Finance Act 1996

Depositary receipts.

Quotation or listing of securities.

Quotation or listing of securities.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Transferee leaving group after replacing transferor as party to loan relationship

12A

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Formation of SE by merger

12B

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

Formation of SE by merger

Formation of SE by merger

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This repeal has effect in accordance with section 15(4) of this Act.

Formation of SE by merger

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

Depositary receipts.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Formation of SE by merger

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

85C

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93C

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This repeal has effect in accordance with section 15(4) of this Act.

Rates of charge expressed as percentages.

Depositary receipts.

Banks.

Setting of rates of interest.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Formation of SE by merger

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This repeal has effect in accordance with section 15(4) of this Act.

Removal of requirement for at least one year’s service.

Removal of requirement for at least one year’s service.

Liability of partners.

Determination of tax where no return delivered.

Investments in housing.

Annual payments under insurance policies: deductions.

Capital redemption business.

Setting of rates of interest.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Formation of SE by merger

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

Retention of original records.

PAYE regulations.

Premiums for leases.

Equalisation reserves.

Setting of rates of interest.

Quotation or listing of securities.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Formation of SE by merger

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This repeal has effect in accordance with section 15(4) of this Act.

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Formation of SE by merger

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

European cross-border merger

12C

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Cross-border transfer of business within European Community

12D

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12E

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12F

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Exchanges, &c.: treatment of loan relationships

12G

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Transparent entities

12H

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12I

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12J

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

Mixing of rebated oil.

Relief for marine voyages.

Pleasure flights.

Increase in general rate.

Old vehicles.

Old vehicles: further provisions.

Exemptions for vehicle testing in Northern Ireland.

Adaptation of aircraft and hovercraft.

Groups: anti-avoidance.

Meaning of “loan relationship” etc.

Charge to tax.

Grant and exercise of share options.

Returns and self assessment.

Liability of partners.

Retention of original records.

Overdue tax and excessive payments by the Board.

Rates of charge expressed as percentages.

Setting of rates of interest.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Partnerships

91H

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91I

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94B

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Transfers to members of electronic transfer systems etc.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Disposals for consideration not fully recognised by accounting practice

11B

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

54A

• (1) HMRC must offer a person (P) a review of a decision that has been notified to P if an appeal lies under section 54 in respect of the decision.

• (2) The offer of the review must be made by notice given to P at the same time as the decision is notified to P.

• (3) This section does not apply to the notification of the conclusions of a review.

54B

• (1) Any person (other than P) who has the right of appeal under section 54 against a decision may require HMRC to review that decision if that person has not appealed to the appeal tribunal under section 54G.

• (2) A notification that such a person requires a review must be made within 30 days of that person becoming aware of the decision.

54C

• (1) HMRC must review a decision if—

• (a) they have offered a review of the decision under section 54A, and

• (b) P notifies HMRC accepting the offer within 30 days from the date of the document containing the notification of the offer.

• (2) But P may not notify acceptance of the offer if P has already appealed to the appeal tribunal under section 54G.

• (3) HMRC must review a decision if a person other than P notifies them under section 54B.

• (4) HMRC shall not be required to review a decision if P, or another person, has appealed to the appeal tribunal under section 54G in respect of the decision.

54D

• (1) If under section 54A, HMRC have offered P a review of a decision, HMRC may within the relevant period notify P that the relevant period is extended.

• (2) If under section 54B another person may require HMRC to review a matter, HMRC may within the relevant period notify the other person that the relevant period is extended.

• (3) If notice is given the relevant period is extended to the end of 30 days from—

• (a) the date of the notice, or

• (b) any other date set out in the notice or a further notice.

• (4) In this section “relevant period” means—

• (a) the period of 30 days referred to in—

• (i) section 54C(1)(b) (in a case falling within subsection (1)), or

• (ii) section 54B(2) (in a case falling within subsection (2)), or

• (b) if notice has been given under subsection (1) or (2), that period as extended (or as most recently extended) in accordance with subsection (3).

54E

• (1) This section applies if—

• (a) HMRC have offered a review of a decision under section 54A and P does not accept the offer within the time allowed under section 54C(1)(b) or 54D(3); or

• (b) a person who requires a review under section 54B does not notify HMRC within the time allowed under that section or section 54D(3).

• (2) HMRC must review the decision under section 54C if—

• (a) after the time allowed, P, or the other person, notifies HMRC in writing requesting a review out of time,

• (b) HMRC are satisfied that P, or the other person, had a reasonable excuse for not accepting the offer or requiring review within the time allowed, and

• (c) HMRC are satisfied that P, or the other person, made the request without unreasonable delay after the excuse had ceased to apply.

• (3) HMRC shall not be required to review a decision if P, or another person, has appealed to the appeal tribunal under section 54G in respect of the decision.

54F

• (1) This section applies if HMRC are required to undertake a review under section 54C or 54E.

• (2) The nature and extent of the review are to be such as appear appropriate to HMRC in the circumstances.

• (3) For the purpose of subsection (2), HMRC must, in particular, have regard to steps taken before the beginning of the review—

• (a) by HMRC in reaching the decision, and

• (b) by any person in seeking to resolve disagreement about the decision.

• (4) The review must take account of any representations made by P, or the other person, at a stage which gives HMRC a reasonable opportunity to consider them.

• (5) The review may conclude that the decision is to be—

• (a) upheld,

• (b) varied, or

• (c) cancelled.

• (6) HMRC must give P, or the other person, notice of the conclusions of the review and their reasoning within—

• (a) a period of 45 days beginning with the relevant date, or

• (b) such other period as HMRC and P, or the other person, may agree.

• (7) In subsection (6) “relevant date” means—

• (a) the date HMRC received P’s notification accepting the offer of a review (in a case falling within section 54A), or

• (b) the date HMRC received notification from another person requiring review (in a case falling within section 54B), or

• (c) the date on which HMRC decided to undertake the review (in a case falling within section 54E).

• (8) Where HMRC are required to undertake a review but do not give notice of the conclusions within the time period specified in subsection (6), the conclusion of the review is deemed to be that the decision is upheld.

• (9) HMRC must notify P, or the other person of any conclusion under subsection (8).

54G

• (1) An appeal under section 54 is to be made to the appeal tribunal before—

• (a) the end of the period of 30 days beginning with—

• (i) in a case where P is the appellant, the date of the document notifying the decision to which the appeal relates, or

• (ii) in a case where a person other than P is the appellant, the date that person becomes aware of the decision, or

• (b) if later, the end of the relevant period (within the meaning of section 54D).

• (2) But that is subject to subsections (3) to (5).

• (3) In a case where HMRC are required to undertake a review under section 54C—

• (a) an appeal may not be made until the conclusion date, and

• (b) any appeal is to be made within the period of 30 days beginning with the conclusion date.

• (4) In a case where HMRC are requested to undertake a review by virtue of section 54E—

• (a) an appeal may not be made to an appeal tribunal—

• (i) unless HMRC have notified P, or the other person, that a review will be undertaken, and

• (ii) if HMRC have notified P, or the other person, that a review will be undertaken, until the conclusion date;

• (b) any appeal where paragraph (a)(ii) applies is to be made within the period of 30 days beginning with the conclusion date;

• (c) if HMRC have notified P, or the other person, that a review will not be undertaken, an appeal may be made only if the appeal tribunal gives permission to do so.

• (5) In a case where section 54F(8) applies, an appeal may be made at any time from the end of the period specified in section 54F(6) to the date 30 days after the conclusion date.

• (6) An appeal may be made after the end of the period specified in subsection (1), (3)(b), (4)(b) or (5) if the appeal tribunal gives permission to do so.

• (7) In this section “conclusion date” means the date of the document notifying the conclusions of the review.

The appropriate allowance.

Notional tax deductions and payments.

Overdue tax and excessive payments by the Board.

Transfers of securities to members of electronic transfer systems etc.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

65A

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Information: material at landfill sites

1A

• (1) Regulations may make provision about giving the Commissioners information relating to material at a landfill site or a part of a landfill site.

• (2) Regulations under this paragraph may require a person to give information.

• (3) Regulations under this paragraph may—

• (a) require a person, or authorise an officer of Revenue and Customs to require a person, to designate a part of a landfill site (an “information area”), and

• (b) require material, or prescribed descriptions of material, to be deposited in an information area.

• (4) Regulations under this paragraph may make provision about information relating to what is done with material.

• (5) Sub-paragraphs (2) to (4) do not prejudice the generality of sub-paragraph (1).

Information: site restoration

1B

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Records: material at landfill sites and other

2A

• (1) Regulations may require a person to make records relating to—

• (a) material at a landfill site or a part of a landfill site, and

• (b) material disposed of elsewhere than at a landfill site.

• (2) Regulations under this paragraph may make provision about records relating to what is done with material.

• (3) Sub-paragraphs (2) to (7) of paragraph 2 apply in relation to regulations under this paragraph as they apply in relation to regulations under paragraph 2.

• (4) But, in the application of paragraph 2(3)(a) in relation to regulations under this paragraph, the reference to registrable persons has effect as a reference to persons.

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This repeal has effect in accordance with section 15(4) of this Act.

Amount of tax.

Taxation of loan relationships.

Retention of original records.

Determination of tax where no return delivered.

Claims for medical insurance and vocational training relief.

Procedure for giving notices.

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Setting of rates of interest.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

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This repeal has effect in accordance with section 15(4) of this Act.

Landfill tax.

Disposals of material

The appropriate allowance.

Returns and self assessment.

Retention of original records.

PAYE regulations.

Claims for medical insurance and vocational training relief.

Interest on overdue tax.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

Mitigation of penalties

25

• (1) Where a person is liable to a penalty under this Part of this Schedule the Commissioners or, on appeal, an appeal tribunal may reduce the penalty to such amount (including nil) as they think proper.

• (2) Where the person concerned satisfies the Commissioners or, on appeal, an appeal tribunal that there is a reasonable excuse for any breach, failure or other conduct, that is a factor which (among other things) may be taken into account under sub-paragraph (1) above.

• (3) In the case of a penalty reduced by the Commissioners under sub-paragraph (1) above an appeal tribunal, on an appeal relating to the penalty, may cancel the whole or any part of the reduction made by the Commissioners.

63A

• (1) This section applies for the purposes of section 42.

• (2) An order may provide that fines must not be treated as qualifying fines unless prescribed conditions are met.

• (3) A condition may relate to any matter the Treasury think fit.

• (4) The conditions may include conditions making provision about—

• (a) the production of a document which includes a statement of the nature of the fines;

• (b) carrying out a specified test on fines proposed to be disposed of as qualifying fines;

• (c) the frequency with which tests are to be carried out on any fines proposed to be disposed of as qualifying fines;

• (d) the frequency with which tests are to be carried out on any fines that come from a particular source and are proposed to be disposed of as qualifying fines;

• (e) the steps to be taken by operators of landfill sites in relation to persons sending fines to be disposed of as qualifying fines.

• (5) The conditions may enable provision to be made by notices issued by the Commissioners in accordance with such provision as is made in the conditions.

• (6) A notice issued as described in subsection (5) may be revoked by a notice issued in the same way.

• (7) If an order includes provision falling within subsection (4)(b), the Commissioners may direct a person to carry out such a test in relation to any fines proposed to be disposed of as qualifying fines.

• (8) In this section “specified” means specified in—

• (a) a condition prescribed under subsection (2), or

• (b) a notice issued as described in subsection (5).

Information: qualifying fines

2B

• (1) Regulations may make provision about giving the Commissioners information about fines proposed to be disposed of, or disposed of, as qualifying fines.

• (2) Regulations under this paragraph may require a person to notify the Commissioners if the result of a test carried out on fines indicates that the fines are not qualifying fines.

Samples: qualifying fines

2C

• (1) Regulations may require persons—

• (a) where a sample is taken from a quantity of fines in order to carry out a test on the fines, to retain a prescribed amount of that sample;

• (b) to preserve fines retained under paragraph (a) for such period not exceeding three months as may be specified in the regulations.

• (2) A duty under regulations under this paragraph to preserve fines may be discharged by taking such steps to preserve them as the Commissioners may specify in writing.

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This repeal has effect in accordance with section 15(4) of this Act.

40A

• (1) For the purposes of this Part, there is a disposal of material if—

• (a) material is disposed of on the surface of land or on a structure set into the surface, or

• (b) material is disposed of under the surface of land.

• (2) For the purposes of subsection (1)(a) and (b) it does not matter whether the material is placed in a container before it is disposed of.

• (3) For the purposes of subsection (1)(b) it does not matter whether the material—

• (a) is covered after it is disposed of, or

• (b) is disposed of in a cavity (such as a cavern or mine).

• (4) If material is disposed of on the surface of land or on a structure set into the surface with a view to the material being covered, the disposal is to be treated as made when the material is disposed of and not when it is covered.

• (5) An order may for the purposes of this Part provide for—

• (a) material to be treated as disposed of in circumstances where it would not otherwise be so treated;

• (b) material to be treated as not disposed of in circumstances where it would otherwise be so treated.

• (6) An order under subsection (5) may, among other things, make provision by reference to—

• (a) descriptions of material;

• (b) the quantities disposed of;

• (c) the nature of the site at which material is disposed of;

• (d) the location of material in a site (for example, whether it is in a discrete unit within the site).

• (7) An order may for the purposes of this Part provide for a prohibited disposal to be treated as a disposal falling within paragraph (b) of section 40(2).

“Prohibited disposal” here means a disposal of material the disposal of which at a landfill site is prohibited by or by virtue of a prescribed enactment.

• (8) An order under this section may make provision subject to exceptions, conditions or other qualifications.

50A

• (1) Where—

• (a) it appears to the Commissioners that a person is liable to pay tax on a taxable disposal, and

• (b) the person is not a registered person,

the Commissioners may assess the amount of tax due from the person to the best of their judgment and notify it to the person.

• (2) An assessment under this section must be accompanied by a notice—

• (a) identifying the land where the disposal was made;

• (b) indicating the date on which the disposal was made or treated as made, or the date on which (or period within which) the Commissioners believe it was made;

• (c) explaining why the Commissioners believe that the person to whom the notification is sent is liable to pay tax on the disposal;

• (d) describing the methods used to calculate the amount of tax, including the method used by the Commissioners to determine the weight of the material disposed of;

• (e) containing any other information prescribed by regulations.

• (3) An assessment under this section is not invalidated by any inaccuracy in the information given in the notice under subsection (2).

• (4) An assessment under this section—

• (a) may relate to more than one taxable disposal;

• (b) may relate to an unascertained number of taxable disposals;

• (c) may relate to taxable disposals at more than one location.

• (5) An assessment under this section shall not be made more than two years after evidence of facts, sufficient in the Commissioners' opinion to justify the making of the assessment, comes to their knowledge.

But where further such evidence comes to their knowledge after the making of an assessment under this section another assessment may be made under this section in addition to any earlier assessment.

• (6) Where an amount has been assessed and notified to a person under this section it shall be deemed to be an amount of tax due from the person and may be recovered accordingly unless, or except to the extent that, the assessment has subsequently been withdrawn or reduced.

The following is the Schedule which shall be inserted after Schedule 2 to the Misuse of rebated kerosene Hydrocarbon Oil Duties Act 1979—

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

Site information

1C

• (1) Regulations may require the operator of a landfill site—

• (a) to retain plans, permits and licences relating to the site;

• (b) to provide the Commissioners with copies of, or information relating to, plans, permits and licences retained under paragraph (a).

• (2) Regulations under sub-paragraph (1)(b) may be framed by reference to such copies or information as may be stipulated in any notice published by the Commissioners in pursuance of the regulations and not withdrawn by a further notice.

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This repeal has effect in accordance with section 15(4) of this Act.

The following is the Schedule which shall be inserted after Schedule 9 to the Value Added Tax Act 1994—

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The power in section 8(2) of this Act applies to these repeals as it applies to that section.

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This repeal has effect in accordance with section 15(4) of this Act.