OpenLegislation

Finance Act 1995

1995 c. 4 · Enacted 1 May 1995 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 1 August 2023.

An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.

[1st May 1995]

I1X1Most Gracious Sovereign,

WE, Your Majesty’s most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards raising the necessary supplies to defray Your Majesty’s public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

Annotations to the whole text

Commencement

I1

Act partly in force at Royal Assent, partly retrospective and partly prospective; see individual provisions.

Editorial notes

X1

General amendments to Taxes Acts, Income Tax Acts and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 c. 1 but not against each Act.

Contents

  1. Part I: Duties of Excise
  2. Alcoholic liquor duties
  3. 1Low-strength wine, made-wine and cider.
  4. 2Wine and made-wine: rates.
  5. 3Spirits, beer and cider: rates.
  6. 4Alcoholic ingredients relief. Repealed
  7. 5Denatured alcohol. Repealed
  8. Hydrocarbon oil duties
  9. 6Rates of duty.
  10. 7Rates of duty: further provisions.
  11. 8Hydrocarbon oil: “road vehicle”.
  12. 9Road fuel gas: old stock.
  13. Tobacco products duty
  14. 10Rates of duty.
  15. 11Rates of duty: further provisions.
  16. Pool betting duty
  17. 12Pool betting duty.
  18. Gaming machine licence duty
  19. 13Rates of duty.
  20. 14Extension of duty to amusement machines.
  21. Air passenger duty
  22. 15Rates of duty. Repealed
  23. 16Assessment of interest on duty.
  24. 17Preferential debts. Repealed
  25. Vehicle excise duty
  26. 18Increased rates on 30th November 1994.
  27. 19Vehicle excise and registration: other provisions.
  28. Recovery of overpaid duty
  29. 20Recovery of overpaid excise duty.
  30. Part II: Value Added Tax and Insurance Premium Tax
  31. Value added tax
  32. 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  33. 22Imported works of art, antiques, etc.
  34. 23Agents acting in their own names.
  35. 24Margin schemes.
  36. 25Groups of companies.
  37. 26Co-owners etc. of buildings and land. Not yet in force
  38. 27Set-off of credits.
  39. 28Transactions treated as supplies for purposes of zero-rating etc.
  40. 29Goods removed from warehousing regime.
  41. 30Fuel supplied for private use.
  42. 31Appeals: payment of amounts shown in returns.
  43. 32Penalties for failure to notify etc. Repealed
  44. 33Correction of consolidation errors.
  45. Insurance premium tax
  46. 34Insurance premium tax.
  47. Part III: Income Tax, Corporation Tax and Capital Gains Tax
  48. Income tax: charge, rates and reliefs
  49. 35Charge and rates of income tax for 1995-96. Repealed
  50. 36Personal allowance. Repealed
  51. Corporation tax: charge and rate
  52. 37Charge and rate of corporation tax for 1995.
  53. 38Small companies. Repealed
  54. Taxation of income from land
  55. 39Income chargeable under Schedule A. Repealed
  56. 40Non-residents and their representatives.
  57. 41Income from overseas property. Repealed
  58. 42Abolition of interest relief for commercially let property.
  59. Benefits in kind
  60. 43Cars available for private use. Repealed
  61. 44Cars: accessories for the disabled. Repealed
  62. 45Beneficial loan arrangements: replacement loans. Repealed
  63. Chargeable gains
  64. 46Relief on re-investment: property companies etc.
  65. 47Relief on re-investment: amount of relief, etc.
  66. 48Roll-over relief and groups of companies.
  67. 49De-grouping charges.
  68. 50Corporate bonds.
  69. Insurance companies and friendly societies
  70. 51Companies carrying on life assurance business. Repealed
  71. 52Meaning of “insurance company”.
  72. 53Transfer of life insurance business.
  73. 54Friendly societies.
  74. Insurance policies
  75. 55Qualifying life insurance policies.
  76. 56Foreign life policies etc. Repealed
  77. 57Duties of insurers in relation to life policies etc. Repealed
  78. Pensions
  79. 58Personal pensions: income withdrawals. Repealed
  80. 59Pensions: meaning of insurance company etc. Repealed
  81. 60Application of section 59. Repealed
  82. 61Cessation of approval of certain retirement benefits schemes. Repealed
  83. Saving and investment: general
  84. 62Follow-up TESSAs. Repealed
  85. 63TESSAs: European institutions. Repealed
  86. 64Personal equity plans: tax representatives. Repealed
  87. 65Contractual savings schemes. Repealed
  88. 66Enterprise investment scheme: ICTA amendments. Repealed
  89. 67Enterprise investment scheme: TCGA amendments.
  90. 68Business expansion scheme: ICTA amendments
  91. 69Business expansion scheme: TCGA amendments.
  92. Venture capital trusts
  93. 70Approval of companies as trusts. Repealed
  94. 71Income tax relief. Repealed
  95. 72Capital gains.
  96. 73Regulations. Repealed
  97. Settlements and estates
  98. 74Settlements: liability of settlor.
  99. 75Deceased persons’ estates: taxation of beneficiaries.
  100. 76Untaxed income of a deceased person’s estate.
  101. Securities
  102. 77Interest on gilt-edged securities payable without deduction of tax. Repealed
  103. 78Periodic accounting for tax on interest on gilt-edged securities.
  104. 79Sale and repurchase of securities: exclusion from accrued income scheme. Repealed
  105. 80Treatment of price differential on sale and repurchase of securities.
  106. 81Manufactured interest payments: exclusion from bond-washing provisions. Repealed
  107. 82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  108. 83Power to make special provision for special cases.
  109. 84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  110. 85. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  111. Interest
  112. 86Deduction of tax from interest on deposits. Repealed
  113. 87Interest payments deemed to be distributions. Repealed
  114. Debts
  115. 88Generalisation of ss.63 to 66 of Finance Act 1993.
  116. 89Application of ss.63 to 66 to debts held by associates of banks.
  117. Reliefs
  118. 90Relief for post-cessation expenditure. Repealed
  119. 91Employee liabilities and indemnity insurance. Repealed
  120. 92Post-employment deductions. Repealed
  121. 93Incidental overnight expenses etc. Repealed
  122. Capital allowances: ships
  123. 94. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  124. 95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  125. 96. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  126. 97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  127. 98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  128. Capital allowances: other provisions
  129. 99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  130. 100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  131. 101. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  132. 102Commencement of certain provisions.
  133. Management: self-assessment etc.
  134. 103Liability of trustees.
  135. 104Returns and self-assessments.
  136. 105Records for purposes of returns.
  137. 106Return of employees’ emoluments etc.
  138. 107Procedure for making claims etc.
  139. 108Payments on account of income tax. Repealed
  140. 109Surcharges on unpaid tax.
  141. 110Interest on overdue tax.
  142. 111Assessments in respect of income taken into account under PAYE. Repealed
  143. 112Recovery of certain amounts deducted or paid under MIRAS.
  144. 113Allowable losses: capital gains tax.
  145. 114Liability of trustees and personal representatives: capital gains tax.
  146. 115Minor amendments and repeals.
  147. 116Transitional provisions.
  148. Changes for facilitating self-assessment
  149. 117Treatment of partnerships. Repealed
  150. 118Loss relief: general. Repealed
  151. 119Relief for losses on unquoted shares. Repealed
  152. 120Relief for pre-trading expenditure. Repealed
  153. 121Basis of apportionment for Cases I, II and VI of Schedule D. Repealed
  154. 122Amendments of transitional provisions. Repealed
  155. 123Prevention of exploitation of transitional provisions.
  156. Change of residence and non-residents
  157. 124Change of residence. Repealed
  158. 125Non-resident partners. Repealed
  159. 126UK representatives of non-residents. Repealed
  160. 127Persons not treated as UK representatives. Repealed
  161. 128Limit on income chargeable on non-residents: income tax. Repealed
  162. 129Limit on income chargeable on non-residents: corporation tax. Repealed
  163. Exchange gains and losses and currency contracts
  164. 130Exchange gains and losses: general.
  165. 131Exchange gains and losses: transitional provision. Repealed
  166. 132Currency contracts: transitional provisions. Repealed
  167. Provisions with a foreign element
  168. 133Controlled foreign companies.
  169. 134Offshore funds. Repealed
  170. Miscellaneous
  171. 135Change in ownership of investment company: deductions. Repealed
  172. 136Profit-related pay.
  173. 137Part-time workers: miscellaneous provisions.
  174. 138Charities, etc.: lotteries. Repealed
  175. 139Sub-contractors in the construction industry. Repealed
  176. 140Valuation of trading stock on discontinuance of trade. Repealed
  177. 141Incapacity benefit. Repealed
  178. 142Annuities purchased where certain claims or actions are settled.
  179. 143Lloyd’s underwriters: new-style special reserve funds.
  180. 144Local government residuary body. Repealed
  181. 145Payment of rent &c., under deduction of tax.
  182. Part IV: Petroleum Revenue Tax
  183. 146Restriction of unrelievable field losses.
  184. 147Removal of time limits for claims for unrelievable field losses.
  185. 148Transfer of interests in fields: restriction of transferred losses.
  186. Part V: Stamp Duty
  187. 149Transfer: associated bodies.
  188. 150Northern Ireland transfer: associated bodies.
  189. 151Lease or tack: associated bodies.
  190. Part VI: Miscellaneous and General
  191. Miscellaneous
  192. 152Open-ended investment companies.
  193. 153. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  194. 154Short rotation coppice.
  195. 155Inheritance tax: agricultural property.
  196. 156Proceedings for tax in sheriff court.
  197. 157Certificates of tax deposit.
  198. 158Amendment of the Exchequer and Audit Departments Act 1866. Repealed
  199. 159Ports levy.
  200. 160. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  201. General
  202. 161Interpretation.
  203. 162Repeals.
  204. 163Short title.
  205. Schedule 1Table of rates of duty on wine and made-wine
  206. Schedule 2: Denatured alcohol
  207. The Alcoholic Liquor Duties Act 1979
  208. 1Paragraph 1
  209. 2Paragraph 2
  210. 3Paragraph 3
  211. 4Paragraph 4 Repealed
  212. 5Paragraph 5
  213. 6Paragraph 6
  214. 7Paragraph 7
  215. The Finance Act 1994
  216. 8Paragraph 8
  217. Schedule 3: Amusement Machine Licence Duty
  218. Introductory
  219. 1Paragraph 1
  220. Amusement machine licences
  221. 2Paragraph 2
  222. Amusement machine licence duty
  223. 3Paragraph 3
  224. Rate of duty
  225. 4Paragraph 4
  226. Restrictions on provision of machines
  227. 5Paragraph 5
  228. Meaning of “amusement machine”
  229. 6Paragraph 6
  230. 7Paragraph 7
  231. Supplementary provisions
  232. 8Paragraph 8
  233. 9Paragraph 9
  234. 10Paragraph 10
  235. 11Paragraph 11
  236. Consequential amendment of the Customs and Excise Management Act 1979
  237. 12Paragraph 12
  238. Schedule 4: Vehicle Excise and Registration
  239. Part I: Introduction
  240. 1Paragraph 1
  241. Part II: Exemptions
  242. Abolition of certain exemptions
  243. 2Paragraph 2
  244. Exemption for police vehicles
  245. 3Paragraph 3
  246. Exemption for vehicles used between different parts of land
  247. 4Paragraph 4
  248. Commencement
  249. 5Paragraph 5
  250. Part III: Rates
  251. General
  252. 6Paragraph 6
  253. Motorcycles
  254. 7Paragraph 7 Repealed
  255. Buses etc.
  256. 8Paragraph 8
  257. Special vehicles
  258. 9Paragraph 9
  259. Special concessionary vehicles
  260. 10Paragraph 10 Repealed
  261. Recovery vehicles
  262. 11Paragraph 11
  263. Vehicles used for exceptional loads
  264. 12Paragraph 12 Repealed
  265. Haulage vehicles
  266. 13Paragraph 13
  267. Goods vehicles
  268. 14Paragraph 14
  269. Charge at higher rate
  270. 15Paragraph 15
  271. Commencement
  272. 16Paragraph 16
  273. Part IV: Rates: Supplementary
  274. Introduction
  275. 17Paragraph 17
  276. Issue of vehicle licences
  277. 18Paragraph 18
  278. Exchange of licences
  279. 19Paragraph 19
  280. Exceptions from charge at higher rate
  281. 20Paragraph 20
  282. Combined road and rail transport
  283. 21Paragraph 21
  284. Relevant higher rate used in calculating penalty
  285. 22Paragraph 22
  286. Relevant period used in calculating penalty
  287. 23Paragraph 23
  288. False or misleading information etc.
  289. 24Paragraph 24
  290. 25Paragraph 25
  291. Meaning of “revenue weight”
  292. 26Paragraph 26
  293. Interpretation
  294. 27Paragraph 27
  295. Certificates as to vehicle weight
  296. 28Paragraph 28
  297. Commencement
  298. 29Paragraph 29
  299. Part V: Licences
  300. Applications for licences
  301. 30Paragraph 30
  302. Duration of trade licences
  303. 31Paragraph 31
  304. Payment for licences by cheque
  305. 32Paragraph 32
  306. Part VI: Registration
  307. 33Paragraph 33
  308. 34Paragraph 34
  309. Part VII: Offences
  310. 35Paragraph 35
  311. 36Paragraph 36
  312. 37Paragraph 37
  313. Part VIII: Proceedings
  314. 38Paragraph 38 Repealed
  315. Part IX: Transitionals
  316. Higher rate not to apply
  317. 39Paragraph 39
  318. Regulations
  319. 40Paragraph 40
  320. Part X: Special Reliefs
  321. Relief where exemption abolished
  322. 41Paragraph 41
  323. Relief where vehicle changes category
  324. 42Paragraph 42
  325. Schedule 5: Insurance Premium Tax
  326. 1Paragraph 1
  327. 2Paragraph 2
  328. 3Paragraph 3
  329. 4Paragraph 4
  330. 5Paragraph 5
  331. 6Paragraph 6
  332. 7Paragraph 7 Repealed
  333. 8Paragraph 8
  334. 9Paragraph 9 Repealed
  335. Schedule 6: Amendments in connection with charge under Schedule A
  336. The Taxes Act 1988
  337. 1Paragraph 1 Repealed
  338. 2Paragraph 2 Repealed
  339. 3Paragraph 3
  340. 4Paragraph 4 Repealed
  341. 5Paragraph 5 Repealed
  342. 6Paragraph 6 Repealed
  343. 7Paragraph 7 Repealed
  344. 8Paragraph 8 Repealed
  345. 9Paragraph 9 Repealed
  346. 10Paragraph 10 Repealed
  347. 11Paragraph 11 Repealed
  348. 12Paragraph 12 Repealed
  349. 13Paragraph 13 Repealed
  350. 14Paragraph 14 Repealed
  351. 15Paragraph 15 Repealed
  352. 16Paragraph 16 Repealed
  353. 17Paragraph 17 Repealed
  354. 18Paragraph 18 Repealed
  355. 19Paragraph 19 Repealed
  356. 20Paragraph 20 Repealed
  357. 21Paragraph 21 Repealed
  358. 22Paragraph 22 Repealed
  359. 23Paragraph 23 Repealed
  360. 24Paragraph 24 Repealed
  361. 25Paragraph 25 Repealed
  362. 26Paragraph 26
  363. 27Paragraph 27 Repealed
  364. 28Paragraph 28 Repealed
  365. The Capital Allowances Act 1990 (c. 1)
  366. 29Paragraph 29 Repealed
  367. 30Paragraph 30 Repealed
  368. 31Paragraph 31 Repealed
  369. 32Paragraph 32 Repealed
  370. 33Paragraph 33 Repealed
  371. 34Paragraph 34 Repealed
  372. 35Paragraph 35 Repealed
  373. The Taxation of Chargeable Gains Act 1992 (c. 12)
  374. 36Paragraph 36 Repealed
  375. 37Paragraph 37 Repealed
  376. The Finance (No. 2) Act 1992 (c. 48)
  377. 38Paragraph 38 Repealed
  378. Schedule 7
  379. 1Paragraph 1
  380. 2Paragraph 2
  381. Schedule 8: Life assurance business Repealed
  382. Part I: General amendments Repealed
  383. Classes of life assurance business Repealed
  384. 1Paragraph 1 Repealed
  385. 2Paragraph 2 Repealed
  386. 3Paragraph 3 Repealed
  387. 4Paragraph 4 Repealed
  388. 5Paragraph 5 Repealed
  389. 6Paragraph 6 Repealed
  390. 7Paragraph 7 Repealed
  391. 8Paragraph 8 Repealed
  392. 9Paragraph 9 Repealed
  393. 10Paragraph 10 Repealed
  394. Linked assets Repealed
  395. 11Paragraph 11 Repealed
  396. 12Paragraph 12 Repealed
  397. 13Paragraph 13 Repealed
  398. 14Paragraph 14 Repealed
  399. 15Paragraph 15 Repealed
  400. Receipts to be brought into account Repealed
  401. 16Paragraph 16 Repealed
  402. Supplementary provisions as to apportionment Repealed
  403. 17Paragraph 17 Repealed
  404. Franked investment income: supplementary provisions Repealed
  405. 18Paragraph 18 Repealed
  406. 19Paragraph 19 Repealed
  407. Computation of losses Repealed
  408. 20Paragraph 20 Repealed
  409. Treatment of interest and annuities Repealed
  410. 21Paragraph 21 Repealed
  411. Interest on repayment of advance corporation tax Repealed
  412. 22Paragraph 22 Repealed
  413. Capital allowances Repealed
  414. 23Paragraph 23 Repealed
  415. 24Paragraph 24 Repealed
  416. Treatment of tax-free income Repealed
  417. 25Paragraph 25 Repealed
  418. Taxation of pure reinsurance business Repealed
  419. 26Paragraph 26 Repealed
  420. Life reinsurance business: separate charge on profits Repealed
  421. 27Paragraph 27 Repealed
  422. Provisions applicable to charge under Case I of Schedule D Repealed
  423. 28Paragraph 28 Repealed
  424. 29Paragraph 29 Repealed
  425. Overseas life assurance business Repealed
  426. 30Paragraph 30 Repealed
  427. 31Paragraph 31 Repealed
  428. 32Paragraph 32 Repealed
  429. 33Paragraph 33 Repealed
  430. Taxation of investment return where risk reinsured Repealed
  431. 34Paragraph 34 Repealed
  432. Part II: Application of provisions to overseas life insurance companies Repealed
  433. 35Paragraph 35 Repealed
  434. 36Paragraph 36 Repealed
  435. 37Paragraph 37 Repealed
  436. 38Paragraph 38 Repealed
  437. 39Paragraph 39 Repealed
  438. 40Paragraph 40 Repealed
  439. 41Paragraph 41 Repealed
  440. 42Paragraph 42 Repealed
  441. 43Paragraph 43 Repealed
  442. 44Paragraph 44 Repealed
  443. 45Paragraph 45 Repealed
  444. 46Paragraph 46 Repealed
  445. 47Paragraph 47 Repealed
  446. 48Paragraph 48 Repealed
  447. 49Paragraph 49 Repealed
  448. Part III: Supplementary provisions Repealed
  449. Penalties Repealed
  450. 50Paragraph 50 Repealed
  451. Miscellaneous Repealed
  452. 51Paragraph 51 Repealed
  453. Commencement Repealed
  454. 52Paragraph 52 Repealed
  455. 53Paragraph 53 Repealed
  456. 54Paragraph 54 Repealed
  457. 55Paragraph 55 Repealed
  458. 56Paragraph 56 Repealed
  459. 57Paragraph 57 Repealed
  460. 58Paragraph 58 Repealed
  461. Schedule 9: Transfer of Life Insurance Business
  462. Consequential amendment of references to sanctioned transfers
  463. 1Paragraph 1 Repealed
  464. Modification of the Taxes Act 1988 in relation to overseas life insurance companies
  465. 2Paragraph 2 Repealed
  466. Modification of the Capital Allowances Act 1990
  467. 3Paragraph 3 Repealed
  468. Modification of the Taxation of Chargeable Gains Act 1992
  469. 4Paragraph 4
  470. 5Paragraph 5 Repealed
  471. 6Paragraph 6 Repealed
  472. Schedule 10: Friendly Societies
  473. Tax exempt life or endowment business
  474. 1Paragraph 1 Repealed
  475. Maximum benefits payable to members
  476. 2Paragraph 2 Repealed
  477. Qualifying policies
  478. 3Paragraph 3
  479. 4Paragraph 4
  480. Schedule 11: Personal pensions: income withdrawals Repealed
  481. Introductory Repealed
  482. 1Paragraph 1 Repealed
  483. Interpretation Repealed
  484. 2Paragraph 2 Repealed
  485. Conditions of approval: benefits that may be provided Repealed
  486. 3Paragraph 3 Repealed
  487. Income withdrawals Repealed
  488. 4Paragraph 4 Repealed
  489. Lump sum to member Repealed
  490. 5Paragraph 5 Repealed
  491. Annuity after death of member Repealed
  492. 6Paragraph 6 Repealed
  493. Income withdrawals after death of member Repealed
  494. 7Paragraph 7 Repealed
  495. Lump sum on death of member Repealed
  496. 8Paragraph 8 Repealed
  497. Other restrictions on approval Repealed
  498. 9Paragraph 9 Repealed
  499. Maximum amount of deductions Repealed
  500. 10Paragraph 10 Repealed
  501. Treatment of personal pension income Repealed
  502. 11Paragraph 11 Repealed
  503. Tax charge on return of contributions after pension date Repealed
  504. 12Paragraph 12 Repealed
  505. Schedule 12: Contractual Savings Schemes Repealed
  506. Introduction Repealed
  507. 1Paragraph 1 Repealed
  508. Curtailment of schemes Repealed
  509. 2Paragraph 2 Repealed
  510. European institutions Repealed
  511. 3Paragraph 3 Repealed
  512. Certification: Treasury specifications Repealed
  513. 4Paragraph 4 Repealed
  514. Treasury authorisation Repealed
  515. 5Paragraph 5 Repealed
  516. Section 326: supplementary Repealed
  517. 6Paragraph 6 Repealed
  518. Payments under certain contracts Repealed
  519. 7Paragraph 7 Repealed
  520. Transitional Repealed
  521. 8Paragraph 8 Repealed
  522. Schedule 13: Enterprise Investment Scheme
  523. Introduction
  524. 1Paragraph 1
  525. Amendments of section 150A
  526. 2Paragraph 2
  527. Reduction of relief
  528. 3Paragraph 3
  529. Re-investment
  530. 4Paragraph 4
  531. Schedule 14Venture Capital Trusts: Meaning of “qualifying holdings” Repealed
  532. Schedule 15Venture Capital Trusts: Relief from Income Tax Repealed
  533. Schedule 16
  534. Schedule 17: Settlements: liability of settlor
  535. Part I: The new provisions
  536. 1Paragraph 1
  537. Part II: Minor and consequential amendments of the Taxes Act 1988
  538. 2Paragraph 2 Repealed
  539. 3Paragraph 3 Repealed
  540. 4Paragraph 4
  541. 5Paragraph 5 Repealed
  542. 6Paragraph 6 Repealed
  543. 7Paragraph 7
  544. 8Paragraph 8 Repealed
  545. 9Paragraph 9 Repealed
  546. 10Paragraph 10
  547. 11Paragraph 11 Repealed
  548. 12Paragraph 12
  549. 13Paragraph 13 Repealed
  550. 14Paragraph 14 Repealed
  551. 15Paragraph 15
  552. 16Paragraph 16 Repealed
  553. 17Paragraph 17 Repealed
  554. 18Paragraph 18 Repealed
  555. 19Paragraph 19 Repealed
  556. 20Paragraph 20 Repealed
  557. Part III: Consequential amendments of other enactments
  558. Taxes Management Act 1970 (c.9)
  559. 21Paragraph 21 Repealed
  560. 22Paragraph 22
  561. 23Paragraph 23 Repealed
  562. Finance Act 1989 (c.26)
  563. 24Paragraph 24 Repealed
  564. 25Paragraph 25
  565. Finance Act 1990 (c.29)
  566. 26Paragraph 26 Repealed
  567. Taxation of Chargeable Gains Act 1992 (c.12)
  568. 27Paragraph 27 Repealed
  569. 28Paragraph 28 Repealed
  570. 29Paragraph 29 Repealed
  571. 30Paragraph 30 Repealed
  572. 31Paragraph 31
  573. 32Paragraph 32 Repealed
  574. Schedule 18: Deceased persons’ estates
  575. Introductory
  576. 1Paragraph 1
  577. Limited interests in residue
  578. 2Paragraph 2 Repealed
  579. Absolute interests in residue
  580. 3Paragraph 3
  581. Supplemental provisions relating to section 696
  582. 4Paragraph 4
  583. Special provisions as to successive interests in residue
  584. 5Paragraph 5
  585. Adjustments and information
  586. 6Paragraph 6 Repealed
  587. Interpretation
  588. 7Paragraph 7
  589. Schedule 19Schedule 19
  590. Schedule 20: Claims etc. not included in returns
  591. Making of claims
  592. 1Paragraph 1
  593. Keeping and preserving of records
  594. 2Paragraph 2
  595. Amendments of claims
  596. 3Paragraph 3
  597. Giving effect to claims and amendments
  598. 4Paragraph 4
  599. Power to enquire into claims
  600. 5Paragraph 5
  601. Schedule 21: Self-assessment etc: transitional provisions
  602. Notice of liability
  603. 1Paragraph 1
  604. Payments on account of income tax
  605. 2Paragraph 2
  606. Partnerships
  607. 3Paragraph 3
  608. Schedule 22: Prevention of exploitation of SCHEDULE 2 TO ITTOIA 2005 (SO FAR AS RELATING TO OVERLAP PROFIT)
  609. Part I: Cases I and II of Schedule D
  610. Increase of profits or gains of transitional period
  611. 1Paragraph 1
  612. 2Paragraph 2 Repealed
  613. Increase of profits or gains of transitional overlap period
  614. 3Paragraph 3
  615. 4Paragraph 4 Repealed
  616. 5Paragraph 5
  617. Part II: Cases III, IV and V of Schedule D
  618. Increase of trade etc. profits or gains arising in 1995-96 and 1996-97
  619. 6Paragraph 6 Repealed
  620. Increase of trade etc. profits or gains arising in transitional overlap period
  621. 7Paragraph 7
  622. 8Paragraph 8 Repealed
  623. Increase of interest arising in 1995-96 and 1996-97
  624. 9Paragraph 9 Repealed
  625. Increase of other income arising in 1995-96 and 1996-97
  626. 10Paragraph 10 Repealed
  627. Part III: Procedural and other provisions
  628. Time limits for purposes of paragraphs 1, 2, 4, 6 and 8 to 10
  629. 11Paragraph 11
  630. Advance notice for purposes of paragraphs 3, 5 and 7
  631. 12Paragraph 12
  632. Penalties not to apply in certain cases
  633. 13Paragraph 13
  634. Part IV: Interpretation
  635. Relevant changes for purposes of paragraphs 1, 3, 6 and 7
  636. 14Paragraph 14
  637. Relevant transactions for purposes of paragraphs 1, 3, 6 and 7
  638. 15Paragraph 15
  639. 16Paragraph 16
  640. 17Paragraph 17
  641. Relevant arrangements for purposes of paragraph 9
  642. 18Paragraph 18 Repealed
  643. Relevant arrangements for purposes of paragraph 10
  644. 19Paragraph 19 Repealed
  645. Relevant transactions for purposes of paragraph 10
  646. 20Paragraph 20 Repealed
  647. General
  648. 21Paragraph 21
  649. Schedule 23: Obligations etc. imposed on UK representatives Repealed
  650. General imposition of obligations et ceteralaetc. Repealed
  651. 1Paragraph 1 Repealed
  652. Discharge of obligations and liabilities Repealed
  653. 2Paragraph 2 Repealed
  654. Obligations and liabilities requiring notice Repealed
  655. 3Paragraph 3 Repealed
  656. Information requirements Repealed
  657. 4Paragraph 4 Repealed
  658. Criminal offences and penalties Et ceteralaetc Repealed
  659. 5Paragraph 5 Repealed
  660. Indemnities Repealed
  661. 6Paragraph 6 Repealed
  662. Meaning of “independent agent” Repealed
  663. 7Paragraph 7 Repealed
  664. Schedule 24: Exchange gains and losses
  665. Part I: Amendments of Finance Act 1993
  666. Introduction
  667. 1Paragraph 1 Repealed
  668. Trading gains and losses
  669. 2Paragraph 2 Repealed
  670. Non-trading gains and losses
  671. 3Paragraph 3 Repealed
  672. Assets and liabilities
  673. 4Paragraph 4 Repealed
  674. Chargeable gains
  675. 5Paragraph 5 Repealed
  676. 6Paragraph 6 Repealed
  677. Part II: Amendments of other provisions
  678. Introduction
  679. 7Paragraph 7
  680. Interest on overdue tax
  681. 8Paragraph 8
  682. 9Paragraph 9 Repealed
  683. 10Paragraph 10
  684. Interest on tax overpaid
  685. 11Paragraph 11
  686. 12Paragraph 12
  687. Schedule 25: Controlled Foreign Companies
  688. Introduction
  689. 1Paragraph 1
  690. The principal amendment
  691. 2Paragraph 2 Repealed
  692. Connected amendments
  693. 3Paragraph 3 Repealed
  694. 4Paragraph 4 Repealed
  695. 5Paragraph 5 Repealed
  696. 6Paragraph 6
  697. 7Paragraph 7 Repealed
  698. Schedule 26: Change in ownership of investment company: deductions Repealed
  699. Introductory Repealed
  700. 1Paragraph 1 Repealed
  701. Main provisions Repealed
  702. 2Paragraph 2 Repealed
  703. Supplementary provisions Repealed
  704. 3Paragraph 3 Repealed
  705. Consequential amendments Repealed
  706. 4Paragraph 4 Repealed
  707. Application of Schedule Repealed
  708. 5Paragraph 5 Repealed
  709. Schedule 27: Sub-contractors in the construction industry Repealed
  710. ... Repealed
  711. Paragraph Repealed
  712. Repealed
  713. Paragraph Repealed
  714. Repealed
  715. Paragraph Repealed
  716. Repealed
  717. Paragraph Repealed
  718. Paragraph Repealed
  719. Paragraph Repealed
  720. Paragraph Repealed
  721. Repealed
  722. Paragraph Repealed
  723. Repealed
  724. Paragraph Repealed
  725. Schedule 28
  726. 1Paragraph 1
  727. 2Paragraph 2
  728. Schedule 29: Repeals
  729. IAlcoholic Liquor
  730. IIRoad Fuel Gas
  731. IIIBetting and Gaming etc.
  732. IVAir Passenger Duty
  733. VVehicle Excise and Registration
  734. VIValue Added Tax
  735. VIIInsurance Premium Tax
  736. VIIIIncome Tax, Corporation Tax and Capital Gains Tax
  737. IXPetroleum Revenue Tax
  738. XStamp Duty
  739. XIInheritance Tax: Agricultural Property
  740. XIIPorts Levy