Legalize / United Kingdom / Finance (No. 2) Act 1997 / History

Reform history

Finance (No. 2) Act 1997

20 versions · 1997-07-31

2016-09-15

Finance (No. 2) Act 1997

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2013-01-31

Finance (No. 2) Act 1997

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2011-12-30

Finance (No. 2) Act 1997

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2011-07-19

Finance (No. 2) Act 1997

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2010-04-01

Finance (No. 2) Act 1997

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2009-07-21

Finance (No. 2) Act 1997

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2009-04-01

Finance (No. 2) Act 1997

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2008-07-21

Finance (No. 2) Act 1997

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2007-07-19

Finance (No. 2) Act 1997

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2007-04-06

Finance (No. 2) Act 1997

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2007-03-29

Finance (No. 2) Act 1997

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2006-12-31

Finance (No. 2) Act 1997

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Changes on 2006-12-31

@@ -2212,50 +2212,7 @@

##### 13

- (1) Schedule 19AC to the Taxes Act 1988 (modification of Taxes Act 1988 in relation to overseas life insurance companies) shall be amended as follows.

- (2) Paragraph 2 (which falls with the repeal of paragraph 5B(1) to (3)) shall cease to have effect.

- (3) In paragraph 5(1) (which notionally inserts subsections (6A) and (6B) into section 76) the notionally inserted subsection (6B) shall cease to have effect.

- (4) In paragraph 5A (which confers entitlement to tax credits on overseas life insurance companies) after sub-paragraph (2) there shall be inserted—

> (3) Nothing in this paragraph shall be taken to confer on an overseas life insurance company any entitlement to make a claim under section 231(3).

- (5) In paragraph 5B (which makes provision similar to section 242) sub-paragraphs (1) to (3) shall cease to have effect.

- (6) For sub-paragraph (1) of paragraph 9 (which makes provision similar to section 434(1)) there shall be substituted—

> (1) In section 434, the following subsections shall be treated as inserted after subsection (1B)—

> (“) The exclusion from section 11(2)(a), (aa) or (ab) of distributions received from companies resident in the United Kingdom shall not apply in relation to—

> (a) the charge to corporation tax on the life assurance profits of an overseas life insurance company computed in accordance with the provisions of this Act applicable to Case I of Schedule D; or

> (b) any computation of such profits in accordance with those provisions.

> (1D) Paragraph 2 of Schedule F shall not have effect for the purposes of subsection (1C)(a) or (b) above, but this subsection shall not apply in relation to distributions in respect of which an overseas life insurance company is entitled to a tax credit under section 441A.

> (1E) The reference in subsection (1C) above to the life assurance profits of an overseas life insurance company is a reference to the profits of the company—

> (a) in respect of its life assurance business; or

> (b) in respect of any category of life assurance business which it carries on.”

- (7) Paragraph 9A (which falls with the repeal of section 434A(1)) shall cease to have effect.

- (8) Sub-paragraph (1) of paragraph 10 (which notionally inserts into section 438 a provision similar to section 438(3) and (3AA)) shall cease to have effect.

- (9) Sub-paragraph (2) of paragraph 10 (which notionally modifies subsections (6), (6A), (6D) and (6E) of section 438) shall cease to have effect.

- (10) Paragraph 10A (which notionally inserts into section 439B a provision similar to section 439B(7)) shall cease to have effect.

- (11) In paragraph 11A, sub-paragraph (1) (which notionally inserts into section 441A a provision similar to section 441A(1)) shall cease to have effect.

- (12) Paragraph 12(1) (which falls with the repeal of paragraph 5B(1) to (3)) shall cease to have effect.

- (13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

- (14) Sub-paragraphs (2), (3), (5), (7), (9), (12) and (13) above have effect for accounting periods beginning on or after 2nd July 1997.

- (15) Sub-paragraphs (4), (6), (8), (10) and (11) above have effect in relation to distributions made on or after 2nd July 1997.

- (16) In determining, for the purposes of paragraph 5B(1) to (3) of Schedule 19AC to the Taxes Act 1988, the UK distribution income of an overseas life insurance company for an accounting period beginning before 2nd July 1997 and ending on or after that date, there shall be left out of account any distributions which are made on or after 2nd July 1997.

- (17) In determining, for the purposes of subsections (6) to (7) of section 438 of the Taxes Act 1988 (as notionally amended by paragraph 10(2) of Schedule 19AC to that Act), the UK distribution income of, or foreign income dividends arising to, an overseas life insurance company for an accounting period beginning before 2nd July 1997 and ending on or after that date, there shall be left out of account any distributions which are made on or after 2nd July 1997.

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

### Section 89 of the Finance Act 1989

@@ -3194,29 +3151,395 @@

## Part III — Statutory effect of resolutions etc

#### Charge to windfall tax.

#### The companies benefitting from windfalls.

#### Interpretation of Part I.

#### Rate of duty on spirits.

#### Rate of duty on beer.

#### Rates of duty on wine and made-wine.

#### Rates of hydrocarbon oil duties etc.

#### Rates of vehicle excise duty.

#### Payments where vehicle information transmitted electronically.

#### Mortgage interest payments.

#### Withdrawal of relief on medical insurance premiums.

#### Losses etc not to be set against surplus franked investment income.

#### Estates in administration: distributions to which s.233(1) applies.

#### Taxation of dealers in respect of distributions etc.

#### Repeal of s.95(5) of the Taxes Act 1988: consequential amendments.

#### Payments to companies under section 687 of the Taxes Act 1988.

#### Rates of tax applicable to Schedule F income etc.

#### Trusts.

#### Estates of deceased persons in administration.

#### Transitional relief for charities etc.

#### Interest to be paid gross.

#### Paying and collecting agents.

#### Carry-back of trading losses.

#### Carry-back of loan relationship deficits.

#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

#### Rate of duty on beer.

#### Rates of duty on wine and made-wine.

#### Rates of duty on cider.

#### Rates of tobacco products duty.

#### Payments where vehicle information transmitted electronically.

#### Mortgage interest payments.

#### Limit on relief for interest for 1998-99.

#### Losses etc not to be set against surplus franked investment income.

#### Estates in administration: distributions to which s.233(1) applies.

#### Interpretation.

### The Taxes Management Act 1970

### Section 7

### Section 42 (pre-corporation tax self-assessment version)

### Section 42 (corporation tax self-assessment version)

### The Taxes Act 1988

### Section 231

### Section 232

### Section 233

### Sections 235 to 237

### Section 238

### Section 241

### Section 249

### Section 421

### Section 469

### Section 549

### Section 660C

### Section 687

### Section 689B

### Section 699

### Section 703

### Section 709

### Section 743

### Section 819

### Section 832

### Schedule 13

### The Taxation of Chargeable Gains Act 1992

### Section 4

### Section 6

### The Taxes Act 1988

### Section 231B

### Section 434

### Section 441A

### Schedule 19AC

### The Finance Act 1993

### Schedule 20

These repeals have effect in relation to distributions made on or after 2nd July 1997.

These repeals have effect for the year 1997-98 and subsequent years of assessment except in relation to the cases in which the relief that has been or may be given under section 54 of the Finance Act 1989 in respect of any payment is unaffected by the provisions of section 17(1) of this Act.

These repeals have effect in accordance with section 36 of, and Schedule 6 to, this Act.

## Editorial notes

[^c4155251]: [1984 c. 12](https://www.legislation.gov.uk/ukpga/1984/12).

[^c4155261]: [1986 c. 31](https://www.legislation.gov.uk/ukpga/1986/31).

[^c4155271]: [1986 c. 44](https://www.legislation.gov.uk/ukpga/1986/44).

[^c4155281]: [1989 c. 15](https://www.legislation.gov.uk/ukpga/1989/15).

[^c4155291]: [1989 c. 29](https://www.legislation.gov.uk/ukpga/1989/29).

[^c4155301]: [S.I. 1992/231 (N.I. 1)](https://www.legislation.gov.uk/nisi/1992/231).

[^c4155311]: [1993 c. 43](https://www.legislation.gov.uk/ukpga/1993/43).

[^c4155321]: [1986 c. 31](https://www.legislation.gov.uk/ukpga/1986/31).

[^c4155331]: [1997 c. 16](https://www.legislation.gov.uk/ukpga/1997/16).

[^c4155341]: [1985 c. 6](https://www.legislation.gov.uk/ukpga/1985/6).

[^c4155351]: [S.I. 1986/1032 (N.I. 6)](https://www.legislation.gov.uk/nisi/1986/1032).

[^c4155361]: [1985 c. 6](https://www.legislation.gov.uk/ukpga/1985/6).

[^c4155371]: [1989 c. 40](https://www.legislation.gov.uk/ukpga/1989/40).

[^c4155391]: S. 6 repealed (11.5.2001 with effect in accordance with [s. 99(7)](https://www.legislation.gov.uk/ukpga/2001/9/section/99/7) of the amending Act) by [2001 c. 9](https://www.legislation.gov.uk/ukpga/2001/9), [s. 110](https://www.legislation.gov.uk/ukpga/2001/9/section/110), [Sch. 33 Pt. 3(1)](https://www.legislation.gov.uk/ukpga/2001/9/schedule/33/part/3/1), note 2

[^c4155401]: [1979 c. 4](https://www.legislation.gov.uk/ukpga/1979/4).

[^c4155411]: For the commencement date and time of S. 11 see 11(5)

[^c4155421]: [1997 c. 16](https://www.legislation.gov.uk/ukpga/1997/16).

[^c4155431]: [1979 c. 5](https://www.legislation.gov.uk/ukpga/1979/5).

[^c4155441]: [1979 c. 7](https://www.legislation.gov.uk/ukpga/1979/7).

[^c4155451]: [1994 c. 22](https://www.legislation.gov.uk/ukpga/1994/22).

[^c4155461]: [1994 c. 22](https://www.legislation.gov.uk/ukpga/1994/22).

[^c13266611]: S. 15 repealed (27.7.1999 with effect as mentioned in [s. 38(3)(4)](https://www.legislation.gov.uk/ukpga/1999/16/section/38/3/4) of the amending Act) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 139](https://www.legislation.gov.uk/ukpga/1999/16/section/139), [Sch. 20 Pt. III(7)](https://www.legislation.gov.uk/ukpga/1999/16/schedule/20/part/III/7) Note 4

[^c4155491]: [1989 c. 26](https://www.legislation.gov.uk/ukpga/1989/26).

[^c4155501]: [1989 c. 26](https://www.legislation.gov.uk/ukpga/1989/26).

[^c4155511]: [1997 c. 16](https://www.legislation.gov.uk/ukpga/1997/16).

[^c4155521]: S. 19 repealed (with effect in relation to distributions made on or after 6.4.1999) by [1997 c. 58](https://www.legislation.gov.uk/ukpga/1997/58), [s. 52](https://www.legislation.gov.uk/ukpga/1997/58/section/52), [Sch. 8 Pt. II(9)](https://www.legislation.gov.uk/ukpga/1997/58/schedule/8/part/II/9) Note 3 (with s. 3(3))

[^c4155531]: [1993 c. 34](https://www.legislation.gov.uk/ukpga/1993/34).

[^c4155541]: [1994 c. 9](https://www.legislation.gov.uk/ukpga/1994/9).

[^c4155551]: [1997 c. 16](https://www.legislation.gov.uk/ukpga/1997/16).

[^c4155561]: [1997 c. 16](https://www.legislation.gov.uk/ukpga/1997/16).

[^c4155571]: [1997 c. 16](https://www.legislation.gov.uk/ukpga/1997/16).

[^c4155581]: [1982 c. 53](https://www.legislation.gov.uk/ukpga/1982/53).

[^c4155591]: S. 30 modified (31.7.1998 with effect as mentioned in [s. 76(1)](https://www.legislation.gov.uk/ukpga/1998/36/section/76/1) of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 76(1)(2)](https://www.legislation.gov.uk/ukpga/1998/36/section/76/1/2)

[^c4155601]: S. 30(4) excluded (*temp.* from 6.4.1999 to 6.4.2004) by [S.I. 1998/1871](https://www.legislation.gov.uk/uksi/1998/1871), [reg. 4(1)](https://www.legislation.gov.uk/uksi/1998/1871/regulation/4/1)

[^c4155611]: S. 30(4) restricted (31.7.1998) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 90(1)](https://www.legislation.gov.uk/ukpga/1998/36/section/90/1)

[^c4155621]: S. 30(4): Power to modify conferred (31.7.1998) by [1988 c. 1](https://www.legislation.gov.uk/ukpga/1988/1), [s. 33B](https://www.legislation.gov.uk/ukpga/1988/1/section/33B) (as inserted (31.7.1998) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 77(1)](https://www.legislation.gov.uk/ukpga/1998/36/section/77/1))

[^c4155631]: [1970 c. 9](https://www.legislation.gov.uk/ukpga/1970/9).

[^c4155641]: 1997 c .16.

[^c4155681]: S. 37(6) repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(3) Note of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [ss. 37(3)](https://www.legislation.gov.uk/ukpga/1998/36/section/37/3), [165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 27 Pt. III(3)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/3) Note; [S.I. 1999/619](https://www.legislation.gov.uk/uksi/1999/619), [art. 2](https://www.legislation.gov.uk/uksi/1999/619/article/2)

[^c4155691]: Words in s. 37(11) substituted (28.7.2000 with effect as mentioned in [s. 111(6)(a)](https://www.legislation.gov.uk/ukpga/2000/17/section/111/6/a) of the amending Act) by [2000 c. 17](https://www.legislation.gov.uk/ukpga/2000/17), [s. 111(5)](https://www.legislation.gov.uk/ukpga/2000/17/section/111/5)

[^c13262161]: S. 38 repealed (28.7.2000 with effect as mentioned in Sch. 40 Pt. II(17) Note of the amending Act) by [2000 c. 17](https://www.legislation.gov.uk/ukpga/2000/17), [s. 156](https://www.legislation.gov.uk/ukpga/2000/17/section/156), [Sch. 40 Pt. II(17)](https://www.legislation.gov.uk/ukpga/2000/17/schedule/40/part/II/17)

[^c4155711]: [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8).

[^c4155731]: [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8).

[^c4155741]: [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8).

[^c4155751]: [1993 c. 34](https://www.legislation.gov.uk/ukpga/1993/34).

[^c4155801]: S. 42 repealed (22.3.2001 with effect as mentioned in [s. 579(1)](https://www.legislation.gov.uk/ukpga/2001/2/section/579/1) of the amending Act) by [2001 c. 2](https://www.legislation.gov.uk/ukpga/2001/2), [s. 580](https://www.legislation.gov.uk/ukpga/2001/2/section/580), [Sch. 4](https://www.legislation.gov.uk/ukpga/2001/2/schedule/4)

[^c4155881]: S. 43 repealed (22.3.2001 with effect as mentioned in [s. 579(1)](https://www.legislation.gov.uk/ukpga/2001/2/section/579/1) of the amending Act) by [2001 c. 2](https://www.legislation.gov.uk/ukpga/2001/2), [s. 580](https://www.legislation.gov.uk/ukpga/2001/2/section/580), [Sch. 4](https://www.legislation.gov.uk/ukpga/2001/2/schedule/4)

[^c4155901]: S. 44 repealed (22.3.2001 with effect as mentioned in [s. 579(1)](https://www.legislation.gov.uk/ukpga/2001/2/section/579/1) of the amending Act) by [2001 c. 2](https://www.legislation.gov.uk/ukpga/2001/2), [s. 580](https://www.legislation.gov.uk/ukpga/2001/2/section/580), [Sch. 4](https://www.legislation.gov.uk/ukpga/2001/2/schedule/4)

[^c4155921]: S. 45 repealed (22.3.2001 with effect as mentioned in [s. 579(1)](https://www.legislation.gov.uk/ukpga/2001/2/section/579/1) of the amending Act) by [2001 c. 2](https://www.legislation.gov.uk/ukpga/2001/2), [s. 580](https://www.legislation.gov.uk/ukpga/2001/2/section/580), [Sch. 4](https://www.legislation.gov.uk/ukpga/2001/2/schedule/4)

[^c4155931]: S. 46 repealed (22.3.2001 with effect as mentioned in [s. 579(1)](https://www.legislation.gov.uk/ukpga/2001/2/section/579/1) of the amending Act) by [2001 c. 2](https://www.legislation.gov.uk/ukpga/2001/2), [s. 580](https://www.legislation.gov.uk/ukpga/2001/2/section/580), [Sch. 4](https://www.legislation.gov.uk/ukpga/2001/2/schedule/4)

[^c4155981]: S. 47 repealed (22.3.2001 with effect as mentioned in [s. 579(1)](https://www.legislation.gov.uk/ukpga/2001/2/section/579/1) of the amending Act) by [2001 c. 2](https://www.legislation.gov.uk/ukpga/2001/2), [s. 580](https://www.legislation.gov.uk/ukpga/2001/2/section/580), [Sch. 4](https://www.legislation.gov.uk/ukpga/2001/2/schedule/4)

[^c13262171]: S. 49 repealed (27.7.1999 with effect as mentioned in [Sch. 20 Pt. V(2)](https://www.legislation.gov.uk/ukpga/1999/16/schedule/20/part/V/2) of the amending Act) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 139](https://www.legislation.gov.uk/ukpga/1999/16/section/139), [Sch. 20 Pt. V(5)](https://www.legislation.gov.uk/ukpga/1999/16/schedule/20/part/V/5), Notes 1, 2

[^c4156271]: [1963 c. 25](https://www.legislation.gov.uk/ukpga/1963/25).

[^c4156281]: [1963 c. 22 (N.I.)](https://www.legislation.gov.uk/apni/1963/22).

[^c4156291]: [1958 c. 56](https://www.legislation.gov.uk/ukpga/1958/56).

[^c4156301]: [1963 c. 22 (N.I.)](https://www.legislation.gov.uk/apni/1963/22).

[^c4156311]: [1958 c. 56](https://www.legislation.gov.uk/ukpga/1958/56).

[^c4156321]: [1958 c. 14 (N.I.)](https://www.legislation.gov.uk/apni/1958/14).

[^c4156361]: [1968 c. 2](https://www.legislation.gov.uk/ukpga/1968/2).

[^c4156371]: S. 50(2) repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 3](https://www.legislation.gov.uk/ukpga/1998/36/schedule/3), [Sch. 27 Pt. III(2)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/2) Note

[^c4156381]: [1998 c.1](https://www.legislation.gov.uk/ukpga/1998/1).

[^c4156421]: [1985 c. 6](https://www.legislation.gov.uk/ukpga/1985/6).

[^c4156431]: [1985 c. 6](https://www.legislation.gov.uk/ukpga/1985/6).

[^c4156441]: [1989 c. 40](https://www.legislation.gov.uk/ukpga/1989/40).

[^c4156451]: [S.I. 1986/1032 (N.I. 6)](https://www.legislation.gov.uk/nisi/1986/1032).

[^c4156461]: [1985 c. 6](https://www.legislation.gov.uk/ukpga/1985/6).

[^c4156471]: [1989 c. 40](https://www.legislation.gov.uk/ukpga/1989/40).

[^c4156481]: [S.I. 1986/1032 (N.I. 6)](https://www.legislation.gov.uk/nisi/1986/1032).

[^c4156491]: [S.I. 1994/1811](https://www.legislation.gov.uk/uksi/1994/1811).

[^c4156501]: [1954 c. 33 (N.I.)](https://www.legislation.gov.uk/apni/1954/33).

[^c4156511]: [1989 c. 26](https://www.legislation.gov.uk/ukpga/1989/26).

[^c4156521]: [1985 c. 6](https://www.legislation.gov.uk/ukpga/1985/6).

[^c4156531]: [S.I. 1986/1032 (N.I. 6)](https://www.legislation.gov.uk/nisi/1986/1032).

[^c4156541]: [1970 c. 9](https://www.legislation.gov.uk/ukpga/1970/9).

[^c4156561]: [1989 c. 26](https://www.legislation.gov.uk/ukpga/1989/26).

[^c4156571]: [Sch. 3 para. 3(3)(4)(6)(7)](https://www.legislation.gov.uk/ukpga/1997/58/schedule/3/paragraph/3/3/4/6/7) repealed (31.7.1998 with effect as mentioned in [Sch. 27 Pt. III(2)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/2) of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 3](https://www.legislation.gov.uk/ukpga/1998/36/schedule/3), [Sch. 27 Pt. III(2)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/2) Note

[^c4156621]: [Sch. 3 para. 10](https://www.legislation.gov.uk/ukpga/1997/58/schedule/3/paragraph/10) repealed (11.5.2001 with effect in accordance with [s. 87](https://www.legislation.gov.uk/ukpga/2001/9/section/87) of the amending Act) by [2001 c. 9](https://www.legislation.gov.uk/ukpga/2001/9), [s. 110](https://www.legislation.gov.uk/ukpga/2001/9/section/110), [Sch. 33 Pt. 2(12)](https://www.legislation.gov.uk/ukpga/2001/9/schedule/33/part/2/12)

[^c4156631]: [Sch. 3 para. 11](https://www.legislation.gov.uk/ukpga/1997/58/schedule/3/paragraph/11) repealed (11.5.2001 with effect in accordance with [s. 87](https://www.legislation.gov.uk/ukpga/2001/9/section/87) of the amending Act) by [2001 c. 9](https://www.legislation.gov.uk/ukpga/2001/9), [s. 110](https://www.legislation.gov.uk/ukpga/2001/9/section/110), [Sch. 33 Pt. 2(12)](https://www.legislation.gov.uk/ukpga/2001/9/schedule/33/part/2/12)

[^c4156641]: [Sch. 3 para. 12](https://www.legislation.gov.uk/ukpga/1997/58/schedule/3/paragraph/12) repealed (11.5.2001 with effect as mentioned in the note to [Sch. 33 Pt. 2(12)](https://www.legislation.gov.uk/ukpga/2001/9/schedule/33/part/2/12) of the amending Act) by [2001 c. 9](https://www.legislation.gov.uk/ukpga/2001/9), [s. 110](https://www.legislation.gov.uk/ukpga/2001/9/section/110), [Sch. 33 Pt. 2(12)](https://www.legislation.gov.uk/ukpga/2001/9/schedule/33/part/2/12)

[^c4156691]: [1989 c. 26](https://www.legislation.gov.uk/ukpga/1989/26).

[^c4156701]: [1992 c. 48](https://www.legislation.gov.uk/ukpga/1992/48).

[^c4156711]: [1970 c. 9](https://www.legislation.gov.uk/ukpga/1970/9).

[^c4156731]: [1994 c. 9](https://www.legislation.gov.uk/ukpga/1994/9).

[^c4156721]: [Sch. 4 para. 2](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/2) modified (31.7.1998) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 90(2)(b)](https://www.legislation.gov.uk/ukpga/1998/36/section/90/2/b)

[^c4156751]: [Sch. 4 para. 3](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/3) repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(28)) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [ss. 117](https://www.legislation.gov.uk/ukpga/1998/36/section/117), [165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 27 Pt. III(28)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/28) Note

[^c4156761]: [Sch. 4 para. 3](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/3) modified (31.7.1998) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 90(2)(a)](https://www.legislation.gov.uk/ukpga/1998/36/section/90/2/a)

[^c4156771]: [Sch. 4 para. 8](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/8) repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [ss. 31](https://www.legislation.gov.uk/ukpga/1998/36/section/31), [165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 3 para. 45](https://www.legislation.gov.uk/ukpga/1998/36/schedule/3/paragraph/45), [Sch. 27 Pt. III(2)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/2) Note

[^c4156781]: [Sch. 4 para. 9](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/9) repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [ss. 31](https://www.legislation.gov.uk/ukpga/1998/36/section/31), [165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 3 para. 46](https://www.legislation.gov.uk/ukpga/1998/36/schedule/3/paragraph/46), [Sch. 27 Pt. III(2)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/2) NOte

[^c4156791]: [Sch. 4 para. 18](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/18) repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [ss. 31](https://www.legislation.gov.uk/ukpga/1998/36/section/31), [165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 3 para. 47](https://www.legislation.gov.uk/ukpga/1998/36/schedule/3/paragraph/47), [Sch. 27 Pt. III(2)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/2) Note

[^c4156801]: [Sch. 4 para. 23](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/23) repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [ss. 31](https://www.legislation.gov.uk/ukpga/1998/36/section/31), [165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 3 para. 48](https://www.legislation.gov.uk/ukpga/1998/36/schedule/3/paragraph/48), [Sch. 27 Pt. III(2)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/2) Note

[^c4156821]: [1992 c. 12](https://www.legislation.gov.uk/ukpga/1992/12).

[^c4156831]: [Sch. 4 para. 24(4)(5)](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/24/4/5) repealed (27.7.1999 with effect for the years 1999-2000 and subsequent years of assessment) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 139](https://www.legislation.gov.uk/ukpga/1999/16/section/139), [Sch. 20 Pt. III(1)](https://www.legislation.gov.uk/ukpga/1999/16/schedule/20/part/III/1) Note

[^c4156851]: [1992 c. 12](https://www.legislation.gov.uk/ukpga/1992/12).

[^c4156861]: [1993 c. 34](https://www.legislation.gov.uk/ukpga/1993/34).

[^c13262471]: [Sch. 4](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4) applied (with modifications) ( temp. from 6.4.1999 to 6.4.2004) by [S.I. 1998/1871](https://www.legislation.gov.uk/uksi/1998/1871), [reg. 4](https://www.legislation.gov.uk/uksi/1998/1871/regulation/4)

[^c4156871]: [1989 c. 26](https://www.legislation.gov.uk/ukpga/1989/26).

[^c4156881]: [1993 c. 34](https://www.legislation.gov.uk/ukpga/1993/34).

[^c4156891]: [1997 c. 16](https://www.legislation.gov.uk/ukpga/1997/16).

[^c4156911]: [1992 c. 12](https://www.legislation.gov.uk/ukpga/1992/12).

[^c4156901]: [Sch. 7 para. 3](https://www.legislation.gov.uk/ukpga/1997/58/schedule/7/paragraph/3) repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(4) Note of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [ss. 38(2)(3)](https://www.legislation.gov.uk/ukpga/1998/36/section/38/2/3), [165](https://www.legislation.gov.uk/ukpga/1998/36/section/165), [Sch. 27 Pt. III(4)](https://www.legislation.gov.uk/ukpga/1998/36/schedule/27/part/III/4) Note

[^c13262481]: [Sch. 7](https://www.legislation.gov.uk/ukpga/1997/58/schedule/7) amended ( retrospective to 31.7.1997) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 81(5)](https://www.legislation.gov.uk/ukpga/1998/36/section/81/5)

[^c13262491]: [Sch. 8](https://www.legislation.gov.uk/ukpga/1997/58/schedule/8) restricted (31.7.1998 with effect as mentioned in [s. 76(1)](https://www.legislation.gov.uk/ukpga/1998/36/section/76/1) of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 76(5)](https://www.legislation.gov.uk/ukpga/1998/36/section/76/5) [Sch. 8](https://www.legislation.gov.uk/ukpga/1997/58/schedule/8) restricted (31.7.1998) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 90(4)](https://www.legislation.gov.uk/ukpga/1998/36/section/90/4)

[^key-d0cc3b38907acb02fc3309146cb2b979]: S. 24(3)(e) repealed (10.7.2003) (with effect in accordance with the Note to [Sch. 43 Pt. 3(6)](https://www.legislation.gov.uk/ukpga/2003/14/schedule/43/part/3/6) to the amending Act) by [Finance Act 2003 (c. 14)](https://www.legislation.gov.uk/ukpga/2003/14), [Sch. 43 Pt. 3(6)](https://www.legislation.gov.uk/ukpga/2003/14/schedule/43/part/3/6)

[^key-6f0789b13f6df87b83d37234dfc8c9f9]: [Sch. 3 para. 1](https://www.legislation.gov.uk/ukpga/1997/58/schedule/3/paragraph/1) repealed (22.7.2004) (with effect in accordance with s. 42 of the amending Act) by [Finance Act 2004 (c. 12)](https://www.legislation.gov.uk/ukpga/2004/12), [Sch. 42 Pt. 2(3)](https://www.legislation.gov.uk/ukpga/2004/12/schedule/42/part/2/3)

[^key-92de3236ed83dbf31cb3c265004cd592]: [Sch. 6 para. 2](https://www.legislation.gov.uk/ukpga/1997/58/schedule/6/paragraph/2) repealed (22.7.2004) (with effect in accordance with s. 42 of the amending Act) by [Finance Act 2004 (c. 12)](https://www.legislation.gov.uk/ukpga/2004/12), [Sch. 42 Pt. 2(3)](https://www.legislation.gov.uk/ukpga/2004/12/schedule/42/part/2/3)

[^key-3aa504bb87e3ec0b5fed407e65ad9b55]: S. 22(5) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-7b6073990c3b6f18b875358fd5d79ef0]: S. 24(10) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-2b059a750e843bd9966d710a0052f57d]: S. 30(2)(a) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-85402a9c3d2652264761a722e08ce6e5]: S. 30(5)(a) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-f978685f35c2de34c06f60268f0dc08b]: S. 30(6) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-37f0379321d004a43380473bc36c33d4]: Words in s. 30(9) inserted (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 1 para. 496(a)](https://www.legislation.gov.uk/ukpga/2005/5/schedule/1/paragraph/496/a) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-bfff500bca8bd27c70bbffe7007b4945]: Words in s. 30(10)(a) substituted (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 1 para. 496(b)](https://www.legislation.gov.uk/ukpga/2005/5/schedule/1/paragraph/496/b) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-7fbee7b6f37f685af80cf80e59014d04]: Words in s. 37(7) substituted (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 1 para. 497](https://www.legislation.gov.uk/ukpga/2005/5/schedule/1/paragraph/497) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-4229c444ca99c2e081bfea85f54f76b7]: [Sch. 4 para. 4](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/4) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-ea2d553dbbb872621243958b3460270f]: [Sch. 4 para. 5](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/5) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-377693e8cf6ef62b70c287ed542d6d5c]: [Sch. 4 para. 6](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/6) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-cc4ca35a151a737a678519eb6549b2b9]: [Sch. 4 para. 10](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/10) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-fc19c574995708a9039e17edc02b6f0a]: Sch. 4 para. 11(1)(b) and preceding word repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-3488cf3952721762a22266a3b818b1dd]: [Sch. 4 para. 13](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/13) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-4e0811c551703a8bd2e633782c78be73]: [Sch. 4 para. 14](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/14) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-7f7d47798731b92dd814533b065fd65e]: [Sch. 4 para. 16(3)](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/16/3) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-9e475462dacf9ba84c796662c572b15f]: [Sch. 4 para. 17](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/17) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-198ff9d9c775b38304a6a6e2cb86245a]: [Sch. 4 para. 20(2)(b)](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/20/2/b) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-fff401c1bcb213080ac6743d8389bd80]: [Sch. 4 para. 27](https://www.legislation.gov.uk/ukpga/1997/58/schedule/4/paragraph/27) repealed (6.4.2005) by [Income Tax (Trading and Other Income) Act 2005 (c. 5)](https://www.legislation.gov.uk/ukpga/2005/5), [s. 883(1)](https://www.legislation.gov.uk/ukpga/2005/5/section/883/1), [Sch. 3](https://www.legislation.gov.uk/ukpga/2005/5/schedule/3) (with [Sch. 2](https://www.legislation.gov.uk/ukpga/2005/5/schedule/2))

[^key-dce940efdfe5662a6e689d6ff9ea6072]: S. 48 repealed (19.7.2006) (with effect in accordance with Sch. 26 Pt. 3(4) Note 1 of the amending Act) by [Finance Act 2006 (c. 25)](https://www.legislation.gov.uk/ukpga/2006/25), [Sch. 26 Pt. 3(4)](https://www.legislation.gov.uk/ukpga/2006/25/schedule/26/part/3/4)

[^key-654f053ac8a3f56abd40c7a0a5f62f98]: [Sch. 3 para. 13](https://www.legislation.gov.uk/ukpga/1997/58/schedule/3/paragraph/13) repealed (31.12.2006) (with effect in accordance with reg. 1 of the amending S.I.) by [The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271)](https://www.legislation.gov.uk/uksi/2006/3271), [reg. 1](https://www.legislation.gov.uk/uksi/2006/3271/regulation/1), [Sch. Pt. 1](https://www.legislation.gov.uk/uksi/2006/3271/schedule/part/1)

[^key-96e1df48eadb29d19db370cfd0a93ff0]: [Sch. 3 para. 9](https://www.legislation.gov.uk/ukpga/1997/58/schedule/3/paragraph/9) repealed (31.1.2013) by [Statute Law (Repeals) Act 2013 (c. 2)](https://www.legislation.gov.uk/ukpga/2013/2), [s. 3(2)](https://www.legislation.gov.uk/ukpga/2013/2/section/3/2), [Sch. 1 Pt. 10](https://www.legislation.gov.uk/ukpga/2013/2/schedule/1/part/10) Group 1

These repeals have effect in accordance with section 15 of this Act.

#### Taxation of dealers in respect of distributions etc.

@@ -3242,390 +3565,24 @@

#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

#### Statutory effect of resolutions etc.

#### Stamp duty on conveyance or transfer on sale.