Income Tax Act 2007

[^M_F_0d316793-7c5c-4e69-9509-027b083b5021]: Words in Sch. 4 inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(22)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_10706964-9585-4623-e900-aae48a3d1b0a]: S. 564F inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 7 (with Sch. 9 paras. 1-9, 22)

[^M_F_11d2a343-c224-4218-aca9-c59134a3c497]: S. 209(6) inserted (with effect in accordance with Sch. 7 para. 22 of the amending Act) by Finance Act 2012 (c. 14), Sch. 7 para. 17

[^M_F_1617d927-775b-4059-c946-6ce79ca8a9fc]: Words in s. 989 inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(13)(c)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_1724998a-38f4-46c2-ce4b-e3731e91705f]: Word in s. 280B(4)(b) omitted (with effect in accordance with Sch. 6 para. 23(1) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 6 para. 4(5)(a)

[^M_F_1825ee0e-b79d-425b-e5c0-3eca398b868a]: Word in Sch. 4 substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(14)(b)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_18b471c7-08ff-4344-92de-feb6bacee9d5]: S. 809Z6(5)-(8) inserted (with effect in accordance with Sch. 7 para. 9 of the amending Act) by Finance Act 2013 (c. 29), Sch. 7 para. 8

[^M_F_194d0a36-deec-4379-98fe-9fe0e6d4ab2c]: S. 215(2A) inserted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(5)

[^M_F_19e860e3-949e-4818-f3d1-5beb53f980aa]: S. 6A omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(5)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_1a6457aa-8bda-4828-bfd6-8d8d33ebf422]: Words in s. 215(1) substituted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(2)(a)

[^M_F_1b592962-aa01-4302-d81d-37cfa3e34755]: Sum in s. 257DI(2) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(3)(b)(7)

[^M_F_1fe1fef5-30db-4c02-9ce7-5de74bdfd452]: Sch. 1 para. 350 omitted (1.4.2009) by Finance Act 2008 (c.9), s. 113(2), Sch. 36 para. 92(j) (with Sch. 36 para. 38); S.I. 2009/404, art. 2 (with art. 12)

[^M_F_21a45e51-3317-45d4-98e3-8c4632057889]: S. 727A inserted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(3)

[^M_F_239d37f5-d903-480b-8f14-5bc684869cf5]: Sum in s. 10(5) specified (1.2.2021 with effect for the tax year 2021-22) by The Income Tax (Indexation) Order 2021 (S.I. 2021/111), art. 2

[^M_F_24bab1d3-6a7d-442d-bef4-83afad171e20]: Words in s. 12(1) omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(10)(a)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_27faa321-3482-4ba9-a18b-37c93d534dfd]: Sum in s. 55B(4)(a) substituted (with effect in accordance with s. 3(5) of the amending Act) by Finance Act 2015 (c. 11), s. 3(4)

[^M_F_2859f1e7-ed2a-44bb-b5f3-c23bd3383516]: S. 564I and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 10 (with Sch. 9 paras. 1-9, 22)

[^M_F_2c54705d-b394-498c-ce0d-29e7b9555e44]: Words in s. 13(1)(b) omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(11)(a)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_2c9bde2b-4059-4fe2-d0d5-c37c6aab4543]: Words in s. 749(4) substituted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(7)(a)

[^M_F_303b4554-e647-4795-e528-5d3e5507b65c]: Words in Sch. 4 omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(14)(a)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_31d79193-ad20-4f85-c5c9-e17a310d7b3e]: S. 564Y inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 26 (with Sch. 9 paras. 1-9, 22)

[^M_F_34b256c1-2d4b-4a4d-fc8e-39f72f6ff685]: S. 564X inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 25 (with Sch. 9 paras. 1-9, 22)

[^M_F_38e6c447-68b4-4b73-d97d-97951d5510d1]: S. 564G inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 8 (with Sch. 9 paras. 1-9, 22)

[^M_F_3a0dc9f3-0e7b-490b-fa47-4ca3d077f5fe]: Words in Sch. 4 inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(22)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_3a30adda-f569-42b3-e2e8-575b8396d99e]: S. 749(6) omitted (with effect in accordance with s. 22(10) of the amending Act) by virtue of Finance (No. 2) Act 2024 (c. 12), s. 22(7)(b)

[^M_F_3b46ee96-b44c-480b-e9ea-56fe6119563e]: S. 564D inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 5 (with Sch. 9 paras. 1-9, 22)

[^M_F_3b967b40-bfa2-4fc0-b0d6-3ea9c5c0d7c1]: S. 11A(1A) substituted for s. 11A(1)-(3) (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(10), 14(8)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_3d36fa41-53ce-48d0-d3e6-2c708ff2dd65]: Sum in s. 257DL(4)(b) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(4)(c)(7)

[^M_F_42eafffe-ea4d-48ec-cac2-ce926e8a4d59]: Words in s. 12B(8)(b)(iv) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(12)(f)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_4bad98e0-d24b-4cf7-8273-065f534a9186]: S. 7 renumbered as s. 7(1) (with effect for the tax year 2016-17 and subsequent years) by Finance Act 2016 (c. 24), s. 4(3)(a)(17)

[^M_F_4c309a66-f01f-4d45-a596-46cbf67591ff]: Words in s. 215(4) substituted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(6)

[^M_F_4e09d86f-ae6e-495d-dd03-750c02d22d5b]: Words in s. 12(1) substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(10)(b)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_5017430d-6f79-43e4-be73-9e484d292b96]: S. 6(4) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(4)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_54488118-28af-4b4d-db70-62b904a21a6e]: Words in s. 215 heading substituted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(11)

[^M_F_56587e4f-1686-42ed-d9a9-7e7c3a2eda0c]: S. 564E inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 6 (with Sch. 9 paras. 1-9, 22)

[^M_F_581c2538-669b-45df-9ce5-1f5550f45e51]: Word in s. 215(1)(d) substituted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(2)(d)

[^M_F_5976990c-2e5a-4cbc-d6e7-ccde43bd0a1c]: Words in s. 12B(8)(b)(i) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(12)(d)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_5b691d66-fa91-4dc5-948d-dbcdc4be921c]: S. 215(1A) inserted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(3)

[^M_F_5bf03e4c-1ff2-43e8-d42a-5f15ead43294]: S. 564K inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 12 (with Sch. 9 paras. 1-9, 22)

[^M_F_5e104112-3355-4fe6-97c2-204b001384ab]: S. 564C and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 4 (with Sch. 9 paras. 1-9, 22)

[^M_F_5e5719ce-5b73-44cc-e46e-602774fe523a]: S. 521(7) inserted (21.7.2008) by Finance Act 2008 (c. 9), Sch. 19 para. 9

[^M_F_5e675e82-c487-49dc-ec83-518dc4d2d2e2]: Words in s. 173A heading substituted (with effect in accordance with Sch. 5 para. 23 of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 5 para. 7(6)

[^M_F_615266cc-f9bd-4233-b51a-00a0f03651cb]: S. 564P inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 17 (with Sch. 9 paras. 1-9, 22)

[^M_F_6341bbb3-7dfe-47c5-d285-637ca7604988]: Words in s. 13(2A)(b) omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(11)(c)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_648cba74-2391-4551-8352-f79fb36939a0]: S. 564Q inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 18 (with Sch. 9 paras. 1-9, 22)

[^M_F_65f9b376-be94-4deb-cfe9-89333553f04e]: S. 13(5) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(11)(e)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_66776b28-f73c-4a3d-c572-23692892cae3]: Words in s. 989 omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(13)(a)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_6891aa11-f04e-4647-cfe5-9d145a963adb]: S. 564L inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 13 (with Sch. 9 paras. 1-9, 22)

[^M_F_690a583d-24bd-4b9e-9603-0b213acc5860]: Words in s. 989 substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(13)(b)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_6beb34e8-2c2d-4b9f-cb81-69a0459e5279]: Words in s. 11A(6) substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(10), 14(9)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_6d02fa83-33ad-4098-b605-28cf05c642cb]: Word in s. 10(4) substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(6)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_6fadd0a2-377e-4e65-9611-cc9e077a54b0]: S. 6(3)(aa) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(5)(b)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_76c785d0-c4f2-4135-edf6-8c5a56b2401c]: S. 6(3)(za) omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(3)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_770bdcd8-f5e1-4c44-8cfa-98c7a863ef81]: S. 215(8) inserted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(10)

[^M_F_7800dc7d-d1c6-4edc-898b-dd0031c60722]: Word in s. 11(1) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(8)(b)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_7a8d2fae-6c68-42e4-83c8-20196f433286]: Words in s. 257HF(2) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(5)(b)(7)

[^M_F_7baeec6e-7e60-48d5-8b74-56ee6e284df8]: S. 16(1)(za) substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(12)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_85d4b97b-f96c-48df-a0d4-940559d0420b]: Words in s. 12B(8)(b)(ii) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(12)(e)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_89b4a79d-dfaa-4058-d646-dc85e92964c2]: Words in s. 12A(3) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(11)(a)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_8a942acf-c5f7-4189-adfa-f8deeded8a2f]: Words in s. 55B(3) inserted (30.11.2016) (with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(15)(b)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_8b54a05c-a677-44fb-8282-b925e46dbe16]: Words in s. 12B(8)(a)(i) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(12)(a)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_8ca1c352-5adf-4014-ecb2-7928a7709513]: S. 564U inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 22 (with Sch. 9 paras. 1-9, 22)

[^M_F_939672ce-5a24-4adb-eb8e-b3894201f65e]: S. 17(1) words substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(14)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_943042c5-ee50-4307-aaa7-78173e7989af]: Words in s. 55B(2)(b) inserted (30.11.2016) (with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(15)(a)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_953f7fcc-5281-47fd-ca77-db5d6ca2e2c6]: S. 751(za) inserted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(9)

[^M_F_96db0c53-a6cc-4397-f682-eafe6336192e]: Words in s. 728 inserted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(5)

[^M_F_98cc3b94-5b4c-42ca-c87d-a2d54b08b2d1]: Words in s. 721(1) inserted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(4)

[^M_F_98f60368-161b-4e4a-aebe-aab8421e7f46]: S. 564R and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 19 (with Sch. 9 paras. 1-9, 22)

[^M_F_a03623c3-63f0-46d3-84f8-8bad93122186]: Words in s. 55B(3) inserted (30.11.2016) (with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(16)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_a1b3604c-0755-471a-f6c4-2d018406e399]: S. 719A inserted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(6)

[^M_F_a209e0c6-80ab-4665-d78f-8073a6b93d6d]: S. 564B inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 3 (with Sch. 9 paras. 1-9, 22)

[^M_F_a78d2f0f-2bb5-419e-95ea-bbf53ca380b7]: Word in s. 257HF(1)(a) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(5)(a)(7)

[^M_F_a7c2ce7a-653f-4e1e-fc89-ae890dd1dfdd]: Word in s. 215(1)(b) omitted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(2)(c)

[^M_F_aea4c3aa-e9c0-4bde-cded-cbb02aaa2fa1]: S. 16(1)(ab) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(13)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_b0ad5ab8-e93b-4919-9934-e4db81dcc732]: Word in s. 11A heading substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(10), 14(4)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_b124da3e-a281-4618-ccbf-eb820febcd25]: S. 564N inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 15 (with Sch. 9 paras. 1-9, 22)

[^M_F_b3dc968b-b3f7-4814-d6f0-a3497583f0e0]: S. 564S inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 20 (with Sch. 9 paras. 1-9, 22)

[^M_F_b3f79da3-a134-43dd-b66d-73eaa3d24641]: Words in s. 215(7) substituted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(9)

[^M_F_b6ea8241-5f90-4b26-8f2f-b1abce4aa075]: S. 999(1)(ea) inserted (1.4.2023) by The Local Government and Elections (Wales) Act 2021 (Corporate Joint Committees) (Consequential Amendments) Order 2023 (S.I. 2023/402), arts. 1(3), 4

[^M_F_b8be6842-0187-4f09-df34-5d84b01805c2]: S. 564J inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 11 (with Sch. 9 paras. 1-9, 22)

[^M_F_b9b8ceef-47f0-431e-efc3-1f82d32336eb]: S. 720A inserted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(2)

[^M_F_b9c0a11f-7de4-483e-d4f8-6263e32fef2a]: Words in s. 10(2) omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(6)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_ba52b2d5-99d6-47f4-d1d9-053a09654319]: Words in Sch. 4 inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(14)(d)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_bd28de5f-e38d-4b99-f08c-652cd4adc44a]: S. 564M and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 14 (with Sch. 9 paras. 1-9, 22)

[^M_F_bf291c2a-c74f-4d3e-e766-662b820c5e59]: S. 6C inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(3)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_c06fd725-1621-48fb-dfe4-a915c87fa5a3]: Words in s. 215(2) omitted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(4)

[^M_F_c257a85b-3c4f-4794-fc15-f4eb8acb5074]: Words in Sch. 4 inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(22)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_c56c6d6b-dc00-464a-851c-5e589dd20526]: Words in s. 13(2)(b) omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(11)(b)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_c6ff1a8e-f3cf-4023-d4e0-b04c6cedf780]: Words in Sch. 4 inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(14)(c)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_c813c039-3546-415b-a765-1be79d76d7bb]: Words in s. 989 inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(21)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_c95e43c8-7805-406a-caf2-2fbdd0d9c1a5]: Words in s. 989 inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(21)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_c9809d57-ff2b-4f45-ae4c-d19685c85215]: S. 564T inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 21 (with Sch. 9 paras. 1-9, 22)

[^M_F_c98a758a-a324-4659-932d-6c291d328813]: Words in s. 750(3) substituted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(8)

[^M_F_cb5461cb-2b9c-4979-bd36-026b3d64346c]: Words in s. 215(1) omitted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(2)(f)

[^M_F_d24e7f02-7227-4ab6-a87c-166b863c75e1]: Words in s. 215(5)(b) substituted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(7)

[^M_F_d470b98a-0c3b-4d44-b86a-560e87784b33]: S. 564O inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 16 (with Sch. 9 paras. 1-9, 22)

[^M_F_d5577bf6-d837-4a0e-c444-635c240de786]: S. 564W inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 24 (with Sch. 9 paras. 1-9, 22)

[^M_F_d57a42f2-67f4-47c0-fb39-c90119e214ad]: S. 9A inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(2)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_d79dfafa-0168-4cbf-cab4-6ccbd55cedcc]: Words in s. 12B(8)(a)(ii) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(12)(b)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_d9109e37-66e0-4ca2-b30d-d6294536fff5]: Words in s. 12A(4) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(11)(a)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_db76fbf9-fe5d-445d-a00a-ae4748fce949]: Sum in s. 257DL(1) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(4)(a)(7)

[^M_F_dd3bb2f1-edfe-4c38-ca7d-f0acc60b62b8]: Words in s. 215(6) substituted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(8)

[^M_F_e1c12b7e-06be-47ad-c59a-8b4aef62e56f]: Words in s. 10(4) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(7)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_e248c39d-9e7d-4ac8-fc1c-15d48f2d17eb]: Words in s. 215(1)(a) substituted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(2)(b)

[^M_F_e9873316-5523-4a94-ffd0-f894b8131c42]: Words in s. 393A(7) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 15(4) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)

[^M_F_ed993783-6e30-4809-f36c-f398fbedc1b6]: Sum in s. 257DI(1) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(3)(a)(7)

[^M_F_f11c98db-d060-4fd4-e1f8-49b17982a5dd]: Words in s. 749(2) substituted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(7)(a)

[^M_F_f5352adf-cdd3-46a0-b5fc-ed72d81d16c4]: S. 6(3)(zc) inserted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(5)(a)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_f5afee7f-3426-40fd-fd3f-876a0d8b3d1f]: Words in Sch. 4 inserted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 9(5)

[^M_F_f610c4b5-5e9f-4100-e52d-2edde8aa4413]: Words in s. 13(4) omitted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Scotland Act 2016 (c. 11), ss. 13(14), 14(11)(d)(15), 72(3); S.I. 2016/1161, regs. 2, 3

[^M_F_f75debcf-3f89-4382-d783-422ec1373b05]: S. 215(1)(d)-(f) inserted (6.4.2020 with effect in accordance with s. 36(12) of the amending Act) by Finance Act 2020 (c. 14), s. 36(2)(e)

[^M_F_fae626b7-ded1-4ce3-ed26-666aafdbeb22]: Words in s. 11 heading substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(8)(a)(24); S.I. 2016/1161, regs. 2, 3

[^M_F_fbdbb9b6-0c2a-477b-83ac-6e2ee3e6e3ca]: Sum in s. 257DL(4)(a) substituted (6.4.2023 in relation to shares issued on or after that date) by Finance Act 2023 (c. 30), s. 15(4)(b)(7)

[^M_F_feae1b34-f807-4b89-a659-b37d25447ccc]: Words in s. 12A(5) substituted (30.11.2016 with effect in relation to tax year 2017-18 and subsequent tax years) by Finance Act 2016 (c. 24), s. 6(11)(b)(24); S.I. 2016/1161, regs. 2, 3

[^key-e6bb1635fcf10f1419abd98b338e58cc]: Sum in s. 38(1) substituted (with effect for the tax year 2026-27 and subsequent tax years) by The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order 2026 (S.I. 2026/38), arts. 1(2), 2(a)

[^key-48ef541b711506cf2d364b5e70d44895]: Sum in s. 43 substituted (with effect for the tax year 2026-27 and subsequent tax years) by The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order 2026 (S.I. 2026/38), arts. 1(2), 2(b)

[^key-d090603ef25acd0670b065ec89ac2743]: Sum in s. 45(3)(a) substituted (with effect for the tax year 2026-27 and subsequent tax years) by The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order 2026 (S.I. 2026/38), arts. 1(2), 2(c)

[^key-468d6b9866f1a4ef9e75ae8284f76673]: Sum in s. 45(4) substituted (with effect for the tax year 2026-27 and subsequent tax years) by The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order 2026 (S.I. 2026/38), arts. 1(2), 2(e)

[^key-8b04a484159189195ffb2ddba6c6e624]: Sum in s. 46(3)(a) substituted (with effect for the tax year 2026-27 and subsequent tax years) by The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order 2026 (S.I. 2026/38), arts. 1(2), 2(d)

[^key-bd2b54c90ab99220d96be05c10730b55]: Sum in s. 46(4) substituted (with effect for the tax year 2026-27 and subsequent tax years) by The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order 2026 (S.I. 2026/38), arts. 1(2), 2(e)

[^M_C_926defa3-08f6-4bcd-898c-980d18182d4f]: Pt. 13 Ch. 2 modified (retrospective to 6.4.2025 for the tax year 2025-26 and subsequent tax years) by Finance Act 2026 (c. 11), s. 53(1)-(7)(10)

[^M_F_72f6c04d-a4f1-4d04-960f-fcaecb37254b]: S. 733(2E) inserted (retrospective to 6.4.2025 for the tax year 2025-26 and subsequent tax years) by Finance Act 2026 (c. 11), s. 53(9)(10)

[^M_F_94133dff-0cb4-4503-c92e-5e6d865e05e4]: Words in s. 733(2B)(a) substituted (retrospective to 6.4.2025) by Finance Act 2026 (c. 11), s. 44(2)(a)(6)

[^M_F_72664e01-36a8-4744-de4b-7fce8ee3edef]: Words in s. 733(2B) omitted (retrospective to 6.4.2025) by virtue of Finance Act 2026 (c. 11), s. 44(2)(b)(6)

[^M_C_7dff7fa6-8e3e-4a26-a3f6-5ec0a63ac0b7]: S. 733(1) modified (retrospective to 6.4.2025 for the tax year 2025-26 and subsequent tax years) by Finance Act 2026 (c. 11), s. 53(8)(10)

[^M_F_f92fc7a4-58e2-4711-d06e-5518365a165c]: Words in s. 734(5) omitted (retrospective to 6.4.2025 for the tax year 2025-26 and subsequent tax years) by virtue of Finance Act 2026 (c. 11), s. 52(2)(a)(4)

Limit on amount of sideways relief and capital gains relief

Limit on reliefs in any tax year not to exceed cap for tax year

103C

• (1) This section applies if an individual carries on one or more trades—

• (a) as a non-active partner in a firm during a tax year, or

• (b) as a limited partner in a firm at a time in that tax year,

and the individual makes a loss in any of those trades (an “affected loss”) in that tax year.

• (2) There is a restriction on the amount of sideways relief and capital gains relief which (after applying the restrictions under the other provisions of this Chapter) may be given to the individual for any affected loss (but see subsections (6) and (7)).

• (3) The restriction is that the total amount of the sideways relief and capital gains relief given to the individual for all the affected losses must not exceed the cap for that tax year.

• (4) The cap for any tax year is £25,000.

• (5) The Treasury may by order amend the sum for the time being specified in subsection (4).

• (6) The restriction under this section does not apply to so much of any affected loss as derives from qualifying film expenditure (see section 103D).

• (7) The restriction under this section does not affect the giving of sideways relief for a loss made in a trade against the profits of that trade.

• (8) In this section “ trade ” does not include a trade which consists of the underwriting business of a member of Lloyd's (within the meaning of section 184 of FA 1993).

Meaning of “qualifying film expenditure”

Exclusion of amounts in calculating contribution to the firm or LLP

113A

• (1) An amount which an individual contributes to a firm as capital is to be excluded in calculating the individual's contribution to the firm for the purposes of section 104 or 110 if the contribution was made for a prohibited purpose (but see subsection (4)).

• (2) If—

• (a) an individual carries on a trade as a member of an LLP at a time in a tax year,

• (b) the individual does not devote a significant amount of time to the trade in the relevant period for that year, and

• (c) the individual contributes an amount to the LLP as capital at any time in that year,

that amount is to be excluded in calculating the individual's contribution to the LLP for the purposes of section 107 if the contribution was made for a prohibited purpose (but see subsection (4)).

• (3) For the purposes of this section a contribution is made for a prohibited purpose if the main purpose, or one of the main purposes, of making the contribution is the obtaining of a reduction in tax liability by means of sideways relief or capital gains relief.

• (4) This section has no effect in relation to the application of any restriction under section 104, 107 or 110 to any loss that derives wholly from qualifying film expenditure.

173A

• (1) The total amount of relevant investments made in the issuing company in the year ending with the date the relevant shares are issued must not exceed—

• (a) if the company is a knowledge-intensive company at that date (see section 252A and subsection (5A)), £10 million, and

• (b) in any other case, £5 million.

• (2) In subsection (1), the reference to relevant investments made in the issuing company includes—

• (a) a relevant investment made in any company that has at any time in the year mentioned there been a 51% subsidiary of the issuing company (including investments made in such a company before it became such a subsidiary but, if it is not such a subsidiary at the end of that year, not those made after it last ceased to be such a subsidiary),

• (b) any other relevant investment made in a company to the extent that the money raised by the investment has been employed for the purposes of a trade carried on by another company that has at any time in that year been a 51% subsidiary of the issuing company (but, if it is not such a subsidiary at the end of that year, ignoring any money so employed after it last ceased to be such a subsidiary), and

• (c) any other relevant investment made in a company if—

• (i) the money raised by the investment has been employed for the purposes of a trade carried on by that company or another person, and

• (ii) in that year, after the investment was made, the trade (or a part of it) became a relevant transferred trade (see subsection (2B)).

• (2A) If only a proportion of the money raised by a relevant investment is employed for the purposes of a trade which becomes a relevant transferred trade, the reference in subsection (2)(c) to the relevant investment is to be read as a reference to the corresponding proportion of that investment.

• (2B) Where—

• (a) in the year mentioned in subsection (1) a trade is transferred—

• (i) to the issuing company,

• (ii) to a company that has at any time during that year been a 51% subsidiary of the issuing company, or

• (iii) to a partnership of which a company within sub-paragraph (i) or (ii) is a member,

(including where it is transferred to a company within sub-paragraph (ii), or a partnership of which such a company is a member, in that year before the company became such a subsidiary but, if the company is not such a subsidiary at the end of that year, not where it is transferred to such a company or partnership after the company last ceased to be such a subsidiary), and

• (b) that trade or a part of it was previously (at any time) carried on by another person,

the trade or part mentioned in paragraph (b) becomes a “ relevant transferred trade ” at the time it is transferred as mentioned in paragraph (a).

• (3) A “relevant investment” is made in a company if—

• (a) an investment (of any kind) in the company is made by a VCT , or

• (b) the company issues shares (money having been subscribed for them), and (at any time) the company provides—

• (i) a compliance statement under section 205, or

• (ia) a compliance statement under section 257ED (seed enterprise investment scheme).

• (ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

in respect of the shares, or

• (ba) an investment is made in the company and (at any time) the company provides a compliance statement under section 257PB (tax relief for social investments) in respect of the investment, or

• (c) any other investment is made in the company which is aid received by it pursuant to a measure approved by the European Commission before IP completion day as compatible with Article 107 of the Treaty on the Functioning of the European Union in accordance with the principles laid down in the European Commission's Guidelines on State aid to promote risk finance investment (as those guidelines had effect at the time of the approval).

• (4) An investment within subsection (3)(b) is regarded as made when the shares are issued.

• (5) Section 257KB applies in determining for those purposes when an investment within subsection (3)(ba) is made as it applies for the purposes of Part 5B (tax relief on social investments).

• (5A) If the issuing company began to carry on a trade less than three years before the date the relevant shares are issued, section 252A as it applies for the purposes of this section has effect with the substitution of the following subsections for subsections (2) to (4A)—

(2) The first operating costs condition is that in at least one of the relevant three succeeding years at least 15% of the relevant operating costs constitute expenditure on research and development or innovation. (3) The second operating costs condition is that in each of the relevant three succeeding years at least 10% of the relevant operating costs constitute such expenditure. (4) In subsections (2) and (3)— - “relevant operating costs” means— 1. if the issuing company is a single company at the time the relevant shares are issued, the operating costs of that company, and 2. if the issuing company is a parent company at the time the relevant shares are issued, the sum of— 1. the operating costs of the issuing company, and 2. the operating costs of each company which is a qualifying subsidiary of the issuing company at that time, excluding a company's operating costs for any of the relevant three succeeding years during any part of which the company is not a qualifying subsidiary of the issuing company; - “the relevant three succeeding years” means the three consecutive years the first of which begins with the date the relevant shares are issued.

• (6) For the purposes of this section—

• (a) references to a trade include a part of a trade (and references to the carrying on of a trade are to be construed accordingly);

• (b) when determining the amount of money raised by a relevant investment which has been employed for the purposes of a trade such apportionments are to be made as are just and reasonable.

• (7) In this section “trade” includes—

• (a) any business or profession,

• (b) so far as not within paragraph (a), the carrying on of research and development activities from which it is intended a trade will be derived or will benefit, and

• (c) preparing to carry on a trade.

186A

• (1) If the issuing company is a single company, the full-time equivalent employee number for it must be less than the permitted limit when the relevant shares are issued.

• (2) If the issuing company is a parent company, the sum of—

• (a) the full-time equivalent employee number for it, and

• (b) the full-time equivalent employee numbers for each of its qualifying subsidiaries,

must be less than the permitted limit when the relevant shares are issued.

• (3) The full-time equivalent employee number for a company is calculated as follows—

Step 1

Find the number of full-time employees of the company.

Step 2

Add, for each employee of the company who is not a full-time employee, such fraction as is just and reasonable.

The result is the full-time equivalent employee number.

• (3A) The permitted limit” means—

• (a) if the issuing company is a knowledge-intensive company (see section 252A) at the time the relevant shares are issued, 500, and

• (b) in any other case, 250.

• (3B) The Treasury may by regulations amend subsection (3A)(a) or (b) by substituting a different number for the number for the time being specified there.

• (4) In this section references to an employee—

• (a) include a director, but

• (b) do not include—

• (i) an employee on maternity , paternity , shared parental , parental bereavement or neonatal care leave, or

• (ii) a student on vocational training.

Maximum risk finance investments at the issue date requirement

Transfers between spouses or civil partners

Maximum risk finance investments during period B requirement

Value received where part of share issue treated as made in previous tax year

Put options

Acquisition of share capital

Value received: receipts of insignificant value

292A

• (1) The total amount of relevant investments made in the relevant company in the year ending with the date the relevant holding is issued must not exceed—

• (a) if the company is a knowledge-intensive company at that date (see section 331A and subsection (6A)), £10 million, and

• (b) in any other case, £5 million.

• (2) In subsection (1), the reference to relevant investments made in the relevant company includes—

• (a) relevant investments made in any company that has at any time in the year mentioned there been a 51% subsidiary of the relevant company (including investments made in such a company before it became such a subsidiary but, if it was not a subsidiary at the end of that year, not those made after it last ceased to be such a subsidiary),

• (b) any other relevant investment made in a company to the extent that the money raised by the investment has been employed for the purposes of a trade carried on by another company that has at any time in that year been a 51% subsidiary of the relevant company (but, if it is not such a subsidiary at the end of that year, ignoring any money so employed after it last ceased to be such a subsidiary), and

• (c) any other relevant investment made in a company if—

• (i) the money raised by the investment has been employed for the purposes of a trade carried on by that company or another person, and

• (ii) in that year, after that investment was made, the trade (or a part of it) became a relevant transferred trade (see subsection (2B)).

• (2A) If only a proportion of the money raised by a relevant investment is employed for the purposes of a trade which becomes a relevant transferred trade, the reference in subsection (2)(c) to the relevant investment is to be read as a reference to the corresponding proportion of that investment.

• (2B) Where—

• (a) in the year mentioned in subsection (1) a trade is transferred—

• (i) to the relevant company,

• (ii) to a company that is, or has at any time during that year been, a 51% subsidiary of the relevant company, or

• (iii) to a partnership of which a company within sub-paragraph (i) or (ii) is a member,

(including where it is transferred to a company within sub-paragraph (ii), or a partnership of which such a company is a member, at a time in the year before the company became such a subsidiary but not where it is transferred to such a company or partnership in that year after the company last ceased to be such a subsidiary), and

• (b) that trade or a part of it was previously (at any time) carried on by another person,

the trade or part mentioned in paragraph (b) becomes a “ relevant transferred trade ” at the time it is transferred as mentioned in paragraph (a).

• (3) A “relevant investment” is made in a company if—

• (a) an investment (of any kind) in the company is made by a VCT, or

• (b) the company issues shares (money having been subscribed for them), and (at any time) the company provides—

• (i) a compliance statement under section 205 (enterprise investment scheme), or

• (ia) a compliance statement under section 257ED (seed enterprise investment scheme).

• (ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

in respect of the shares, or

• (ba) an investment is made in the company and (at any time) the company provides a compliance statement under section 257PB (tax relief for social investments) in respect of the investment, or

• (c) any other investment is made in the company which is aid received by it pursuant to a measure approved by the European Commission before IP completion day as compatible with Article 107 of the Treaty on the Functioning of the European Union in accordance with the principles laid down in the European Commission's Guidelines on State aid to promote risk finance investment (as those guidelines had effect at the time of the approval).

• (4) For the purposes of subsections (1) to (2B), an investment within subsection (3)(b) is regarded as made when the shares are issued.