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Taxation (International and Other Provisions) Act 2010

Type Public General Act

Publication 2010-03-18

Last updated 2026-09-11

State In force

Department Statute Law Database

Source legislation.gov.uk

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An Act to restate, with minor changes, certain enactments relating to tax; to make provision for purposes connected with the restatement of enactments by other tax law rewrite Acts; and for connected purposes.

Reform history JSON API

(6) The duty to comply with sub-paragraph (4) or (5) is enforceable by any person to whom the duty is owed.

Provision of information between members of group where no reporting company appointed

61

(1) This paragraph applies where condition A or B is met in relation to a period of account of a worldwide group.

(2) Condition A is that no appointment of a reporting company in relation to the period of account has been made before the end of the period of 12 months beginning with the end of the period of account.

(3) Condition B is that—

(a) an appointment of a reporting company has effect in relation to the period of account,

(b) a full interest restriction return has not been submitted in accordance with this Part for the period, and

(4) A company that was a UK group company at any time during the period of account may, by notice, require any other such company to provide it with information that it needs for the purpose of determining whether, or the extent to which, it is required to leave tax-interest expense amounts out of account, or bring them into account, under this Part of this Act.

(5) A notice under sub-paragraph (4) must specify the information to be provided.

(6) The duty to comply with a notice under sub-paragraph (4) is enforceable by the company that gives the notice.

PART 7 — Information powers exercisable by officers of Revenue and Customs

Power to obtain information and documents from members of worldwide group

62

(1) An officer of Revenue and Customs may, by notice, require a group member—

(a) to provide information, or

(b) to produce a document,

if the information or document is reasonably required by the officer for the purpose of checking an interest restriction return for, or exercising any of the powers under this Part of this Act in relation to, a period of account of a worldwide group.

(2) For the purposes of this Part of this Schedule a person is a “group member” if, in the opinion of an officer of Revenue and Customs, the person is or might be a member of the worldwide group at any time in the period of account.

(3) A group member may (subject to the operation of any provision of Part 4 of Schedule 36 to FA 2008 as applied by paragraph 66(1) of this Schedule) be required to provide information, or produce a document, that relates to one or more other group companies.

(4) A notice under this paragraph may be given to a person even if the person is not within the charge to corporation tax or income tax.

(5) A notice under this paragraph may specify or describe the information or documents to be provided or produced.

Power to obtain information and documents from third parties

63

(1) An officer of Revenue and Customs may, by notice, require a third party—

(a) to provide information, or

(b) to produce a document,

(2) A person is a “third party” if the person is not a group member at any time in the period of account.

(3) A notice may not be given under this paragraph unless—

(a) a company which is a UK group company of the group at any time in the period of account agrees to the giving of the notice, or

(b) on an application made by an officer of Revenue and Customs, the tribunal approves the giving of the notice.

(4) The tribunal may not approve the giving of a notice to a third party unless—

(a) the tribunal is satisfied that, in the circumstances, the officer giving the notice is justified in doing so, and

(b) either the requirements of sub-paragraph (5) are met or the tribunal is satisfied that it is appropriate to dispense with meeting those requirements because to meet them might prejudice the assessment or collection of tax.

(5) The requirements in this sub-paragraph are met if—

(a) the third party has been told that the information or documents referred to in the notice are required,

(b) the third party has been given a reasonable opportunity to make representations to an officer of Revenue and Customs,

(d) a company which is a UK group company of the group at any time in the period of account has been given a summary of the reasons why the information and documents are required.

(6) Sub-paragraph (5)(d) does not apply if an officer of Revenue and Customs has insufficient information to identify a company mentioned in that paragraph.

(7) No notice of the application for the approval of the tribunal needs to be given to the third party by an officer of Revenue and Customs.

(8) A notice under this paragraph to the third party must give details of the worldwide group unless—

(a) the notice is approved by the tribunal, and

(b) the tribunal is satisfied that no details should be given because to do so might seriously prejudice the assessment or collection of tax.

(9) An officer of Revenue and Customs must give a copy of a notice under this paragraph to a company which is a UK group company of the group at any time in the period of account unless—

(a) the tribunal has approved the notice and is satisfied that no copy should be given because to do so might prejudice the assessment or collection of tax, or

(b) an officer of Revenue and Customs has insufficient information to identify such a company.

(10) A decision of the tribunal under this paragraph is final (despite the provisions of sections 11 and 13 of the Tribunals, Courts and Enforcement Act 2007).

(11) A notice under this paragraph—

(a) may specify or describe the information or documents to be provided or produced, and

(b) if given with the approval of the tribunal, must state that fact.

Notices following submitted interest restriction returns

64

(1) The general rule is that, if an interest restriction return for a period of account of a worldwide group has been received by an officer of Revenue and Customs, a notice under paragraph 62 or 63 may not be given in relation to the period of the account of the group.

(2) But the general rule does not apply if—

(a) a notice of enquiry has been given in respect of the return, and

(b) the enquiry has not been completed.

Appeals

65

(1) A group member may appeal against a notice under paragraph 62.

(2) A person to whom a notice is given under paragraph 63 in a case where the tribunal has not approved the giving of the notice may appeal against the notice on the ground that it would be unduly onerous to comply with it.

(3) No appeal may be made under this paragraph in relation to a requirement to provide any information, or produce any documents, that forms part of the statutory records of any company which is a UK group company of the group at any time in the period of account.

(4) “Statutory records” has the same meaning given by paragraph 62 of Schedule 36 to FA 2008.

(5) In this Part of this Schedule references to an appeal against a notice include an appeal against a requirement of the notice.

Application of provisions of Schedule 36 to FA 2008

66

(1) The following provisions of Schedule 36 to FA 2008 (information and inspection powers) apply in relation to notices under paragraph 62 or 63—

(a) paragraph 7 (complying with notices),

(b) paragraph 8 (producing copies of documents),

(d) paragraph 16 (power to remove documents),

(e) paragraph 18 (documents not in person's possession or power),

(f) paragraph 19 (types of information),

(g) paragraph 20 (old documents),

(h) paragraph 23 (privileged communications),

(i) paragraphs 24 to 27 (auditors and tax advisers),

(j) every paragraph contained in Part 7 (penalties),

(k) every paragraph contained in Part 8 (offence), and

(l) paragraph 56 (application of provisions of TMA 1970).

(2) Paragraph 32 of Schedule 36 to FA 2008 (procedure on appeals) applies in relation to an appeal under this Part of this Schedule against a notice under this Part of this Schedule.

References to checking an interest restriction return etc

67

(1) For the purposes of this Part of this Schedule references to checking an interest restriction return include—

(a) determining whether or not an interest restriction return should be submitted for a period of account of a worldwide group,

(b) determining whether or not a worldwide group is, or may be, subject to interest restrictions in a period of account, (and, if so, determining the total disallowed amount of the group),

(d) determining any other question that is relevant to the operation of this Part of this Schedule in relation to an interest restriction return or anything required to be included in it.

(2) For the purposes of this Part of this Schedule references to a worldwide group include one that an officer of Revenue and Customs suspects may exist.

PART 8 — Company tax returns

Elections under section 375, 377 or 380

68

The following elections (or their revocation) must be made by a company in its company tax return (whether as originally made or by amendment) for the accounting period to which the election (or revocation) relates—

(a) an election under section 375 (a non-consenting company leaving pro-rata share of total disallowed amount out of account),

(b) an election under section 377 (a company specifying tax-interest expense amounts to be left out of account), and

Amendments to take account of operation of this Part of this Act (including elections)

69

(1) A company may amend its company tax return for an accounting period so as to make (or revoke) an election under section 375 at any time before—

(a) the filing date in relation to the period of account of the worldwide group to which the interest restriction return in question relates (see paragraph 7(5)), or

(b) if later, the end of the period of 3 months beginning with the day on which the interest restriction return in question is received by an officer of Revenue and Customs.

(2) A company that amends its company tax return for an accounting period as mentioned in sub-paragraph (1) must, before the time limit specified in that sub-paragraph, also amend the return to take account of the election (or revocation).

(3) If—

(a) a company is required by section 376 to leave an amount out of account in an accounting period, and

(b) the company has already delivered a company tax return for the period,

the company must amend its company tax return to take account of the requirement.

(4) The amendment must be made before the end of the period of 3 months beginning with the day after the relevant date (within the meaning of section 376).

(5) A company may amend its company tax return for an accounting period so as to make (or revoke) an election under section 377 or 380 at any time before—

(a) the end of the period of 36 months beginning with the day after the end of the accounting period, or

(b) if later, the end of the period of 3 months beginning with the day on which a relevant interest restriction return was received by an officer of Revenue and Customs.

(6) A company that amends its company tax return for an accounting period as mentioned in sub-paragraph (5) must, before the time limit specified in that sub-paragraph, also amend the return to take account of the election (or revocation).

(7) In sub-paragraph (5) “a relevant interest restriction return” means an interest restriction return for a period of account in relation to which the accounting period is a relevant accounting period.

(8) The time limit for amending a company tax return given by paragraph 15(4) of Schedule 18 to FA 1998 is subject to the time limits given by this paragraph.

Other cases where company must amend its return etc

70

(1) If—

(a) a company has delivered a company tax return for an accounting period, but

(b) as a result of the submission of an interest restriction return, information contained in the company tax return is incorrect (for example, there is a change in the amount of profits on which corporation tax is chargeable),

the company must amend its company tax return for the accounting period so as to correct the information.

(1A) The amendment must be made before whichever is the later of—

(a) the end of the period of 3 months beginning with the day on which the interest restriction return was submitted, or

(b) the time limit given by paragraph 15(4) of Schedule 18 to FA 1998.

(2) If—

(a) a notice of determination under paragraph 56 or 58 is given to a company in relation to an accounting period, and

(b) the company has already delivered a company tax return for the period,

the company is treated as having amended its company tax return to take account of the determination.

Failure to comply with a requirement to amend company tax return

70A

(1) This paragraph applies if a company—

(a) is required, as a result of paragraph 69(2), (3) or (6) or 70(1), to make an amendment of its company tax return for an accounting period, and

(b) has failed to make the required amendment by the amendment deadline.

(2) The company is liable to a penalty of £500.

(3) At any time before the end of the period of 12 months beginning with the amendment deadline, an officer of Revenue and Customs may, to the best of the officer's information and belief, make the required amendments of the company tax return.

(4) If an officer of Revenue and Customs amends the company tax return under sub-paragraph (3), the company may amend the return so as to correct the amendments made by the officer.

(5) An amendment under sub-paragraph (4) must be made before the end of the period of 3 months beginning with the day on which the officer amends the return under sub-paragraph (3) (and the time limit for amending a company tax return given by paragraph 15(4) of Schedule 18 to FA 1998 is subject to this sub-paragraph).

(6) Paragraph 29(3) to (7) apply in relation to a penalty under this paragraph as they apply in relation to a penalty under paragraph 29 but as if the reference in paragraph 29(4) to the filing date were to the amendment deadline.

(7) In this paragraph “the amendment deadline” means the end of the period for the making of the amendment given by paragraph 69(2), (4) or (6) or 70(1A).

Regulations for purposes of paragraph 70(2) etc

71

(1) The Commissioners may by regulations—

(a) make provision generally for the purposes of paragraph 70(2), and

(b) make provision for other cases where a company is to be treated as having amended its company tax return.

(2) The provision that may be made by the regulations includes provision—

(a) permitting or requiring the company to deliver an amended company tax return for the accounting period;

(b) specifying amendments that may or must be made in the return;

(c) specifying a time limit for the delivery of the return that is later than that determined under paragraph 15(4) of Schedule 18 to FA 1998 (amendment of return by company).

Consequential claims to company tax returns

72

(1) This paragraph applies if—

(a) a company amends, or is treated as amending, its company tax return for an accounting period in consequence of a closure notice given in respect of an interest restriction return under paragraph 47 or a notice of determination given to the company under paragraph ... 58, and

(b) the amendment has the effect of increasing the amount of corporation tax payable by the company for the accounting period.

(2) Any qualifying claim may be made or given within the period of one year beginning with the day on which the company receives a copy of the closure notice under paragraph 60(5) or the notice of determination.

(3) Any qualifying claim previously made which is not irrevocable—

(a) may be revoked or varied within that one-year period, and

(b) if it is revoked or varied, must be done so in the same manner as it was made and by or with the consent of the same person or persons who made or consented to it (or, if a person has died, by or with the consent of the person's personal representatives).

(4) For the purposes of this paragraph a claim is a “qualifying” claim if its making, revocation or variation has the effect of reducing the liability of the company to corporation tax for the accounting period (whether or not it also reduces the liability to tax of the company for other periods).

(5) But a claim is not a “qualifying” claim if—

(a) the making, revocation or variation of the claim would alter the liability to tax of any person other than the company, or

(b) the making, revocation or variation of the claim is such that, if it were to be made, revoked or varied, the total of the reductions in liability to tax of the company would exceed the additional liability to corporation tax resulting from the amendment.

(6) If a qualifying claim is made, revoked or varied as a result of this paragraph, all such adjustments must be made as are required to take account of the effect of taking that action on the liability of the company to tax for any period.

(7) The adjustments may be made by way of discharge or repayment of tax or the making of amendments, assessments or otherwise.

(8) The provisions of TMA 1970 relating to appeals against decisions on claims apply with any necessary modifications to a decision on the revocation or variation of a claim as a result of this paragraph.

(9) In this paragraph (except in sub-paragraph (8)) “claim” includes an election, an application and a notice, and references to making a claim are to be read accordingly.

(10) In this paragraph “tax” (except in the expression “corporation tax”) includes income tax and capital gains tax.

Meaning of “company tax return”

73

In this Schedule “company tax return” has the meaning given by paragraph 3 of Schedule 18 to FA 1998.

PART 9 — Supplementary

Double jeopardy

74

A person is not liable to a penalty under any provision of this Schedule in respect of anything in respect of which the person has been convicted of an offence.

Notice of appeal

75

Notice of an appeal under this Schedule must specify the grounds of appeal.

Conclusiveness of amounts stated in interest restriction return

76

(1) This paragraph applies to an amount stated in an interest restriction return submitted under paragraph 7 or 8 (“the interest restriction return”), other than an amount that is also stated in a company tax return.

(2) If the amount can no longer be altered, it is taken to be conclusively determined for the purposes of the Corporation Tax Acts.

(3) An amount is regarded as one that can no longer be altered if—

(a) the interest restriction return has not been superseded by a subsequent interest restriction return;

(b) the applicable time limit has passed;

(d) if the closure notice in relation to an enquiry into the interest restriction return contained a statement under paragraph 49(2)(b), the period within which an appeal against the statement may be brought has ended; and

(e) if such an appeal is brought, the appeal has been finally determined.

(4) For the purposes of sub-paragraph (3) the “applicable time limit” means the time limit in paragraph 8(3) or, in a case where paragraph 57(2) or (4) applies and imposes a later time limit for submission of the interest restriction return, that later time limit.

(5) Nothing in this paragraph affects—

(a) the power under paragraph 42 (extended time limits for opening enquiries: discovery of errors), or

(b) any power to make a determination under paragraph 56 or 58 (determinations by officers of Revenue and Customs).

SCHEDULE 8 — Minor and consequential amendments

Part 1 — Double taxation relief

Taxes Management Act 1970 (c. 9)

1

TMA 1970 is amended as follows.

2

In section 9A(4)(c) (scope of enquiries) for “section 804ZA of the principal Act (schemes and arrangements designed to increase relief)” substitute “ section 81(2) of TIOPA 2010 (notice to counteract scheme or arrangement designed to increase double taxation relief) ”.

3

(1) Amend section 12B (records to be kept for purposes of returns) as follows.

(2) In subsection (4A)(c) (records of foreign tax: not sufficient to preserve the information in them) for sub-paragraph (ii) substitute—

(ii) which would have been payable under the law of a territory outside the United Kingdom (“territory F”) but for a development relief.

(3) After subsection (4A) insert—

(4B) In subsection (4A)(c) “development relief” means a relief— (a) given under the law of territory F with a view to promoting industrial, commercial, scientific, educational or other development in a territory outside the United Kingdom, and (b) about which provision is made in arrangements that have effect under section 2(1) of TIOPA 2010 (double taxation relief by agreement with territories outside the United Kingdom).

4

In section 24 (power to obtain information about income from securities) after subsection (3) insert—

(3ZA) If— (a) a person beneficially entitled to income from any securities is resident in a territory outside the United Kingdom, and (b) there are double taxation arrangements with respect to income tax or corporation tax which relate to that territory, subsection (3) does not exempt any bank from the duty of disclosing to the Board particulars relating to the income of that person. (3ZB) In subsection (3ZA) “double taxation arrangements” means arrangements which have effect under section 2(1) of TIOPA 2010 (double taxation relief by agreement with territories outside the United Kingdom).

5

In section 29(7A) (discovery assessments: relaxation of pre-conditions) for “section 804ZA of the principal Act” substitute “ section 81(2) of TIOPA 2010 (notice to counteract scheme or arrangement designed to increase double taxation relief) ”.

6

In section 43C(5) (meaning of consequential claim) for “or 43A” substitute “ , 43A or 43D(6) ”.

7

In Part 4, after section 43C insert—

(43D) (1) This section has effect in relation to a claim for relief under sections 2 to 6 of TIOPA 2010 in relation to petroleum revenue tax. (2) The claim shall be for an amount which is quantified at the time when the claim is made. (3) If, after the claim has been made, the claimant discovers that an error or mistake has been made in the claim, the claimant may make a supplementary claim within the time allowed for making the original claim. (4) Schedule 1A to this Act applies as respects the claim, but as if the reference in paragraph 2A(4) to a year of assessment included a reference to a chargeable period. (5) The claim may not be made more than 4 years after the end of the chargeable period to which it relates, but this is subject to any provision of the Taxes Acts prescribing a longer or shorter period. (6) If the claim or a supplementary claim could not have been allowed but for the making of an assessment to petroleum revenue tax after the end of the chargeable period to which the claim relates, the claim or supplementary claim may be made at any time before the end of the chargeable period following that in which the assessment is made. (7) In this section “chargeable period” has the same meaning as in the Oil Taxation Act 1975 (see section 1(3) and (4) of that Act, under which a period that is a chargeable period ends with 30 June or 31 December and, apart from the first chargeable period in relation to an oil field, is a period of 6 months).

Income and Corporation Taxes Act 1988 (c. 1)

8

ICTA is amended as follows.

9

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

10

In section 750(3)(b) (disregard of certain double taxation relief) for “Part XVIII” substitute “ Part 2 of TIOPA 2010 (double taxation relief) ”.

11

In section 751(6)(a) (“creditable tax” includes amounts of double taxation relief) for “Part XVIII” substitute “ Part 2 of TIOPA 2010 (double taxation relief) ”.

12

In section 755A(4A)(b) (dividend paid by controlled foreign company to company carrying on life assurance business) for “subsection (4) of section 804B of this Act” substitute “ subsection (5) of section 97 of TIOPA 2010 ”.

13

Omit section 788 (giving effect to double taxation arrangements).

14

Omit section 789 (conversion of references to the profits tax in arrangements given effect under old law).

15

Omit section 790 (unilateral relief).

16

Omit section 791 (power to make regulations giving effect to section 788 and double taxation arrangements).

17

Omit sections 792 to 798C (which contain rules about double taxation relief by way of credit).

18

Omit sections 799 and 801 to 801B (double taxation relief: dividends).

19

Omit sections 803 to 804E and 804G to 806 (further rules about credit relief).

20

(1) Amend section 806A as follows.

(2) In subsection (2)—

(a) in paragraph (c) for “section 801A” substitute “ section 67(6) of TIOPA 2010 ”,

(b) in paragraph (c) for “subsection (1)(b) of that section” substitute “ section 67(3) of that Act ”,

(d) in paragraph (d) for “subsection (1)(b) of that section” substitute “ section 70(1)(d) of that Act ”, and

(e) in paragraph (e) for “section 811” substitute “ section 112 of TIOPA 2010 ”.

(3) In subsection (4)(a) for “section 797” substitute “ section 42(2) of TIOPA 2010 ”.

(4) In subsection (5)—

(a) for “section 799(1)” substitute “ section 57(1) of TIOPA 2010 ”,

(b) for “section 801(2) or (3)” substitute “ section 65(4) of TIOPA 2010 ”, and

21

(1) Amend section 806B as follows.

(2) In subsection (2)(b) for “section 797” substitute “ section 42 of TIOPA 2010 ”.

(3) In subsection (3)(b) for “section 799(1)” substitute “ section 57(1) of TIOPA 2010 ”.

(4) In subsection (4)—

(a) in paragraph (a) for “section 799(1)” substitute “ section 57(1) of TIOPA 2010 ”,

(b) in paragraph (b) for “section 799(1A)” substitute “ Step 3 in section 58(1) of TIOPA 2010 ”,

(d) in paragraph (b)(ii) for “U” substitute “ PA ”.

(5) In subsection (5)—

(a) for “subsection (2) or (3) of section 801” substitute “ section 65(4) of TIOPA 2010 ”,

(b) in each of paragraphs (a), (b)(ii) and (c)(ii) for “subsection (2) or (3), as the case may be, of section 801” substitute “ section 65(4) of TIOPA 2010 ”,

(d) for “M%” substitute “ M ”, and

(e) for “U” substitute “ PA ”.

(6) In subsection (7)(b) for “section 799(1)” substitute “ section 59 of TIOPA 2010 ”.

(7) In subsection (10)—

(a) in the definition of “lower level dividend” for “section 801(2) or (3)” substitute “ section 65(4) of TIOPA 2010 ”,

(b) in paragraph (a) of the definition of “the relevant tax” for “section 799(1)” substitute “ section 57(1) of TIOPA 2010 ”, and

22

In section 806C(3) and (4) for “this Part” substitute “ Part 2 of TIOPA 2010 ”.

23

In section 806D(3), (4) and (5) for “this Part” substitute “ Part 2 of TIOPA 2010 ”.

24

In section 806F(1) and (2) for “this Part” substitute “ Part 2 of TIOPA 2010 ”.

25

(1) Amend section 806J (interpretation of sections 806A to 806J) as follows.

(2) In subsection (5)(b) for “subsection (6)(b) of section 790” substitute “ section 15 or 16 of TIOPA 2010 ”.

(3) In subsection (5) for “subsection (10) of that section” substitute “ section 12(3) of TIOPA 2010 ”.

(4) For subsection (6) substitute—

(6) For the purposes of the foreign dividend provisions of this Chapter a company is related to another company if that other company— (a) controls directly or indirectly, or (b) is a subsidiary of a company which controls directly or indirectly, at least 10% of the voting power in the first-mentioned company.

(5) In subsection (7) in the definition of “the mixer cap” for “section 799(1)” substitute “ Step 6 in section 58(1) of TIOPA 2010 ”.

26

Omit sections 806L and 806M (unrelieved foreign tax).

27

Omit sections 807 and 807A (provision, in connection with relief, about accrued income profits and about loan relationships).

28

Omit sections 807B to 807G (provisions related to the Mergers Directive).

29

Omit sections 808A to 809 and 811 (provision, in connection with relief, about interest, royalties and discretionary trusts, and for deductions where no credit allowed).

30

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

31

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

32

Omit sections 815A to 815B and 816 (provision, in connection with relief, about transfer of non-UK trades, about foreign enterprises and about cases presented under arrangements, and provision about the Arbitration Convention and about disclosure of information).

33

In section 828(4) (orders and regulations not subject to annulment) omit “791”.

34

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

35

(1) Amend Schedule 26 (reliefs against liability for tax in respect of chargeable profits of controlled foreign companies) as follows.

(2) In paragraph 3(5)(b) for “Part XVIII” substitute “ Part 2 of TIOPA 2010 ”.

(3) In paragraph 4(2) for “Part XVIII” substitute “ Part 2 of TIOPA 2010 (double taxation relief) ”.

(4) In paragraph 4(4) for “section 796 or section 797” substitute “ section 36, 40, 41 or 42 of TIOPA 2010 ”.

(5) In paragraph 5(1) for paragraphs (a) and (b) substitute—

(a) arrangements which have effect under section 2(1) of TIOPA 2010 (double taxation relief by agreement with territories outside the United Kingdom), or (b) unilateral relief arrangements for a territory outside the United Kingdom (as defined by section 8 of that Act),

(6) In paragraph 5(1) for “Part XVIII” substitute “ Part 2 of TIOPA 2010 ”.

(7) In paragraph 5(2) for “section 795(2)(b)” substitute “ section 31(2)(b) and (3) of TIOPA 2010 ”.

(8) In paragraph 6(1)(c) for “Part XVIII” substitute “ Part 2 of TIOPA 2010 ”.

36

Omit Schedule 28AB (prescribed schemes and arrangements for purposes of section 804ZA).

Finance Act 1989 (c. 26)

37

FA 1989 is amended as follows.

38

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

39

In section 182A(6) (double taxation: disclosure of information: interpretation) for “section 815B(4) of the Taxes Act 1988” substitute “ section 126 of the Taxation (International and Other Provisions) Act 2010 ”.

Taxation of Chargeable Gains Act 1992 (c. 12)

40

TCGA 1992 is amended as follows.

41

In section 10(4) (persons exempt under Part 18 of ICTA) for “Part XVIII of the Taxes Act (double taxation relief agreements)” substitute “ Part 2 of TIOPA 2010 (double taxation relief) ”.

42

In section 10B(3) (companies exempt under Part 18 of ICTA) for “Part 18 of the Taxes Act (double taxation relief agreements)” substitute “ Part 2 of TIOPA 2010 (double taxation relief) ”.

43

In section 59(2)(b) (arrangements giving relief for partnership gains) for “falling within section 788 of the Taxes Act” substitute “ that have effect under section 2(1) of TIOPA 2010 ”.

44

In sections 140H(3), 140I(3) and 140J(3) (gains on which tax would have been charged but for the Mergers Directive)—

(a) for “Part 18 of the Taxes Act” substitute “ Part 2 of TIOPA 2010 ”, and

(b) for “arrangements having effect by virtue of section 788 of that Act (bilateral relief)” substitute “ double taxation relief arrangements ”.

45

Omit section 277 (application to capital gains tax of provisions about double taxation relief).

46

Omit section 278 (deduction for foreign gains tax in respect of which double taxation relief by way of credit against UK tax not allowed).

47

In section 288(1) (interpretation) for the definition of “double taxation relief arrangements” substitute—

“double taxation relief arrangements”— (a) in relation to a company means arrangements that have effect under section 2(1) of TIOPA 2010 except so far as they have effect in relation to petroleum revenue tax, and (b) in relation to any other person means arrangements that have effect under section 2(1) of TIOPA 2010 but only so far as they have effect in relation to capital gains tax;

Finance Act 1993 (c. 34)

48

FA 1993 is amended as follows.

49

Omit section 194 (application to petroleum revenue tax of provisions about double taxation relief).

50

In section 195(3) (interpretation of Part 3) omit “, other than section 194,”.

Finance (No. 2) Act 1997 (c. 58)

51

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

52

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

Finance Act 1998 (c. 36)

53

FA 1998 is amended as follows.

54

(1) Amend Schedule 18 (company tax returns etc) as follows.

(2) In paragraph 8(1) (calculation of tax payable)—

(a) in paragraph 2 of the Second step for “section 788 or 790 of that Act” substitute “ under sections 2 and 6 of TIOPA 2010 or under section 18(1)(b) and (2) of that Act ”, and

(b) in paragraph 3 of that step for “that Act” substitute “ the Taxes Act 1988 ”.

(3) In paragraph 22(3)(c) (records of foreign tax: not sufficient to preserve the information in them) for sub-paragraph (ii) substitute—

(ii) which would have been payable under the law of a territory outside the United Kingdom (“territory F”) but for a development relief.

(4) In paragraph 22 after sub-paragraph (3) insert—

(4) In sub-paragraph (3)(c) “development relief” means a relief— (a) given under the law of territory F with a view to promoting industrial, commercial, scientific, educational or other development in a territory outside the United Kingdom, and (b) about which provision is made in arrangements which have effect under section 2(1) of TIOPA 2010 (double taxation relief by agreement with territories outside the United Kingdom).

Finance Act 2000 (c. 17)

55

FA 2000 is amended as follows.

56

(1) Amend Schedule 22 (tonnage tax) as follows.

(2) For paragraph 57(2)(a) (“relief” includes double taxation relief) substitute—

(a) sections 2 and 6 of the Taxation (International and Other Provisions) Act 2010 (double taxation relief by agreement with territories outside the United Kingdom), (aa) section 18(1)(b) and (2) of that Act (unilateral relief from double taxation), or

Capital Allowances Act 2001 (c. 2)

57

CAA 2001 is amended as follows.

58

In section 105(4) (meaning of “double taxation arrangements”) for the words from “specified” to the end substitute “ which have effect under section 2(1) of the Taxation (International and Other Provisions) Act 2010 (double taxation relief by agreement with territories outside the United Kingdom) ”.

Income Tax (Earnings and Pensions) Act 2003 (c. 1)

59

ITEPA 2003 is amended as follows.

60

In section 643(6) in the definition of “double taxation relief arrangements” for the words from “specified” to the end substitute “ which have effect under section 2(1) of TIOPA 2010; ”.

Finance Act 2004 (c. 12)

61

FA 2004 is amended as follows.

62

In Chapter 7 of Part 3 (special withholding tax) omit—

(a) sections 107 to 111,

(b) sections 113 and 114, and

63

In section 189(3) (treatment of relevant UK earnings) for “by virtue of section 788 of ICTA” substitute “ under section 2(1) of the Taxation (International and Other Provisions) Act 2010 ”.

64

In Schedule 34 (non-UK pensions schemes: application of certain charges) in paragraph 20 (meaning of “double tax arrangements”) for “by virtue of section 788 of ICTA” substitute “ under section 2(1) of the Taxation (International and Other Provisions) Act 2010 ”.

Income Tax (Trading and Other Income) Act 2005 (c. 5)

65

ITTOIA 2005 is amended as follows.

66

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

67

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

68

In section 763(3) (priority of double taxation arrangements) for “section 788 of ICTA” substitute “ section 2(1) of TIOPA 2010 ”.

69

(1) Section 764 (application of ICTA provisions about special relationships) is amended as follows.

(2) In subsection (1), and in the title, for “ICTA” substitute “ TIOPA 2010 ”.

(3) In subsection (1) for “special relationship provision” substitute “ special relationship rule ”.

(4) In subsection (2) for “subsections (2) to (4) of section 808A of ICTA” substitute “ section 131(3), (5) and (6) of TIOPA 2010 ”.

(5) In subsection (3) for “subsections (2) to (7) and (9) of section 808B of ICTA” substitute “ sections 132(3) to (5), (7) and (8) and 133 of TIOPA 2010 ”.

70

In section 858(1)(b) (resident partners and double taxation agreements) for “section 788 of ICTA” substitute “ section 2(1) of TIOPA 2010 ”.

Income Tax Act 2007 (c. 3)

71

ITA 2007 is amended as follows.

72

In section 1(2)(a) (example of income tax provisions located outside ITA 2007) for “Part 18 of ICTA” substitute “ Part 2 of TIOPA 2010 ”.

73

(1) Amend section 26(1)(b) (provisions referred to at Step 6 of the calculation in section 23) as follows.

(2) Omit the entries for sections 788 and 790 of ICTA.

(3) Omit “and” before the entry for sections 677 and 678 of ITTOIA 2005.

(4) After that entry insert—

sections 2 and 6 of TIOPA 2010 (double taxation relief: relief by agreement), and section 18(1)(b) and (2) of TIOPA 2010 (relief for foreign tax where no double taxation arrangements).

74

In section 27(6) (tax reductions for individuals by way of double taxation relief)—

(a) in paragraph (a) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”, and

(b) in paragraph (b) for “section 790(1) of ICTA” substitute “ section 18(1)(b) and (2) of TIOPA 2010 ”.

75

In section 28(4) (tax reductions for non-individuals by way of double taxation relief)—

(a) in paragraph (a) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”, and

(b) in paragraph (b) for “section 790(1) of ICTA” substitute “ section 18(1)(b) and (2) of TIOPA 2010 ”.

76

(1) Amend section 29 (tax reductions: supplementary) as follows.

(2) In subsection (4)(a) for “section 796(1), (2) and (3) of ICTA” substitute “ sections 36(1) to (5) and (7) and 41 of TIOPA 2010 ”.

(3) In subsection (5) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”.

77

(1) Amend section 32 (liabilities not dealt with in calculation under section 23) as follows.

(2) Omit the entry for section 804(5B)(a) of ICTA.

(3) Omit the word “and” before the entry for section 682(4) of ITTOIA 2005.

(4) After that entry insert

, and under section 24(4) of TIOPA 2010 (recovery of excess credit for overseas tax).

78

(1) Amend section 53 (transfer of unused relief: general) as follows.

(2) In subsection (2) (tax reductions by way of double taxation relief)—

(a) in paragraph (a) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”, and

(b) in paragraph (b) for “section 790(1) of ICTA” substitute “ section 18(1)(b) and (2) of TIOPA 2010 ”.

(3) In subsection (5) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”.

79

(1) In section 424(2) (gift aid: charge to tax: interpretation) amend paragraph (b) of the definition of “amount C” as follows.

(2) In sub-paragraph (i) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”.

(3) In sub-paragraph (ii) for “section 790(1) of ICTA” substitute “ section 18(1)(b) and (2) of TIOPA 2010 ”.

80

(1) Amend section 425 (“total amount of income tax” in sections 423 and 424) as follows.

(2) In subsection (4) (tax reductions to be ignored)—

(a) in paragraph (b) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”, and

(b) in paragraph (c) for “section 790(1) of ICTA” substitute “ section 18(1)(b) and (2) of TIOPA 2010 ”.

(3) In subsection (6) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”.

81

In section 527(2) omit paragraph (b) (subsection (1) does not apply to income chargeable to tax under section 804 of ICTA).

82

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

83

In section 828C(4) (entitlement to double taxation relief)—

(a) in paragraph (a) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”, and

(b) in paragraph (b) for “section 790(1)” substitute “ section 18(1)(b) and (2) ”.

84

In section 849(1) (interaction between Part 15 of ITA 2007 and regulations under section 791 of ICTA) for “section 791 of ICTA (double taxation relief: power to make regulations for carrying out section 788)” substitute “ section 7 of TIOPA 2010 (double taxation arrangements: general regulations) ”.

85

In section 1023 (meaning in Act of “double taxation arrangements”) for “section 788 of ICTA” substitute “ section 2(1) of TIOPA 2010 ”.

86

In section 1026—

(a) after paragraph (e) insert “ or ”, and

(b) omit paragraph (g) (“non-qualifying income” in section 1025 includes deemed receipts under section 804(5B) of ICTA) and the “or” preceding it.

Finance Act 2008 (c. 9)

87

FA 2008 is amended as follows.

88

In Schedule 17 in paragraph 10(3) after paragraph (c) insert “ and ”.

Corporation Tax Act 2009 (c. 4)

89

CTA 2009 is amended as follows.

90

In section 464(3)—

(a) in paragraph (f) for “section 795(4) of ICTA” substitute “ section 31(5) of TIOPA 2010 ”, and

(b) in paragraph (g) for “section 811(3) of ICTA” substitute “ section 112(5) of TIOPA 2010 ”.

91

In section 486(2) for “section 811 of ICTA” substitute “ section 112 of TIOPA 2010 ”.

92

In section 550(7) (meaning of “double taxation relief”) for “Part 18 of ICTA” substitute “ Part 2 of TIOPA 2010 ”.

93

In section 697(3)(a) (exceptions to section 696) for “because of section 788 of ICTA” substitute “ under section 2(1) of TIOPA 2010 ”.

94

In section 782(1)(a) (intangible fixed assets transferred in the course of certain transfers of a business)—

(a) for “section 807B(2)(b)(iii) of ICTA” substitute “ section 116(2)(b)(iii) of TIOPA 2010 ”, and

(b) for “section 807C” substitute “ section 117 ”.

95

In section 793(3)(b) (when election under section 792 may be made) for “arrangements under Part 18 of ICTA” substitute “ arrangements that have effect under section 2(1) of TIOPA 2010 ”.

96

In section 827(7) (no claim under section if claim made under section 807B(6) of ICTA)—

(a) for “section 807B(6) of ICTA” substitute “ section 116(6) of TIOPA 2010 ”, and

(b) for “section 807C” substitute “ section 117 ”.

97

In section 906(3)—

(a) omit “and” after paragraph (a), and

(b) after paragraph (b) insert

, and (c) section 112(5) of TIOPA 2010 (deduction for foreign tax where no credit available).

98

For section 931C(1)(a) (which refers to arrangements to which section 788 of ICTA applies) substitute—

(a) arrangements made in relation to the territory have effect under section 2(1) of TIOPA 2010 (“double taxation relief arrangements”), and

99

In section 931H(5) for “Part 18 of ICTA” substitute “ Part 2 of TIOPA 2010 ”.

100

In section 931J(7) for “Part 18 of ICTA” substitute “ Part 2 of TIOPA 2010 ”.

101

In section 1266(1)(b) (resident partners and double taxation agreements) for “section 788 of ICTA” substitute “ section 2(1) of TIOPA 2010 ”.

Finance Act 2009 (c. 10)

102

FA 2009 is amended as follows.

103

In section 56(1) (tax in respect of MEPs' pay) for “Part 18 of ICTA (double tax” substitute “ Part 2 of TIOPA 2010 (double taxation ”.

104

In Schedule 16 in paragraph 7(2)(a) (purposes for which straddling accounting periods are split) after “Chapter 4 of Part 17, and Part 18, of ICTA” insert “ and Part 2 of TIOPA 2010 ”.

105

In Schedule 35 in paragraph 2(4)(b) for “section 788 of ICTA” substitute “ sections 2 and 6 of TIOPA 2010 ”.

Part 2 — Transfer pricing and advance pricing agreements

Taxes Management Act 1970 (c. 9)

106

TMA 1970 is amended as follows.

107

In section 9A(4)(b) (scope of enquiries) for “paragraph 5C of Schedule 28AA to the principal Act” substitute “ section 168(1) of TIOPA 2010 ”.

108

(1) Amend the second column of the Table in section 98 (special returns etc) as follows.

(2) Omit the entry for section 86(4) of FA 1999.

(3) At the appropriate place insert—

Section 228 of TIOPA 2010.

Income and Corporation Taxes Act 1988 (c. 1)

109

ICTA is amended as follows.

110

Omit section 770A (which introduces Schedule 28AA).

111

Omit Schedule 28AA (transfer pricing).

Finance Act 1998 (c. 36)

112

FA 1998 is amended as follows.

113

Omit section 110 (determinations requiring the sanction of the Commissioners for Her Majesty's Revenue and Customs).

114

Omit section 111 (duty to give notice to persons who may be able to make or amend a claim under paragraph 6 of Schedule 28AA or who may have rights to be heard in appeals under that Schedule).

Finance Act 1999 (c. 16)

115

FA 1999 is amended as follows.

116

Omit section 85 (advance pricing agreements).

117

Omit section 86(1) to (8) and (10) (provisions supplementary to section 85).

118

Omit section 87 (effect of advance pricing agreements on non-parties).

Finance Act 2000 (c. 17)

119

(1) Schedule 22 to FA 2000 (tonnage tax) is amended as follows.

(2) In paragraph 58(1) for the words after paragraph (b) substitute—

Part 4 of the Taxation (International and Other Provisions) Act 2010 (transactions not at arm's length) has effect with the omission of sections 174 to 184, 187 to 189 and 191 to 196 (elimination of double counting etc).

(3) In paragraph 58(2) for “Schedule 28AA” substitute “ Part 4 of the Taxation (International and Other Provisions) Act 2010 ”.

(4) In paragraph 59(1) for “Schedule 28AA to the Taxes Act 1988” substitute “ Part 4 of the Taxation (International and Other Provisions) Act 2010 ”.

(5) For paragraph 59(2) substitute—

(2) As applied by sub-paragraph (1), Part 4 of the Taxation (International and Other Provisions) Act 2010 has effect with the omission of sections 174 to 184, 187 to 189 and 191 to 196 (elimination of double counting etc).

(6) In paragraph 59(3) for “Schedule 28AA” substitute “ Part 4 of the Taxation (International and Other Provisions) Act 2010 ”.

(7) In paragraph 60(2) for “Schedule 28AA” substitute “ Part 4 of the Taxation (International and Other Provisions) Act 2010 ”.

Income Tax (Trading and Other Income) Act 2005 (c. 5)

120

ITTOIA 2005 is amended as follows.

121

(1) Amend section 172F (transfer pricing rules to take precedence over sections 172D and 172E) as follows.

(2) In subsection (1)(a) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(3) In subsection (1)(b) for “that Schedule” substitute “ that Part ”.

(4) In subsection (2) for “Schedule 28AA to ICTA without falling to be adjusted under that Schedule” substitute “ Part 4 of TIOPA 2010 without falling to be adjusted under that Part ”.

(5) For subsection (2)(a) and (b) substitute—

(a) the condition in section 147(1)(a) of TIOPA 2010 is met, and (aa) the participation condition is met (see subsection (2B)), but (b) either— (i) one of the conditions in section 147(1)(c) and (d) of TIOPA 2010 is not met, or (ii) one of the exceptions mentioned in subsection (2A) applies.

(6) After subsection (2) insert—

(2A) The exceptions are those in— (a) section 447(5) of CTA 2009 (exchange gains or losses from loan relationships), (b) section 694(8) of CTA 2009 (exchange gains or losses from derivative contracts), (c) section 213 of TIOPA 2010 (saving for provisions relating to capital allowances), and (d) section 214 of TIOPA 2010 (saving for provisions relating to chargeable gains). (2B) Section 148 of TIOPA 2010 (when the participation condition is met) applies for the purposes of subsection (2)(aa) as it applies for the purposes of section 147(1)(b) of TIOPA 2010.

122

In section 173(2) (trading stock not to be valued if paragraph 1(2) of Schedule 28AA to ICTA has effect) for “paragraph 1(2) of Schedule 28AA to ICTA” substitute “ section 147(3) or (5) of TIOPA 2010 ”.

Corporation Tax Act 2009 (c. 4)

123

CTA 2009 is amended as follows.

124

(1) Amend section 161 (transfer pricing rules take precedence over rules about disposals and acquisitions of trading stock not made in course of the trade concerned) as follows.

(2) In subsection (1)(a) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(3) In subsection (1)(b) for “that Schedule” substitute “ that Part ”.

(4) For subsection (2) substitute—

(2) For the purposes of subsection (1)(b), the relevant consideration falls within Part 4 of TIOPA 2010 without falling to be adjusted under that Part if— (a) the condition in section 147(1)(a) of TIOPA 2010 is met, and (b) the participation condition is met (see subsection (3A)), but (c) either— (i) one of the conditions in section 147(1)(c) and (d) of TIOPA 2010 is not met, or (ii) one of the exceptions mentioned in subsection (3) applies.

(5) In subsection (3) for paragraphs (c) and (d) substitute—

(c) section 213 of TIOPA 2010 (saving for provisions relating to capital allowances), and (d) section 214 of TIOPA 2010 (saving for provisions relating to chargeable gains).

(6) After subsection (3) insert—

(3A) Section 148 of TIOPA 2010 (when the participation condition is met) applies for the purposes of subsection (2)(b) as it applies for the purposes of section 147(1)(b) of TIOPA 2010.

125

In section 162(2) (trading stock not to be valued if paragraph 1(2) of Schedule 28AA to ICTA has effect) for “paragraph 1(2) of Schedule 28AA to ICTA” substitute “ section 147(3) or (5) of TIOPA 2010 ”.

126

In section 340(7) (Schedule 28AA to ICTA does not apply to amounts accounted for under the section) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

127

In section 374(3)(a) (meaning of non-qualifying territory) for “paragraph 5E of Schedule 28AA to ICTA” substitute “ section 173 of TIOPA 2010 ”.

128

(1) Amend section 376(5) (interpretation of section 375) as follows.

(2) In the definition of “non-qualifying territory” for “paragraph 5E of Schedule 28AA to ICTA” substitute “ section 173 of TIOPA 2010 ”.

(3) In the definition of “small or medium-sized enterprise” for “paragraph 5D of that Schedule” substitute “ section 172 of TIOPA 2010 ”.

129

In section 377(3)(a) (meaning of non-qualifying territory) for “paragraph 5E of Schedule 28AA to ICTA” substitute “ section 173 of TIOPA 2010 ”.

130

In section 407(6)(a) (meaning of non-qualifying territory) for “paragraph 5E of Schedule 28AA to ICTA” substitute “ section 173 of TIOPA 2010 ”.

131

(1) Amend section 410(5) (interpretation of section) as follows.

(2) In the definition of “non-qualifying territory” for “paragraph 5E of Schedule 28AA to ICTA” substitute “ section 173 of TIOPA 2010 ”.

(3) In the definition of “small or medium-sized enterprise” for “paragraph 5D of that Schedule” substitute “ section 172 of TIOPA 2010 ”.

132

In section 444(3) (section is subject to section 445) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

133

(1) Amend section 445 (disapplication of section 444 where Schedule 28AA to ICTA applies) as follows.

(2) In subsection (1) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(3) In each of paragraphs (a) and (b) of that subsection for “that Schedule” substitute “ that Part ”.

(4) In subsection (2)(a) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(5) In subsection (2)(b) for “that Schedule” substitute “ that Part ”.

(6) In subsection (3) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(7) For subsection (3)(a) substitute—

(a) the condition in section 147(1)(a) of TIOPA 2010 is met, (aa) the participation condition is met (see subsection (3A)), and

(8) After subsection (3) insert—

(3A) Section 148 of TIOPA 2010 (when the participation condition is met) applies for the purposes of subsection (3)(aa) as it applies for the purposes of section 147(1)(b) of TIOPA 2010.

(9) In subsection (4) for “Schedule 28AA to ICTA,” substitute “ Part 4 of TIOPA 2010, ”.

(10) In subsection (5) for “Schedule 28AA to ICTA (see paragraph 1 of that Schedule)” substitute “ Part 4 of TIOPA 2010 (see sections 149 and 151 of that Act) ”.

(11) In the title for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

134

(1) Amend section 446 (bringing into account adjustments made under Schedule 28AA to ICTA) as follows.

(2) In each of subsections (1), (2), (4) and (6), and in the title, for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

135

(1) Amend section 447 (exchange gains and losses on debtor relationships: loans disregarded under Schedule 28AA to ICTA) as follows.

(2) In subsection (1)(c) for “paragraph 1 of Schedule 28AA to ICTA” substitute “ section 147(3) or (5) of TIOPA 2010 ”.

(3) In subsection (5) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(4) In subsection (7) for “Schedule 28AA to ICTA (see paragraph 1 of that Schedule)” substitute “ Part 4 of TIOPA 2010 (see sections 149 and 151 of that Act) ”.

(5) In the title for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

136

In section 452(1)(a) and (3)(a) (exchange gains and losses where loan not on arm's length terms) for “paragraph 6D(2) of Schedule 28AA to ICTA” substitute “ section 192(1) of TIOPA 2010 ”.

137

In section 455(5) (section does not apply if paragraph 1(2) of Schedule 28AA to ICTA has effect) for “paragraph 1(2) of Schedule 28AA to ICTA” substitute “ section 147(3) or (5) of TIOPA 2010 ”.

138

In section 464(3)(a) (which refers to and describes section 445(2)) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

139

In section 484(1) (non-lending relationships treated as loan relationships: meaning of “interest”) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

140

In section 508(2) (arrangements which are not alternative finance arrangements)—

(a) in paragraph (b) for “paragraph 1(2) of Schedule 28AA to ICTA” substitute “ subsection (3) or (5) of section 147 of TIOPA 2010 ”,

(b) in that paragraph for “in paragraph 1(2)(a) of that Schedule” substitute “ in that subsection ”, and

141

In section 625(7) (Schedule 28AA to ICTA does not apply to amounts if credits or debits in respect of those amounts are determined under the section), for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

142

(1) Amend section 693 (bringing into account adjustments under Schedule 28AA to ICTA) as follows.

(2) In subsections (1), (2) and (4), and the title, for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

143

(1) Amend section 694 (exchange gains and losses where derivative contracts not on arm's length terms) as follows.

(2) In subsections (2), (4) and (8) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(3) In subsection (10) for “Schedule 28AA to ICTA (see paragraph 1 of that Schedule)” substitute “ Part 4 of TIOPA 2010 (see sections 149 and 151 of that Act) ”.

144

In section 698(5) (section does not apply if paragraph 1(2) of Schedule 28AA to ICTA increases company's tax liability) for “paragraph 1(2) of Schedule 28AA to ICTA” substitute “ section 147(3) or (5) of TIOPA 2010 ”.

145

(1) In the provisions mentioned in sub-paragraph (2) (provisions which relate to intangible fixed assets and refer to matters being subject to adjustments under Schedule 28AA to ICTA) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(2) The provisions are—

section 721(3),

section 728(3),

section 729(4),

section 731(5),

section 736(7),

section 739(2),

section 740(4),

section 742(3), and

section 743(3).

146

In section 775(3) (intangible fixed assets: transfers within a group) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

147

(1) Amend section 846 (intangible fixed assets: transfers not at arm's length) as follows.

(2) In subsection (1)(a) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

(3) In subsection (1)(b) for “that Schedule” substitute “ that Part ”.

(4) In subsection (2) for “within that Schedule” substitute “ within that Part ”.

(5) For subsection (2)(a) substitute—

(a) the condition in section 147(1)(a) of TIOPA 2010 is met, (aa) the participation condition is met (see subsection (2A)), and

(6) After subsection (2) insert—

(2A) Section 148 of TIOPA 2010 (when the participation condition is met) applies for the purposes of subsection (2)(aa) as it applies for the purposes of section 147(1)(b) of TIOPA 2010.

(7) In subsection (3) for the words after “meaning” substitute “ as in that Part (see, respectively, sections 149 and 151 of TIOPA 2010) ”.

148

In section 931P(4) (section does not apply if Schedule 28AA to ICTA applies) for “Schedule 28AA to ICTA” substitute “ Part 4 of TIOPA 2010 ”.

Finance Act 2009 (c. 10)

149

FA 2009 is amended as follows.

150

In Schedule 17 (international movement of capital) in paragraph 12(5) for “Paragraph 3 of Schedule 28AA to ICTA” substitute “ Section 150 of TIOPA 2010 ”.

Part 3 — Tax arbitrage

Finance (No. 2) Act 2005 (c. 22)

151

F(No.2)A 2005 is amended as follows.

152

Omit sections 24 to 28 (avoidance involving tax arbitrage).

153

Omit section 30 (interpretation of Chapter 4 of Part 2).

154

Omit section 31 (commencement of Chapter 4 of Part 2).

155

Omit Schedule 3 (qualifying schemes).

Part 4 — Tax treatment of financing costs and income

Taxes Management Act 1970 (c. 9)

156

TMA 1970 is amended as follows.

157

(1) Amend the first column of the Table in section 98 (special returns etc) as follows.

(2) Omit the entry for regulations under Schedule 15 to FA 2009.

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

Finance Act 2009

158

FA 2009 is amended as follows.

159

Omit section 35 (which introduces Schedule 15).

160

Omit paragraphs 1 to 94 and 97 to 99 of Schedule 15 (tax treatment of financing costs and income).

Part 5 — Offshore funds

Inheritance Tax Act 1984 (c. 51)

161

The Inheritance Tax Act 1984 is amended as follows.

162

In section 174(1)(a) (income tax and unpaid inheritance tax) for “made under section 41(1) of the Finance Act 2008” substitute “ under section 354(1) of the Taxation (International and Other Provisions) Act 2010 ”.

Taxation of Chargeable Gains Act 1992 (c. 12)

163

TCGA 1992 is amended as follows.

164

In section 108(1)(c) (identification of relevant securities for corporation tax) for “made under section 41(1) of the Finance Act 2008” substitute “ under section 354(1) of TIOPA 2010 ”.

165

In section 212(1)(b) (annual deemed disposal of unit trusts etc) for “section 40A of the Finance Act 2008” substitute “ section 355 of TIOPA 2010 ”.

166

In Schedule 7AD (gains of insurance company from venture capital investment partnership) in paragraph 7(1) for “made under section 41(1) of the Finance Act 2008” substitute “ under section 354(1) of TIOPA 2010 ”.

Income Tax (Trading and Other Income) Act 2005 (c. 5)

167

ITTOIA 2005 is amended as follows.

168

In section 378A(7) (offshore fund distributions) for “section 40A of FA 2008” substitute “ section 354 of TIOPA 2010 (see sections 355 to 363 of that Act) ”.

Finance Act 2008 (c. 9)

169

FA 2008 is amended as follows.

170

Omit sections 40A to 42A (offshore funds).

Corporation Tax Act 2009 (c. 4)

171

CTA 2009 is amended as follows.

172

In section 489 (meaning of “offshore fund etc”)—

(a) for “Sections 40A to 40G of FA 2008” substitute “ Sections 355 to 363 of TIOPA 2010 ”, and

(b) for “sections 40A to 42A” substitute “ Part 8 ”.

Finance Act 2009 (c. 10)

173

FA 2009 is amended as follows.

174

Omit paragraph 6 of Schedule 22 (restriction on regulation-making power under section 41 of FA 2008).

Part 6 — Oil activities

Finance Act 1980 (c. 48)

175

FA 1980 is amended as follows.

176

In section 107(7) (transmedian fields) for “Chapter V of Part XII of the Taxes Act 1988” substitute “ Chapter 16A of Part 2 of the Income Tax (Trading and Other Income) Act 2005 ”.

Finance Act 1982 (c. 39)

177

FA 1982 is amended as follows.

178

In section 134(1) (alternative valuation of ethane used for petrochemical purposes) for “Chapter V of Part XII of the Taxes Act 1988” substitute “ Chapter 16A of Part 2 of the Income Tax (Trading and Other Income) Act 2005 ”.

179

In Schedule 19 (supplementary provisions relating to advance petroleum revenue tax) omit paragraph 10(7).

Income and Corporation Taxes Act 1988 (c. 1)

180

ICTA is amended as follows.

181

Omit section 493(1) to (6) (valuation of oil disposed of or appropriated in certain circumstances).

182

Omit section 495 (regional development grants).

183

Omit section 496 (tariff receipts and tax-exempt tariffing receipts).

184

Omit section 502(1) and (2) (interpretation of Chapter 5).

Finance Act 1991 (c. 31)

185

FA 1991 is amended as follows.

186

Omit sections 62 to 65 (abandonment guarantees and abandonment expenditure).

Finance Act 1999 (c. 16)

187

FA 1999 is amended as follows.

188

In section 98(7) (qualifying assets) for paragraphs (b) and (c) substitute—

(ba) Chapter 16A of Part 2 of the Income Tax (Trading and Other Income) Act 2005 (oil activities).

Income Tax (Trading and Other Income) Act 2005 (c. 5)

189

ITTOIA 2005 is amended as follows.

190

In section 16(3) (oil extraction and related activities) for “section 502(1) of ICTA” substitute “ sections 225A and 225B ”.

191

In Part 2 of Schedule 4 (index of defined expressions) at the appropriate places insert—

abandonment guarantee (in Chapter 16A of Part 2)	section 225N(6)”
“chargeable period (in Chapter 16A of Part 2)	section 225E”
“contributing participator (in Chapter 16A of Part 2)	section 225R(3)”
“the defaulter (in Chapter 16A of Part 2)	section 225R(3)”
“default payment (in Chapter 16A of Part 2)	section 225R(3)”
“designated area (in Chapter 16A of Part 2)	section 225E”
“the guarantor (in Chapter 16A of Part 2)	section 225N(6)”
“oil (in Chapter 16A of Part 2)	section 225E”
“oil extraction activities (in Chapter 16A of Part 2)	section 225A”
“oil field (in Chapter 16A of Part 2)	section 225E”
“oil rights (in Chapter 16A of Part 2)	section 225B”
“OTA 1975 (in Chapter 16A of Part 2)	section 225E”
“participator (in Chapter 16A of Part 2)	section 225E”
“the relevant participator (in Chapter 16A of Part 2)	section 225N(6)”
“ring fence income (in Chapter 16A of Part 2)	section 225C”
“ring fence trade (in Chapter 16A of Part 2)	section 225D

Income Tax Act 2007 (c. 3)

192

ITA 2007 is amended as follows.

193

In section 80(3) (ring fence income) for “same meaning as in Chapter 5 of Part 12 of ICTA (see section 502 of that Act)” substitute “ meaning given by sections 225A and 225B of ITTOIA 2005 ”.

Part 7 — Alternative finance arrangements

Finance Act 1986 (c. 41)

194

FA 1986 is amended as follows.

195

In section 78(7)(d) (loan capital)—

(a) for “which fall within section 48A of the Finance Act 2005” substitute “ to which section 564G of the Income Tax Act 2007 ”, and

(b) after “bonds)” insert “ applies ”.

196

In section 79 (loan capital: new provisions)—

(a) in subsection (6), as it has effect by virtue of subsection (8A)(a) of that section, for “section 48A(1) of the Finance Act 2005”, in both places, substitute “ section 564G(1) of the Income Tax Act 2007 ”, and

(b) in subsection (8A)(b) for “section 48A of the Finance Act 2005” substitute “ section 564G of the Income Tax Act 2007 ”.

197

In section 99(9A) (interpretation)—

(a) for “falling within section 48A of the Finance Act 2005” substitute “ to which section 564G of the Income Tax Act 2007 ”, and

(b) after “bonds)” insert “ applies ”.

Taxation of Chargeable Gains Act 1992 (c. 12)

198

TCGA 1992 is amended as follows.

199

In section 99(2) (application of Act to unit trust schemes) for “section 99A” substitute “ sections 99A and 151W(a) ”.

200

In section 117 (meaning of “qualifying corporate bond”) for subsection (6D) substitute—

(6D) Section 151T provides for arrangements to which section 151N (alternative finance arrangements: investment bond arrangements) applies also to be a corporate bond for the purposes of this section.

201

Omit section 151F (treatment of alternative finance arrangements).

202

In the Table in section 288(8) (interpretation), in the entry for “unit trust scheme” and “unit holder”, for “and 99A” substitute “ , 99A and 151W(a) ”.

Income Tax (Earnings and Pensions) Act 2003 (c. 1)

203

ITEPA 2003 is amended as follows.

204

In section 420(1) (meaning of securities etc) for paragraph (h) and the “and” immediately preceding it substitute

and (h) arrangements to which section 564G of ITA 2007 (alternative finance arrangements: investment bond arrangements) applies.

Finance Act 2003 (c. 14)

205

FA 2003 is amended as follows.

206

In section 71A(8) (alternative property finance: land sold to a financial institution and leased to individual) for “section 46 of the Finance Act 2005” substitute “ section 564B of the Income Tax Act 2007 ”.

207

In section 72(7) (alternative property finance in Scotland: land sold to a financial institution and leased to individual) for “section 46 of the Finance Act 2005” substitute “ section 564B of the Income Tax Act 2007 ”.

208

In section 72A(8) (alternative property finance in Scotland: land sold to a financial institution and individual in common) for “section 46 of the Finance Act 2005” substitute “ section 564B of the Income Tax Act 2007 ”.

209

In section 73(5)(a) (alternative property finance: land sold to a financial institution and resold to individual) for “section 46 of the Finance Act 2005” substitute “ section 564B of the Income Tax Act 2007 ”.

210

In section 73C (alternative finance investment bonds) for “falling within section 48A of the Finance Act 2005 (alternative finance investment bonds)” substitute “ to which section 564G of the Income Tax Act 2007 or section 151N of the Taxation of Chargeable Gains Act 1992 (investment bond arrangements) applies ”.

Income Tax (Trading and Other Income) Act 2005 (c. 5)

211

ITTOIA 2005 is amended as follows.

212

In Part 2 of Schedule 4 (index of defined expressions) insert at the appropriate place—

interest	section 564M of ITA 2007

Finance Act 2005 (c. 7)

213

FA 2005 is amended as follows.

214

Omit sections 46 to 47A, 48(1), 48A, 48B(1) to (5) and (9) and 49 to 57 (alternative finance arrangements).

215

In Schedule 2 (alternative finance arrangements: further provisions) omit paragraphs 1, 8 and 10 to 13.

Finance Act 2006 (c. 25)

216

FA 2006 is amended as follows.

217

Omit section 97 (beneficial loans to employees).

218

Omit section 98 (orders amending Chapter 5 of Part 2 of FA 2005).

Income Tax Act 2007 (c. 3)

219

ITA 2007 is amended as follows.

220

In section 2 (overview of Act) after subsection (10) insert—

(10A) Part 10A is about alternative finance arrangements.

221

In section 383(6) (relief for interest payments)—

(a) for “section 51(2) of FA 2005” substitute “ section 564O ”, and

(b) for “falling within section 47 of that Act” substitute “ to which section 564C applies ”.

222

In section 849(4) (interaction with other Income Tax Acts provisions) for the words from the beginning to “make” substitute “ Section 564Q (deduction of income tax at source under this Part) makes ”.

223

In Schedule 4 (index of expressions defined in that Act) insert at the appropriate place—

alternative finance arrangements (in Part 10A)	section 564A(2)”
“alternative finance return (in Part 10A)	sections 564I to 564L

Corporation Tax Act 2009 (c. 4)

224

CTA 2009 is amended as follows.

225

Omit section 521 (power to extend Chapter 6 of Part 6 of CTA 2009 etc to other arrangements).

226

Omit section 1310(5) (orders and regulations).

Finance Act 2009 (c. 10)

227

FA 2009 is amended as follows.

228

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