{
  "url": "https://openlegislation.uk/finance-act-1996/schedule-41/paragraph-wrapper1",
  "json_url": "https://openlegislation.uk/finance-act-1996/schedule-41/paragraph-wrapper1.json",
  "legislation": "ukpga/1996/8",
  "legislation_title": "Finance Act 1996",
  "legislation_url": "https://openlegislation.uk/finance-act-1996",
  "path": "schedule/41/paragraph/wrapper1",
  "kind": "paragraph",
  "number": null,
  "heading": null,
  "text": "(2) Transfer of Schedule C charge etc.\nChapter\nShort title\nExtent of repeal\n1970 c. 9.\nThe Taxes Management Act 1970.\nIn the Table in section 98—\n(a) in the first column, the entry relating to paragraph 13(1) of Schedule 3 to the Taxes Act 1988; and\n(b) in the second column, the entry relating to paragraph 6C of that Schedule.\n1988 c. 1.\nThe Income and Corporation Taxes Act 1988.\nSection 17.\nIn section 18(3), in Case IV, the words “except such income as is charged under Schedule C”.\nSections 44 and 45.\nSection 48.\nIn sections 50(1) and 51A(1), the words “but shall be chargeable to tax under Case III of Schedule D”.\nSection 52.\nSection 123.\nIn section 124—\n(a) in subsection (6), the definitions of “recognised clearing system” and “relevant foreign securities”, and the word “and” immediately preceding those definitions; and\n(b) subsection (7).\nIn section 322(1), the words “and he shall be treated as not resident in the United Kingdom for the purposes of sections 48 and 123(4)”.\nIn section 398(b), the words “C or”.\nSection 474(1) and (3).\nSection 505(1)(c)(i).\nSection 582A(3).\nIn section 832(1), the definition of “recognised clearing system”.\nSchedule 3.\n1988 c. 39.\nThe Finance Act 1988.\nSection 76(1), (2), (3) and (5).\n1989 c. 26.\nThe Finance Act 1989.\nIn section 178(2)(m), the words “and paragraph 6B of Schedule 3 to”.\n1992 c. 48.\nThe Finance (No. 2) Act 1992.\nSection 30.\nIn Schedule 11, paragraphs 1, 2, 4 and 5.\n1993 c. 34.\nThe Finance Act 1993.\nIn Schedule 6, paragraphs 17 and 25(5).\n1995 c. 4.\nThe Finance Act 1995.\nIn section 128(3)(a), the words “Schedule C”.\nThese repeals have effect—\n(a) in accordance with Schedule 7 to this Act; and\n(b) without prejudice to paragraph 25 of Schedule 6 to this Act.\n(3) Loan relationships\nChapter\nShort title\nExtent of repeal\n1970 c. 9.\nThe Taxes Management Act 1970.\nIn section 42 (as substituted by paragraph 13 of Schedule 19 to the Finance Act 1994), in subsection (7)(a), “484,”.\n1988 c. 1.\nThe Income and Corporation Taxes Act 1988.\nSection 57.\nSection 78.\nSections 88A to 88C.\nSections 126 and 126A.\nIn section 242, in each of subsections (2)(b) and (8)(b), the words “or paragraph 5 of Schedule 4”.\nIn section 337—\n(a) in subsection (2), the words “to subsection (3) below and”; and\n(b) subsection (3).\nIn section 338—\n(a) in subsection (3), the words from “and” at the end of paragraph (a) to the end of the subsection;\n(b) in subsection (4), paragraphs (b) and (c);\n(c) in subsection (5)(a), the words “, not being interest”; and\n(d) subsection (6).\nSection 338A.\nSection 340.\nSection 341.\nSection 401(1A).\nIn section 404(6)(c)(ii), the words “or paragraph 5(2) of Schedule 4”.\nIn section 477A, subsections (3A) to (3C).\nSections 484 and 485.\nIn section 494(3), the words “not consisting of a payment of interest”.\nSection 714(6).\nSection 724.\nIn section 804A(3), in paragraph (b) of the definition of “B”, the words “and interest”.\nSchedule 4.\nIn Schedule 19AC, in paragraph 5B(2)(b), the words “or paragraph 5 of Schedule 4”.\nIn Schedule 23A, paragraphs 6(3), (4), (6) and (7).\nIn Schedule 26, the word “and” at the end of paragraph 1(3)(d).\n1989 c. 15.\nThe Water Act 1989.\nSection 95(10).\n1989 c. 26.\nThe Finance Act 1989.\nSections 93 to 95.\nSection 116.\nSchedules 10 and 11.\n1990 c. 29.\nThe Finance Act 1990.\nSection 56.\nSections 58 and 59.\nSection 74.\nSchedule 10.\n1991 c. 31.\nThe Finance Act 1991.\nSection 52(2) and (3).\nIn Schedule 12, paragraphs 3 and 4.\n1992 c. 12.\nThe Taxation of Chargeable Gains Act 1992.\nSection 108(1)(b).\nSection 117(2A), (3), (9) and (10).\nSection 118.\nIn Schedule 10, paragraphs 14(6), (29) and (57), 19(6) and 22(4).\n1992 c. 48.\nThe Finance (No. 2) Act 1992.\nSection 33.\nIn section 65(2)—\n(a) paragraphs (b) and (c); and\n(b) in paragraph (f), the words “to (c)”.\nSchedule 7.\n1993 c. 34.\nThe Finance Act 1993.\nSections 61 to 66.\nSection 103(4).\nSection 129(5) and (6).\nSection 152(2).\nSection 153(6) and (11A).\nSection 164(12).\nSection 176(3)(b) to (d).\nIn Schedule 6—\n(a) paragraph 18;\n(b) in paragraph 20, the words “and in paragraph 11(1) of Schedule 11 to that Act”; and\n(c) paragraph 21.\nIn Schedule 17, paragraphs 4 to 6.\nIn Schedule 18, paragraphs 3 and 7.\n1994 c. 9.\nThe Finance Act 1994.\nSection 171.\nSection 251(12).\nIn Schedule 18, in paragraph 4—\n(a) the definition of “the I minus E basis”; and\n(b) the words after the definition of “non-life mutual business”.\nIn Schedule 24, in paragraph 9—\n(a) the words “and 254” and the words “or 254”, in each place where they occur; and\n(b) in sub-paragraph (9), the words “and subsection (10) of section 254 of that Act”.\n1995 c. 4.\nThe Finance Act 1995.\nSection 42(6).\nSection 50.\nSection 87(6).\nSections 88 and 89.\nSchedule 7.\nIn Schedule 8, paragraphs 10 and 12(1)(c).\nIn Schedule 24, paragraphs 4 to 6.\nThese repeals come into force in accordance with the provisions of Chapter II of Part IV of this Act.\n(4) Provision of living accommodation\nChapter\nShort title\nExtent of repeal\n1988 c. 1.\nThe Income and Corporation Taxes Act 1988.\nIn section 145(1), the words “and is not otherwise made the subject of any charge to him by way of income tax”.\nThis repeal has effect in accordance with section 106 of this Act.\n(5) Share option schemes etc.\nChapter\nShort title\nExtent of repeal\n1988 c. 1.\nThe Income and Corporation Taxes Act 1988.\nIn section 187(8), paragraph (b) and the word “and” immediately preceding it.\nIn Schedule 9, in paragraph 21(1), the word “and” immediately preceding paragraph (e), paragraph 28(2) and (4) and paragraph 29(8).\n1989 c. 26.\nThe Finance Act 1989.\nIn Schedule 5, in paragraph 4(5)(a), the words “not less than one year and”.\n1992 c. 12.\nThe Taxation of Chargeable Gains Act 1992.\nSection 149A(4).\nSection 238(4).\n1. The repeal in section 187 of the Taxes Act 1988 has effect in accordance with section 117 of this Act.\n2. The repeal in paragraph 21 of Schedule 9 to that Act has effect in accordance with section 113 of this Act.\n3. The repeals in paragraphs 28 and 29 of that Schedule have effect in accordance with section 114 of this Act.\n4. The repeal in the Finance Act 1989 has effect in accordance with section 119 of this Act.\n5. The repeal of section 149A(4) of the Taxation of Chargeable Gains Act 1992 has effect in accordance with section 111(6) of this Act.\n6. The repeal of section 238(4) of that Act 1992 has effect in accordance with section 112(2) and (3) of this Act.\n(6) Self-assessment: returns etc.\nChapter\nShort title\nExtent of repeal\n1970 c. 9.\nThe Taxes Management Act 1970.\nIn section 8(1A), the words from “and the amounts referred to” to the end.\nIn section 8A(1A), the words from “and the amounts referred to” to the end.\nIn section 12AA(7)(a), the words “any part of”.\nSection 12AC(6).\nIn section 28C(3), the words “or 11AA”.\nIn section 42, subsections (3A) and (3B) and, in subsection (7)(a), the words “534, 535, 537A, 538”.\n1988 c. 1.\nThe Income and Corporation Taxes Act 1988.\nIn section 108, the words from “and, in any such case” to the end.\nIn section 535, in subsection (4), the words “Subject to subsection (5) below”, subsections (5) and (7) and, in subsection (6), the words from “unless the author” to the end.\nIn section 547(5)(a), the words from “no assessment” to “but”.\nIn section 599A, in subsection (6), the words from “subject” to “and” and subsection (7).\n1992 c. 12.\nThe Taxation of Chargeable Gains Act 1992.\nIn section 246, the words from “or, if earlier” to the end.\n1994 c. 9.\nThe Finance Act 1994.\nIn Schedule 19, paragraph 23.\n1.The repeals of subsections (3A) and (3B) of section 42 of the Taxes Management Act 1970 and the repeals in sections 108 and 535 of the Income and Corporation Taxes Act 1988 have effect in accordance with section 128(11) of this Act.\n2. The repeal in subsection (7)(a) of section 42 of the Taxes Management Act 1970 has effect in accordance with section 128(12) of this Act.\n3. The other repeals have effect in accordance with section 121(8) of this Act.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1996/8/schedule/41/paragraph/wrapper1",
    "retrieved_at": "2026-10-29T09:32:25.231034+00:00"
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  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}