OpenLegislation

Finance Act 1996 in England

1996 c. 8 · Enacted 29 April 1996 · Extends to United Kingdom

Not fully up to date. 8 changes made by later legislation have not yet been written into this text, which is revised to 18 March 2026.

See the changes not yet applied
ProvisionChangeMade by
Sch. 5 para. 2(6)(e)words repealedThe Criminal Evidence (Northern Ireland) Order 1999 Sch. 3
s. 43A(4)(b)-(d)repealedPollution Prevention and Control Act 1999 Sch. 3
s. 66(ba)insertedPollution Prevention and Control Act 1999 Sch. 2 para. 19
Sch. 28 para. 6words omittedFinance Act 2008 s. 41(7)(e)
Sch. 20 para. 20repealedFinance Act 2012 Sch. 39 para. 28(1)
s. 167(5)repealedFinance Act 2012 Sch. 39 para. 28(1)
s. 167(6)repealedFinance Act 2012 Sch. 39 para. 28(1)
Sch. 18 para. 11repealedFinance Act 2012 Sch. 39 para. 28(1)

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.

[29th April 1996]

I1C1Most 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:—C2

Annotations to the whole text

Modifications

C1

Act modified (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) Regulations 2006 (S.I. 2006/964), reg. 95 (as amended (30.6.2008) by The Authorised Investment Funds (Tax) (Amendment No. 2) Regulations 2008 (S.I. 2008/1463), regs. 1, 2)

C2

Act modified (21.2.2009) by The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (S.I. 2009/317), arts. 1, 3, Sch.

Commencement

I1

Act in force at Royal Assent (29.4.1996) subject to specific provisions as mentioned.

Contents

  1. Part I: Excise Duties
  2. Alcoholic liquor duties
  3. 1Spirits: rate of duty.
  4. 2Wine and made-wine: rates.
  5. 3Cider: rate of duty.
  6. Hydrocarbon oil duties
  7. 4Rates of duty and rebate.
  8. 5Misuse of rebated kerosene.
  9. 6Mixing of rebated oil.
  10. 7Marked oil used as fuel for road vehicles.
  11. 8Relief for marine voyages.
  12. Tobacco products duty
  13. 9Rates of duty.
  14. Betting duties: rates
  15. 10General betting duty.
  16. 11Pool betting duty.
  17. Amusement machine licence duty
  18. 12Licences for machines as well as premises.
  19. Air passenger duty
  20. 13Pleasure flights.
  21. Vehicle excise duty
  22. 14Increase in general rate.
  23. 15Electrically propelled vehicles.
  24. 16Steam powered vehicles etc.
  25. 17Vehicles capable of conveying loads.
  26. 18Old vehicles.
  27. 19Old vehicles: further provisions.
  28. 20Exemptions for vehicle testing: general.
  29. 21Exemptions for vehicle testing in Northern Ireland. Not yet in force
  30. 22Other provisions relating to Northern Ireland.
  31. 23Licensing and registration.
  32. Repeal of certain drawbacks and allowances
  33. 24Repeal of certain drawbacks and allowances.
  34. Part II: Value Added Tax
  35. EC Second VAT Simplification Directive
  36. 25EC Second VAT Simplification Directive.
  37. 26Fiscal and other warehousing.
  38. 27Value of imported goods.
  39. 28Adaptation of aircraft and hovercraft.
  40. 29Work on materials.
  41. Other provisions relating to charges to VAT
  42. 30Refunds in connection with construction and conversion.
  43. 31Groups: anti-avoidance.
  44. 32Supplies of gold etc.
  45. 33Small gifts.
  46. Payment and enforcement
  47. 34Method of making payments on account.
  48. 35Default surcharges.
  49. 36Repeated misdeclaration penalty. Repealed
  50. 37Penalties for failure to notify. Repealed
  51. 38VAT invoices and accounting.
  52. Part III: Landfill Tax
  53. The basic provisions
  54. 39Landfill tax.
  55. 40Charge to tax.
  56. 40ADisposals of material
  57. 41Liability to pay tax.
  58. 42Amount of tax.
  59. Exemptions
  60. 43Material removed from water.
  61. 43AContaminated land. Repealed
  62. 43BContaminated land: certificates.
  63. 43CSite restoration. Repealed
  64. 44Mining and quarrying.
  65. 44AQuarries.
  66. 45Pet cemeteries.
  67. 46Power to vary.
  68. Administration
  69. 47Registration.
  70. 48Information required to keep register up to date.
  71. 49Accounting for tax and time for payment.
  72. 50Power to assess: registered persons.
  73. 50APower to assess: unregistered persons
  74. Credit
  75. 51Credit: general.
  76. 52Bad debts.
  77. 53Bodies concerned with the environment.
  78. Review and appeal
  79. 54Appeals
  80. 54AOffer of review
  81. 54BRight to require review
  82. 54CReview by HMRC
  83. 54DExtensions of time
  84. 54EReview out of time
  85. 54FNature of review etc
  86. 54GBringing of appeals
  87. 55Appeals: further provisions
  88. 56Appeals: other provisions.
  89. 57Review and appeal: commencement.
  90. Miscellaneous
  91. 58Partnership, bankruptcy, transfer of business, etc.
  92. 59Groups of companies.
  93. 60Information, powers, penalties, secondary liability, etc.
  94. 61Taxable disposals: special provisions.
  95. 62Taxable disposals: regulations. Repealed
  96. 63Qualifying material: special provisions.
  97. 63AQualifying fines: special provisions
  98. Interpretation
  99. 64Disposal of material as waste. Repealed
  100. 65Disposal by way of landfill. Repealed
  101. 65APrescribed landfill site activities to be treated as disposals Repealed
  102. 66Landfill sites. Repealed
  103. 67Operators of landfill sites. Repealed
  104. 68Weight of material disposed of.
  105. 69Taxable activities.
  106. 70Interpretation: other provisions.
  107. Supplementary
  108. 71Orders and regulations.
  109. Part IV: Income Tax, Corporation Tax and Capital Gains Tax
  110. Chapter I: Principal provisions
  111. Income tax charge, rates and reliefs
  112. 72Charge and rates of income tax for 1996-97.
  113. 73Application of lower rate to income from savings.
  114. 74Personal allowances for 1996-97. Repealed
  115. 75Blind person’s allowance. Repealed
  116. 76Limit on relief for interest. Repealed
  117. Corporation tax charge and rate
  118. 77Charge and rate of corporation tax for 1996.
  119. 78Small companies. Repealed
  120. Abolition of Schedule C charge etc.
  121. 79Abolition of Schedule C charge etc.
  122. Chapter II: Loan relationships
  123. Introductory provisions
  124. 80Taxation of loan relationships. Repealed
  125. 81Meaning of “loan relationship” etc. Repealed
  126. Taxation of profits and gains and relief for deficits
  127. 82Method of bringing amounts into account. Repealed
  128. 83Non-trading deficit on loan relationships. Repealed
  129. Computational provisions etc.
  130. 84Debits and credits brought into account. Repealed
  131. 84AExchange gains and losses from loan relationships Repealed
  132. 85AComputation in accordance with generally accepted accounting practice Repealed
  133. 85BAmounts recognised in determining company’s profit or loss Repealed
  134. 85CAmounts not fully recognised for accounting purposes Repealed
  135. 87Accounting method where parties have a connection. Repealed
  136. 87AMeaning of “control” in section 87 Repealed
  137. 88Exemption from section 87 in certain cases. Repealed
  138. 88AAccounting method where rate of interest is reset Repealed
  139. 89Inconsistent application of accounting methods. Repealed
  140. 90Changes of accounting method. Repealed
  141. 90AChange of accounting basis applicable to assets or liabilities Repealed
  142. 91Payments subject to deduction of tax. Repealed
  143. Shares treated as loan relationships
  144. 91AShares subject to outstanding third party obligations Repealed
  145. 91BNon-qualifying shares Repealed
  146. 91CCondition 1 for section 91B(6)(b) Repealed
  147. 91DCondition 2 for section 91B(6)(b) Repealed
  148. 91ECondition 3 for section 91B(6)(b) Repealed
  149. 91FPower to add, vary or remove Conditions for section 91B(6)(b) Repealed
  150. 91GShares beginning or ceasing to be subject to section 91A or 91B Repealed
  151. Partnerships
  152. 91HPayments in return for capital contribution Repealed
  153. 91IChange of partnership shares Repealed
  154. Special cases
  155. 92Convertible securities etc: creditor relationships Repealed
  156. 92AConvertible securities etc: debtor relationships Repealed
  157. 93Relationships linked to the value of chargeable assets. Repealed
  158. 93ARelationships linked to the value of chargeable assets: guaranteed returns Repealed
  159. 93BLoan relationships ceasing to be within section 93 Repealed
  160. 93CCreditor relationships and benefit derived by connected persons Repealed
  161. 94Indexed gilt-edged securities. Repealed
  162. 94ALoan relationships with embedded derivatives Repealed
  163. 94BLoan relationships treated differently by connected debtor and creditor Repealed
  164. 95Gilt strips. Repealed
  165. 96Special rules for certain other gilts. Repealed
  166. 97Manufactured interest. Repealed
  167. 98Collective investment schemes. Repealed
  168. 99Insurance companies. Repealed
  169. Miscellaneous other provisions
  170. 100Money debts etc not arising from the lending of money Repealed
  171. 101Financial instruments. Repealed
  172. 102Discounted securities: income tax provisions. Repealed
  173. Supplemental
  174. 103Interpretation of Chapter. Repealed
  175. 104Minor and consequential amendments.
  176. 105Commencement and transitional provisions.
  177. Chapter III: Provisions relating to the Schedule E charge
  178. 106Living accommodation provided for employees. Repealed
  179. 107Beneficial loans. Repealed
  180. 108Incidental benefits for holders of certain offices etc. Repealed
  181. 109Charitable donations: payroll deduction schemes. Repealed
  182. 110PAYE settlement agreements. Repealed
  183. Chapter IV: Share Options, Profit Sharing and Employee Share Ownership
  184. Share options
  185. 111Amount or value of consideration for option.
  186. 112Release and replacement.
  187. Savings-related share option schemes
  188. 113Exercise of rights by employees of non-participating companies. Repealed
  189. Other share option schemes
  190. 114Requirements to be satisfied by approved schemes. Repealed
  191. 115Transitional provisions. Repealed
  192. Profit sharing schemes
  193. 116The release date.
  194. 117The appropriate percentage.
  195. 118The appropriate allowance.
  196. Employee share ownership trusts
  197. 119Removal of requirement for at least one year’s service.
  198. 120Grant and exercise of share options.
  199. Chapter V: Self Assessment, General Management etc.
  200. General
  201. 121Returns and self assessment.
  202. 122Notional tax deductions and payments.
  203. 123Liability of partners.
  204. 124Retention of original records.
  205. 125Determination of tax where no return delivered.
  206. 126PAYE regulations.
  207. 127Repayment postponed pending completion of enquiries.
  208. 128Claims for reliefs involving two or more years.
  209. 129Claims for medical insurance and vocational training relief.
  210. 130Procedure for giving notices.
  211. 131Interest on overdue tax.
  212. 132Overdue tax and excessive payments by the Board.
  213. 133Claims and enquiries.
  214. 134Discretions exercisable by the Board etc.
  215. 135Time limits for claims etc.
  216. 136Appeals.
  217. Companies
  218. 137Schedules 13 and 16 to the Taxes Act 1988. Repealed
  219. 138Accounting periods.
  220. 139Surrenders of advance corporation tax.
  221. Chargeable gains
  222. 140Transfer of company’s assets to investment trust.
  223. 141Roll-over relief.
  224. 142Premiums for leases.
  225. Chapter VI: Miscellaneous provisions
  226. Reliefs
  227. 143Annual payments under certain insurance policies. Repealed
  228. 144Vocational training.
  229. 145Personal reliefs for non-resident EEA nationals. Repealed
  230. 146Exemptions for charities. Repealed
  231. 147Withdrawal of relief for Class 4 contributions.
  232. 148Mis-sold personal pensions etc.
  233. 149Annual payments in residuary cases.
  234. 150Income tax exemption for periodical payments of damages and compensation for personal injury. Repealed
  235. Taxation of benefits
  236. 151Benefits under pilot schemes.
  237. 152Jobfinder’s grant. Repealed
  238. Investments
  239. 153Foreign income dividends. Repealed
  240. 154FOTRA securities.
  241. 155Directions for payment without deduction of tax. Repealed
  242. 156Paying and collecting agents etc. Repealed
  243. 157Stock lending fees.
  244. 158Transfers on death under the accrued income scheme. Repealed
  245. 159Manufactured payments, repos, etc.
  246. 160Investments in housing.
  247. 161Venture capital trusts: control of companies etc. Repealed
  248. Insurance policies
  249. 162Qualifying life insurance policies: certification.
  250. Insurance companies
  251. 163Life assurance business losses. Repealed
  252. 164Limits on relief for expenses.
  253. 165Annual payments under insurance policies: deductions.
  254. 166Equalisation reserves. Repealed
  255. 167Industrial assurance business.
  256. 168Capital redemption business.
  257. 169. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  258. 170Time for amending and enquiring into returns.
  259. Friendly societies
  260. 171Life or endowment business. Repealed
  261. Personal pension schemes
  262. 172Return of contributions on or after death of member. Repealed
  263. Participators in close companies
  264. 173Loans to participators etc.
  265. 174Attribution of gains to participators in non-resident companies.
  266. Cancellation of tax advantages
  267. 175Transactions in certain securities. Repealed
  268. Chargeable gains: reliefs
  269. 176Retirement relief: age limits.
  270. 177Reinvestment relief on disposal of qualifying corporate bond.
  271. Special cases
  272. 178Sub-contractors in the construction industry. Repealed
  273. 179. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  274. 180. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  275. 181Overseas petroleum.
  276. 182Controlled foreign companies.
  277. Part V: Inheritance tax
  278. 183Rate bands.
  279. 184Business property relief.
  280. 185Agricultural property relief.
  281. Part VI: Stamp Duty and Stamp Duty Reserve Tax
  282. Stamp duty
  283. 186Transfers of securities to members of electronic transfer systems etc.
  284. Stamp duty reserve tax
  285. 187Territorial scope of the tax.
  286. 188Removal of the two month period.
  287. 189Transfers to members of electronic transfer systems etc.
  288. 190Transfers between associated bodies.
  289. 191Stock lending and collateral security arrangements.
  290. 192Repayment or cancellation of tax.
  291. 193Depositary receipts.
  292. 194Rates of charge expressed as percentages.
  293. 195Regulations concerning administration: sub-delegation to the Board.
  294. Clearance services
  295. 196Election by operator for alternative system of charge.
  296. Part VII: Miscellaneous and supplemental
  297. Miscellaneous: indirect taxation
  298. 197Setting of rates of interest.
  299. Miscellaneous: direct taxation
  300. 198Banks.
  301. 199Quotation or listing of securities.
  302. 200Domicile for tax purposes of overseas electors. Repealed
  303. 201Enactment of Inland Revenue concessions.
  304. Miscellaneous: other matters
  305. 202Gilt stripping.
  306. 203Modification of the Agriculture Act 1993.
  307. Supplemental
  308. 204Interpretation.
  309. 205Repeals.
  310. 206Short title.
  311. Schedule 1Mixing of rebated oil
  312. Schedule 2: Vehicle licensing and registration
  313. 1Paragraph 1
  314. Vehicle licences
  315. 2Paragraph 2
  316. Trade licences
  317. 3Paragraph 3
  318. Registration regulations
  319. 4Paragraph 4
  320. 5Paragraph 5
  321. 6Paragraph 6
  322. 7Paragraph 7
  323. Surrender of licences: repayments
  324. 8Paragraph 8 Repealed
  325. Offences
  326. 9Paragraph 9
  327. 10Paragraph 10
  328. 11Paragraph 11
  329. Offences: information and admissions
  330. 12Paragraph 12
  331. 13Paragraph 13
  332. Proceedings in respect of offences
  333. 14Paragraph 14
  334. Compounding of offences
  335. 15Paragraph 15
  336. Regulations
  337. 16Paragraph 16
  338. Schedule 3: Value added tax: Fiscal and other warehousing
  339. 1Paragraph 1
  340. 2Paragraph 2
  341. 3Paragraph 3 Repealed
  342. 4Paragraph 4 Repealed
  343. 5Paragraph 5
  344. 6Paragraph 6 Repealed
  345. 7Paragraph 7 Repealed
  346. 8Paragraph 8
  347. 9Paragraph 9
  348. 10Paragraph 10
  349. 11Paragraph 11
  350. 12Paragraph 12
  351. 13Paragraph 13
  352. 14Paragraph 14 Repealed
  353. 15Paragraph 15 Repealed
  354. 16Paragraph 16
  355. 17Paragraph 17 Repealed
  356. 18Paragraph 18
  357. Schedule 4Value added tax: anti-avoidance provisions
  358. Schedule 5: Landfill Tax
  359. Part I: Information and samples
  360. Information: general
  361. 1Paragraph 1 Repealed
  362. Information: material at landfill sites
  363. 1AParagraph 1A
  364. Information: site restoration
  365. 1BParagraph 1B Repealed
  366. Site information
  367. 1CParagraph 1C
  368. Records: taxable persons
  369. 2Paragraph 2
  370. Records: material at landfill sites and other
  371. 2AParagraph 2A
  372. Information: qualifying fines
  373. 2BParagraph 2B
  374. Samples: qualifying fines
  375. 2CParagraph 2C
  376. Documents
  377. 3Paragraph 3 Repealed
  378. Part II: Powers
  379. Entry and inspection
  380. 4Paragraph 4 Repealed
  381. Entry and search
  382. 5Paragraph 5 Repealed
  383. Arrest
  384. 6Paragraph 6 Repealed
  385. Order for access to recorded information etc.
  386. 7Paragraph 7
  387. Removal of documents etc.
  388. 8Paragraph 8
  389. 9Paragraph 9
  390. Power to take samples
  391. 10Paragraph 10
  392. Part III: Recovery
  393. General
  394. 11Paragraph 11
  395. Preferential and preferred debts
  396. 12Paragraph 12
  397. Distress and diligence
  398. 13Paragraph 13 Repealed
  399. Recovery of overpaid tax
  400. 14Paragraph 14
  401. Part IV: Criminal Penalties
  402. Criminal offences
  403. 15Paragraph 15
  404. Criminal penalties
  405. 16Paragraph 16
  406. Criminal proceedings etc.
  407. 17Paragraph 17
  408. Part V: Civil Penalties
  409. Evasion
  410. 18Paragraph 18 Repealed
  411. 19Paragraph 19 Repealed
  412. Misdeclaration or neglect
  413. 20Paragraph 20 Repealed
  414. Registration
  415. 21Paragraph 21
  416. Information
  417. 22Paragraph 22
  418. Breach of regulations
  419. 23Paragraph 23
  420. Controlled Goods Agreements
  421. 23AParagraph 23A
  422. Walking possession agreements
  423. Mitigation of penalties
  424. 25Paragraph 25
  425. Part VI: Interest
  426. Interest on under-declared tax
  427. 26Paragraph 26
  428. Interest on unpaid tax etc.
  429. 27Paragraph 27
  430. 28Paragraph 28
  431. Interest payable by Commissioners
  432. 29Paragraph 29
  433. 30Paragraph 30
  434. Part VII: Miscellaneous
  435. Security for tax
  436. 31Paragraph 31
  437. Assessments to penalties etc.
  438. 32Paragraph 32
  439. Assessments: time limits
  440. 33Paragraph 33
  441. Supplementary assessments
  442. 34Paragraph 34
  443. Disclosure of information
  444. 35Paragraph 35
  445. Publication of information by Commissioners
  446. 36Paragraph 36
  447. Evidence by certificate etc.
  448. 37Paragraph 37
  449. Service of notices etc.
  450. 38Paragraph 38
  451. 39Paragraph 39
  452. No deduction of penalties or interest
  453. 40Paragraph 40
  454. Destination of receipts
  455. 41Paragraph 41 Repealed
  456. Set-off of amounts
  457. 42Paragraph 42
  458. 43Paragraph 43
  459. Amounts shown as tax on invoices
  460. 44Paragraph 44
  461. Adjustment of contracts
  462. 45Paragraph 45
  463. 46Paragraph 46
  464. Adjustment of rent etc.
  465. 47Paragraph 47
  466. Part VIII: Secondary liability: controllers of landfill sites
  467. Meaning of controller
  468. 48Paragraph 48
  469. Secondary liability
  470. 49Paragraph 49
  471. Operator entitled to credit
  472. 50Paragraph 50
  473. Payment of secondary liability
  474. 51Paragraph 51
  475. Assessments
  476. 52Paragraph 52
  477. Assessment withdrawn or reduced
  478. 53Paragraph 53
  479. Adjustments
  480. 54Paragraph 54
  481. Amounts payable to be treated as tax
  482. 55Paragraph 55
  483. Controller not carrying out taxable activity
  484. 56Paragraph 56
  485. Joint and several liability
  486. 57Paragraph 57
  487. Interest payable by a controller
  488. 58Paragraph 58
  489. Reviews and Appeals
  490. 59Paragraph 59
  491. Notice that person is, or is no longer, a controller
  492. 60Paragraph 60
  493. Extension of time limits where notice not served
  494. 61Paragraph 61
  495. Schedule 6: Taxation of savings at the lower rate
  496. The Taxes Management Act 1970 (c. 9)
  497. 1Paragraph 1 Repealed
  498. The Taxes Act 1988
  499. 2Paragraph 2 Repealed
  500. 3Paragraph 3 Repealed
  501. 4Paragraph 4
  502. 5Paragraph 5
  503. 6Paragraph 6 Repealed
  504. 7Paragraph 7 Repealed
  505. 8Paragraph 8 Repealed
  506. 9Paragraph 9 Repealed
  507. 10Paragraph 10
  508. 11Paragraph 11 Repealed
  509. 12Paragraph 12 Repealed
  510. 13Paragraph 13 Repealed
  511. 14Paragraph 14 Repealed
  512. 15Paragraph 15 Repealed
  513. 16Paragraph 16 Repealed
  514. 17Paragraph 17 Repealed
  515. 18Paragraph 18
  516. 19Paragraph 19
  517. 20Paragraph 20 Repealed
  518. 21Paragraph 21 Repealed
  519. 22Paragraph 22 Repealed
  520. 23Paragraph 23
  521. 24Paragraph 24 Repealed
  522. 25Paragraph 25 Repealed
  523. The Finance Act 1989 (c. 26)
  524. 26Paragraph 26 Repealed
  525. The Taxation of Chargeable Gains Act 1992 (c. 12)
  526. 27Paragraph 27
  527. Commencement of Schedule
  528. 28Paragraph 28
  529. Schedule 7: Transfer of charge under Schedule C to Schedule D
  530. Amendments of the Taxes Act 1988
  531. 1Paragraph 1
  532. 2Paragraph 2 Repealed
  533. 3Paragraph 3
  534. 4Paragraph 4
  535. 5Paragraph 5 Repealed
  536. 6Paragraph 6
  537. 7Paragraph 7
  538. 8Paragraph 8
  539. 9Paragraph 9
  540. 10Paragraph 10
  541. 11Paragraph 11
  542. 12Paragraph 12
  543. 13Paragraph 13
  544. 14Paragraph 14
  545. 15Paragraph 15 Repealed
  546. 16Paragraph 16
  547. 17Paragraph 17 Repealed
  548. 18Paragraph 18
  549. 19Paragraph 19 Repealed
  550. 20Paragraph 20 Repealed
  551. 21Paragraph 21
  552. 22Paragraph 22
  553. 23Paragraph 23 Repealed
  554. 24Paragraph 24 Repealed
  555. 25Paragraph 25
  556. 26Paragraph 26 Repealed
  557. 27Paragraph 27
  558. 28Paragraph 28 Repealed
  559. Other amendments
  560. 29Paragraph 29
  561. 30Paragraph 30
  562. 31Paragraph 31
  563. Commencement, etc.
  564. 32Paragraph 32
  565. Position of paying and collecting agents
  566. 33Paragraph 33
  567. Position of taxpayers
  568. 34Paragraph 34
  569. Times to which paragraphs 33 and 34 apply
  570. 35Paragraph 35
  571. Schedule 8: Loan relationships: claims etc relating to deficits Repealed
  572. Claim to set off deficit against other profits for the deficit period Repealed
  573. 1Paragraph 1 Repealed
  574. Claim to treat deficit as eligible for group relief Repealed
  575. 2Paragraph 2 Repealed
  576. Claim to carry back deficit to previous accounting periods Repealed
  577. 3Paragraph 3 Repealed
  578. Carry forward of deficit to succeeding accounting periods Repealed
  579. 4Paragraph 4 Repealed
  580. Construction of Schedule Repealed
  581. 5Paragraph 5 Repealed
  582. Schedule 9: Loan relationships: special computational provisions Repealed
  583. Distributions Repealed
  584. 1Paragraph 1 Repealed
  585. Insurance company liabilities Repealed
  586. 1AParagraph 1A Repealed
  587. Late interest Repealed
  588. 2Paragraph 2 Repealed
  589. Options et ceteralaetc. Repealed
  590. 3Paragraph 3 Repealed
  591. Foreign exchange gains and losses Repealed
  592. 4Paragraph 4 Repealed
  593. Deemed release of liability on impaired debt becoming held by connected company Repealed
  594. 4AParagraph 4A Repealed
  595. Release of liability under debtor relationship : cases in which credit need not be brought into account Repealed
  596. 5Paragraph 5 Repealed
  597. Release of liability under creditor relationship: application of provisions relating to impairment losses Repealed
  598. 5ZAParagraph 5ZA Repealed
  599. Impairment losses and consortium relief Repealed
  600. 5AParagraph 5A Repealed
  601. Impairment losses where parties have a connection Repealed
  602. 6Paragraph 6 Repealed
  603. Impairment losses : parties having connection and creditor in insolvent liquidation etc Repealed
  604. 6AParagraph 6A Repealed
  605. Impairment losses: companies becoming connected Repealed
  606. 6BParagraph 6B Repealed
  607. Impairment losses: cessation of connection Repealed
  608. 6CParagraph 6C Repealed
  609. Restriction on bringing into account debits resulting from revaluation Repealed
  610. 6DParagraph 6D Repealed
  611. Writing-off of government investments Repealed
  612. 7Paragraph 7 Repealed
  613. Restriction on writing off overseas sovereign debt et ceteralaetc. Repealed
  614. 8Paragraph 8 Repealed
  615. Further restriction on bringing into account losses on overseas sovereign debt et ceteralaetc. Repealed
  616. 9Paragraph 9 Repealed
  617. Imported losses et ceteralaetc. Repealed
  618. 10Paragraph 10 Repealed
  619. Deemed assignment of assets and liabilities on company ceasing to be resident in UKetc Repealed
  620. 10AParagraph 10A Repealed
  621. Transactions not at arm’s length Repealed
  622. 11Paragraph 11 Repealed
  623. Exchange gains and losses where loan not on arm’s length terms Repealed
  624. 11AParagraph 11A Repealed
  625. Disposals for consideration not fully recognised by accounting practice Repealed
  626. 11BParagraph 11B Repealed
  627. Continuity of treatment: groups et ceteralaetc. Repealed
  628. 12Paragraph 12 Repealed
  629. Transferee leaving group after replacing transferor as party to loan relationship Repealed
  630. 12AParagraph 12A Repealed
  631. European cross-border merger Repealed
  632. 12BParagraph 12B Repealed
  633. 12CParagraph 12C Repealed
  634. Cross-border transfer of business within European Community Repealed
  635. 12DParagraph 12D Repealed
  636. 12EParagraph 12E Repealed
  637. 12FParagraph 12F Repealed
  638. Exchanges, &c.: treatment of loan relationships Repealed
  639. 12GParagraph 12G Repealed
  640. Transparent entities Repealed
  641. 12HParagraph 12H Repealed
  642. 12IParagraph 12I Repealed
  643. 12JParagraph 12J Repealed
  644. Loan relationships for unallowable purposes Repealed
  645. 13Paragraph 13 Repealed
  646. Debits and credits treated as relating to capital expenditure Repealed
  647. 14Paragraph 14 Repealed
  648. Debits and credits recognised in equity or shareholders' funds Repealed
  649. 14AParagraph 14A Repealed
  650. Repo and stock-lending transactions and other transactions where a company ceases to be party to a loan relationship Repealed
  651. 15Paragraph 15 Repealed
  652. Amounts imputed under Schedule 28AA to the Taxes Act 1988 Repealed
  653. 16Paragraph 16 Repealed
  654. Deeply discounted securities where companies have a connection Repealed
  655. 17Paragraph 17 Repealed
  656. Deeply discounted securities of close companies Repealed
  657. 18Paragraph 18 Repealed
  658. Partnerships involving companies Repealed
  659. 19Paragraph 19 Repealed
  660. Adjustment on change of accounting policy Repealed
  661. 19AParagraph 19A Repealed
  662. Power to make further provision by regulations Repealed
  663. 19BParagraph 19B Repealed
  664. Interpretation of references to major interests Repealed
  665. 20Paragraph 20 Repealed
  666. Schedule 10: Loan relationships: collective investment schemes Repealed
  667. Investment trusts: capital profits, gains or losses Repealed
  668. 1Paragraph 1 Repealed
  669. 1AParagraph 1A Repealed
  670. Venture capital trusts: capital profits, gains or losses Repealed
  671. 1BParagraph 1B Repealed
  672. Authorised unit trusts : capital profits, gains or losses Repealed
  673. 2Paragraph 2 Repealed
  674. 2AParagraph 2A Repealed
  675. Open-ended investment companies : capital profits, gains or losses Repealed
  676. 2BParagraph 2B Repealed
  677. Distributing offshore funds Repealed
  678. 3Paragraph 3 Repealed
  679. Company holdings in unit trusts and offshore funds Repealed
  680. 4Paragraph 4 Repealed
  681. Holding becoming or ceasing to be paragraph 4 holding Repealed
  682. 5Paragraph 5 Repealed
  683. Opening valuation of paragraph 4 holding Repealed
  684. 6Paragraph 6 Repealed
  685. Meaning of offshore funds Repealed
  686. 7Paragraph 7 Repealed
  687. Non-qualifying investments test Repealed
  688. 8Paragraph 8 Repealed
  689. Powers to make orders Repealed
  690. 9Paragraph 9 Repealed
  691. Schedule 11: Loan relationships: special provisions for insurers Repealed
  692. Part I: Insurance companies Repealed
  693. I minus E basis Repealed
  694. 1Paragraph 1 Repealed
  695. Rules for different categories of business Repealed
  696. 2Paragraph 2 Repealed
  697. Apportionments Repealed
  698. 3Paragraph 3 Repealed
  699. 3AParagraph 3A Repealed
  700. Treatment of deficit Repealed
  701. 4Paragraph 4 Repealed
  702. Election for accruals basis for long term business assets Repealed
  703. 5Paragraph 5 Repealed
  704. Interpretation of Part I Repealed
  705. 6Paragraph 6 Repealed
  706. Part II: Corporate members of Lloyd’s Repealed
  707. 7Paragraph 7 Repealed
  708. Schedule 12Schedule 12
  709. Schedule 13: Discounted securities: income tax provisions Repealed
  710. Charge to tax on realised profit comprised in discount Repealed
  711. 1Paragraph 1 Repealed
  712. Realised losses on discounted securities Repealed
  713. 2Paragraph 2 Repealed
  714. Meaning of “relevant discounted security” Repealed
  715. 3Paragraph 3 Repealed
  716. Issue price etc of securities issued in accordance with qualifying earn-out right Repealed
  717. 3AParagraph 3A Repealed
  718. Meaning of “transfer” Repealed
  719. 4Paragraph 4 Repealed
  720. Redemption to include conversion Repealed
  721. 5Paragraph 5 Repealed
  722. Trustees and personal representatives Repealed
  723. 6Paragraph 6 Repealed
  724. Treatment of losses where income exempt Repealed
  725. 7Paragraph 7 Repealed
  726. Transfers between connected persons Repealed
  727. 8Paragraph 8 Repealed
  728. Other transactions deemed to be at market value Repealed
  729. 9Paragraph 9 Repealed
  730. Securities issued to connected person etc at price in excess of market value: transfer to connected person Repealed
  731. 9AParagraph 9A Repealed
  732. Issue of securities in separate tranches Repealed
  733. 10Paragraph 10 Repealed
  734. Accrued income scheme Repealed
  735. 11Paragraph 11 Repealed
  736. Assets transferred abroad Repealed
  737. 12Paragraph 12 Repealed
  738. Excluded indexed securities Repealed
  739. 13Paragraph 13 Repealed
  740. Meaning of corporate strip and conversion into corporate strips Repealed
  741. 13AParagraph 13A Repealed
  742. Corporate strips deemed to be relevant discounted securities Repealed
  743. 13BParagraph 13B Repealed
  744. Corporate strips: manipulation of acquisition, sale or redemption price Repealed
  745. 13CParagraph 13C Repealed
  746. Corporate strips: manipulation of price: associated payment giving rise to CGT loss Repealed
  747. 13DParagraph 13D Repealed
  748. Strips of government securities Repealed
  749. 14Paragraph 14 Repealed
  750. Strips of government securities: losses Repealed
  751. 14AParagraph 14A Repealed
  752. Strips of government securities: manipulation of acquisition, sale or redemption price Repealed
  753. 14BParagraph 14B Repealed
  754. Strips: manipulation of price: associated payment giving rise to capital gains tax loss Repealed
  755. 14CParagraph 14C Repealed
  756. Restriction of profits and losses on strips by reference to original acquisition cost Repealed
  757. 14DParagraph 14D Repealed
  758. Market value of strips etc for the purposes of paragraphs 8, 9, 14 and 14B Repealed
  759. 14EParagraph 14E Repealed
  760. General interpretation Repealed
  761. 15Paragraph 15 Repealed
  762. Application of Schedule for income tax purposes only Repealed
  763. 16Paragraph 16 Repealed
  764. Schedule 14: Loan relationships: minor and consequential amendments
  765. The Taxes Management Act 1970 (c. 9)
  766. 1Paragraph 1
  767. The Inheritance Tax Act 1984 (c. 51)
  768. 2Paragraph 2
  769. The Airports Act 1986 (c. 31)
  770. 3Paragraph 3
  771. The Gas Act 1986 (c. 44)
  772. 4Paragraph 4
  773. The Taxes Act 1988
  774. 5Paragraph 5
  775. 6Paragraph 6
  776. 7Paragraph 7
  777. 8Paragraph 8 Repealed
  778. 9Paragraph 9 Repealed
  779. 10Paragraph 10
  780. 11Paragraph 11 Repealed
  781. 12Paragraph 12
  782. 13Paragraph 13 Repealed
  783. 14Paragraph 14
  784. 15Paragraph 15
  785. 16Paragraph 16 Repealed
  786. 17Paragraph 17
  787. 18Paragraph 18 Repealed
  788. 19Paragraph 19 Repealed
  789. 20Paragraph 20
  790. 21Paragraph 21 Repealed
  791. 22Paragraph 22 Repealed
  792. 23Paragraph 23 Repealed
  793. 24Paragraph 24
  794. 25Paragraph 25 Repealed
  795. 26Paragraph 26 Repealed
  796. 27Paragraph 27 Repealed
  797. 28Paragraph 28
  798. 29Paragraph 29
  799. 30Paragraph 30
  800. 31Paragraph 31
  801. 32Paragraph 32
  802. 33Paragraph 33 Repealed
  803. 34Paragraph 34
  804. 35Paragraph 35 Repealed
  805. 36Paragraph 36 Repealed
  806. 37Paragraph 37 Repealed
  807. 38Paragraph 38
  808. 39Paragraph 39 Repealed
  809. 40Paragraph 40 Repealed
  810. 41Paragraph 41 Repealed
  811. 42Paragraph 42 Repealed
  812. 43Paragraph 43 Repealed
  813. 44Paragraph 44 Repealed
  814. 45Paragraph 45 Repealed
  815. 46Paragraph 46 Repealed
  816. 47Paragraph 47 Repealed
  817. 48Paragraph 48
  818. 49Paragraph 49
  819. 50Paragraph 50
  820. 51Paragraph 51
  821. 52Paragraph 52 Repealed
  822. 53Paragraph 53
  823. 54Paragraph 54 Repealed
  824. The British Steel Act 1988 (c. 35)
  825. 55Paragraph 55
  826. The Finance Act 1989 (c. 26)
  827. 56Paragraph 56 Repealed
  828. 57Paragraph 57
  829. The Finance Act 1990 (c. 29)
  830. 58Paragraph 58
  831. The Taxation of Chargeable Gains Act 1992 (c. 12)
  832. 59Paragraph 59
  833. 60Paragraph 60
  834. 61Paragraph 61
  835. 62Paragraph 62
  836. 63Paragraph 63 Repealed
  837. 64Paragraph 64
  838. 65Paragraph 65
  839. 66Paragraph 66
  840. The Finance Act 1993 (c. 34)
  841. 67Paragraph 67 Repealed
  842. 68Paragraph 68 Repealed
  843. 69Paragraph 69 Repealed
  844. 70Paragraph 70 Repealed
  845. 71Paragraph 71 Repealed
  846. 72Paragraph 72 Repealed
  847. 73Paragraph 73 Repealed
  848. 74Paragraph 74 Repealed
  849. The Finance Act 1994 (c. 9)
  850. 75Paragraph 75 Repealed
  851. 76Paragraph 76 Repealed
  852. 77Paragraph 77 Repealed
  853. 78Paragraph 78 Repealed
  854. 79Paragraph 79 Repealed
  855. Schedule 15: Loan relationships: savings and transitional provisions
  856. Part I: Corporation tax
  857. Application and interpretation of Part I
  858. 1Paragraph 1
  859. Loan relationships terminated before 1st April 1996
  860. 2Paragraph 2 Repealed
  861. Basic rules for transitional accounting periods
  862. 3Paragraph 3 Repealed
  863. Adjustment of opening value where new accounting basis adopted as from an accounting period beginning on 1st April 1996
  864. 3AParagraph 3A Repealed
  865. Application of accruals basis to pre-commencement relationships
  866. 4Paragraph 4 Repealed
  867. Adjustments in respect of pre-commencement trading relationships
  868. 5Paragraph 5
  869. Method of giving effect to paragraph 5 adjustments
  870. 6Paragraph 6
  871. General savings for the taxation of chargeable gains
  872. 7Paragraph 7
  873. Transitional provision for chargeable assets held after commencement
  874. 8Paragraph 8
  875. Election for alternative treatment of amounts specified in paragraph 8
  876. 9Paragraph 9
  877. Adjustments of opening value for mark to market accounting in the case of chargeable assets
  878. 10Paragraph 10 Repealed
  879. Other adjustments in the case of chargeable assets etc.
  880. 11Paragraph 11
  881. Reduction of paragraph 11 credit where s.251(4) of 1992 Act prevents paragraph 8 loss
  882. 11AParagraph 11A
  883. Notional closing values of relevant assets
  884. 12Paragraph 12
  885. Further transitional rules for interest under loan relationships
  886. 13Paragraph 13 Repealed
  887. Transitional in respect of incidental expenses already allowed
  888. 14Paragraph 14 Repealed
  889. Holdings of unit trusts etc.
  890. 15Paragraph 15 Repealed
  891. Bad debt relieved before commencement
  892. 16Paragraph 16
  893. Transitional for overseas sovereign debt etc.
  894. 17Paragraph 17
  895. Transitional for accrued income scheme
  896. 18Paragraph 18 Repealed
  897. Deep discount securities
  898. 19Paragraph 19
  899. Deep gain securities
  900. 20Paragraph 20
  901. Convertible securities
  902. 21Paragraph 21
  903. Transitional and savings for Chapter II of Part II of the Finance Act 1993
  904. 22Paragraph 22 Repealed
  905. Carrying back non-trading losses against exchange profits etc.
  906. 23Paragraph 23 Repealed
  907. Exchange losses etc. carried forward from before 1st April 1996
  908. 24Paragraph 24 Repealed
  909. Transitional for debt contracts and options to which Chapter II of Part IV of the Finance Act 1994 is applied
  910. 25Paragraph 25 Repealed
  911. Part II: Income tax and capital gains tax
  912. Application and interpretation of Part II
  913. 26Paragraph 26
  914. Qualifying indexed securities
  915. 27Paragraph 27
  916. 28Paragraph 28
  917. 29Paragraph 29
  918. Transitional in relation to qualifying corporate bonds
  919. 30Paragraph 30
  920. Schedule 16: Share option schemes approved before passing of this Act Repealed
  921. Preliminary Repealed
  922. 1Paragraph 1 Repealed
  923. Limit on aggregate value of options Repealed
  924. 2Paragraph 2 Repealed
  925. Price at which scheme shares may be obtained Repealed
  926. 3Paragraph 3 Repealed
  927. Approval of the Board to alterations Repealed
  928. 4Paragraph 4 Repealed
  929. Interpretation Repealed
  930. 5Paragraph 5 Repealed
  931. Schedule 17Claims for relief involving two or more years
  932. Preliminary
  933. 1Paragraph 1
  934. Loss relief
  935. 2Paragraph 2
  936. Relief for fluctuating profits of farming etc.
  937. 3Paragraph 3
  938. Relief claimed by virtue of section 96(9)
  939. 4Paragraph 4
  940. Carry-back of post-cessation etc. receipts
  941. 5Paragraph 5
  942. Backward spreading of certain payments
  943. 6Paragraph 6
  944. Schedule 18: Overdue tax and excessive payments by the Board
  945. The Taxes Management Act 1970
  946. 1Paragraph 1
  947. 2Paragraph 2
  948. 3Paragraph 3
  949. 4Paragraph 4
  950. The Taxes Act 1988
  951. 5Paragraph 5
  952. 6Paragraph 6
  953. 7Paragraph 7
  954. 8Paragraph 8
  955. 9Paragraph 9
  956. 10Paragraph 10 Repealed
  957. 11Paragraph 11
  958. The Finance Act 1989
  959. 12Paragraph 12
  960. 13Paragraph 13
  961. The Finance Act 1991
  962. 14Paragraph 14
  963. The Taxation of Chargeable Gains Act 1992
  964. 15Paragraph 15
  965. The Finance Act 1995
  966. 16Paragraph 16
  967. Commencement
  968. 17Paragraph 17
  969. Schedule 19: Self-assessment: claims and enquiries
  970. Introductory
  971. 1Paragraph 1
  972. Matters subject to enquiry
  973. 2Paragraph 2
  974. Power to call for documents
  975. 3Paragraph 3 Repealed
  976. Further amendments of section 28A
  977. 4Paragraph 4 Repealed
  978. Further amendments of section 28B
  979. 5Paragraph 5 Repealed
  980. Right of appeal against notice disallowing claim in return
  981. 6Paragraph 6 Repealed
  982. 7Paragraph 7
  983. Claims not included in returns
  984. 8Paragraph 8
  985. 9Paragraph 9 Repealed
  986. Right of appeal against notice disallowing claim not in return
  987. 10Paragraph 10
  988. Schedule 20: Self-assessment: discretions exercisable by the Board etc.
  989. The Taxes Act 1988
  990. 1Paragraph 1
  991. 2Paragraph 2 Repealed
  992. 3Paragraph 3 Repealed
  993. 4Paragraph 4
  994. 5Paragraph 5 Repealed
  995. 6Paragraph 6 Repealed
  996. 7Paragraph 7 Repealed
  997. 8Paragraph 8 Repealed
  998. 9Paragraph 9 Repealed
  999. 10Paragraph 10 Repealed
  1000. 11Paragraph 11
  1001. 12Paragraph 12 Repealed
  1002. 13Paragraph 13
  1003. 14Paragraph 14
  1004. 15Paragraph 15
  1005. 16Paragraph 16
  1006. 17Paragraph 17
  1007. 18Paragraph 18
  1008. 19Paragraph 19
  1009. 20Paragraph 20
  1010. 21Paragraph 21
  1011. 22Paragraph 22 Repealed
  1012. 23Paragraph 23 Repealed
  1013. 24Paragraph 24
  1014. 25Paragraph 25
  1015. 26Paragraph 26 Repealed
  1016. 27Paragraph 27 Repealed
  1017. 28Paragraph 28 Repealed
  1018. 29Paragraph 29 Repealed
  1019. 30Paragraph 30
  1020. 31Paragraph 31
  1021. 32Paragraph 32
  1022. 33Paragraph 33 Repealed
  1023. 34Paragraph 34 Repealed
  1024. 35Paragraph 35 Repealed
  1025. 36Paragraph 36 Repealed
  1026. 37Paragraph 37 Repealed
  1027. 38Paragraph 38 Repealed
  1028. 39Paragraph 39 Repealed
  1029. 40Paragraph 40 Repealed
  1030. 41Paragraph 41 Repealed
  1031. 42Paragraph 42 Repealed
  1032. 43Paragraph 43
  1033. The Capital Allowances Act 1990
  1034. 44Paragraph 44 Repealed
  1035. The Taxation of Chargeable Gains Act 1992
  1036. 45Paragraph 45
  1037. 46Paragraph 46
  1038. 47Paragraph 47
  1039. 48Paragraph 48
  1040. 49Paragraph 49
  1041. 50Paragraph 50
  1042. 51Paragraph 51
  1043. 52Paragraph 52
  1044. 53Paragraph 53
  1045. 54Paragraph 54
  1046. 55Paragraph 55
  1047. 56Paragraph 56
  1048. 57Paragraph 57
  1049. 58Paragraph 58
  1050. 59Paragraph 59
  1051. 60Paragraph 60
  1052. 61Paragraph 61
  1053. 62Paragraph 62 Repealed
  1054. 63Paragraph 63
  1055. 64Paragraph 64
  1056. 65Paragraph 65
  1057. 66Paragraph 66
  1058. 67Paragraph 67
  1059. The Finance Act 1993
  1060. 68Paragraph 68 Repealed
  1061. 69Paragraph 69 Repealed
  1062. 70Paragraph 70 Repealed
  1063. The Finance Act 1994
  1064. 71Paragraph 71 Repealed
  1065. Schedule 21: Self-assessment: time limits
  1066. The Taxes Act 1988
  1067. 1Paragraph 1 Repealed
  1068. 2Paragraph 2 Repealed
  1069. 3Paragraph 3 Repealed
  1070. 4Paragraph 4 Repealed
  1071. 5Paragraph 5 Repealed
  1072. 6Paragraph 6 Repealed
  1073. 7Paragraph 7 Repealed
  1074. 8Paragraph 8
  1075. 9Paragraph 9
  1076. 10Paragraph 10 Repealed
  1077. 11Paragraph 11 Repealed
  1078. 12Paragraph 12
  1079. 13Paragraph 13
  1080. 14Paragraph 14
  1081. 15Paragraph 15 Repealed
  1082. 16Paragraph 16 Repealed
  1083. 17Paragraph 17 Repealed
  1084. 18Paragraph 18 Repealed
  1085. 19Paragraph 19 Repealed
  1086. 20Paragraph 20 Repealed
  1087. 21Paragraph 21 Repealed
  1088. 22Paragraph 22 Repealed
  1089. 23Paragraph 23 Repealed
  1090. 24Paragraph 24
  1091. The Finance Act 1988 (c. 39)
  1092. 25Paragraph 25
  1093. The Capital Allowances Act 1990 (c. 1)
  1094. 26Paragraph 26 Repealed
  1095. 27Paragraph 27 Repealed
  1096. 28Paragraph 28 Repealed
  1097. 29Paragraph 29 Repealed
  1098. 30Paragraph 30 Repealed
  1099. 31Paragraph 31 Repealed
  1100. 32Paragraph 32 Repealed
  1101. 33Paragraph 33 Repealed
  1102. 34Paragraph 34 Repealed
  1103. The Taxation of Chargeable Gains Act 1992 (c. 12)
  1104. 35Paragraph 35
  1105. 36Paragraph 36
  1106. 37Paragraph 37
  1107. 38Paragraph 38
  1108. 39Paragraph 39
  1109. 40Paragraph 40
  1110. 41Paragraph 41
  1111. 42Paragraph 42
  1112. 43Paragraph 43 Repealed
  1113. 44Paragraph 44
  1114. The Finance (No. 2) Act 1992 (c. 48)
  1115. 45Paragraph 45 Repealed
  1116. 46Paragraph 46 Repealed
  1117. 47Paragraph 47 Repealed
  1118. The Finance Act 1994 (c. 9)
  1119. 48Paragraph 48 Repealed
  1120. Schedule 22: Self-assessment: appeals
  1121. The Taxes Management Act 1970
  1122. 1Paragraph 1
  1123. 2Paragraph 2 Repealed
  1124. 3Paragraph 3 Repealed
  1125. 4Paragraph 4 Repealed
  1126. 5Paragraph 5
  1127. 6Paragraph 6
  1128. 7Paragraph 7
  1129. 8Paragraph 8
  1130. 9Paragraph 9
  1131. 10Paragraph 10
  1132. Section 102 of the Taxes Act 1988
  1133. 11Paragraph 11
  1134. Commencement of Schedule
  1135. 12Paragraph 12
  1136. Schedule 23: Self-assessment: Schedules 13 and 16 to the Taxes Act 1988 Repealed
  1137. Part I: Schedule 13 to the Taxes Act 1988 Repealed
  1138. 1Paragraph 1 Repealed
  1139. 2Paragraph 2 Repealed
  1140. 3Paragraph 3 Repealed
  1141. 4Paragraph 4 Repealed
  1142. 5Paragraph 5 Repealed
  1143. 6Paragraph 6 Repealed
  1144. 7Paragraph 7 Repealed
  1145. 8Paragraph 8 Repealed
  1146. 9Paragraph 9 Repealed
  1147. Part II: Schedule 16 to the Taxes Act 1988 Repealed
  1148. 10Paragraph 10 Repealed
  1149. 11Paragraph 11 Repealed
  1150. 12Paragraph 12 Repealed
  1151. 13Paragraph 13 Repealed
  1152. Schedule 24: Self-assessment: accounting periods etc.
  1153. Part I: Amendments of the Taxes Management Act 1970
  1154. Introductory
  1155. 1Paragraph 1
  1156. 2Paragraph 2
  1157. Power to enquire into return for wrong period, etc.
  1158. 3Paragraph 3
  1159. 4Paragraph 4
  1160. 5Paragraph 5 Repealed
  1161. Amendment of return for wrong period
  1162. 6Paragraph 6
  1163. Failure to deliver return: determinations
  1164. 7Paragraph 7
  1165. Commencement
  1166. 8Paragraph 8
  1167. Part II: Other amendments
  1168. General
  1169. 9Paragraph 9
  1170. Repeal of section 8A of the Taxes Act 1988
  1171. 10Paragraph 10
  1172. Determination of accounting date
  1173. 11Paragraph 11 Repealed
  1174. Companies in liquidation
  1175. 12Paragraph 12 Repealed
  1176. Construction of references to assessments
  1177. 13Paragraph 13
  1178. Schedule 25: Self-assessment: surrenders of advance corporation tax
  1179. Amendments of section 240 of the Taxes Act 1988
  1180. 1Paragraph 1
  1181. The new Schedule 13A to the Taxes Act 1988
  1182. 2Paragraph 2
  1183. 3Paragraph 3
  1184. Other amendments
  1185. 4Paragraph 4
  1186. 5Paragraph 5
  1187. Schedule 26Damages and compensation for personal injury Repealed
  1188. Schedule 27: Foreign income dividends
  1189. Companies that pay FIDs
  1190. 1Paragraph 1
  1191. Recipients of FIDs
  1192. 2Paragraph 2
  1193. Calculation of the distributable foreign profit and the notional foreign source ACT
  1194. 3Paragraph 3
  1195. International headquarters company
  1196. 4Paragraph 4
  1197. Life assurance business charged under Case I of Schedule D
  1198. 5Paragraph 5
  1199. Foreign income distributions to corporate unit holders
  1200. 6Paragraph 6
  1201. Schedule 28: FOTRA securities: consequential amendments
  1202. The Taxes Act 1988
  1203. 1Paragraph 1
  1204. 2Paragraph 2
  1205. 3Paragraph 3
  1206. 4Paragraph 4 Repealed
  1207. 5Paragraph 5 Repealed
  1208. 6Paragraph 6
  1209. The Inheritance Tax Act 1984 (c. 51)
  1210. 7Paragraph 7
  1211. 8Paragraph 8
  1212. Schedule 29: Paying and Collecting Agents etc.
  1213. Part I: The New Chapter
  1214. 1Paragraph 1
  1215. Part II: Other Provisions
  1216. Penalties
  1217. 2Paragraph 2
  1218. Amendments of the Taxes Act 1988
  1219. 3Paragraph 3
  1220. 4Paragraph 4
  1221. 5Paragraph 5
  1222. 6Paragraph 6
  1223. 7Paragraph 7
  1224. Amendment of the Finance Act 1989
  1225. 8Paragraph 8
  1226. Schedule 30: Investments in housing Repealed
  1227. Reduced rate of corporation tax Repealed
  1228. 1Paragraph 1 Repealed
  1229. Investments in housing by investment trusts Repealed
  1230. 2Paragraph 2 Repealed
  1231. Commencement Repealed
  1232. 3Paragraph 3 Repealed
  1233. Schedule 31: Life assurance business losses Repealed
  1234. Expenses of management Repealed
  1235. 1Paragraph 1 Repealed
  1236. Computation of losses and limitation on relief Repealed
  1237. 2Paragraph 2 Repealed
  1238. Spreading of relief for acquisition expenses Repealed
  1239. 3Paragraph 3 Repealed
  1240. Ascertainment of losses Repealed
  1241. 4Paragraph 4 Repealed
  1242. Application of surplus in reduction of certain losses Repealed
  1243. 5Paragraph 5 Repealed
  1244. Meaning of “brought into account” in sections 83AA and 83AB Repealed
  1245. 6Paragraph 6 Repealed
  1246. Enactments disapplying section 83(3) of the Finance Act 1989 Repealed
  1247. 7Paragraph 7 Repealed
  1248. Overseas life insurance companies Repealed
  1249. 8Paragraph 8 Repealed
  1250. Transitional provisions Repealed
  1251. 9Paragraph 9 Repealed
  1252. Commencement Repealed
  1253. 10Paragraph 10 Repealed
  1254. Schedule 32: Equalisation reserves
  1255. 1Paragraph 1 Repealed
  1256. 2Paragraph 2 Repealed
  1257. Schedule 33: Management expenses of capital redemption business Repealed
  1258. Amendment of section 76 of Taxes Act Repealed
  1259. 1Paragraph 1 Repealed
  1260. Treatment of capital redemption business Repealed
  1261. 2Paragraph 2 Repealed
  1262. Overseas life insurance companies Repealed
  1263. 3Paragraph 3 Repealed
  1264. Commencement Repealed
  1265. 4Paragraph 4 Repealed
  1266. Schedule 34: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  1267. Part I: Amendments of Schedule 19AB to the Taxes Act 1988
  1268. 1Paragraph 1
  1269. 2Paragraph 2
  1270. 3Paragraph 3
  1271. 4Paragraph 4
  1272. Part II: Amendments of Schedule 19AC to the Taxes Act 1988
  1273. 5Paragraph 5
  1274. Schedule 35: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  1275. Preliminary
  1276. 1Paragraph 1
  1277. Amendment of provisions relating to roll-over relief in respect of ships
  1278. 2Paragraph 2
  1279. 3Paragraph 3
  1280. 4Paragraph 4
  1281. 5Paragraph 5
  1282. 6Paragraph 6
  1283. Commencement
  1284. 7Paragraph 7
  1285. Schedule 36: Controlled foreign companies
  1286. 1Paragraph 1 Repealed
  1287. 2Paragraph 2
  1288. 3Paragraph 3
  1289. 4Paragraph 4
  1290. Schedule 37: Banks
  1291. Part I: “Bank” re-defined for certain purposes
  1292. 1Paragraph 1
  1293. Part II: Amendments of the Taxes Act 1988
  1294. Provisions in which new meaning of “bank” applies
  1295. 2Paragraph 2
  1296. Related amendments
  1297. 3Paragraph 3 Repealed
  1298. 4Paragraph 4 Repealed
  1299. 5Paragraph 5 Repealed
  1300. Application
  1301. 6Paragraph 6
  1302. 7Paragraph 7 Repealed
  1303. 8Paragraph 8 Repealed
  1304. 9Paragraph 9 Repealed
  1305. 10Paragraph 10
  1306. Part III: Other amendments
  1307. Amendments of the Management Act
  1308. 11Paragraph 11
  1309. Amendments of the Inheritance Tax Act 1984
  1310. 12Paragraph 12
  1311. Schedule 38: Quotation or listing of securities
  1312. The Finance Act 1973
  1313. 1Paragraph 1 Repealed
  1314. The Inheritance Tax Act 1984
  1315. 2Paragraph 2
  1316. 3Paragraph 3
  1317. 4Paragraph 4
  1318. 5Paragraph 5
  1319. The Taxes Act 1988
  1320. 6Paragraph 6
  1321. 7Paragraph 7 Repealed
  1322. 8Paragraph 8 Repealed
  1323. 9Paragraph 9 Repealed
  1324. The Taxation of Chargeable Gains Act 1992
  1325. 10Paragraph 10
  1326. 11Paragraph 11
  1327. 12Paragraph 12
  1328. Schedule 39: Enactment of Certain Inland Revenue Extra-Statutory Concessions
  1329. Part I: Income Tax and Corporation Tax
  1330. Capital Allowances
  1331. 1Paragraph 1
  1332. Contributions to overseas pension schemes
  1333. 2Paragraph 2 Repealed
  1334. Part II: Chargeable Gains
  1335. Treatment of compensation and insurance money
  1336. 3Paragraph 3
  1337. Assets of negligible value
  1338. 4Paragraph 4
  1339. Settled Property
  1340. 5Paragraph 5
  1341. 6Paragraph 6
  1342. Retirement Relief
  1343. 7Paragraph 7
  1344. Relief for loans to traders
  1345. 8Paragraph 8
  1346. Relief for debts on qualifying corporate bonds
  1347. 9Paragraph 9
  1348. Part III: Stamp Duty
  1349. Lost or spoiled instruments
  1350. 10Paragraph 10
  1351. Schedule 40: Gilt stripping: taxation provisions
  1352. The Stamp Act 1891 (c. 39)
  1353. 1Paragraph 1
  1354. 2Paragraph 2
  1355. The Taxes Act 1988
  1356. 3Paragraph 3 Repealed
  1357. 4Paragraph 4 Repealed
  1358. 5Paragraph 5 Repealed
  1359. 6Paragraph 6 Repealed
  1360. 7Paragraph 7 Repealed
  1361. The Taxation of Chargeable Gains Act 1992 (c. 12)
  1362. 8Paragraph 8
  1363. Schedule 41: Repeals
  1364. IHydrocarbon Oil Duty: relief for marine voyages
  1365. IIVehicle Excise and Registration
  1366. IIIExcise duties: repeal of drawbacks etc.
  1367. IVValue Added Tax
  1368. VIncome Tax, Corporation Tax and Capital Gains Tax
  1369. Paragraph
  1370. Paragraph
  1371. Paragraph
  1372. VIInheritance Tax
  1373. 1Paragraph 1
  1374. 2Paragraph 2
  1375. VIIStamp duty and stamp duty reserve tax
  1376. 1Paragraph 1
  1377. 2Paragraph 2
  1378. 3Paragraph 3
  1379. 4Paragraph 4
  1380. VIIIMiscellaneous