The Skipton Fund Limited (Application of Sections 731, 733 and 734 of the Income Tax (Trading and Other Income) Act 2005) (Amendment) Order 2012

Made: 30th April 2012

Laid before the House of Commons: 1st May 2012

Coming into force: 23rd May 2012

The Treasury make the following Order in exercise of the powers conferred by section 732(2) of the Income Tax (Trading and Other Income) Act 2005[^f00001]:

Citation and commencement

1

This Order may be cited as the Skipton Fund Limited (Application of Sections 731, 733 and 734 of the Income Tax (Trading and Other Income) Act 2005) (Amendment) Order 2012 and shall come into force on 23rd May 2012.

Amendment of the Skipton Fund Limited (Application of Sections 731, 733 and 734 of the Income Tax (Trading and Other Income) Act 2005) Order 2011

2

In article 2(2)(b) of The Skipton Fund Limited (Application of Sections 731, 733 and 734 of the Income Tax (Trading and Other Income) Act 2005) Order 2011[^f00002] after “24th March 2011” insert “, as amended on 30th April 2012”.

Signed

Brooks Newmark — Jeremy Wright — Two of the Lords Commissioners of Her Majesty’s Treasury — 30th April 2012

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order amends the Skipton Fund Limited (Application of Sections 731, 733 and 734 of the Income Tax (Trading and Other Income) Act 2005) Order 2011 (“the principal Order”).

The principal Order applies sections 731, 733 and 734 of the Income Tax (Trading and Other Income) Act 2005 (c.5) (periodical payments of personal injury damages etc.) to certain periodical payments to persons infected by hepatitis C through contaminated blood or blood products used by the NHS. The effect of the Order is that no liability to income tax will arise for the recipients of those payments.

The principal Order applies to payments made to a Qualifying Person, defined by reference to an agreement entered into between the Secretary of State for Health and Skipton Fund Limited dated 24 March 2011. That agreement covered payments made to individuals who were treated with NHS blood, blood products or tissue in England.

The agreement was amended on 30 April 2012 to include payments to individuals who became infected through treatment in the rest of the United Kingdom. This Order reflects the changes made by that amendment.

A copy of the agreement may be obtained by writing to the registered office of the company. The address is Skipton Fund Limited c/o Ward Williams Business Advisers Limited, Bay Lodge, 36 Harefield Road, Uxbridge, Middlesex, UB8 1PH.

A Tax Information and Impact Note covering this instrument will be published on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm

Footnotes

[^f00001]: 2005 c.5. Section 732 was amended by paragraph 3 of Schedule 2 to the Crime and Security Act 2010 (c. 17).

[^f00002]: S.I. 2011/1157.