Finance Act 2014

(312A) (1) This section applies in relation to qualifying bonus payments made, in a tax year (“the tax year”), by an employer which is a company to an employee or former employee of the employer. (2) No liability to income tax arises in respect of the qualifying bonus payments if, or to the extent that, the total chargeable amount in respect of those payments does not exceed £3,600 (“the exempt amount”). (3) If qualifying bonus payments are made to the same person by two or more employers in the tax year, subsection (2) applies separately in relation to the total payments made by each employer, unless subsection (4) applies. (4) If two or more employers are members of the same group at the time each of them first makes a qualifying bonus payment to the employee or former employee in the tax year, subsection (2) applies as if the reference to the qualifying bonus payments were to all the qualifying bonus payments made by those employers to the employee or former employee in that tax year. (5) If, in a tax year— (a) an employer makes a payment when it is a member of a group, and (b) later in that tax year the employer ceases to be a member of that group, the employer is treated for the purposes of this section as remaining a member of that group for the remainder of the tax year (without prejudice to it also being a member of any other group). (6) In applying subsection (2)— (a) the exempt amount is set against payments in the order in which they are made, and (b) if two or more payments are made on the same day, which together take the total payments made in the tax year over the exempt amount, subsection (7) applies to determine the amount of each of those payments which is exempt. (7) In a case within subsection (6)(b), the amount of a payment which is exempt is given by the formula— $$P SP × REA$where—P is the amount of the payment,SP is the sum of that payment and the other payments made on the same day, andREA is so much of the exempt amount as remains after taking account of any qualifying bonus payments previously made in the tax year.$ (8) Where subsection (2) applies separately to different payments by virtue of subsection (3), subsections (6) and (7) also apply to those payments separately. (9) The Treasury may by order increase or reduce the sum of money specified in subsection (2). (10) A statutory instrument containing an order under this section which reduces the sum of money specified may not be made unless a draft of it has been laid before and approved by a resolution of the House of Commons. (11) In this section “chargeable amount”, in respect of a qualifying bonus payment, means the amount of employment income which would be charged to tax in respect of that qualifying bonus payment, apart from this section. (312B) (1) A payment made by an employer (“E”) to an employee or former employee is a qualifying bonus payment if— (a) it does not consist of regular salary or wages, (b) it is awarded under a scheme which meets the participation requirement and the equality requirement (see section 312C), (c) E meets the trading requirement (see section 312D) throughout the qualifying period, (d) E meets the indirect employee-ownership requirement (see section 312E) throughout the qualifying period, (e) E meets the office-holder requirement (see section 312F) at the time the payment is made and on at least the requisite number of days in the qualifying period (whether or not those days are consecutive), (f) E is not a service company (see section 312G), (g) the payment is not excluded (see section 312H), and (h) where it is a payment to a former employee, it is made in the period of 12 months beginning with the day the employment ceased. (2) In this section “the qualifying period”, in relation to a payment, means the period of 12 months ending with the day on which the payment is made. (3) But in a case where E meets the indirect employee-ownership requirement on the day on which the payment is made— (a) if the controlling interest requirement was first met during that 12 month period, the qualifying period does not include any time before it was met, and (b) if the all-employee benefit requirement was first met during that 12 month period, the qualifying period does not include any time before that requirement was met. (4) In this section “the requisite number of days” means— (a) if the qualifying period is 12 months, the number of days in that period reduced by 90, and (b) if the qualifying period is a shorter period by virtue of subsection (3), the number of days in that period reduced by the corresponding fraction of 90 days. (312C) (1) For the purposes of section 312B— (a) the participation requirement is that all persons in relevant employment when the award is determined must be eligible to participate in that and any other award under the scheme, and (b) the equality requirement is that every employee who participates in an award under the scheme must do so on the same terms. (2) A person is in “relevant employment” if— (a) where E is a member of a group, the person is employed by any company which is a member of the group, and (b) in any other case, the person is employed by E. (3) The participation requirement is not infringed by reason of a person in relevant employment being excluded from participating in an award because, at the time the award is determined, the person has less than the minimum period of continuous service in relevant employment required by E. But the minimum period required by E for this purpose must not exceed 12 months. (4) The participation requirement is not infringed— (a) by reason of a person being excluded from participating in an award where— (i) disciplinary proceedings have been taken against the person by E which have resulted in a finding of gross misconduct against the person, and (ii) that finding was made in the period of 12 months immediately before the time the award is determined, (b) by reason of a person's eligibility to participate in an award being conditional, in a case where the person is at the time of the award subject to disciplinary proceedings taken by E, upon those proceedings being concluded and no finding of gross misconduct being made against that person, or (c) by a person being treated as never having been eligible to participate in an award where, after the award was made but before the payment is made— (i) a finding of gross misconduct is made against that person in disciplinary proceedings taken by E after the award was made, or (ii) that person is summarily dismissed from the employment. (5) The equality requirement is infringed if the amount of an award to an employee under the scheme is determined by reference to factors other than those mentioned in subsection (6). (6) The equality requirement is not infringed by reason of the amount of an award under the scheme to employees participating in the award being determined by reference to— (a) an employee's remuneration, (b) an employee's length of service, or (c) hours worked by an employee; but this is subject to subsections (7) and (8). (7) The equality requirement is infringed if an award is made on terms such that some (but not all) of the employees participating in the award receive nothing. (8) If the amount of an award is determined by reference to more than one of the factors mentioned in subsection (6), the equality requirement is infringed unless— (a) each factor gives rise to a separate entitlement related to the level of remuneration, length of service or (as the case may be) hours worked, and (b) the total entitlement is the sum of those separate entitlements. (9) Subject to subsection (6), the equality requirement is infringed if any feature of the scheme has, or is likely to have, the effect of conferring benefits wholly or mainly on those participating in the award who are— (a) directors or former directors, or (b) employees receiving the higher or highest levels of remuneration, or (c) employees who— (i) are employed in a particular part of the business carried on by E or, if E is a member of a group, the group, or (ii) carry on particular kinds of activities. (10) In subsections (1)(b), (5), (6), (7) and (9) references to an employee include a former employee, so, when applying those subsections in relation to a former employee, any reference to remuneration, length of service, hours worked, being employed in a particular part of a business or carrying on particular activities is to be read as relating to that former employment. (312D) (1) For the purposes of section 312B, a company meets the trading requirement if— (a) it is a trading company which is not a member of a group, or (b) it is a member of a trading group. (2) “Trading company” means a company carrying on trading activities whose activities do not include to a substantial extent activities other than trading activities. (3) “Trading group” means a group— (a) one or more of whose members carry on trading group activities, and (b) the activities of whose members, taken together, do not include to a substantial extent activities other than trading group activities. (4) In this section— - “trading activities” means activities carried on by the company in the course of, or for the purposes of, a trade being carried on by it; - “trading group activities” means activities carried on by a member of the group in the course of, or for the purposes of, a trade being carried on by any member of the group. (5) For the purposes of determining whether a company is a trading company or a member of a trading group— (a) the activities of the members of a group are to be treated as one business (with the result that activities are disregarded to the extent that they are intra-group activities), and (b) a business carried on by a company in partnership with one or more other persons is to be treated as not being a trading activity. (312E) (1) For the purposes of section 312B, a company meets the indirect employee-ownership requirement if— (a) a settlement meets the controlling interest requirement in respect of— (i) the company, or (ii) if the company is a member of a trading group, but not the principal company, that principal company, and (b) the settlement meets the all-employee benefit requirement. (2) For this purpose— (a) section 236M of TCGA 1992 applies to determine if a settlement meets the controlling interest requirement in respect of the company mentioned in subsection (1)(a)(i) or (ii) (as the case may be), and (b) sections 236J and 236K of that Act apply to determine if the settlement meets the all-employee benefit requirement (but see subsection (3)). (3) If a settlement would not otherwise meet the all-employee benefit requirement at any time during the qualifying period, section 236L of TCGA 1992 applies for the purposes of subsection (1)(b), unless the all-employee benefit requirement has (ignoring that section) previously been met at any time in the period— (a) beginning with 10 December 2013, and (b) ending immediately before that time. (4) For the purposes of subsections (2) and (3)— (a) in sections 236I to 236M of TCGA 1992 references to C are to be read as references to the company in respect of which the settlement is required to meet the controlling interest requirement (see subsection (1)(a)), and (b) section 236L of that Act applies as if the reference in subsection (1)(c) of that section to the period of 12 months ending with the time in question were a reference to the period of 12 months ending with the date the payment is made (even if the qualifying period is a period of less than 12 months by virtue of section 312B(3)). (312F) (1) For the purposes of section 312B, a company meets the officer-holder requirement if the appropriate fraction does not exceed 2/5. (2) “The appropriate fraction” means— $$ND NE$where—ND is the number of persons who are one or both of the following—a director or other office-holder of the company;an employee of the company connected with a person within paragraph (a);NE is the number of persons who are employees (or office-holders) of the company.$ (312G) (1) For the purposes of section 312B, “service company” means— (a) a managed service company within the meaning of section 61B, or (b) a company (“SC”) in respect of which Conditions A and B are met. (2) Condition A is that the business carried on by SC consists substantially of the provision of the services of persons employed by it. (3) Condition B is that the majority of those services are provided to persons— (a) to whom subsection (4) applies, but (b) who are not members of the same group as the company which makes the payment. (4) This subsection applies to— (a) a person who controls or has controlled, or two or more persons who together control or have controlled, SC or any company of which SC is a 51% subsidiary at the time the payment is made, (b) a person who, or two or more persons who together, at any time before the time the payment is made— (i) employed all or a majority of the employees of SC, or (ii) employed all or a majority of the employees of SC and other companies which are members of the same group as SC at the time the payment is made (taken together), and (c) any company which is a 51% subsidiary of, controlled by or connected or associated with, any person within paragraph (a) or (b). (5) For the purposes of subsection (4)— (a) a partnership is to be treated as a single person, and (b) where a partner (alone or together with others) has control of a company, the partnership is to be treated as having (in the same way) control of that company. (6) The following provisions apply for the purposes of this section— (a) section 449 of CTA 2010 (“associated company”); (b) section 995 of ITA 2007 (meaning of “control”); (c) section 286 of TCGA 1992 (connected persons: interpretation). (312H) (1) For the purposes of section 312B, a payment is “excluded” if the employee is a party to arrangements (whether made before or after the beginning of the employee's employment) under which— (a) the employee gives up the right to receive an amount of general earnings or specific employment income in return for the provision of the payment, or (b) the employee and employer agree that the employee is to receive the payment rather than receive some other description of employment income. (2) In this section references to an employee include a former employee. (312I) (1) In this Chapter— - “company” has the meaning given by section 170(9) of TCGA 1992; - “trade” means any trade which is conducted on a commercial basis and with a view to the realisation of profits. (2) In this Chapter— (a) references to a group, to membership of a group, to the principal company of a group or to being members of the same group, are to be construed in accordance with section 170 of TCGA 1992, and (b) references to a group are to be construed with any necessary modifications where applied to a company incorporated under the law of a country or territory outside the United Kingdom. (3) For the purposes of this Chapter, a payment is treated as made when it would be treated as received for the purposes of Chapter 4 of Part 2 if it were not a qualifying bonus payment (see section 18). (4) In this Chapter references to a payment to an employee or former employee include a payment to the personal representatives of an employee or former employee who has died if the payment is made within the period of 12 months beginning with the date of death.

6

In section 717 (orders and regulations made by Treasury etc), in subsection (4) (instruments not subject to negative resolution procedure), after “to which” insert “ section 312A(10) (reduction of tax-exempt amount in respect of certain bonus payments) or ”.

7

In Part 2 of Schedule 1 (index of defined expressions), at the appropriate places insert—

company (in Chapter 10A of Part 4)	section 312I

;

trade (in Chapter 10A of Part 4)	section 312I

.

8

The amendment made by paragraph 5 has effect in relation to payments received on or after 1 October 2014.

PART 3 — Inheritance tax relief

9

IHTA 1984 is amended as follows.

10

• (1) After section 13 insert—

(13A) (1) A disposition of property made to trustees by a close company (“C”) whereby the property is to be held on trusts of the description specified in section 86(1) is not a transfer of value if— (a) C meets the trading requirement, (b) the trusts are of a settlement which meets the all-employee benefit requirement, and (c) the settlement does not meet the controlling interest requirement immediately before the beginning of the tax year in which the disposition of property occurs but does meet it at the end of that year. (2) Sections 236I, 236J, 236K, 236M and 236T (but not 236L) of the 1992 Act apply to determine whether— (a) C meets the trading requirement; (b) the settlement meets the all-employee benefit requirement; (c) the settlement meets the controlling interest requirement; with references in those sections to “C” being read accordingly. (3) In this section— - “close company” has the same meaning as in Part 4 of this Act; - “tax year” means a year beginning on 6 April and ending on the following 5 April.

• (2) The amendment made by this paragraph has effect in relation to dispositions of property made on or after 6 April 2014.

11

• (1) After section 28 insert—

(28A) (1) A transfer of value made by an individual who is beneficially entitled to shares in a company (“C”) is an exempt transfer to the extent that the value transferred is attributable to shares in or securities of C which become comprised in a settlement if— (a) C meets the trading requirement, (b) the settlement meets the all-employee benefit requirement, and (c) the settlement does not meet the controlling interest requirement immediately before the beginning of the tax year in which the transfer of value is made but does meet it at the end of that year. (2) Sections 236I, 236J, 236K, 236M and 236T (but not 236L) of the 1992 Act apply to determine whether— (a) C meets the trading requirement; (b) the settlement meets the all-employee benefit requirement; (c) the settlement meets the controlling interest requirement; with references in those sections to “C” being read accordingly. (3) In this section “tax year” means a year beginning on 6 April and ending on the following 5 April.

• (2) The amendment made by this paragraph has effect in relation to transfers of value made on or after 6 April 2014.

12

• (1) In section 29A (abatement of exemption where claim settled out of beneficiary's own resources), in subsection (6)—

• (a) for “to 28” substitute “ to 28A ”, and

• (b) for “or 28” substitute “ , 28 or 28A ”.

• (2) The amendment made by this paragraph has effect in relation to transfers of value made on or after 6 April 2014.

13

• (1) Section 72 (property leaving employee trusts and newspaper trusts) is amended as follows.

• (2) In subsection (2), after “Subject to subsections” insert “ (3A), ”.

• (3) After subsection (3) insert—

(3A) Where settled property ceases to be property to which this section applies because paragraph (d) of section 86(3) no longer applies, tax is not chargeable under this section by virtue of subsection (2)(a) if the only reason that paragraph no longer applies is that one or both of the trading requirement and the controlling interest requirement mentioned in that paragraph are no longer met with respect to the company so mentioned.

• (4) The amendments made by this paragraph are treated as having come into force on 6 April 2014.

14

• (1) After section 75 insert—

(75A) (1) Tax is not charged under section 65 in respect of shares in or securities of a company (“C”) which cease to be relevant property on becoming held on trusts of the description specified in section 86(1) if the conditions in subsection (2) are satisfied. (2) The conditions referred to in subsection (1) are— (a) that C meets the trading requirement, (b) that the trusts are of a settlement which meets the all-employee benefit requirement, and (c) that the settlement does not meet the controlling interest requirement immediately before the beginning of the tax year in which the shares or securities cease to be relevant property but does meet it at the end of that year. (3) Sections 236I, 236J, 236K, 236M and 236T (but not 236L) of the 1992 Act apply to determine whether— (a) C meets the trading requirement; (b) the settlement meets the all-employee benefit requirement; (c) the settlement meets the controlling interest requirement; with references in those sections to “C” being read accordingly. (4) In this section “tax year” means a year beginning on 6 April and ending on the following 5 April.

• (2) The amendment made by this paragraph is treated as having come into force on 6 April 2014.

15

• (1) Section 86 (trusts for benefit of employees) is amended as follows.

• (2) In subsection (3), after paragraph (c) insert

, or (d) the settled property consists of or includes ordinary share capital of a company which meets the trading requirement and the trusts on which the settled property is held are those of a settlement which— (i) meets the controlling interest requirement with respect to the company, and (ii) meets the all-employee benefit requirement with respect to the company.

• (3) After that subsection insert—

(3A) For the purpose of determining whether subsection (3)(d) is satisfied in relation to settled property which consists of or includes ordinary share capital of a company— (a) section 236I of the 1992 Act applies to determine whether the company meets the trading requirement (with references to “C” being read as references to that company), (b) sections 236J, 236K, 236M and 236T (but not 236L) of the 1992 Act apply to determine whether the settlement meets the all-employee benefit requirement and the controlling interest requirement (with references in those sections to “C” being read as references to that company), and (c) “ordinary share capital” has the meaning given by section 1119 of the Corporation Tax Act 2010.

• (4) The amendments made by this paragraph are treated as having come into force on 6 April 2014.

16

• (1) In section 144 (distribution etc from property settled by will), in subsection (1)(b), after “section 75” insert “ , 75A ”.

• (2) The amendment made by this section is treated as having come into force on 6 April 2014.

PART 4 — Miscellaneous amendments

Finance Act 1986

17

• (1) In section 102 of FA 1986 (gifts with reservation), in subsection (5) omit the “and” after paragraph (h) and after paragraph (i) insert

; and (j) section 28A (employee-ownership trusts).

• (2) The amendment made by this paragraph has effect in relation to disposals made on or after 6 April 2014.

Taxation of Chargeable Gains Act 1992

18

• (1) In section 104 of TCGA 1992 (share pooling: general interpretative provisions), after subsection (4) insert—

(4A) For the purposes of this Chapter, securities of a company which are held by the trustees of a settlement, having been last acquired or deemed to be acquired by them in circumstances where section 236H or 236Q applied, shall (notwithstanding that they would otherwise fall to be treated as of the same class) be treated as of a different class from any other securities of the company acquired by those trustees.

• (2) The amendment made by this paragraph has effect in relation to any disposal on or after 6 April 2014 of any securities (whenever acquired).

Income Tax (Earnings and Pensions) Act 2003

19

• (1) Paragraph 27 of Schedule 2 to ITEPA 2003 (share incentive plans: requirement as to listing etc) is amended as follows.

• (2) In sub-paragraph (1), omit the “or” at the end of paragraph (b) and after that paragraph insert—

(ba) shares in a company which is subject to an employee-ownership trust, or

.

• (3) After sub-paragraph (2) insert—

(3) But a company is not a close company for the purposes of sub-paragraph (2) if it is subject to an employee-ownership trust. (4) A company (“C”) is “subject to an employee-ownership trust” if— (a) C meets the trading requirement set out in section 312D, (b) C meets the indirect employee-ownership requirement, (c) neither C, nor any other company which is a member of the same group of companies as C, is a service company, and (d) C is not under the control of another company (ignoring for this purpose another company acting in its capacity as the trustee of the settlement by virtue of which C meets the indirect employee-ownership requirement). (5) Section 312E (the indirect employee-ownership requirement) applies for the purposes of sub-paragraph (4), subject to the following modifications— (a) subsection (3) of that section has effect as if— (i) the words “during the qualifying period” were omitted, and (ii) in paragraph (a) for “10 December 2013” there were substituted “ 1 October 2014 ”, and (b) subsection (4) has effect as if for paragraph (b) there were substituted— (b) section 236L of that Act applies as if the reference in subsection (1)(c) of that section to the period of 12 months ending with the time in question were a reference to any time on or after 1 October 2014. (6) Section 312G (meaning of “service company”) applies for the purposes of sub-paragraph (4)(c), subject to the following modifications— (a) in subsection (3)(b), the reference to the company which makes the payment is to be read as a reference to C, (b) in subsection (4)(a), the reference to the time the payment is made is to be read as a reference to any time, and (c) in subsection (4)(b), the reference to any time before the time the payment is made is to be read as a reference to any time.

• (4) The amendments made by this paragraph come into force on 1 October 2014.

20

• (1) Paragraph 19 of Schedule 3 to ITEPA 2003 (SAYE option schemes: requirements as to listing) is amended as follows.

• (2) In sub-paragraph (1), omit the “or” at the end of paragraph (b) and after that paragraph insert—

(ba) shares in a company which is subject to an employee-ownership trust (within the meaning of paragraph 27(4) to (6) of Schedule 2), or

.

• (3) After sub-paragraph (2) insert—

(3) But a company is not a close company for the purposes of sub-paragraph (2) if it is subject to an employee-ownership trust (within the meaning of paragraph 27(4) to (6) of Schedule 2).

• (4) The amendments made by this paragraph come into force on 1 October 2014.

21

• (1) In paragraph 17 of Schedule 4 to ITEPA 2003 (CSOP schemes: requirements as to eligible shares), in sub-paragraph (1), omit the “or” after paragraph (a) and after paragraph (b) insert

, or (ba) shares in a company which is subject to an employee-ownership trust (within the meaning of paragraph 27(4) to (6) of Schedule 2).

• (2) The amendment made by this paragraph come into force on 1 October 2014.

22

• (1) In paragraph 9 of Schedule 5 to ITEPA 2003 (enterprise management incentives: the independence requirement), after sub-paragraph (4) insert—

(5) But the independence requirement is treated as met if the company is subject to an employee-ownership trust (within the meaning of paragraph 27(4) to (6) of Schedule 2).

• (2) The amendment made by this paragraph comes into force in accordance with provision contained in an order made by the Treasury.

• (3) Section 1014(4) of ITA 2007 (orders etc subject to annulment) does not apply in relation to an order under sub-paragraph (2).

Corporation Tax Act 2009

23

• (1) In section 1292 of CTA 2009 (employee benefit contributions: provision of qualifying benefits), after subsection (6A) insert—

(6B) For those purposes qualifying benefits are also provided, where a payment of money is made to a person, if and to the extent that the payment is exempt from income tax by virtue of section 312A of ITEPA 2003.

• (2) The amendment made by this paragraph has effect in relation to payments made on or after 1 October 2014.

SCHEDULE 38

PART 1 — Amendments of ITA 2007

1

ITA 2007 is amended as follows.

2

In section 6 (the basic rate, higher rate and additional rate)—

• (a) omit subsections (2A) to (2C), and

• (b) in subsection (3), after “see—” insert—

(za) section 6A (Scottish basic, higher and additional rates),

.

3

After section 6 insert—

(6A) (1) The Scottish basic rate, the Scottish higher rate and the Scottish additional rate for a tax year are calculated as follows. - Step 1 Take the basic rate, higher rate or additional rate. - Step 2 Deduct 10 percentage points. - Step 3 Add the Scottish rate (if any) set by the Scottish Parliament for that year. (2) For provision about the setting of the Scottish rate, see Chapter 2 of Part 4A of the Scotland Act 1998.

4

In section 10 (income charged at the basic, higher and additional rates: individuals)—

• (a) omit subsections (3B) and (3C), and

• (b) in subsection (4), at the appropriate place, insert—

section 11A (income charged at the Scottish basic, higher and additional rates),

.

5

After section 11 insert—

(11A) (1) Income tax is charged at the Scottish basic rate on the income of a Scottish taxpayer which— (a) is non-savings income, and (b) would otherwise be charged at the basic rate. (2) Income tax is charged at the Scottish higher rate on the income of a Scottish taxpayer which— (a) is non-savings income, and (b) would otherwise be charged at the higher rate. (3) Income tax is charged at the Scottish additional rate on the income of a Scottish taxpayer which— (a) is non-savings income, and (b) would otherwise be charged at the additional rate. (4) For the purposes of this section, “non-savings income” means income which is not savings income. (5) This section is subject to— - section 13 (income charged at the dividend ordinary, upper and additional rates: individuals), and - any provisions of the Income Tax Acts (apart from section 10) which provide for income of an individual to be charged at different rates of income tax in some circumstances. (6) Section 16 has effect for determining the extent to which the non-savings income of a Scottish taxpayer would otherwise be charged at the basic, higher or additional rate.

6

In section 13 (income charged at the dividend ordinary, upper and additional rates)—

• (a) in subsection (1)(b), after “the basic rate,” insert “ or the Scottish basic rate, ”,

• (b) in subsection (2)(b), after “the higher rate,” insert “ or the Scottish higher rate, ”,

• (c) in subsection (2A)(b), after “the additional rate,” insert “ or the Scottish additional rate, ”,

• (d) in subsection (3), after “section 10” insert “ or 11A ”, and

• (e) in subsection (4), after “the basic, higher or additional rate” insert “ or the Scottish basic, higher or additional rate ”.

7

In section 16 (savings and dividend income to be treated as highest part of total income), in subsection (1), for paragraph (za) substitute—

(za) the rate at which income tax would be charged on the non-savings income of a Scottish taxpayer apart from section 11A,

.

8

In section 809H (charge on nominated income of long-term UK resident), for subsection (3A) substitute—

(3A) If the individual is a Scottish taxpayer for the relevant tax year, the individual is to be treated for the purpose of calculating income tax charged by virtue of subsection (2) as if the individual were not a Scottish taxpayer for that year.

9

In section 828B (conditions to be met for exemption where individual resident but not domiciled in the UK), in subsection (5), after “the basic rate” insert “ , the Scottish basic rate ”.

10

In section 989 (definitions for the purposes of the Income Tax Acts)—

• (a) in the definitions of “additional rate”, “basic rate” and “higher rate”, omit “or (2B)”, and

• (b) at the appropriate place, insert—

“Scottish additional rate” means the rate of income tax of that name calculated in accordance with section 6A,

,

“Scottish basic rate” means the rate of income tax of that name calculated in accordance with section 6A,

,

“Scottish higher rate” means the rate of income tax of that name calculated in accordance with section 6A,

,

“Scottish taxpayer” has the same meaning as in Chapter 2 of Part 4A of the Scotland Act 1998

.

11

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

Scottish additional rate	section 6A (as applied by section 989)”
Scottish basic rate	section 6A (as applied by section 989)
---	---
Scottish higher rate	section 6A (as applied by section 989)
---	---
Scottish taxpayer	section 989
---	---

12

The amendments made by this Part have effect in relation to the tax year appointed by the Treasury under section 25(5) of the Scotland Act 2012 and subsequent tax years.

PART 2 — Consequential amendments

13

In section 1 of the Provisional Collection of Taxes Act 1968 (temporary statutory effect of resolutions of House of Commons), omit subsection (3A).

14

• (1) In section 7 of TMA 1970 (notice of liability to income tax and capital gains tax), in subsection (6), after “the basic rate,” insert “ the Scottish basic rate, ”.

• (2) The amendment made by sub-paragraph (1) has effect in relation to the tax year appointed by the Treasury under section 25(5) of the Scotland Act 2012 and subsequent tax years.

15

• (1) TCGA 1992 is amended as follows.

• (2) In section 4 (rates of capital gains tax), in subsections (4) and (5), after “the higher rate” insert “ , the Scottish higher rate ”.

• (3) In section 4A (section 4: special cases), in subsection (5), after “at the higher rate” insert “ , the Scottish higher rate ”.

• (4) The amendments made by this paragraph have effect in relation to the tax year appointed by the Treasury under section 25(5) of the Scotland Act 2012 and subsequent tax years.

16

• (1) The Scotland Act 1998 is amended as follows.

• (2) In section 80C (power to set Scottish rate for Scottish taxpayers), for subsection (2) substitute—

(2) See section 6A of the Income Tax Act 2007 for provision about the calculation of those rates and section 11A of that Act for provision about the income charged at those rates.

• (3) Section 80G (supplemental powers to modify enactments) is amended in accordance with sub-paragraphs (4) to (8).

• (4) For subsection (1) substitute—

(1) The Treasury may by order modify section 11A of the Income Tax Act 2007 (income charged at the Scottish basic, higher and additional rates) for the purpose of altering— (a) the definition of the income which is charged to income tax at the rates provided for under the section, or (b) the application of the section in relation to a particular class of income which is so charged. (1A) The Treasury may by order modify any enactment not contained in Chapter 2 of Part 2 of the Income Tax Act 2007 (rates at which income tax is charged) so that it makes provision, in relation to a Scottish taxpayer, by reference to the Scottish basic rate, the Scottish higher rate or the Scottish additional rate, instead of the basic rate, the higher rate or the additional rate. (1B) If the Treasury consider it necessary or expedient to do so, they may by order provide that— (a) the Scottish rate set by the Parliament for a tax year, or (b) the fact that the Scottish rate has not been so set for a tax year, does not require any change in the amounts repayable or deductible under PAYE regulations between the beginning of that year and such later date as may be specified in the order.

• (5) In subsection (2), for the words from “with—” to the end substitute “ with an order under subsection (1), (1A) or (1B) ”.

• (6) Omit subsection (3).

• (7) After subsection (4) insert—

(5) The power under subsection (1) does not include power to provide that any income which is— (a) savings income, or (b) dividend income which would otherwise be charged to income tax at a rate provided for under section 13 of the Income Tax Act 2007, is income which is charged to income tax at a rate provided for under section 11A of that Act.

• (8) In section 110 (Scottish taxpayers for social security purposes), in subsection (2)—

• (a) for “basic rate” substitute “ Scottish basic rate, Scottish higher rate or Scottish additional rate (within the meaning of the Income Tax Acts) ”, and

• (b) omit the words from “(instead of” to the end.

• (9) Schedule 7 (procedure for subordinate legislation) is amended in accordance with sub-paragraphs (10) and (11).

• (10) In paragraph 1(2)—

• (a) omit the entry for section 79, and

• (b) at the appropriate place insert—

Section 80G(1), (1A) or (2)	Type E
Section 80G(1B)	Type K

.

• (11) At the end of paragraph 1, omit the Note relating to the entry for section 79.

• (12) Sub-paragraph (8) comes into force on such day as the Secretary of State may by order made by statutory instrument appoint.

• (13) Sub-paragraphs (10)(a) and (11) come into force on such day as the Treasury may by order appoint.

17

In consequence of the amendments made by this Schedule, in the Scotland Act 2012 omit—

• (a) section 26 (income tax for Scottish taxpayers),

• (b) paragraph 1(2)(a) and (b) of Schedule 2 (amendments to section 110(2) of the Scotland Act 1998), and

• (c) paragraph 1(4) of that Schedule (amendments to Schedule 7 to the Scotland Act 1998 relating to section 80G of that Act).

SCHEDULE 39

Taxation of Chargeable Gains Act 1992 (c. 12)

1

In section 217D of TCGA 1992 (disposal of assets on union, amalgamation or transfer of engagements), in subsection (3), after paragraph (a) insert—

(aa) a society registered as a credit union under the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)),

.

Co-operative and Community Benefit Societies Act 2014 (c. 14)

2

Schedule 4 to the Co-operative and Community Benefit Societies Act 2014 (consequential amendments) is amended as follows.

3

In paragraph 47 (which amends section 140E of TCGA 1992)—

• (a) in sub-paragraph (2), after “Co-operative and Community Benefit Societies Act 2014” insert “ or a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 ”, and

• (b) in sub-paragraph (3), after “Co-operative and Community Benefit Societies Act 2014” insert “ , a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 ”.

4

In paragraph 48 (which amends section 140F of TCGA 1992) after “Co-operative and Community Benefit Societies Act 2014” insert “ or a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 ”.

5

In paragraph 49 (which amends section 140G of TCGA 1992) after “Co-operative and Community Benefit Societies Act 2014” insert “ or a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 ”.

6

In paragraph 50 (which amends section 170 of TCGA 1992)—

• (a) in sub-paragraph (2), for “within the meaning of the Co-operative and Community Benefits Societies Act 2014” substitute “ (see section 1119 of that Act) ”, and

• (b) in sub-paragraph (3), for “within the meaning of the Co-operative and Community Benefits Societies Act 2014” substitute “ (see section 1119 of CTA 2010) ”.

7

In paragraph 53 (which amends Schedule 7AC of TCGA 1992) for “within the meaning of the Co-operative and Community Benefits Societies Act 2014” substitute “ (see section 1119 of that Act) ”.

8

In paragraph 82 (which amends paragraph 28 of Schedule 2 to ITEPA 2003), in the sub-paragraph (5) substituted by sub-paragraph (3)—

• (a) omit the “or” following paragraph (b), and

• (b) at the end of paragraph (c) insert

, or (d) an SCE formed in accordance with Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society.

9

In paragraph 94 (which amends section 379 of ITTOIA 2005), in the definition of “registered society” inserted by sub-paragraph (4)—

• (a) omit the “or” following paragraph (a), and

• (b) after paragraph (b) insert—

(c) a society registered as a credit union under the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), or (d) an SCE formed in accordance with Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society,

.

10

In paragraph 105 (which amends section 151 of ITA 2007), in the definition of “registered society” inserted by sub-paragraph (3)—

• (a) omit the “or” following paragraph (a), and

• (b) at the end of paragraph (b) insert

or (c) an SCE formed in accordance with Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society,

.

11

In paragraph 110 (which amends section 887 of ITA 2007), in the subsection (5) substituted by sub-paragraph (5)—

• (a) omit the “or” following paragraph (a), and

• (b) after paragraph (b) insert—

(c) a society registered as a credit union under the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), or (d) an SCE formed in accordance with Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society.

12

In paragraph 158 (which amends section 90 of CTA 2010), in the definition of “registered society” inserted by sub-paragraph (3)—

• (a) omit the “or” following paragraph (a), and

• (b) at the end of paragraph (b) insert

or (c) an SCE formed in accordance with Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society,

.

13

In paragraph 168 (which amends section 1119 of CTA 2010), in the definition of “registered society” inserted by sub-paragraph (3), for paragraph (c) and the “or” before it substitute—

(c) a society registered as a credit union under the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), or (d) an SCE formed in accordance with Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society,

.

14

In paragraph 171 (which amends section 118 of TIOPA 2010)—

• (a) in sub-paragraph (2), after “Co-operative and Community Benefit Societies Act 2014” insert “ or a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 ”, and

• (b) in sub-paragraph (3), after “Co-operative and Community Benefit Societies Act 2014” insert “ , a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 ”.

Commencement

15

The amendments made by this Schedule come into force on 1 August 2014.

Charge, rates, basic rate limit and personal allowance for 2014-15

Basic rate limit for 2015-16 and personal allowances from 2015

The starting rate for savings and the savings rate limit

Charge for financial year 2015

Temporary increase in annual investment allowance

Tax relief for married couples and civil partners

Tax relief for married couples and civil partners

Recommended medical treatment

Relief for loan interest: loan to buy interest in close company

Restrictions on remittance basis

Employment intermediaries: information powers and related penalties

Oil and gas workers on the continental shelf: operation of PAYE

Oil and gas workers on the continental shelf: operation of PAYE

Oil and gas workers on the continental shelf: operation of PAYE

Cars: the appropriate percentage

Cars: the appropriate percentage

Holdings treated as rights under loan relationships

Disguised distribution arrangements involving derivative contracts

Video games development

Television tax relief: activities to be treated as separate trade

Television tax relief: activities to be treated as separate trade

Video games development

Community amateur sports clubs

Changes in company ownership

Determination of beneficial entitlement for purposes of group relief

Pension flexibility: taking low-value pension rights as lump sum

Pension flexibility: drawdown

Pension flexibility: taking low-value pension rights as lump sum

Transitional provision for new standard lifetime allowance for 2014-15 etc

Relief for investments in social enterprises

Employee share schemes

Avoidance involving losses

General Block Exemption Regulation

Capital gains roll-over relief: intangible fixed assets

Extension of capital allowances

Business premises renovation allowances

Extension of capital allowances

Business premises renovation allowances

Mineral extraction allowances: activities not within charge to tax

Supplementary charge: onshore allowance

Rates of alcoholic liquor duties

Rates of alcoholic liquor duties

Air passenger duty: rates of duty from 1 April 2015

Air passenger duty: rates of duty from 1 April 2015

VED rates for light passenger vehicles, light goods vehicles, motorcycles etc

VED rates for light passenger vehicles, light goods vehicles, motorcycles etc

VED rates: rigid goods vehicle with trailers

VED rates: use for exceptional loads, rigid goods vehicles and tractive units

Payment of vehicle excise duty by direct debit

Six month licence: tractive units

Payment of vehicle excise duty by direct debit

Definition of “revenue weight”

HGV road user levy: rates tables

Climate change levy: exemptions: mineralogical & metallurgical processes etc

Climate change levy: exemptions: mineralogical & metallurgical processes etc

Climate change levy: exemptions: mineralogical & metallurgical processes etc

VAT: prompt payment discounts

VAT: supply of services through agents

SDLT: exercise of collective rights by tenants of flats

Abolition of SDRT on certain dealings in collective investment schemes

SDLT: exercise of collective rights by tenants of flats

SDLT: exercise of collective rights by tenants of flats

Abolition of SDRT on certain dealings in collective investment schemes

General betting duty

Liability to pay

Duty to give conduct notice: defeat of promoted arrangements

Duty to give further conduct notice where provisional notice not complied with

Duty to give further conduct notice where provisional notice not complied with

Judicial ruling upholding asserted tax advantage: effect on conduct notice which is provisional

Penalties

Offence of concealing etc documents following informal notification

Liability for offences under section 277A committed by a body

The Code of Practice on Taxation for Banks: operation & breaches of the Code

Amounts allowed by way of double taxation relief

Trusts with vulnerable beneficiary: meaning of “disabled person”

Trusts with vulnerable beneficiary: meaning of “disabled person”

Trusts with vulnerable beneficiary: meaning of “disabled person”

Amounts allowed by way of double taxation relief

Scottish basic, higher and additional rates of income tax

Finance Act 1998

Finance Act 2000

Capital Allowances Act 2001

Corporation Tax Act 2009

Corporation Tax Act 2010

Finance Act 2012

Finance Act 2013

Chargeable periods which straddle start date

First straddling period beginning before 1 January 2013

First straddling period beginning on or after 1 January 2013

Chargeable periods which straddle 1 January 2016

Operation of annual investment allowance where restrictions apply

ICTA

FA 1998

CAA 2001

FA 2007

CTA 2009

FA 2009

CTA 2010

Temporary extension of period by which commencement lump sum may precede pension

Temporary relaxation to allow transfer of pension rights after lump sum paid

Temporary relaxation to allow lump sum to be repaid to pension scheme that paid it

Calculation of “applicable amount” in certain cases

Expected pension commencement lump sums treated as trivial commutation lump sums

Small pot lump sums

Preservation of protected pension age following certain transfers of pension rights

Operation of enhanced protection of pre-6 April 2006 rights to take lump sums

Protected lump sum entitlement following certain transfers of pension rights

Reporting obligations

Scheme sanction charges

Power to make further adjustments

Commencement

The protection

Amount A (pre-6 April 2006 pensions in payment)

Amount B (pre-6 April 2014 benefit crystallisation events)

Amount C (uncrystallised rights at end of 5 April 2014 under registered pension schemes)

Amount D (uncrystallised rights at end of 5 April 2014 under relieved non-UK pension schemes)

Interpretation

Amendment of section 219(5A) of FA 2004

Amendment of section 98 of TMA 1970

Introduction

Registration of pension schemes

De-registration of pension schemes

Declarations required from person who is to be a scheme administrator

Payments by registered pension schemes: surrender

Orders for money etc to be restored to pension schemes

Liabilities of trustees appointed by Pensions Regulator etc

Other provision

Amendments to Chapter 6 of Part 7 of ITEPA 2003

Other amendments: TCGA 1992

Other amendments: ITEPA 2003 and Part 4 of FA 2004

Other amendments: ITTOIA 2005

Other amendments: Part 9 of ITA 2007

Other amendments: Chapter 1 of Part 11 of CTA 2009

Other amendments: Individual Savings Account Regulations 1998 (S.I. 1998/1870)

Revocation of Employee Share Schemes (Electronic Communication of Returns and Information) Regulations 2007 (S.I. 2007/792)

Commencement and transitional provision

Amendments to Chapter 7 of Part 7 of ITEPA 2003

Other amendments: TCGA 1992

Other amendments: ITEPA 2003, Part 4 of FA 2004, ITTOIA 2005 and CTA 2009

Other amendments: Individual Savings Account Regulations 1998 (S.I. 1998/1870)

Commencement and transitional provision

Amendments to Chapter 8 of Part 7 of ITEPA 2003

Other amendments: TCGA 1992

Other amendments: ITEPA 2003

Commencement and transitional provision

Amendments to Schedule 5 to ITEPA 2003

Other amendment: section 98 of TMA 1970

Commencement and transitional provision

Amendments to Chapter 1 of Part 7 of ITEPA 2003

Other amendment: section 98 of TMA 1970

Commencement and transitional provision

ITEPA 2003

Consequential amendments to other Acts

Time limits for making assessments

Linked sales

Approval of VCT: return of capital

Nominees

Onshore allowance

Restriction of field allowance to offshore fields

Commencement of onshore allowance

Option to defer commencement

Straddling accounting periods

CTA 2010

Commencement etc

Main provision

Supplementary provision: deductions

Supplementary provision: arrangements made by intermediaries

Commencement

Main provision

Commencement

Main provision

Supplementary provision

Power to apply amendments to other types of firms carrying on regulated activities

Commencement

Income tax

Corporation tax

Introduction

Licences taken out on or after 1 April 2014

Licences taken out on or after 1 April 2016

Licences taken out on or after 1 January 2017

I January 2017

Interpretation

Meaning of “stores”

Surplus stores

Power to make regulations about stores

Penalties and enforcement

Review and appeal

Commencement

New Union scheme for accounting for VAT on certain supplies

Power to amend provisions about the Union scheme

Introduction

Extension of non-Union scheme to broadcasting and telecommunication services

Consequential and other amendments

“Chargeable securities”

Commencement of Part 1 and transitional provision

Main charge

Charge in relation to the purchase by a company of its own shares

Charge in relation to property vested by Act or purchased under statutory power

Interpretation of paragraphs 5 to 7

Depositary receipts: charge

Clearance services: charge

Charge on transfers of partnership interests

Commencement of Part 2

Introductory

Rate bands for tax years 2015-16, 2016-17 and 2017-18

Treatment of certain liabilities

Ten-year anniversary charge

Delivery of account and payment of tax

Introduction

High quality liquid assets etc

Protected deposits

Tier one capital equity and liabilities

Liabilities representing QCP margin in relation to trades executed under clearing agreements

Certain liabilities deemed short term liabilities

Amendments consequential on regulatory changes

Transitional provision

Breach notice

Final notice

Direction to suspend remote operating licence

Reinstatement of remote operating licence

Revocation of remote operating licence

Consent requirement for grant of new remote operating licence

Supplementary

Customs and Excise Management Act 1979

Finance Act 1994

Value Added Tax Act 1994

Finance Act 1997

Criminal Justice and Police Act 2001

Gambling Act 2005

Finance Act 2008

Finance Act 2009

Finance Act 2012

Final accounting periods under BGDA 1981

Withdrawal of double taxation relief

Post-commencement receipts etc from pre-commencement general or pool betting

Post-commencement winnings paid on pre-commencement general or pool betting

Post-commencement receipts & winnings etc in the case of pre-commencement remote gaming

Post-commencement relief for unrelieved pre-commencement losses

Post-commencement winnings on non-dutiable pre-commencement general or pool betting

Post-commencement winnings on non-dutiable pre-commencement remote gaming

Saving for amendments and repeals made by Schedule 28

Introduction

Value of denied advantage: normal rule

Value of denied advantage: losses

Value of denied advantage: deferred tax

Introduction

Interpretation

Giving of follower notices in relation to partnership returns

Penalty if corrective action not taken in response to partnership follower notice

Calculation of penalty etc

Interpretation

Restriction on circumstances when accelerated payment notices can be given

Circumstances in which partner payment notices may be given

Content of partner payment notices

Representations about a partner payment notice

Effect of partner payment notice

Penalty for failure to comply with partner payment notice

Withdrawal, suspension or modification of partner payment notices

Taxes Management Act 1970

Finance Act 2007

Finance Act 2008

Finance Act 2009

Meaning of “threshold condition”

Deliberate tax defaulters

Breach of the Banking Code of Practice

Dishonest tax agents

Non-compliance with avoidance disclosure requirements

Criminal offences

Opinion notice of GAAR Advisory Panel

Disciplinary action against a member of a trade or profession

Disciplinary action by a regulatory authority

Exercise of information powers

Restrictive contractual terms

Stop notices

Introduction

Penalties for failure to comply

Daily default penalties for failure to comply

Penalties for inaccurate information and documents

Power to change amount of penalties

Concealing, destroying etc documents following imposition of a duty to provide information

Concealing, destroying etc documents following informal notification

Failure to comply with time limit

Reasonable excuse

Assessment of penalty and appeals

Interest on penalties

Double jeopardy

Overlapping penalties

“Person” includes a partnership

Continuity of partnerships

Meeting of conditions

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

Defeat notices

Monitoring notices

Person continuing to carry on partnership business as a sole trader

Persons leaving a partnership: conduct notices

Persons leaving a partnership: monitoring notices

Division of partnership business

Notices under paragraphs 8 to 10: general

Publication under section 248

Responsibility of partners

Joint and several liability of responsible partners

Service of notices

Nominated partners

Meaning of “controlling member”

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

Power to amend definitions

Relief on disposals to employee-ownership trusts

Commencement and transitional provision

Finance Act 1986

Taxation of Chargeable Gains Act 1992

Income Tax (Earnings and Pensions) Act 2003

Corporation Tax Act 2009

Taxation of Chargeable Gains Act 1992 (c. 12)

Co-operative and Community Benefit Societies Act 2014 (c. 14)

Commencement

Editorial notes

[^c22231551]: S. 164 partly in force; s. 164(1)(3)-(7) in force at Royal Assent; s. 164(2) in force at 1.12.2014, see s. 198(1)(2)

[^c22231561]: Sch. 4 para. 1 partly in force at Royal Assent; sch. 4 para. 1 in force at Royal Assent for specified purposes, see Sch. 4 para. 16

[^c22231581]: Sch. 21 para. 3 partly in force; Sch. 21 para. 3 in force for specified purposes at Royal Assent, see Sch. 21 para. 10

[^c22231571]: Sch. 38 para. 16 partly in force; sch. 38 para. 16(1)-(7)(9)(10)(b)(12)(13) in force at Royal Assent, see sch. 38 para. 16(12)(13)

[^key-f6c297ccc80be3c61c616121dbfc29c4]: S. 32(2)(3) in force at 1.4.2014 for the purposes of the amendments made by those sub-sections by S.I. 2014/2880, art. 2

[^key-1bde505c275586b931a0be2317507b11]: Sch. 4 para. 1 in force at 22.8.2014 for the purposes of the amendments made by that paragraph in so far as not already in force by S.I. 2014/2228, art. 2

[^key-6e544e749c562a06cefd77701cdc0fef]: Sch. 4 para. 2 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-d8299413cdd27b2204007bfbd8cd1d05]: Sch. 4 para. 4 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-1f55bf30117ad2cd9d090358093355fe]: Sch. 4 para. 5 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-4e94d944bc65d10ed093f7caec2cd3a3]: Sch. 4 para. 6 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-c477272b228ab31f3323eaf9f53288b7]: Sch. 4 para. 8 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-0f5fcbcdfc4b32dead715603cc91bffe]: Sch. 4 para. 9 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-748c9edc80d2a3b4812cdda6eea836a0]: Sch. 4 para. 10 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-21093df8d23c29ce82efb36cd2be482a]: Sch. 4 para. 11 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-26f66d6055c6146134ab6ce8e4884be1]: Sch. 4 para. 12 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-e8ba9a01dc462805f6432cc540ab0842]: Sch. 4 para. 13 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-5820f3883a0ef2e8e86781d1e51973d2]: Sch. 4 para. 14 in force at 22.8.2014 for the purposes of the amendments made by that paragraph by S.I. 2014/2228, art. 2

[^key-f5f7494d66e97d565f575cde08ce2ea4]: Sch. 37 para. 22(1) in force at 1.10.2014 for the purposes of the amendment made by that sub-paragraph by S.I. 2014/2461, art. 2

[^key-a9484d8e7ec814f85317c9f0afaeb576]: S. 12 has effect as specified (1.1.2015) by The Finance Act 2014, Section 12 (Appointed Day) Order 2014 (S.I. 2014/3226), art. 2

[^key-18876ad4214a0ed17641853090c4ab66]: Pt. 4 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)

[^key-d4e1fad30be2539ae2b1a7ba1d91fbd2]: Pt. 5 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)

[^key-6d98ae786b91c0dfa6abd8ad56434b8d]: Pt. 4 applied (with modifications) by 1992 c. 7 (N.I.), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)

[^key-cdfe0089c7ef649c3d525213d772dcb5]: Pt. 5 applied (with modifications) by 1992 c. 7 (N.I.), s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)

[^key-53e7dbb8b39919ce331d41da83451280]: Sum in s. 2(1)(b) substituted (26.3.2015) by Finance Act 2015 (c. 11), s. 3(2)

[^key-00be584c1424e1391e414b218c7ac6c0]: Word in s. 2(8)(a) omitted (with effect in accordance with s. 3(5) of the amending Act) by virtue of Finance Act 2015 (c. 11), s. 3(3)

[^key-4351b78467f5b18c3ca5fa79b6b5caee]: S. 2(8)(aa) inserted (with effect in accordance with s. 3(5) of the amending Act) by Finance Act 2015 (c. 11), s. 3(3)

[^key-154fbcc704660377053a19e8c76aa1a7]: S. 56(3)(b) omitted (with application in accordance with Sch. 6 para. 14 of the amending Act) by virtue of Finance Act 2015 (c. 11), Sch. 6 para. 12(a)

[^key-a48553df3fafd6b335fa118d72f7b34e]: S. 56(6)(b) omitted (with application in accordance with Sch. 6 para. 14 of the amending Act) by virtue of Finance Act 2015 (c. 11), Sch. 6 para. 12(a)

[^key-769d172346a1d5261583a856886e8688]: S. 69 repealed (with effect in accordance with Sch. 11 para. 14 of the amending Act) by Finance Act 2015 (c. 11), Sch. 11 para. 13(2)

[^key-9ce5f896c808e1358af0a6840cf0f42e]: S. 199(c)(iv) and preceding word inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 2

[^key-015a05077a729f7e9fb1799778f4858a]: Word in s. 199(c)(ii) omitted (26.3.2015) by virtue of Finance Act 2015 (c. 11), Sch. 18 para. 2

[^key-986f71c0e353e4d99cc32f08baa1ef41]: S. 220(4A)(4B) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 3(3)

[^key-57a4c629ed0e2a13212ef152f19cdff3]: Words in s. 220(2)(b) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 3(2)(a)

[^key-48b3e0f1030d4f85e04f85d3790f581f]: Word in s. 220(2)(b) omitted (26.3.2015) by virtue of Finance Act 2015 (c. 11), Sch. 18 para. 3(2)(b)

[^key-038cfd577cd8cad7b1ca866de6622a9b]: S. 220(2)(d) and preceding word inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 3(2)(b)

[^key-fbbcde41fe5ec9f040b33a2edc5c5180]: Words in s. 220(6) substituted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 3(4)

[^key-3419b6c8a8763854869bd01ba4f9d018]: Words in s. 221(2)(b) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 4(2)(a)

[^key-2022468b13fa0e129e1c002fa46dea84]: Word in s. 221(2)(b) omitted (26.3.2015) by virtue of Finance Act 2015 (c. 11), Sch. 18 para. 4(2)(b)

[^key-74a36932bab417bf4e078c1770101355]: S. 221(2)(d) and preceding word inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 4(2)(b)

[^key-ad2375ed460ad0ac2948daee9c3c4fe2]: Word in s. 222(2)(a) omitted (26.3.2015) by virtue of Finance Act 2015 (c. 11), Sch. 18 para. 5(2)

[^key-9196706055ea493f9c6a62423e3606ba]: S. 222(2)(c) and preceding word inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 5(2)

[^key-2de8c2a2796da7aa87245a4ef3bcb6dc]: Word in s. 222(4)(a) omitted (26.3.2015) by virtue of Finance Act 2015 (c. 11), Sch. 18 para. 5(3)(a)

[^key-3e89097ed88fde73696d3dcff4a9693b]: Words in s. 222(4)(b) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 5(3)(b)

[^key-9b7d7448cf5cf6a70c84301ed07f1d92]: Word in s. 222(4)(b) omitted (26.3.2015) by virtue of Finance Act 2015 (c. 11), Sch. 18 para. 5(3)(c)

[^key-f83d89eebbcd4cbec7a2b484422e08e0]: S. 222(4)(b)(iii) and preceding word inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 5(3)(c)

[^key-1f04040501223ff80560b8657ecf50c6]: S. 222(4)(c) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 5(3)(c)

[^key-773dc49d4f1b66ab0c4381fc7aff3b9a]: S. 223(1) substituted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 6(2)

[^key-ae60a5af31f977131e977556e254854e]: Words in s. 223(2) substituted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 6(3)

[^key-cd47cf2ce5b1d3cab78ed44d8ed4be23]: S. 227(12A) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 8(6)

[^key-d4d7841da9c554a9c79e9781dcb8e1a7]: S. 227(14)-(16) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 8(7)

[^key-c6a120d0739e93d76acbc52c4325f464]: Word in s. 227(2) omitted (26.3.2015) by virtue of Finance Act 2015 (c. 11), Sch. 18 para. 8(2)

[^key-afc9c668a1b38eac18798b6591c659f0]: S. 227(2)(d) and preceding word inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 8(2)

[^key-1f6307818371bf129b18741bf207088e]: Words in s. 227(4) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 8(3)

[^key-f34a47ba86345cc74c496358e229d665]: Word in s. 227(6)(b) inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 8(4)

[^key-7b769db79f8ddd4da032a633f79eceea]: Word in s. 227(7) omitted (26.3.2015) by virtue of Finance Act 2015 (c. 11), Sch. 18 para. 8(5)

[^key-b46f7e384d1814db6a168c64cc74cd27]: S. 227(7)(c) and preceding word inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 18 para. 8(5)

[^key-7f015e659d76b2ee8eb925eeb3bc0517]: S. 237(1A) inserted (with effect in accordance with Sch. 19 para. 9 of the amending Act) by Finance Act 2015 (c. 11), Sch. 19 para. 2(2)