Finance (No. 2) Act 1992

In Schedule 20 to the Finance Act 1986 (gifts with reservation) in paragraph 8(1A)(a) (which refers to shares and securities qualifying for 50 per cent. business property relief) for the words from “within paragraph (b)" to “relief)" there shall be substituted “ within paragraph (b), (bb) or (cc) of section 105(1) of the 1984 Act (certain shares or securities qualifying for relief) ”.

Commencement

8

Subject to paragraph 9 below, the amendments made by this Schedule shall have effect in relation to transfers of value made, and other events occurring, on or after 10th March 1992.

9

• (1) This paragraph applies where by reason of a death occurring on or after 10th March 1992—

• (a) a potentially exempt transfer made before that date proves to be a chargeable transfer, or

• (b) additional tax falls to be calculated in respect of a chargeable transfer (other than a potentially exempt transfer) made before that date and within seven years of the death.

• (2) Subject to sub-paragraph (3) below, for the purposes of sections 113A and 113B of the Inheritance Tax Act 1984, it shall be assumed—

• (a) that the amendments made by this Schedule came into effect at the time the transfer was made, and

• (b) (in a case within sub-paragraph (1)(b) above) that so much of the value transferred as would have been reduced in accordance with Chapter I of Part V of that Act as amended by this Schedule was so reduced.

• (3) Where, disregarding the amendments made by this Schedule, any shares or securities transferred fell within section 105(1)(b) of that Act in relation to the transfer, those amendments shall be disregarded in determining whether section 113A(3A) applies to the shares or securities.

• (4) This paragraph shall be construed as if it were contained in Chapter I of Part V of that Act.

SCHEDULE 15

THE OIL TAXATION ACT 1975

1

In section 2 (assessable profits and allowable losses), in subsection (5A) (gas exported from a place on land in the United Kingdom) for the words from “required", in the second place where it occurs, to the end of the subsection there shall be substituted

did not require the seller to meet any such costs as are mentioned above but did require the gas to be delivered— (i) in the case of gas extracted in the United Kingdom, at the place of extraction; or (ii) in the case of gas extracted from strata in the sea bed and subsoil of the territorial sea of the United Kingdom or of a designated area, at the place in the United Kingdom at which the seller could reasonably be expected to deliver it or, if there is more than one such place, the one nearest to the place of extraction.

2

• (1) In section 3 (allowance of expenditure), in subsection (1), in paragraph (f) (transportation costs)—

• (a) after the words “transporting it" there shall be inserted “ (i) ”; and

• (b) for the words “or to the place in the United Kingdom" there shall be substituted

or (ii) to the place in the United Kingdom or, in the case of oil first landed in another country, to the place in that or any other country (other than the United Kingdom)

.

• (2) In subsection (4) of that section, in paragraph (c) (allowable expenditure does not include cost of acquiring buildings or structures, subject to exceptions)—

• (a) in sub-paragraph (i) the words “of either the territorial sea of the United Kingdom or a designated area" shall be omitted; and

• (b) in sub-paragraph (iv) for the words “in the United Kingdom to the place in the United Kingdom" there shall be substituted “ to the place in the United Kingdom or, in the case of oil first landed in another country, to the place in that or any other country (other than the United Kingdom) ”.

• (3) In subsection (5) of that section (expenditure qualifying for supplement), in each of paragraphs (a) and (c) after the words “United Kingdom" there shall be inserted the words “ or another country ”.

• (4) At the end of subsection (6) of that section (apportionment of expenditure) there shall be added the words

and where, in the case of oil won as mentioned in paragraph (f) of subsection (1) above, expenditure is incurred in transporting— (a) oil first landed in the United Kingdom to a place in the United Kingdom which is not the nearest place referred to in sub-paragraph (ii) of that paragraph, or (b) oil first landed in another country to a place in that or any other country (other than the United Kingdom) which is not the nearest place so referred to, so much of that expenditure as does not exceed what would have been the expenditure incurred in transporting it to that nearest place shall be regarded as falling within the said paragraph (f).

3

In section 12(1) (definitions),—

• (a) in the definitions of “initial storage" and “initial treatment" the words “in the United Kingdom, the territorial sea thereof or a designated area" shall be omitted;

• (b) in the definition of “initial storage" after the words “United Kingdom", in the second place where they occur, there shall be inserted “ or another country ”;

• (c) in the definition of “land", after the words “United Kingdom" there shall be inserted “ or another country ”; and

• (d) in the definition of “production purposes" after the words “United Kingdom", in the last place where they occur, there shall be inserted “ or another country ”.

4

• (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (2) In paragraph 7 of that Schedule (exclusion of off-shore oil in transit to place of first landing in United Kingdom)—

• (a) in the heading the words “in United Kingdom" shall be omitted; and

• (b) in sub-paragraph (a) after the words “United Kingdom" there shall be inserted “ or to the place referred to in section 3(1)(f)(ii) of this Act ”.

THE FINANCE ACT 1982

5

In Schedule 18 (alternative valuation of light gases), in paragraph 3, in sub-paragraph (2) (the terms of the relevant contract), in paragraph (a) after the words “United Kingdom" there shall be inserted the words “ or another country ”.

THE OIL TAXATION ACT 1983

6

In Schedule 1 (extension of allowable expenditure for assets generating receipts), in paragraph 1 (associated assets), in sub-paragraph (4) paragraph (c) and the word “and" immediately preceding it shall be omitted.

7

In Schedule 2 to that Act (supplemental provisions as to receipts from qualifying assets), in paragraph 12 (purchase at place of extraction), in sub-paragraph (3) for paragraphs (a) and (b) there shall be substituted

before it has been transported— (a) to the place at which it is first landed in the United Kingdom; or (b) to the place referred to in section 3(1)(f)(ii) of the principal Act

.

8

In Schedule 4 to that Act (receipts attributable to United Kingdom use of foreign field assets), in paragraph 11 there shall be omitted—

• (a) in sub-paragraph (3) the words “and on the further assumption set out in sub-paragraph (4) below"; and

• (b) sub-paragraph (4).

THE FINANCE ACT 1986

9

In Schedule 21 (alternative valuation of light gases), in paragraph 5(1) after the words “(definition of “the relevant contract")" there shall be inserted “ in sub-paragraph (1) ”.

SCHEDULE 16

1

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

Remuneration of General Commissioners etc.

2

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

Jurisdiction

3

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

Practice and procedure

4

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

5

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

Oil taxation appeals

6

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

7

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

Inheritance tax appeals

8

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

SCHEDULE 17

Interpretation

1

• (1) In this Schedule—

• “the final accounting period” means the last complete accounting period of NIE ending before the transfer date;

• “NIE” means Northern Ireland Electricity;

• “the Order” means the Electricity (Northern Ireland) Order 1992;

• “successor company” means a company nominated under Article 69(2) of the Order for the purposes of Article 69(1) of the Order;

• “transfer date” means the day appointed under Article 69(3) of the Order for the purposes of Article 69(4) of the Order;

• “transfer scheme” means a scheme under Article 69(1) of the Order.

• (2) This Schedule, so far as it relates to corporation tax on chargeable gains, shall be construed as one with the Capital Gains Tax Act 1979 or, where appropriate, the Taxation of Chargeable Gains Act 1992.

• (3) For the purposes of this Schedule a transfer or agreement shall be regarded as made in pursuance of Schedule 10 to the Order if the making of that transfer or agreement is required or authorised by or under paragraph 3 or 5 of that Schedule (allocation of assets and liabilities and variation of transfers by agreement).

Transfer to successor companies: general

2

• (1) Subject to sub-paragraph (2) below, the following provisions shall apply for the purposes of the Corporation Tax Acts, namely-

• (a) any part of the trade carried on by NIE which is transferred by the Order to a successor company shall be treated as having been, at the time when it began to be carried on by NIE or any predecessor and at all times since that time, a separate trade carried on by the successor company;

• (b) the trade carried on by a successor company after the transfer date shall be treated as the same trade as that which, by virtue of paragraph (a) above, it is treated as having carried on before that date;

• (c) all property, rights and liabilities of NIE which are transferred by the Order to a successor company shall be treated as having been, at the time when they became vested in NIE or any predecessor and at all times since that time, property, rights and liabilities of the successor company; and

• (d) anything done by NIE or any predecessor in relation to any property, rights and liabilities which are transferred by the Order to a successor company shall be deemed to have been done by the successor company.

• (2) There shall be made such apportionments of unallowed tax losses, and of expenditure by reference to which capital allowances may be made, as may be specified in the transfer scheme.

• (3) In sub-paragraph (2) above “unallowed tax losses” means any losses, allowances or amounts which, as at the end of the final accounting period, are tax losses within the meaning given by section 400(2)(a), (c) or (d) of the Taxes Act 1988.

• (4) This paragraph shall have effect in relation to accounting periods beginning after the final accounting period.

Roll-over relief

3

Where NIE has before the transfer date disposed of (or of its interest in) any assets used, throughout the period of ownership, wholly or partly for the purposes of the part of its trade transferred by the Order to a successor company, sections 115 to 119 of the Capital Gains Tax Act 1979 or, where appropriate, sections 152 to 156 of the Taxation of Chargeable Gains Act 1992 (roll-over relief on replacement of business assets) shall have effect in relation to that disposal as if NIE and the successor company were the same person.

Unallowed capital losses

4

• (1) Any unallowed capital losses of NIE shall be apportioned between the successor companies in accordance with the transfer scheme; and any such losses which are so apportioned to a successor company shall be treated as allowable capital losses accruing to the successor company on the disposal of an asset on the transfer date.

• (2) In sub-paragraph (1) above—

• “allowable capital losses” means losses which are allowable losses for the purposes of corporation tax on chargeable gains;

• “unallowed capital losses” means any allowable capital losses which have accrued to NIE before the transfer date, in so far as they have not been allowed as deductions from chargeable gains.

Arrangements in favour of other successor companies

5

• (1) Sub-paragraph (3) below applies to any disposal of an asset which is effected, and sub-paragraphs (4) to (6) below apply to any lease which is granted, in pursuance of a provision included in the transfer scheme by virtue of Article 70(1)(c) of the Order (scheme may require successor company to enter into arrangements in favour of any other successor company).

• (2) Sub-paragraph (3) below also applies to any disposal of an asset which is effected in pursuance of an agreement under paragraph 3(2) of Schedule 10 to the Order and which is either the grant of a lease of land or the creation of other liabilities and rights over land.

• (3) A disposal to which this sub-paragraph applies shall be taken for the purposes of corporation tax on chargeable gains to be effected for a consideration of such amount as would secure that on the disposal neither a gain nor a loss would accrue to the successor company making the disposal.

• (4) Section 38(1)(a) and (4) of the Taxes Act 1988 (rules for ascertaining duration of leases) shall be disregarded in determining for the purposes of section 290 of the Capital Allowances Act 2001 (election to treat grant of lease exceeding 50 years as sale) whether a lease to which this sub-paragraph applies is a lease which satisfies the condition in subsection (1)(c) of that section; in relation to any such lease which is, on that basis, such a long lease—

• (a) the lessee shall be deemed for the purposes of that section to have paid in consideration for the grant of the lease a capital sum of an amount equal to the residue of expenditure immediately before the lease takes effect, computed in accordance with Chapter 8 of Part 3 of that Act, and

• (b) section 291(1) of that Act shall be disregarded;

and sections 567 to 570 of that Act shall not apply in relation to the grant of a lease in respect of which, by virtue of this sub-paragraph, an election is made under section 290 of that Act.

• (5) Where the conditions in section 183(1)(a) and (b) of the Capital Allowances Act (incoming lessee where lessor entitled to allowances) are fulfilled in relation to a lease to which this sub-paragraph applies—

• (a) the lessee shall be deemed to have given as consideration for the lease a capital sum which falls to be treated for the purposes of Part 2 of that Act as expenditure on the provision of the fixture concerned; and

• (b) the amount of that capital sum shall be equal to the amount of expenditure which is attributed to the fixture concerned for the purposes of apportioning, in accordance with the transfer scheme, expenditure by reference to which capital allowances may be made;. . .

• (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (6) Section 38(1)(a) and (4) of the Taxes Act 1988 shall be disregarded in ascertaining for the purposes of section 35 of that Act (Schedule D charge on assignment of lease granted at an undervalue) the duration of a lease to which this sub-paragraph applies.

• (7) Subject to the repeals made by the Taxation of Chargeable Gains Act 1992, in section 68(7A) of the Finance Act 1985 (modification of indexation allowance: list of no gain/no loss provisions) there shall be added after paragraph (i) the words

and (j) paragraph 5(3) of Schedule 17 to the Finance (No. 2) Act 1992.

• (8) Subject to the repeals made by the Taxation of Chargeable Gains Act 1992, in paragraph 1(3) of Schedule 8 to the Finance Act 1988 (rebasing to 1982: list of no gain/no loss provisions) there shall be added after paragraph (i) the words

and (j) paragraph 5(3) of Schedule 17 to the Finance (No. 2) Act 1992.

• (9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Restriction of losses by reference to capital allowances

6

• (1) Where by virtue of sub-paragraph (4) of paragraph 5 above an election is made under section 290 of the Capital Allowances Act 2001 in respect of a lease to which that sub-paragraph applies, sub-paragraph (2) and, if the relevant condition is met, sub-paragraph (3) below shall apply; and for the purposes of this sub-paragraph the relevant condition is that, as a result of a disposal by the lessee in relevant circumstances, section 275(1) of the Income and Corporation Taxes Act 1970 or section 174(1) of the Taxation of Chargeable Gains Act 1992 applies in relation to a subsequent disposal.

• (2) Where this sub-paragraph applies, section 34 of the Capital Gains Tax Act 1979 or, as the case may be, section 41 of the Taxation of Chargeable Gains Act 1992 (restriction of losses by reference to capital allowances etc.) shall apply in relation to any disposal by the lessee as if any capital allowance made to—

• (a) NIE or any predecessor, or

• (b) the lessor,

in respect of expenditure incurred on the construction of the building or structure comprised in the lease had been made to the lessee.

• (3) Where this sub-paragraph applies, section 275(1) of the Income and Corporation Taxes Act 1970 or, as the case may be, section 174(1) of the Taxation of Chargeable Gains Act 1992 shall apply as if the reference to capital allowances made to the person from which the asset was acquired included capital allowances made to—

• (a) NIE or any predecessor, or

• (b) the lessor,

in respect of expenditure incurred on the construction of the building or structure comprised in the lease but only so far as not taken into account in relation to any previous disposal.

• (4) Where by virtue of sub-paragraph (5) of paragraph 5 above an election is made under section 183 of the Capital Allowances Act 2001 in respect of a lease to which that sub-paragraph applies, sub-paragraph (5) and, if the relevant condition is met, sub-paragraph (6) below shall apply; and the relevant condition for the purposes of this sub-paragraph is the same as the relevant condition for the purposes of sub-paragraph (1) above.

• (5) Where this sub-paragraph applies, section 34 of the Capital Gains Tax Act 1979 or, as the case may be, section 41 of the Taxation of Chargeable Gains Act 1992 shall apply in relation to any disposal by the lessee as if any capital allowance made to—

• (a) NIE or any predecessor, or

• (b) the lessor,

in respect of expenditure incurred on the provision of the fixture comprised in the lease had been made to the lessee.

• (6) Where this sub-paragraph applies, section 275(1) of the Income and Corporation Taxes Act 1970 or, as the case may be, section 174(1) of the Taxation of Chargeable Gains Act 1992 shall apply as if the reference to capital allowances made to the person from which the asset was acquired included capital allowances made to—

• (a) NIE or any predecessor, or

• (b) the lessor,

in respect of expenditure incurred on the provision of the fixture comprised in the lease but only so far as not taken into account in relation to any previous disposal.

Transfers between successor companies

7

Where any property, rights and liabilities transferred by the Order to a successor company (the first company) are, in pursuance of Schedule 10 to the Order, transferred to another successor company (the second company)-

• (a) the preceding provisions of this Schedule shall have effect as if the transfer effected by the Order had been a transfer to the second company; and

• (b) anything which, in relation to the property, rights and liabilities transferred in pursuance of that Schedule, was done by the first company for the purposes of its trade shall be deemed to have been done by the second company for the purposes of its trade.

Apportionments etc.

8

• (1) This paragraph applies where any apportionment or other matter arising under the preceding provisions of this Schedule appears to be material as respects the liability to tax (for whatever period) of two or more successor companies.

• (2) Any question which arises as to the manner in which the apportionment is to be made or the matter is to be dealt with shall be determined, for the purposes of the tax of the successor companies concerned as if it were an appeal, and each of the successor companies shall be entitled to be a party to any proceedings —

• (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Securities of successor companies

9

• (1) Any share issued by a successor company in pursuance of Article 73 of the Order (initial government holding in successor companies) shall be treated for the purposes of the Corporation Tax Acts as if it had been issued wholly in consideration of a subscription paid to the company of an amount equal to the nominal value of the share.

• (2) Any debenture issued by a successor company in pursuance of Article 73 of the Order shall be treated for the purposes of the Corporation Tax Acts as if it had been issued—

• (a) wholly in consideration of a loan made to the company of an amount equal to the principal sum payable under the debenture; and

• (b) wholly and exclusively for the purposes of the trade carried on by the company.

• (3) If any such debenture includes provision for the payment of a sum expressed as interest in respect of a period which falls wholly or partly before the issue of the debenture, any payment made in pursuance of that provision in respect of that period shall be treated for the purposes of the Corporation Tax Acts as if the debenture had been issued at the commencement of that period and, accordingly, as interest on the principal sum payable under the debenture.

Stamp duty reserve tax

10

• (1) No agreement made for the purposes of or for purposes connected with the transfer scheme shall give rise to a charge to stamp duty reserve tax.

• (2) No agreement which is made in pursuance of Schedule 10 to the Order shall give rise to a charge to stamp duty reserve tax.

• (3) This paragraph shall be deemed to have come into force on 1st April 1992.

SCHEDULE 18

Part I — Excise duties: general

Part II — Matches and mechanical lighters

Part III — Vehicles excise duty: goods vehicles

Part IV — Vehicles excise duty: disabled persons

Part V — Value added tax

(1) Abolition of fiscal frontiers

(2) — Fuel and power

Part VI — Car tax

Part VII — Income tax and corporation tax

(1) Married couple’s allowance etc.

(2) Charities: powers of inspection

(3) Returns of Interest

(4) Distributions

(5) Deep gain securities

(6) Transfers of trade

(7) Oil extraction

(8) Paying and collecting agents etc.

(9) Enterprise zones

Part VIII — Oil taxation

Part IX — General and Special Commissioners

Part X — Northern Ireland Electricity

Part XI — Treasury bills

Part XII — National loans

Power to provide for drawback of excise duty.

Tobacco products duty: retail price of cigarettes.

Amendments relating to new beer duty regime.

Vehicles excise duty: goods vehicles.

Information relating to distributions.

Rights in pursuance of deposits.

Employee share ownership trusts.

Deep gain securities.

Employee share ownership trusts.

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

40A

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

40B

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

40C

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

40D

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

Transfer of a UK trade: amendment of 1970 Act.

Transfer of a non-UK trade.

Qualifying maintenance payments: maintenance assessments etc.

Friendly societies.

Qualifying maintenance payments: maintenance assessments etc.

Qualifying maintenance payments: maintenance assessments etc.

Films etc.

Enterprise zones.

Increase of rate bands.

Treasury bills.

12

In section 465 (old societies) the following subsection shall be added at the end—

(6) If a registered friendly society in respect of which a direction is in force under subsection (4) above becomes an incorporated friendly society, the direction shall continue to have effect, so that the incorporated friendly society shall be treated for the purposes of this Act as a new society.

21

The Taxation of Chargeable Gains Act 1992 shall be amended as follows.

• (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (3) After section 217 there shall be inserted—

(217A) (1) This section and section 217B apply where a registered friendly society is incorporated under the Friendly Societies Act 1992 (“the 1992 Act"). (2) In this section and section 217B— (a) “the registered society” means the society before the incorporation, and (b) “the incorporated society” means the society after the incorporation. (3) For the purposes of corporation tax on chargeable gains— (a) any asset of the registered society that by virtue of section 6(2) or (3) of the 1992 Act is transferred to the incorporated society, (b) any asset of a branch of the registered society that by virtue of section 6(4) of the 1992 Act is transferred to the incorporated society, and (c) any asset of a branch of the registered society that is identified in a scheme under section 6(5) of the 1992 Act, shall be taken to be disposed of by the registered society or branch and acquired by the incorporated society on the incorporation for a consideration of such amount as to secure that on the disposal neither a gain nor a loss accrues to the registered society or branch. (217B) (1) In this section, “change of membership” means a change effected by Schedule 4 to the 1992 Act whereby a member of the registered society or of a branch of the registered society becomes a member of the incorporated society or of a branch of the incorporated society. (2) For the purposes of this Act, a change of membership shall not be taken to involve any disposal or acquisition of an asset by the member concerned, but all the interests and rights in the incorporated society or a branch of the incorporated society that he has immediately after the change, taken together, shall be treated as a single asset which— (a) was acquired by the first relevant acquisition, and (b) was added to by any subsequent relevant acquisitions. (3) In subsection (2) above, “relevant acquisition” means an acquisition by which the member acquired any interest or right in the registered society or a branch of the registered society that he had immediately before the change of membership. (217C) (1) Where any asset acquired on a disposal to which section 217A(3) applies is subsequently disposed of by the incorporated society, section 41 shall apply as if any capital allowance made to the registered society in respect of the asset had been made to the incorporated society. (2) If the disposal by the incorporated society is in relevant circumstances for the purposes of section 174(1), the disposal to which section 217A(3) applies shall for those purposes be taken to have been a previous transfer of the asset in relevant circumstances.

1

The repeal of section 100H(1)(f) of the Customs and Excise Management Act 1979 comes into force with paragraph 6 of Schedule 1 to this Act and is subject to sub-paragraph (2) of that paragraph.

2

The repeals in section 117 of the Customs and Excise Management Act 1979 come into force with paragraph 5 of Schedule 2 to this Act.

3

The repeal of section 41A(7)(d) of the Alcoholic Liquor Duties Act 1979 comes into force with paragraph 10 of Schedule 1 to this Act and is subject to sub-paragraph (2) of that paragraph.

4

The repeals of section 52 of the Alcoholic Liquor Duties Act 1979 and of paragraph 17 of Schedule 2 to the Finance Act 1991 come into force with so much of paragraph 8 of Schedule 2 to this Act as inserts a new section 170B in the Customs and Excise Management Act 1979.

5

The repeal in Schedule 8 to the Finance Act 1981 comes into force with paragraph 2(6) of Schedule 2 to this Act.

6

The repeals of paragraphs 2 and 6 of Schedule 3 to the Finance Act 1986 come into force with sub-paragraphs (1) and (3), respectively, of paragraph 2 of Schedule 2 to this Act.

These repeals have effect as from 1st January 1993.

(2) Fuel and power

(1) Married couple’s allowance etc.

(2) Charities: powers of inspection

(3) Returns of Interest

(4) Distributions

(5) Deep gain securities

(6) Transfers of trade

(7) Oil extraction

(8) Paying and collecting agents etc.

(9) Enterprise zones

Editorial notes

[^c13516481]: Act partly in force at Royal Assent; for exceptions see ss. 1(8), 2(6), 3(2), 12(2), 14(3), 16(6), 62(4) and Sch. 9 para. 22.

[^c13516491]: S. 1(1)-(7) wholly in force (and power in s. 1(8) exercisable by virtue of Interpretation Act 1978 (c. 30), s. 13); s. 1 not in force at Royal Assent see s. 1(8); s. 1(1)-(4)(6)(7) wholly in force and s. 1(5) in force for certain purposes at 1.12.1992 by S.I. 1992/2979, art. 3, Sch. Pt. I; s. 1(5) in force for further purposes at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7) and s. 1(5) wholly in force at 1.6.1993 by S.I. 1993/1341, art. 2, Sch.

[^c13516501]: 1979 c. 2.

[^c13516511]: S. 1(8) power partly exercised (30.11.1992): 1.12.1992 appointed for specified provisions by S.I. 1992/2979, arts. 3, 4, Sch. (with transitional provisions). S. 1(8) power partly exercised (17.12.1992): 1.1.1993 appointed for specified provisions by S.I. 1992/3261, art. 3, Sch. (with transitional provisions). S. 1(8) power partly exercised (21.5.1993): 1.6.1993 appointed for specified provisions y S.I. 1993.1341, art. 2, Sch.

[^c13516631]: S. 2 wholly in force at 1.6.1993 S. 2 not in force at Royal assent see s. 2(6). S. 2 partly in force at 1.12.1992 by S.I. 1992/2979, art. 3, Sch. Pt. I. S. 2 wholly in force at 1.6.1993 by S.I. 1993/1341, art. 2, Sch.

[^c13516641]: Words in s. 2(1) inserted (27.7.1999) by 1999 c. 16, s. 11(1)

[^c13516651]: Words in s. 2(1) and s. 2(1)(b) inserted (27.7.1999) by 1999 c. 16, s. 11(1)

[^c13516661]: Words in s. 2(5) substituted (27.7.1999) by 1999 c. 16, s. 11(2)

[^c13516671]: 1979 c. 2.

[^c13516681]: S. 2(6) power fully exercised (30.11.1992): 1.12.1992 appointed day by S.I. 1992/2979, art. 3, Sch. Pt. I (with transitional provisions).

[^c13516691]: S. 3 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13516701]: S. 3(2) power partly exercised (8.12.1992): 9.12.1992 appointed for specified provisions by S.I. 1992/3104, art. 2. S. 3(2): power partly exercised (21.5.1993): 1.6.1993 appointed for specified provisions by S.I. 1993/1341, art. 2, Sch.

[^c13516711]: 1979 c. 2.

[^c13516721]: 1979 c. 2.

[^c13516731]: 1979 c. 6.

[^c13516741]: 1981 c. 63.

[^c13516751]: 1979 c. 7.

[^c13516761]: 1991 c. 31.

[^c13516771]: 1979 c. 2.

[^c13516891]: S. 11(1)(3)(10)(11) repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt. I (with s. 57(4))

[^c13516901]: S. 11(2) and (4)-(9) repealed (8.11.1993) by S.I. 1993/2452, art. 3, Sch. 2

[^c13517031]: S. 12 repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt. I (with s. 57(4))

[^c13517071]: S. 13 repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt I (with s. 57(4))

[^c13517131]: S. 14 wholly in force; s. 14 not in force at Royal Assent see s. 14(3); s. 14(2) in force for certain purposes at 1.8.1992 by S.I. 1992/1867, art. 3, Sch. Pt. I; s. 14(2) in force for certain purposes at 1.12.1992 by S.I. 1992/2979, art. 3, Sch. Pt. II; S. 14 in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3 (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13517141]: S. 14(1)(3)-(6) repealed (1.9.1994) by 1994 c. 23, ss. 100(2), 101(1), Sch. 15

[^c13517151]: 1983 c. 55.

[^c13517161]: 1985 c. 54.

[^c13517231]: S. 15 repealed (1.9.1994) by 1994 c. 23, ss. 100(2), 101(1), Sch. 15

[^c13517281]: S. 16 repealed (1.9.1994) by 1994 c. 23, ss. 100(2), 101(1), Sch. 15

[^c13517311]: S. 17 repealed (1.9.1994) by 1994 c. 23, ss. 100(2), 101(1), Sch. 15

[^c13517321]: S. 18 deemed never to have been enacted by virtue of Car Tax (Abolition) Act 1992 (c. 58), ss. 4, 5

[^c13517331]: 1983 c. 53.

[^c13517341]: S. 18(2) power fully exercised (30.7.1992): 1.1.1993 appointed day by S.I. 1992/1867, art. 4, Sch. Pt. II.

[^c13517501]: 1970 c. 9.

[^c13517521]: S. 19(5) and words in s. 19(3) repealed (3.5.1994 with effect in accordance with s. 81(6) of the repealing Act) by 1994 c. 9, s. 258, Sch. 26 Pt. V(2), Note

[^c13517541]: S. 19(4) repealed (in force in accordance with s. 73 and Sch. 6 of the repealing Act) by 1996 c. 8, s. 205, Sch. 41 Pt. V(1), Note(1)

[^c13517591]: S. 23 repealed (27.7.1999 with effect for the year 1999-00 and subsequent years of assessment) by 1999 c. 16, s. 139, Sch. 20 Pt. III(1), Note

[^c13517631]: S. 25(1) repealed (28.7.2000 with effect as mentioned in Sch. 40 Pt. II(12) Note 11 of the amending Act) by 2000 c. 17, s. 156, Sch. 40 Pt. II(12)

[^c13517641]: 1992 c. 12.

[^c13517651]: 1970 c. 10.

[^c13517671]: S. 26 repealed (27.7.1993 with effect in accordance with s. 67 as mentioned in Sch. 23 Pt. III Note) by 1993 c. 34, s. 213, Sch. 23 Pt.III Note

[^c13517681]: S. 27 repealed (1.5.1995 with effect for the year 1995-96 and subsequent years of assessment) by 1995 c. 4, s. 162, Sch. 29 Pt. VIII(8), Note

[^c13517691]: 1970 c. 9.

[^c13517701]: 1990 c. 29.

[^c13517711]: 1970 c. 9.

[^c13517721]: S. 30 repealed (29.4.1996 with effect in accordance with Sch. 7 of the repealing Act) by 1996 c. 8, s. 205, Sch. 41 Pt. V(2) Note

[^c13517731]: S. 33 repealed (29.4.1996 with effect in accordance with ss. 80-105 of the repealing Act) by 1996 c. 8, s. 205, Sch. 41 Pt V(3), Note

[^c13517761]: S. 35(1) repealed (24.7.2002 with effect as mentioned in Sch. 9 paras. 7, 8 of the amending Act) by 2002 c. 23, s. 141, Sch. 40 Pt. 3(2)

[^c13517771]: 1979 c. 14.

[^c13517781]: 1989 c. 26.

[^c13517801]: S. 38 repealed (3.5.1994 with effect in relation to shares issued on or after 1.1.1994) by 1994 c. 9, s. 258, Sch. 26 Pt. V(17), Note

[^c13517821]: S. 39 repealed (3.5.1994 with effect in relation to shares issued on or after 1.1.1994) by 1994 c. 9, s. 258, Sch. 26 Pt. V(17), Note

[^c13517841]: S. 40 repealed (3.5.1994 with effect in relation to shares issued on or after 1.1.1994) by 1994 c. 9, s. 258, Sch. 26 Pt. V(17), Note

[^c13518441]: 1992 c. 12.

[^c13518451]: 1992 c. 12.

[^c13518461]: 1992 c. 12.

[^c13518561]: 1989 c. 26.

[^c13518571]: S. 57 repealed (31.7.1998 with effect in accordance with s. 38(2)(3) of the repealing Act) by 1998 c. 36, s. 165, Sch. 27 Pt. III(4), Note

[^c13518581]: S. 58 repealed (31.7.1998 with effect in accordance with s. 38(2)(3) of the repealing Act) by 1998 c. 36, s. 165, Sch. 27 Pt. III(4), Note

[^c13519021]: S. 67 repealed (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 579(1), 580, Sch. 4

[^c13519051]: S. 68 repealed (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 579(1), 580, Sch. 4

[^c13519071]: S. 69 repealed (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 579(1), 580, Sch. 4

[^c13519081]: S. 70 repealed (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 579(1), 580, Sch. 4

[^c13519101]: S. 71 repealed (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 579(1), 580, Sch. 4

[^c13519111]: 1984 c. 51.

[^c13519121]: 1986 c. 41.

[^c13519131]: 1986 c. 41.

[^c13519141]: 1975 c. 22.

[^c13519171]: S. 78 repealed (31.7.1998 subject as mentioned in Note 1 to the repealing Schedule) by 1998 c. 36, s. 165, Sch. 27 Pt. V(3) Note 1

[^c13519191]: S. 79 repealed (with application in relation to issues made on or after 15.11.1999) by 1998 c. 36, ss. 159, 165, Sch. 27 Pt. V(1), Note; S.I. 1999/2908, art. 2(1)

[^c13519201]: 1968 c. 13.

[^c13519211]: 1988 c. 1.

[^c13519241]: Sch. 1 para. 1 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519251]: Sch. 1 para. 2 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519261]: Sch. 1 para. 3 wholly in force; Sch. 1 not in force at Royal Assent see. s 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519271]: Sch. 1 para. 4 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519281]: Sch. 1 para. 5 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519291]: Sch. 1 para. 6 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519301]: Sch. 1 para. 7 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519311]: Sch. 1 para. 8 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519321]: Sch. 1 para. 12 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519331]: Sch. 1 para. 13 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13519231]: Sch. 1 wholly in force; Sch. 1 not in force at Royal Assent see s. 1(8); Sch. 1 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 1, except paras. 9-11, in force insofar as not already in force at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7) Sch. 1 paras. 9-11 in force at 1.6.1993 by S.I. 1993/1341, art. 2, Sch.

[^c13519351]: Sch. 2 para. 1 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519371]: Sch. 2 para. 2 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519381]: Sch. 2 para. 2(6) 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

[^c13519391]: Sch. 2 para. 3 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519401]: Sch. 2 para. 4 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519421]: Sch. 2 para. 5 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519431]: Words in Sch. 2 para. 5 repealed (1.7.1997) by 1997 c. 16, s. 113, Sch. 18 Pt. V(2); S.I. 1997/1433, art. 2

[^c13519441]: Sch. 2 para. 6 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519451]: Sch. 2 para. 7 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519461]: Sch. 2 para. 8 wholly in force; Sch. 2 para. 8 not in force at Royal Assent see s. 3(2); Sch. 2 para. 8 partly in force at 9.12.1992 by S.I. 1992/3104, art. 2(1)(2), Sch. 2 para. 8 wholly in force at 1.6.1993 by S.I. 1993/1341, art. 2, Sch.

[^c13519471]: Sch. 2 para. 9 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519481]: Sch. 2 para. 10 wholly in force at 9.12.1992 see s. 3(2) and S.I. 1992/3104, art. 2(1).

[^c13519341]: Sch. 2 wholly in force; Sch. 2 not in force at Royal Assent see s. 3(2); Sch. 2 partly in force at 9.12.1992 by S.I. 1992/3104, art. 2, Sch. 2 wholly in force at 1.6.1993 by S.I. 1993/1341, art. 2, Sch.

[^c13519511]: Sch. 3 Pt. I repealed (1.9.1994) by 1994 c. 23, ss. 100(2), 101(1), Sch. 15

[^c13520351]: Sch. 3 Pt. II repealed (1.9.1994) by 1994 c. 23, ss. 100(2), 102(1), Sch. 15

[^c13520481]: Sch. 3 para. 87 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13520491]: Sch. 3 para. 88 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13520501]: Sch. 3 para. 89 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13520511]: Sch. 3 para. 90 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13520531]: Sch. 3 para. 91 repealed (1.9.1994) by 1994 c. 22, ss. 65, 66(1), Sch. 5 Pt. I (with s. 57(4))

[^c13520551]: Sch. 3 para. 92 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13520561]: Sch. 3 para. 93 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13520571]: Sch. 3 para. 94 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13520581]: Sch. 3 para. 95 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.12.1992 by S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).

[^c13520591]: 1985 c. 54.

[^c13519501]: Sch. 3 wholly in force; Sch. 3 not in force at Royal Assent see s. 14(3); Sch. 3 partly in force at 1.8.1992 by S.I. 1992/1867, art. 3, Sch. Pt. I; Sch. 3 partly in force at 1.12.1992 S.I. 1992/2979, art. 4, Sch. Pt. II; Sch. 3 in force, insofar as not already in force, at 1.1.1993 by S.I. 1992/3261, art. 3, Sch. (with transitional provisions in arts. 4, 5, 6, and 7).