33 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10029891]: Pt. I Chapter II (ss. 11-13) modified by Finance Act 1988 (c. 39, SIF 40:2), s. 21(a)

[^c10033161]: Ss. 34–49, 73–77, Schs. 9–13, 18, 22, 23, 25 paras. 7–9 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

[^c10033181]: S. 50 repealed (1.5.1995 with effect as mentioned in Sch. 29 Pt. VIII(16) Note 5of the amending Act) by 1995 c. 4, s. 162, Sch. 29 Pt. VIII(16)

[^c10033191]: Ss. 51–53 repealed by Income and Corporation Taxes Act 1988 (c.1, SIF 1), s. 844, Sch. 31

[^c18609001]: S. 54 repealed by Income and Corporation Taxes Act 1988 (c.1), s. 844, Sch. 31 (with saving in Sch. 30 para. 20)

[^c10033201]: 1972 c. 41.

[^c10033211]: Ss. 55–59, 61–66 and Schs. 14–17 repealed by Capital Allowance Act 1990 (c. 1), s. 164(4)(5), Sch. 2

[^c10033221]: Ss. 51–53 repealed by Income and Corporation Taxes Act 1988 (c.1, SIF 1), s. 844, Sch. 31

[^c10033231]: Ss. 55–59, 61–66 and Schs. 14–17 repealed by Capital Allowance Act 1990 (c. 1), s. 164(4)(5), Sch. 2

[^c10033281]: S. 67 repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10033521]: S. 68 repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10033591]: S. 69 repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10033771]: S. 70 repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 20, 26(2), 27)

[^c10033791]: S. 71 repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10033931]: S. 72 repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10033941]: Ss. 34–49, 73–77, Schs. 9–13, 18, 22, 23, 25 paras. 7–9 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

[^c10033951]: Ss. 78, 79 and 80 repealed by Finance Act 1986 (c. 41, SIF 114), ss. 73, 74(1)(c)(3), 114, Sch. 23 Pt. IX(1) Note 1

[^c22516451]: S. 81(2) substituted (with effect in accordance with s. 112(6) of the amending Act) by Finance Act 1999 (c. 16) ss. 112(4), 122, {Sch. 14 para. 8}

[^c22516471]: Words in s. 81(3) substituted (with effect in accordance with s. 112(6) of the amending Act) by Finance Act 1999 (c. 16) ss. 112(4), 122, {Sch. 14 para. 8}

[^c22514011]: Words in s. 81substituted (6.4.1992) by 1992 (c. 12), s. 290, {Sch. 10 para. 9}

[^c10034031]: 1910 c. 8.

[^c10034041]: 1965 c. 25.

[^c10034051]: 1965 c. 16 (N.I.)

[^c10034061]: 1983 c. 49.

[^c10034071]: 1891 c. 39.

[^c10034121]: Words in s. 83(1) substituted (27.7.1999 with effect in relation to instruments executed on or after 1.10.1999) by 1999 c. 16, s. 112(4)(6), Sch. 14 para. 10(a)

[^c10034251]: Words in s. 84(1) substituted (27.7.1999 with effect in relation to instruments executed on or after 1.10.1999) by 1999 c. 16, s. 112(4)(6), Sch. 14 para. 11(a)

[^c10034261]: 1952 c. 64.

[^c10034271]: 1964 c. 41.

[^c10034321]: 1907 c. 13.

[^c10034331]: 1891 c. 39.

[^c10034341]: 1910 c. 8.

[^c10034351]: 1899 c. 9.

[^c10034361]: 1891 c. 39.

[^c10034391]: 1931 c. 28.

[^c10034401]: Words in s. 89(3) repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1, Pt.XIV

[^c10034411]: 1975 c. 22.

[^c10034421]: Part of the text of ss. 67(2), 72(6), 90(3)-(5), 91(1) and (3), 92(2)(4), 96(1), Sch. 19 paras. 1(2)(3), 2(2), 3(3), 5(5)( a ), 20(2), Sch. 27 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals that may have been made prior to 1.2.1991

[^c10034441]: 1975 c. 22.

[^c10034461]: Part of the text of ss. 67(2), 72(6), 90(3)-(5), 91(1) and (3), 92(2)(4), 96(1), Sch. 19 paras. 1(2)(3), 2(2), 3(3), 5(5)( a ), 20(2), Sch. 27 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals that may have been made prior to 1.2.1991

[^c10034471]: 1975 c. 22.

[^c10034491]: 1983 c. 56.

[^c10034501]: Part of the text of ss. 67(2), 72(6), 90(3)-(5), 91(1) and (3), 92(2)(4), 96(1), Sch. 19 paras. 1(2)(3), 2(2), 3(3), 5(5)( a ), 20(2), Sch. 27 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals that may have been made prior to 1.2.1991

[^c10034521]: 1983 c. 56.

[^c10034531]: 1976 c. 24.

[^c10034541]: 1974 c. 30.

[^c10034571]: 1984 C. 51

[^c10034581]: S. 95(1)(b) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10034591]: Part of the text of ss. 67(2), 72(6), 90(3)-(5), 91(1) and (3), 92(2)(4), 96(1), Sch. 19 paras. 1(2)(3), 2(2), 3(3), 5(5)( a ), 20(2), Sch. 27 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals that may have been made prior to 1.2.1991

[^c10034601]: 1984 c. 43.

[^c10034611]: S.I. 1972/1589.

[^c10034631]: Income and Corporation Taxes Act 1988 Sch. 29 para. 32

[^c10034641]: 1979 c. 14.

[^c10034651]: 1975 c. 22.

[^c10034681]: Sch. 2 Pt. I para. 1 repealed (25.7.1991) by Finance Act 1991 (c. 31, SIF 107:2), s. 123, Sch. 19 Pt.III, Note 4 with effect in relation to licences taken out after 20.3.1991

[^c10034691]: Sch. 2 Pt. I para. 2 repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt. I (with s. 57(4))

[^c10034701]: Sch. 2 paras. 3, 4 and 9 repealed by Finance Act 1990 (c. 29, SIF 107:2), s. 132, Sch. 19 Pt. II (in relation to licences taken out after 20.3.1990)

[^c10034711]: Sch. 2 Pt. I para. 5 repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt. I (with s. 57(4))

[^c10034661]: 1971 c. 10.

[^c10034671]: 1972 c. 10. (N.I.)

[^c10034731]: Sch. 2 para. 6 repealed (with effect in relation to licenses taken out after 16.3.1993) by 1993 c. 34, s. 213, Sch. 23 Pt.I

[^c10034741]: Sch. 2 para. 7 repealed (8.11.1993) by S.I. 1993/2452, art. 3, Sch.2

[^c10034751]: Sch. 2 Pt. II para. 8 repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt. I (with s. 57(4))

[^c10034761]: Sch. 2 paras. 3, 4 and 9 repealed by Finance Act 1990 (c. 29, SIF 107:2), s. 132, Sch. 19 Pt. II (in relation to licences taken out after 20.3.1990)

[^c10034721]: 1971 c. 10

[^c10034781]: Sch. 3 para. 3 repealed (1.5.1993 for specified purposes and 1.6.1993 otherwise) by Finance Act 1991 (c. 31, SIF 40:1), ss. 7, 123, Sch. 19 Pt. II; S.I. 1993/1152, art. 2, Sch. 1 (with arts. 3-7)

[^c10034801]: Sch. 3 para. 4 repealed (1.5.1993 for specified purposes and 1.6.1993 otherwise) by Finance Act 1991 (c. 31, SIF 40:1) ss. 7, 123, Sch. 19 Pt. II; S.I. 1993/1152, art. 2, Sch. 1 (with arts. 3-7)

[^c10034771]: 1979 c. 4.

[^c10034821]: 1979 c. 5.

[^c10034841]: Sch. 5 para. 1(2) repealed by Finance Act 1987 (c. 16, SIF12:2), s. 72(7), Sch. 16 Pt. II Note 3

[^c10034851]: Sch. 5 Pt. I para. 2 repealed (3.5.1994 with effect as mentioned in Schedule 3 to the amending Act) by 1994 c. 9, ss. 6, 258, Sch. 3, Sch. 26 Pt. II

[^c10034861]: Sch. 5 Pt I para. 3(1) repealed (3.5.1994 with effect as mentioned in Schedule 3 to the amending Act) by 1994 c. 9, ss. 6, 258, Sch. 3, Sch. 26 Pt. II

[^c10034871]: Sch. 5 para. 8 repealed by Finance Act 1986 (c. 41, SIF 12:2), s. 114(6), Sch. 23 Pt. III Notes (a)(b)

[^c10034891]: Sch. 5 Pt. I para. 9(1) repealed (3.5.1994 with effect as mentioned in Schedule 3 to the amending Act) by 1994 c. 9, ss. 6, 258, Sch. 3, Sch. 26 Pt. II

[^c10034901]: Sch. 5 Pt. I para. 9(2) repealed (1.1.1995) by 1994 c. 9, ss. 19, 258, Sch. 26 Pt. III, Note (with s. 19(3)); S.I. 1994/2679, art. 3

[^c10034831]: 1981 c. 63.

[^c10034911]: 1981 c. 63.

[^c10034921]: Sch. 6 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10034931]: Sch. 7 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10034951]: Sch. 8 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10034971]: Ss. 34–49, 73–77, Schs. 9–13, 18, 22, 23, 25 paras. 7–9 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

[^c10034981]: Schs. 14–17 repealed by Capital Allowances Act 1990 (c.1, SIF 63:1), s. 164(4), Sch. 2

[^c10034991]: Ss. 34–49, 73–77, Schs. 9–13, 18, 22, 23, 25 paras. 7–9 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

[^c10035061]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035091]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035111]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035121]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12). ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035151]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12) ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035021]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035191]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035231]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035161]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035291]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035311]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035321]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035341]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035361]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035381]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch.11 paras. 22, 26(2), 27)

[^c10035401]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1(2), 290, sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035421]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035251]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035461]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035491]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035521]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035541]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035581]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035601]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035551]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035641]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035681]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035611]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035001]: Sch. 19 (paras. 1-23) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035751]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035771]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035781]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) bt Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035791]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035701]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035831]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035841]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), SCh. 11 paras. 22, 26(2), 27)

[^c10035851]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035871]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035881]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035891]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with efffect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035911]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s.289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035931]: Sch. 20 (paras. 1-16) repealed (6.3.192 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036051]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of th 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036061]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains ACt 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), SCh. 11 paras. 22, 26(2), 27)

[^c10036131]: Sch. 20 (paras. 1-16) repealed (6.3.1992) with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036221]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035801]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10035691]: Sch. 20 (paras. 1-16) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036241]: Sch. 21 (paras. 1-4) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036251]: Sch. 21 (paras. 1-4) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036261]: Sch. 21 (paras. 1-4) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036271]: Sch. 21 (paras. 1-4) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036231]: Sch. 21 (paras. 1-4) repealed (6.3.1992 with effect as mentioned in s. 289(1) of the 1992 repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1)(2), 290, Sch. 12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)

[^c10036281]: Ss. 34–49, 73–77, Schs. 9–13, 18, 22, 23, 25 paras. 7–9 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

[^c10036291]: Ss. 34–49, 73–77, Schs. 9–13, 18, 22, 23, 25 paras. 7–9 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

[^c10036301]: 1976 c. 24.

[^c10036311]: 1970 c. 9.

[^c10036321]: 1976 c. 24.

[^c10036331]: 1980 c. 48.

[^c10036341]: Ss. 34–49, 73–77, Schs. 9–13, 18, 22, 23, 25 paras. 7–9 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

[^c10036351]: 1981 c. 35.

[^c10036361]: 1984 c. 51.

[^c10036381]: Sch. 26 para. 14 repealed (1.9.1994 with effect as mentioned in s. 101(1) of the amending Act) by 1994 c. 23, ss. 100(2), Sch. 15

[^c10036391]: Part of the text of ss. 67(2), 72(6), 90(3)-(5), 91(1) and (3), 92(2)(4), 96(1), Sch. 19 paras. 1(2)(3), 2(2), 3(3), 5(5)( a ), 20(2), Sch. 27 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals that may have been made prior to 1.2.1991

[^c10034941]: Sch. 7 para. 1(1) repealed by Finance Act 1988 (c. 39, SIF 40:2), s. 148, Sch. 14 Pt. III

[^c10034961]: 1971 c. 23.

[^key-8bc8f6254eff5a8723f9cb3a614ec2b1]: S. 83(1A) inserted (5.12.2005) by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 41(2)

[^key-b4974c89bbdd25f7b735f84fd1041c95]: Words in s. 83 heading inserted (5.12.2005) by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 41(4)

[^key-98a003465c1546869d683722159ad8ae]: Words in s. 84(5) substituted (5.12.2005) by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 42(2)

[^key-3a210972a37869ef7988a6009b96d7be]: Words in s. 84(6)(a) substituted (5.12.2005) by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 42(3)

[^key-52bb42873e8426989c5442bdddb1a4d0]: Words in s. 84(7) substituted (5.12.2005) by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 42(4)

[^key-31a919953a17184ddcb6fcde96f849c9]: Sch. 3 para. 2 repealed (19.7.2006) by Finance Act 2006 (c. 25), Sch. 26 Pt. 1(1)

[^key-19d7a84b26f4bcd4b12d242358e9ddcf]: S. 10 omitted (21.7.2008) by virtue of Finance Act 2008 (c. 9), s. 114(8)(a)

[^key-7a1a4e480c76f2eee0b2eabdb9a1114f]: S. 82(5) omitted (with effect in accordance with s. 100(3) of the commencing Act) by virtue of Finance Act 2008 (c. 9), s. 100(1)

[^key-8d435d98b9dac2f620873f7ab9c3ca9a]: S. 82(9) omitted (with effect in accordance with s. 100(3) of the commencing Act) by virtue of Finance Act 2008 (c. 9), s. 100(1)

[^key-d8a673270715e3e023a80c6ed9deaf6a]: S. 83(2) omitted (with effect in accordance with s. 99(2) of the commencing Act) by virtue of Finance Act 2008 (c. 9), Sch. 32 para. 2 (with Sch. 32 para. 22(1)(a))

[^key-331a99a947f5dc45838351bf073d89da]: S. 84(8) omitted (with effect in accordance with s. 99(2) of the commencing Act) by virtue of Finance Act 2008 (c. 9), Sch. 32 para. 3(a) (with Sch. 32 para. 22(1)(a))

[^key-e3e1543c3a300d0e83c0e7ec6a832742]: S. 84(9) omitted (with effect in accordance with s. 99(2) of the commencing Act) by virtue of Finance Act 2008 (c. 9), Sch. 32 para. 3(a) (with Sch. 32 para. 22(1)(a))

[^key-53360e055a9125980ef2cf5727fe5d52]: Words in s. 84(11) omitted (with effect in accordance with s. 99(2) of the commencing Act) by virtue of Finance Act 2008 (c. 9), Sch. 32 para. 3(b) (with Sch. 32 para. 22(1)(a))

[^key-465f3f0003b08ed3860616f904e5cedf]: Words in Act substituted (22.4.2011) by The Treaty of Lisbon (Changes in Terminology) Order 2011 (S.I. 2011/1043), arts. 2, 3, 4 (with arts. 3(2)(3),4(2), 6(4)(5))

[^key-2b9d42f3ca884d91c66af34c16912ecf]: S. 87(2) omitted (with effect in accordance with Sch. 39 para. 10(1) of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 39 para. 4(2) (with Sch. 39 paras. 11-13)

[^key-3d9a7400263ebcc45b1f24a87865fe44]: Words in s. 87(5) omitted (with effect in accordance with Sch. 39 para. 10(1) of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 39 para. 4(3) (with Sch. 39 paras. 11-13)

[^key-8d6955460867159b6748bb3247167ee8]: S. 97 repealed (31.1.2013) by Statute Law (Repeals) Act 2013 (c. 2), s. 3(2), Sch. 1 Pt. 10 Group 1

[^key-8b97bba2f0161e8500642aa7f73e9142]: Words in s. 83(1)(a) substituted (6.4.2022) by Divorce, Dissolution and Separation Act 2020 (c. 11), s. 8(1)(8), Sch. para. 49(a); S.I. 2022/283, reg. 2

[^key-26f661b2bcecccfd8cd16420975cbd80]: Words in s. 83(1)(b) substituted (6.4.2022) by Divorce, Dissolution and Separation Act 2020 (c. 11), s. 8(1)(8), Sch. para. 49(b); S.I. 2022/283, reg. 2

Chargeable periods relevant to limit on tax payable and expenditure supplement.

Qualifying asset; exclusion of land and certain buildings etc.

Abolition of development land tax and tax on development gains.

These repeals apply in relation to licences taken out after 19th March 1985.