LegalizeReform history
Finance (No. 2) Act 1992
27 versions
· 1992-07-16
2021-08-01
Finance (No. 2) Act 1992
2020-12-31
Finance (No. 2) Act 1992
2020-12-17
Finance (No. 2) Act 1992
2013-01-31
Finance (No. 2) Act 1992
2011-04-22
Finance (No. 2) Act 1992
2010-04-01
Finance (No. 2) Act 1992
2010-01-25
Finance (No. 2) Act 1992
2009-10-01
Finance (No. 2) Act 1992
2009-07-21
Finance (No. 2) Act 1992
2009-06-01
Finance (No. 2) Act 1992
2009-04-01
Finance (No. 2) Act 1992
2009-02-21
Finance (No. 2) Act 1992
2008-09-01
Finance (No. 2) Act 1992
Changes on 2008-09-01
@@ -60,7 +60,7 @@
##### 2
- (1) Subject to the following provisions of this section, the Commissioners may, in relation to any duties of excise, by regulations make provision (a) conferring an entitlement to drawback of duty in prescribed cases where the Commissioners are satisfied that goods chargeable with duty have not been, and will not be, consumed in the United Kingdom ; and.
- (1) Subject to the following provisions of this section, the Commissioners may, in relation to any duties of excise, by regulations make provision (a) conferring an entitlement to drawback of duty in prescribed cases where the Commissioners are satisfied that goods chargeable with duty have not been, and will not be, consumed in the United Kingdom ; and
- (b) conferring an entitlement to drawback of duty, in prescribed cases, on the shipment as stores, or warehousing in an excise warehouse for use as stores, of goods chargeable with duty
@@ -80,6 +80,14 @@
- (b) for such persons as may be prescribed to be liable to the Commissioners for sums paid or credited to any person in respect of any drawback that has been cancelled in accordance with any such regulations.
- (3A) If entitlement to drawback is cancelled under any provision contained in regulations by virtue of subsection (3) above the Commissioners—
- (a) may assess as being excise duty due from the prescribed person an amount equal to sums paid or credited to any person in respect of the drawback, and
- (b) may notify the prescribed person or his representative accordingly.
- (3B) The reference in subsection (3A) above to the prescribed person is to such person as may be prescribed for the purposes of the subsection by regulations under this section.
- (4) The power of the Commissioners to make regulations under this section shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
- (5) In this section—
@@ -88,7 +96,7 @@
- “*contravention*” includes a failure to comply;
- “*excise warehouse*”, “*goods*”, “*shipment*”, “*stores*” and “*warehousing*” have the same meaningsas in the Customs and Excise Management Act 1979; and
- “*excise warehouse*”, “*goods*”, “*shipment*”, “*stores*” and “*warehousing*” have the same meanings as in the Customs and Excise Management Act 1979; and
- “*prescribed*” means prescribed by regulations under this section.
@@ -4717,7 +4725,7 @@
## Part XII — National loans
#### Powers to fix excise duty point.
#### Power to provide for drawback of excise duty.
#### Tobacco products duty: retail price of cigarettes.
@@ -4727,7 +4735,7 @@
#### Information relating to distributions.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Rights in pursuance of deposits.
#### Employee share ownership trusts.
@@ -4863,17 +4871,17 @@
[^c13516511]: [S. 1(8)](https://www.legislation.gov.uk/ukpga/1992/48/section/1/8) power partly exercised (30.11.1992): 1.12.1992 appointed for specified provisions by [S.I. 1992/2979](https://www.legislation.gov.uk/uksi/1992/2979), [arts. 3](https://www.legislation.gov.uk/uksi/1992/2979/article/3), [4](https://www.legislation.gov.uk/uksi/1992/2979/article/4), [Sch.](https://www.legislation.gov.uk/uksi/1992/2979/schedule) (with transitional provisions). [S. 1(8)](https://www.legislation.gov.uk/ukpga/1992/48/section/1/8) power partly exercised (17.12.1992): 1.1.1993 appointed for specified provisions by [S.I. 1992/3261](https://www.legislation.gov.uk/uksi/1992/3261), [art. 3](https://www.legislation.gov.uk/uksi/1992/3261/article/3), [Sch.](https://www.legislation.gov.uk/uksi/1992/3261/schedule) (with transitional provisions). [S. 1(8)](https://www.legislation.gov.uk/ukpga/1992/48/section/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](https://www.legislation.gov.uk/ukpga/1992/48/section/2) wholly in force at 1.6.1993 S. 2 not in force at Royal assent see [s. 2(6)](https://www.legislation.gov.uk/ukpga/1992/48/section/2/6). S. 2 partly in force at 1.12.1992 by [S.I. 1992/2979](https://www.legislation.gov.uk/uksi/1992/2979), [art. 3](https://www.legislation.gov.uk/uksi/1992/2979/article/3), [Sch. Pt. I](https://www.legislation.gov.uk/uksi/1992/2979/schedule/part/I). S. 2 wholly in force at 1.6.1993 by [S.I. 1993/1341](https://www.legislation.gov.uk/uksi/1993/1341), [art. 2](https://www.legislation.gov.uk/uksi/1993/1341/article/2), [Sch.](https://www.legislation.gov.uk/uksi/1993/1341/schedule)
[^c13516641]: Words in [s. 2(1)](https://www.legislation.gov.uk/ukpga/1992/48/section/2/1) inserted (27.7.1999) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 11(1)](https://www.legislation.gov.uk/ukpga/1999/16/section/11/1)
[^c13516651]: Words in [s. 2(1)](https://www.legislation.gov.uk/ukpga/1992/48/section/2/1) and s. 2(1)(b) inserted (27.7.1999) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 11(1)](https://www.legislation.gov.uk/ukpga/1999/16/section/11/1)
[^c13516661]: Words in [s. 2(5)](https://www.legislation.gov.uk/ukpga/1992/48/section/2/5) substituted (27.7.1999) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 11(2)](https://www.legislation.gov.uk/ukpga/1999/16/section/11/2)
[^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](https://www.legislation.gov.uk/uksi/1992/2979), [art. 3](https://www.legislation.gov.uk/uksi/1992/2979/article/3), [Sch. Pt. I](https://www.legislation.gov.uk/uksi/1992/2979/schedule/part/I). S. 2 wholly in force at 1.6.1993 by [S.I. 1993/1341](https://www.legislation.gov.uk/uksi/1993/1341), [art. 2](https://www.legislation.gov.uk/uksi/1993/1341/article/2), [Sch.](https://www.legislation.gov.uk/uksi/1993/1341/schedule)
[^c13516641]: Words in s. 2(1) inserted (27.7.1999) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 11(1)](https://www.legislation.gov.uk/ukpga/1999/16/section/11/1)
[^c13516651]: Words in s. 2(1) and s. 2(1)(b) inserted (27.7.1999) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 11(1)](https://www.legislation.gov.uk/ukpga/1999/16/section/11/1)
[^c13516661]: Words in s. 2(5) substituted (27.7.1999) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 11(2)](https://www.legislation.gov.uk/ukpga/1999/16/section/11/2)
[^c13516671]: [1979 c. 2](https://www.legislation.gov.uk/ukpga/1979/2).
[^c13516681]: [S. 2(6)](https://www.legislation.gov.uk/ukpga/1992/48/section/2/6) power fully exercised (30.11.1992): 1.12.1992 appointed day by [S.I. 1992/2979](https://www.legislation.gov.uk/uksi/1992/2979), [art. 3](https://www.legislation.gov.uk/uksi/1992/2979/article/3), [Sch. Pt. I](https://www.legislation.gov.uk/uksi/1992/2979/schedule/part/I) (with transitional provisions).
[^c13516681]: S. 2(6) power fully exercised (30.11.1992): 1.12.1992 appointed day by [S.I. 1992/2979](https://www.legislation.gov.uk/uksi/1992/2979), [art. 3](https://www.legislation.gov.uk/uksi/1992/2979/article/3), [Sch. Pt. I](https://www.legislation.gov.uk/uksi/1992/2979/schedule/part/I) (with transitional provisions).
[^c13516691]: [S. 3](https://www.legislation.gov.uk/ukpga/1992/48/section/3) wholly in force at 9.12.1992 see [s. 3(2)](https://www.legislation.gov.uk/ukpga/1992/48/section/3/2) and [S.I. 1992/3104](https://www.legislation.gov.uk/uksi/1992/3104), [art. 2(1)](https://www.legislation.gov.uk/uksi/1992/3104/article/2/1).
@@ -5511,76 +5519,80 @@
[^key-cad7656a9dc80c3518cbe6a72896cc56]: Sch. 17 para. 5(9) omitted (21.7.2008) (with effect in accordance with Sch. 2 para. 71 of the amending Act) by virtue of [Finance Act 2008 (c. 9)](https://www.legislation.gov.uk/ukpga/2008/9), [Sch. 2 para. 70(a)(iii)](https://www.legislation.gov.uk/ukpga/2008/9/schedule/2/paragraph/70/a/iii)
#### Enforcement powers.
[^key-511ff78ff59f4983998bc656e5f58ae3]: S. 2(3)(b) and word repealed (1.9.2008 for specified purposes, 1.6.2009 for specified purposes) by [Finance Act 1998 (c. 36)](https://www.legislation.gov.uk/ukpga/1998/36), [Sch. 2 paras. 6(2)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/2/paragraph/6/2), [12](https://www.legislation.gov.uk/ukpga/1998/36/schedule/2/paragraph/12), [Sch. 27(5)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/5); [S.I. 2008/2302](https://www.legislation.gov.uk/uksi/2008/2302), [arts. 2](https://www.legislation.gov.uk/uksi/2008/2302/article/2), [3](https://www.legislation.gov.uk/uksi/2008/2302/article/3); [S.I. 2009/1022](https://www.legislation.gov.uk/uksi/2009/1022), [arts. 2](https://www.legislation.gov.uk/uksi/2009/1022/article/2), [3](https://www.legislation.gov.uk/uksi/2009/1022/article/3)
[^key-0abb333920eebd454f4d482bcb042fef]: S. 2(3A)(3B) inserted (1.9.2008 for specified purposes, 1.6.2009 for specified purposes) by [Finance Act 1998 (c. 36)](https://www.legislation.gov.uk/ukpga/1998/36), [Sch. 2 paras. 6(3)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/2/paragraph/6/3), [12](https://www.legislation.gov.uk/ukpga/1998/36/schedule/2/paragraph/12); [S.I. 2008/2302](https://www.legislation.gov.uk/uksi/2008/2302), [arts. 2](https://www.legislation.gov.uk/uksi/2008/2302/article/2), [3](https://www.legislation.gov.uk/uksi/2008/2302/article/3); [S.I. 2009/1022](https://www.legislation.gov.uk/uksi/2009/1022), [arts. 2](https://www.legislation.gov.uk/uksi/2009/1022/article/2), [3](https://www.legislation.gov.uk/uksi/2009/1022/article/3)
#### Protection of revenues derived from excise duties.
#### Tobacco products duty: retail price of cigarettes.
#### Search of aircraft.
#### Amendments relating to new beer duty regime.
#### Vehicles excise duty: goods vehicles.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Powers of inspection.
#### Employee share schemes: special benefits.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Transfer of a UK trade: amendment of 1970 Act.
#### Friendly societies.
#### Qualifying maintenance payments: maintenance assessments etc.
#### Friendly societies.
#### Qualifying maintenance payments: extension to member States.
These repeals have effect as from 1st January 1993.
#### Transfer of a UK trade: amendment of 1970 Act.
#### Foreign earnings.
#### Foreign earnings.
These repeals have effect as from 1st January 1993.
#### Powers of inspection.
#### Information relating to distributions.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Transfer of a UK trade: amendment of 1970 Act.
#### Oil extraction activities: extended transportation.
#### Friendly societies.
These repeals have effect as from 1st January 1993.
This repeal has effect in accordance with section 11 of this Act.
#### Charge and rate of corporation tax for 1992.
#### Employee share schemes: special benefits.
#### Transfer of a non-UK trade: amendment of 1970 Act.
#### Oil extraction activities: extended transportation.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Transfer of a UK trade: amendment of 1970 Act.
#### Friendly societies.
#### Qualifying maintenance payments: maintenance assessments etc.
#### Friendly societies.
#### Qualifying maintenance payments: extension to member States.
These repeals have effect as from 1st January 1993.
#### Transfer of a UK trade: amendment of 1970 Act.
#### Foreign earnings.
#### Foreign earnings.
These repeals have effect as from 1st January 1993.
#### Transfer of a non-UK trade: amendment of 1970 Act.
#### The Arbitration Convention.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Information relating to distributions.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Transfer of a UK trade: amendment of 1970 Act.
#### Oil extraction activities: extended transportation.
#### Friendly societies.
These repeals have effect as from 1st January 1993.
This repeal has effect in accordance with section 11 of this Act.
#### Married couple’s allowance etc.
#### Employee share ownership trusts.
#### Transfer of a non-UK trade: amendment of 1970 Act.
#### Foreign earnings.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
These repeals have effect as from 1st January 1993.
These repeals have effect as from 1st January 1993.
#### Transfer of a UK trade: amendment of 1970 Act.
#### Transfer of a non-UK trade.
#### Friendly societies.
These repeals have effect as from 1st January 1993.
2008-07-21
Finance (No. 2) Act 1992
2007-07-19
Finance (No. 2) Act 1992
2007-04-06
Finance (No. 2) Act 1992
2006-12-31
Finance (No. 2) Act 1992
2006-07-19
Finance (No. 2) Act 1992
2006-03-30
Finance (No. 2) Act 1992
2005-04-07
Finance (No. 2) Act 1992
2005-04-06
Finance (No. 2) Act 1992
2004-12-02
Finance (No. 2) Act 1992
2004-09-17
Finance (No. 2) Act 1992
2003-04-06
Finance (No. 2) Act 1992
2002-07-24
Finance (No. 2) Act 1992
1995-05-01
Finance (No. 2) Act 1992
1992-07-16
Finance (No. 2) Act 1992
original version
Text at this date