OpenLegislation

Finance Act 1996 in Scotland

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. Mitigation of penalties
  423. 25Paragraph 25
  424. Part VI: Interest
  425. Interest on under-declared tax
  426. 26Paragraph 26
  427. Interest on unpaid tax etc.
  428. 27Paragraph 27
  429. 28Paragraph 28
  430. Interest payable by Commissioners
  431. 29Paragraph 29
  432. 30Paragraph 30
  433. Part VII: Miscellaneous
  434. Security for tax
  435. 31Paragraph 31
  436. Assessments to penalties etc.
  437. 32Paragraph 32
  438. Assessments: time limits
  439. 33Paragraph 33
  440. Supplementary assessments
  441. 34Paragraph 34
  442. Disclosure of information
  443. 35Paragraph 35
  444. Publication of information by Commissioners
  445. 36Paragraph 36
  446. Evidence by certificate etc.
  447. 37Paragraph 37
  448. Service of notices etc.
  449. 38Paragraph 38
  450. 39Paragraph 39
  451. No deduction of penalties or interest
  452. 40Paragraph 40
  453. Destination of receipts
  454. 41Paragraph 41 Repealed
  455. Set-off of amounts
  456. 42Paragraph 42
  457. 43Paragraph 43
  458. Amounts shown as tax on invoices
  459. 44Paragraph 44
  460. Adjustment of contracts
  461. 45Paragraph 45
  462. 46Paragraph 46
  463. Adjustment of rent etc.
  464. 47Paragraph 47
  465. Part VIII: Secondary liability: controllers of landfill sites
  466. Meaning of controller
  467. 48Paragraph 48
  468. Secondary liability
  469. 49Paragraph 49
  470. Operator entitled to credit
  471. 50Paragraph 50
  472. Payment of secondary liability
  473. 51Paragraph 51
  474. Assessments
  475. 52Paragraph 52
  476. Assessment withdrawn or reduced
  477. 53Paragraph 53
  478. Adjustments
  479. 54Paragraph 54
  480. Amounts payable to be treated as tax
  481. 55Paragraph 55
  482. Controller not carrying out taxable activity
  483. 56Paragraph 56
  484. Joint and several liability
  485. 57Paragraph 57
  486. Interest payable by a controller
  487. 58Paragraph 58
  488. Reviews and Appeals
  489. 59Paragraph 59
  490. Notice that person is, or is no longer, a controller
  491. 60Paragraph 60
  492. Extension of time limits where notice not served
  493. 61Paragraph 61
  494. Schedule 6: Taxation of savings at the lower rate
  495. The Taxes Management Act 1970 (c. 9)
  496. 1Paragraph 1 Repealed
  497. The Taxes Act 1988
  498. 2Paragraph 2 Repealed
  499. 3Paragraph 3 Repealed
  500. 4Paragraph 4
  501. 5Paragraph 5
  502. 6Paragraph 6 Repealed
  503. 7Paragraph 7 Repealed
  504. 8Paragraph 8 Repealed
  505. 9Paragraph 9 Repealed
  506. 10Paragraph 10
  507. 11Paragraph 11 Repealed
  508. 12Paragraph 12 Repealed
  509. 13Paragraph 13 Repealed
  510. 14Paragraph 14 Repealed
  511. 15Paragraph 15 Repealed
  512. 16Paragraph 16 Repealed
  513. 17Paragraph 17 Repealed
  514. 18Paragraph 18
  515. 19Paragraph 19
  516. 20Paragraph 20 Repealed
  517. 21Paragraph 21 Repealed
  518. 22Paragraph 22 Repealed
  519. 23Paragraph 23
  520. 24Paragraph 24 Repealed
  521. 25Paragraph 25 Repealed
  522. The Finance Act 1989 (c. 26)
  523. 26Paragraph 26 Repealed
  524. The Taxation of Chargeable Gains Act 1992 (c. 12)
  525. 27Paragraph 27
  526. Commencement of Schedule
  527. 28Paragraph 28
  528. Schedule 7: Transfer of charge under Schedule C to Schedule D
  529. Amendments of the Taxes Act 1988
  530. 1Paragraph 1
  531. 2Paragraph 2 Repealed
  532. 3Paragraph 3
  533. 4Paragraph 4
  534. 5Paragraph 5 Repealed
  535. 6Paragraph 6
  536. 7Paragraph 7
  537. 8Paragraph 8
  538. 9Paragraph 9
  539. 10Paragraph 10
  540. 11Paragraph 11
  541. 12Paragraph 12
  542. 13Paragraph 13
  543. 14Paragraph 14
  544. 15Paragraph 15 Repealed
  545. 16Paragraph 16
  546. 17Paragraph 17 Repealed
  547. 18Paragraph 18
  548. 19Paragraph 19 Repealed
  549. 20Paragraph 20 Repealed
  550. 21Paragraph 21
  551. 22Paragraph 22
  552. 23Paragraph 23 Repealed
  553. 24Paragraph 24 Repealed
  554. 25Paragraph 25
  555. 26Paragraph 26 Repealed
  556. 27Paragraph 27
  557. 28Paragraph 28 Repealed
  558. Other amendments
  559. 29Paragraph 29
  560. 30Paragraph 30
  561. 31Paragraph 31
  562. Commencement, etc.
  563. 32Paragraph 32
  564. Position of paying and collecting agents
  565. 33Paragraph 33
  566. Position of taxpayers
  567. 34Paragraph 34
  568. Times to which paragraphs 33 and 34 apply
  569. 35Paragraph 35
  570. Schedule 8: Loan relationships: claims etc relating to deficits Repealed
  571. Claim to set off deficit against other profits for the deficit period Repealed
  572. 1Paragraph 1 Repealed
  573. Claim to treat deficit as eligible for group relief Repealed
  574. 2Paragraph 2 Repealed
  575. Claim to carry back deficit to previous accounting periods Repealed
  576. 3Paragraph 3 Repealed
  577. Carry forward of deficit to succeeding accounting periods Repealed
  578. 4Paragraph 4 Repealed
  579. Construction of Schedule Repealed
  580. 5Paragraph 5 Repealed
  581. Schedule 9: Loan relationships: special computational provisions Repealed
  582. Distributions Repealed
  583. 1Paragraph 1 Repealed
  584. Insurance company liabilities Repealed
  585. 1AParagraph 1A Repealed
  586. Late interest Repealed
  587. 2Paragraph 2 Repealed
  588. Options et ceteralaetc. Repealed
  589. 3Paragraph 3 Repealed
  590. Foreign exchange gains and losses Repealed
  591. 4Paragraph 4 Repealed
  592. Deemed release of liability on impaired debt becoming held by connected company Repealed
  593. 4AParagraph 4A Repealed
  594. Release of liability under debtor relationship : cases in which credit need not be brought into account Repealed
  595. 5Paragraph 5 Repealed
  596. Release of liability under creditor relationship: application of provisions relating to impairment losses Repealed
  597. 5ZAParagraph 5ZA Repealed
  598. Impairment losses and consortium relief Repealed
  599. 5AParagraph 5A Repealed
  600. Impairment losses where parties have a connection Repealed
  601. 6Paragraph 6 Repealed
  602. Impairment losses : parties having connection and creditor in insolvent liquidation etc Repealed
  603. 6AParagraph 6A Repealed
  604. Impairment losses: companies becoming connected Repealed
  605. 6BParagraph 6B Repealed
  606. Impairment losses: cessation of connection Repealed
  607. 6CParagraph 6C Repealed
  608. Restriction on bringing into account debits resulting from revaluation Repealed
  609. 6DParagraph 6D Repealed
  610. Writing-off of government investments Repealed
  611. 7Paragraph 7 Repealed
  612. Restriction on writing off overseas sovereign debt et ceteralaetc. Repealed
  613. 8Paragraph 8 Repealed
  614. Further restriction on bringing into account losses on overseas sovereign debt et ceteralaetc. Repealed
  615. 9Paragraph 9 Repealed
  616. Imported losses et ceteralaetc. Repealed
  617. 10Paragraph 10 Repealed
  618. Deemed assignment of assets and liabilities on company ceasing to be resident in UKetc Repealed
  619. 10AParagraph 10A Repealed
  620. Transactions not at arm’s length Repealed
  621. 11Paragraph 11 Repealed
  622. Exchange gains and losses where loan not on arm’s length terms Repealed
  623. 11AParagraph 11A Repealed
  624. Disposals for consideration not fully recognised by accounting practice Repealed
  625. 11BParagraph 11B Repealed
  626. Continuity of treatment: groups et ceteralaetc. Repealed
  627. 12Paragraph 12 Repealed
  628. Transferee leaving group after replacing transferor as party to loan relationship Repealed
  629. 12AParagraph 12A Repealed
  630. European cross-border merger Repealed
  631. 12BParagraph 12B Repealed
  632. 12CParagraph 12C Repealed
  633. Cross-border transfer of business within European Community Repealed
  634. 12DParagraph 12D Repealed
  635. 12EParagraph 12E Repealed
  636. 12FParagraph 12F Repealed
  637. Exchanges, &c.: treatment of loan relationships Repealed
  638. 12GParagraph 12G Repealed
  639. Transparent entities Repealed
  640. 12HParagraph 12H Repealed
  641. 12IParagraph 12I Repealed
  642. 12JParagraph 12J Repealed
  643. Loan relationships for unallowable purposes Repealed
  644. 13Paragraph 13 Repealed
  645. Debits and credits treated as relating to capital expenditure Repealed
  646. 14Paragraph 14 Repealed
  647. Debits and credits recognised in equity or shareholders' funds Repealed
  648. 14AParagraph 14A Repealed
  649. Repo and stock-lending transactions and other transactions where a company ceases to be party to a loan relationship Repealed
  650. 15Paragraph 15 Repealed
  651. Amounts imputed under Schedule 28AA to the Taxes Act 1988 Repealed
  652. 16Paragraph 16 Repealed
  653. Deeply discounted securities where companies have a connection Repealed
  654. 17Paragraph 17 Repealed
  655. Deeply discounted securities of close companies Repealed
  656. 18Paragraph 18 Repealed
  657. Partnerships involving companies Repealed
  658. 19Paragraph 19 Repealed
  659. Adjustment on change of accounting policy Repealed
  660. 19AParagraph 19A Repealed
  661. Power to make further provision by regulations Repealed
  662. 19BParagraph 19B Repealed
  663. Interpretation of references to major interests Repealed
  664. 20Paragraph 20 Repealed
  665. Schedule 10: Loan relationships: collective investment schemes Repealed
  666. Investment trusts: capital profits, gains or losses Repealed
  667. 1Paragraph 1 Repealed
  668. 1AParagraph 1A Repealed
  669. Venture capital trusts: capital profits, gains or losses Repealed
  670. 1BParagraph 1B Repealed
  671. Authorised unit trusts : capital profits, gains or losses Repealed
  672. 2Paragraph 2 Repealed
  673. 2AParagraph 2A Repealed
  674. Open-ended investment companies : capital profits, gains or losses Repealed
  675. 2BParagraph 2B Repealed
  676. Distributing offshore funds Repealed
  677. 3Paragraph 3 Repealed
  678. Company holdings in unit trusts and offshore funds Repealed
  679. 4Paragraph 4 Repealed
  680. Holding becoming or ceasing to be paragraph 4 holding Repealed
  681. 5Paragraph 5 Repealed
  682. Opening valuation of paragraph 4 holding Repealed
  683. 6Paragraph 6 Repealed
  684. Meaning of offshore funds Repealed
  685. 7Paragraph 7 Repealed
  686. Non-qualifying investments test Repealed
  687. 8Paragraph 8 Repealed
  688. Powers to make orders Repealed
  689. 9Paragraph 9 Repealed
  690. Schedule 11: Loan relationships: special provisions for insurers Repealed
  691. Part I: Insurance companies Repealed
  692. I minus E basis Repealed
  693. 1Paragraph 1 Repealed
  694. Rules for different categories of business Repealed
  695. 2Paragraph 2 Repealed
  696. Apportionments Repealed
  697. 3Paragraph 3 Repealed
  698. 3AParagraph 3A Repealed
  699. Treatment of deficit Repealed
  700. 4Paragraph 4 Repealed
  701. Election for accruals basis for long term business assets Repealed
  702. 5Paragraph 5 Repealed
  703. Interpretation of Part I Repealed
  704. 6Paragraph 6 Repealed
  705. Part II: Corporate members of Lloyd’s Repealed
  706. 7Paragraph 7 Repealed
  707. Schedule 12Schedule 12
  708. Schedule 13: Discounted securities: income tax provisions Repealed
  709. Charge to tax on realised profit comprised in discount Repealed
  710. 1Paragraph 1 Repealed
  711. Realised losses on discounted securities Repealed
  712. 2Paragraph 2 Repealed
  713. Meaning of “relevant discounted security” Repealed
  714. 3Paragraph 3 Repealed
  715. Issue price etc of securities issued in accordance with qualifying earn-out right Repealed
  716. 3AParagraph 3A Repealed
  717. Meaning of “transfer” Repealed
  718. 4Paragraph 4 Repealed
  719. Redemption to include conversion Repealed
  720. 5Paragraph 5 Repealed
  721. Trustees and personal representatives Repealed
  722. 6Paragraph 6 Repealed
  723. Treatment of losses where income exempt Repealed
  724. 7Paragraph 7 Repealed
  725. Transfers between connected persons Repealed
  726. 8Paragraph 8 Repealed
  727. Other transactions deemed to be at market value Repealed
  728. 9Paragraph 9 Repealed
  729. Securities issued to connected person etc at price in excess of market value: transfer to connected person Repealed
  730. 9AParagraph 9A Repealed
  731. Issue of securities in separate tranches Repealed
  732. 10Paragraph 10 Repealed
  733. Accrued income scheme Repealed
  734. 11Paragraph 11 Repealed
  735. Assets transferred abroad Repealed
  736. 12Paragraph 12 Repealed
  737. Excluded indexed securities Repealed
  738. 13Paragraph 13 Repealed
  739. Meaning of corporate strip and conversion into corporate strips Repealed
  740. 13AParagraph 13A Repealed
  741. Corporate strips deemed to be relevant discounted securities Repealed
  742. 13BParagraph 13B Repealed
  743. Corporate strips: manipulation of acquisition, sale or redemption price Repealed
  744. 13CParagraph 13C Repealed
  745. Corporate strips: manipulation of price: associated payment giving rise to CGT loss Repealed
  746. 13DParagraph 13D Repealed
  747. Strips of government securities Repealed
  748. 14Paragraph 14 Repealed
  749. Strips of government securities: losses Repealed
  750. 14AParagraph 14A Repealed
  751. Strips of government securities: manipulation of acquisition, sale or redemption price Repealed
  752. 14BParagraph 14B Repealed
  753. Strips: manipulation of price: associated payment giving rise to capital gains tax loss Repealed
  754. 14CParagraph 14C Repealed
  755. Restriction of profits and losses on strips by reference to original acquisition cost Repealed
  756. 14DParagraph 14D Repealed
  757. Market value of strips etc for the purposes of paragraphs 8, 9, 14 and 14B Repealed
  758. 14EParagraph 14E Repealed
  759. General interpretation Repealed
  760. 15Paragraph 15 Repealed
  761. Application of Schedule for income tax purposes only Repealed
  762. 16Paragraph 16 Repealed
  763. Schedule 14: Loan relationships: minor and consequential amendments
  764. The Taxes Management Act 1970 (c. 9)
  765. 1Paragraph 1
  766. The Inheritance Tax Act 1984 (c. 51)
  767. 2Paragraph 2
  768. The Airports Act 1986 (c. 31)
  769. 3Paragraph 3
  770. The Gas Act 1986 (c. 44)
  771. 4Paragraph 4
  772. The Taxes Act 1988
  773. 5Paragraph 5
  774. 6Paragraph 6
  775. 7Paragraph 7
  776. 8Paragraph 8 Repealed
  777. 9Paragraph 9 Repealed
  778. 10Paragraph 10
  779. 11Paragraph 11 Repealed
  780. 12Paragraph 12
  781. 13Paragraph 13 Repealed
  782. 14Paragraph 14
  783. 15Paragraph 15
  784. 16Paragraph 16 Repealed
  785. 17Paragraph 17
  786. 18Paragraph 18 Repealed
  787. 19Paragraph 19 Repealed
  788. 20Paragraph 20
  789. 21Paragraph 21 Repealed
  790. 22Paragraph 22 Repealed
  791. 23Paragraph 23 Repealed
  792. 24Paragraph 24
  793. 25Paragraph 25 Repealed
  794. 26Paragraph 26 Repealed
  795. 27Paragraph 27 Repealed
  796. 28Paragraph 28
  797. 29Paragraph 29
  798. 30Paragraph 30
  799. 31Paragraph 31
  800. 32Paragraph 32
  801. 33Paragraph 33 Repealed
  802. 34Paragraph 34
  803. 35Paragraph 35 Repealed
  804. 36Paragraph 36 Repealed
  805. 37Paragraph 37 Repealed
  806. 38Paragraph 38
  807. 39Paragraph 39 Repealed
  808. 40Paragraph 40 Repealed
  809. 41Paragraph 41 Repealed
  810. 42Paragraph 42 Repealed
  811. 43Paragraph 43 Repealed
  812. 44Paragraph 44 Repealed
  813. 45Paragraph 45 Repealed
  814. 46Paragraph 46 Repealed
  815. 47Paragraph 47 Repealed
  816. 48Paragraph 48
  817. 49Paragraph 49
  818. 50Paragraph 50
  819. 51Paragraph 51
  820. 52Paragraph 52 Repealed
  821. 53Paragraph 53
  822. 54Paragraph 54 Repealed
  823. The British Steel Act 1988 (c. 35)
  824. 55Paragraph 55
  825. The Finance Act 1989 (c. 26)
  826. 56Paragraph 56 Repealed
  827. 57Paragraph 57
  828. The Finance Act 1990 (c. 29)
  829. 58Paragraph 58
  830. The Taxation of Chargeable Gains Act 1992 (c. 12)
  831. 59Paragraph 59
  832. 60Paragraph 60
  833. 61Paragraph 61
  834. 62Paragraph 62
  835. 63Paragraph 63 Repealed
  836. 64Paragraph 64
  837. 65Paragraph 65
  838. 66Paragraph 66
  839. The Finance Act 1993 (c. 34)
  840. 67Paragraph 67 Repealed
  841. 68Paragraph 68 Repealed
  842. 69Paragraph 69 Repealed
  843. 70Paragraph 70 Repealed
  844. 71Paragraph 71 Repealed
  845. 72Paragraph 72 Repealed
  846. 73Paragraph 73 Repealed
  847. 74Paragraph 74 Repealed
  848. The Finance Act 1994 (c. 9)
  849. 75Paragraph 75 Repealed
  850. 76Paragraph 76 Repealed
  851. 77Paragraph 77 Repealed
  852. 78Paragraph 78 Repealed
  853. 79Paragraph 79 Repealed
  854. Schedule 15: Loan relationships: savings and transitional provisions
  855. Part I: Corporation tax
  856. Application and interpretation of Part I
  857. 1Paragraph 1
  858. Loan relationships terminated before 1st April 1996
  859. 2Paragraph 2 Repealed
  860. Basic rules for transitional accounting periods
  861. 3Paragraph 3 Repealed
  862. Adjustment of opening value where new accounting basis adopted as from an accounting period beginning on 1st April 1996
  863. 3AParagraph 3A Repealed
  864. Application of accruals basis to pre-commencement relationships
  865. 4Paragraph 4 Repealed
  866. Adjustments in respect of pre-commencement trading relationships
  867. 5Paragraph 5
  868. Method of giving effect to paragraph 5 adjustments
  869. 6Paragraph 6
  870. General savings for the taxation of chargeable gains
  871. 7Paragraph 7
  872. Transitional provision for chargeable assets held after commencement
  873. 8Paragraph 8
  874. Election for alternative treatment of amounts specified in paragraph 8
  875. 9Paragraph 9
  876. Adjustments of opening value for mark to market accounting in the case of chargeable assets
  877. 10Paragraph 10 Repealed
  878. Other adjustments in the case of chargeable assets etc.
  879. 11Paragraph 11
  880. Reduction of paragraph 11 credit where s.251(4) of 1992 Act prevents paragraph 8 loss
  881. 11AParagraph 11A
  882. Notional closing values of relevant assets
  883. 12Paragraph 12
  884. Further transitional rules for interest under loan relationships
  885. 13Paragraph 13 Repealed
  886. Transitional in respect of incidental expenses already allowed
  887. 14Paragraph 14 Repealed
  888. Holdings of unit trusts etc.
  889. 15Paragraph 15 Repealed
  890. Bad debt relieved before commencement
  891. 16Paragraph 16
  892. Transitional for overseas sovereign debt etc.
  893. 17Paragraph 17
  894. Transitional for accrued income scheme
  895. 18Paragraph 18 Repealed
  896. Deep discount securities
  897. 19Paragraph 19
  898. Deep gain securities
  899. 20Paragraph 20
  900. Convertible securities
  901. 21Paragraph 21
  902. Transitional and savings for Chapter II of Part II of the Finance Act 1993
  903. 22Paragraph 22 Repealed
  904. Carrying back non-trading losses against exchange profits etc.
  905. 23Paragraph 23 Repealed
  906. Exchange losses etc. carried forward from before 1st April 1996
  907. 24Paragraph 24 Repealed
  908. Transitional for debt contracts and options to which Chapter II of Part IV of the Finance Act 1994 is applied
  909. 25Paragraph 25 Repealed
  910. Part II: Income tax and capital gains tax
  911. Application and interpretation of Part II
  912. 26Paragraph 26
  913. Qualifying indexed securities
  914. 27Paragraph 27
  915. 28Paragraph 28
  916. 29Paragraph 29
  917. Transitional in relation to qualifying corporate bonds
  918. 30Paragraph 30
  919. Schedule 16: Share option schemes approved before passing of this Act Repealed
  920. Preliminary Repealed
  921. 1Paragraph 1 Repealed
  922. Limit on aggregate value of options Repealed
  923. 2Paragraph 2 Repealed
  924. Price at which scheme shares may be obtained Repealed
  925. 3Paragraph 3 Repealed
  926. Approval of the Board to alterations Repealed
  927. 4Paragraph 4 Repealed
  928. Interpretation Repealed
  929. 5Paragraph 5 Repealed
  930. Schedule 17Claims for relief involving two or more years
  931. Preliminary
  932. 1Paragraph 1
  933. Loss relief
  934. 2Paragraph 2
  935. Relief for fluctuating profits of farming etc.
  936. 3Paragraph 3
  937. Relief claimed by virtue of section 96(9)
  938. 4Paragraph 4
  939. Carry-back of post-cessation etc. receipts
  940. 5Paragraph 5
  941. Backward spreading of certain payments
  942. 6Paragraph 6
  943. Schedule 18: Overdue tax and excessive payments by the Board
  944. The Taxes Management Act 1970
  945. 1Paragraph 1
  946. 2Paragraph 2
  947. 3Paragraph 3
  948. 4Paragraph 4
  949. The Taxes Act 1988
  950. 5Paragraph 5
  951. 6Paragraph 6
  952. 7Paragraph 7
  953. 8Paragraph 8
  954. 9Paragraph 9
  955. 10Paragraph 10 Repealed
  956. 11Paragraph 11
  957. The Finance Act 1989
  958. 12Paragraph 12
  959. 13Paragraph 13
  960. The Finance Act 1991
  961. 14Paragraph 14
  962. The Taxation of Chargeable Gains Act 1992
  963. 15Paragraph 15
  964. The Finance Act 1995
  965. 16Paragraph 16
  966. Commencement
  967. 17Paragraph 17
  968. Schedule 19: Self-assessment: claims and enquiries
  969. Introductory
  970. 1Paragraph 1
  971. Matters subject to enquiry
  972. 2Paragraph 2
  973. Power to call for documents
  974. 3Paragraph 3 Repealed
  975. Further amendments of section 28A
  976. 4Paragraph 4 Repealed
  977. Further amendments of section 28B
  978. 5Paragraph 5 Repealed
  979. Right of appeal against notice disallowing claim in return
  980. 6Paragraph 6 Repealed
  981. 7Paragraph 7
  982. Claims not included in returns
  983. 8Paragraph 8
  984. 9Paragraph 9 Repealed
  985. Right of appeal against notice disallowing claim not in return
  986. 10Paragraph 10
  987. Schedule 20: Self-assessment: discretions exercisable by the Board etc.
  988. The Taxes Act 1988
  989. 1Paragraph 1
  990. 2Paragraph 2 Repealed
  991. 3Paragraph 3 Repealed
  992. 4Paragraph 4
  993. 5Paragraph 5 Repealed
  994. 6Paragraph 6 Repealed
  995. 7Paragraph 7 Repealed
  996. 8Paragraph 8 Repealed
  997. 9Paragraph 9 Repealed
  998. 10Paragraph 10 Repealed
  999. 11Paragraph 11
  1000. 12Paragraph 12 Repealed
  1001. 13Paragraph 13
  1002. 14Paragraph 14
  1003. 15Paragraph 15
  1004. 16Paragraph 16
  1005. 17Paragraph 17
  1006. 18Paragraph 18
  1007. 19Paragraph 19
  1008. 20Paragraph 20
  1009. 21Paragraph 21
  1010. 22Paragraph 22 Repealed
  1011. 23Paragraph 23 Repealed
  1012. 24Paragraph 24
  1013. 25Paragraph 25
  1014. 26Paragraph 26 Repealed
  1015. 27Paragraph 27 Repealed
  1016. 28Paragraph 28 Repealed
  1017. 29Paragraph 29 Repealed
  1018. 30Paragraph 30
  1019. 31Paragraph 31
  1020. 32Paragraph 32
  1021. 33Paragraph 33 Repealed
  1022. 34Paragraph 34 Repealed
  1023. 35Paragraph 35 Repealed
  1024. 36Paragraph 36 Repealed
  1025. 37Paragraph 37 Repealed
  1026. 38Paragraph 38 Repealed
  1027. 39Paragraph 39 Repealed
  1028. 40Paragraph 40 Repealed
  1029. 41Paragraph 41 Repealed
  1030. 42Paragraph 42 Repealed
  1031. 43Paragraph 43
  1032. The Capital Allowances Act 1990
  1033. 44Paragraph 44 Repealed
  1034. The Taxation of Chargeable Gains Act 1992
  1035. 45Paragraph 45
  1036. 46Paragraph 46
  1037. 47Paragraph 47
  1038. 48Paragraph 48
  1039. 49Paragraph 49
  1040. 50Paragraph 50
  1041. 51Paragraph 51
  1042. 52Paragraph 52
  1043. 53Paragraph 53
  1044. 54Paragraph 54
  1045. 55Paragraph 55
  1046. 56Paragraph 56
  1047. 57Paragraph 57
  1048. 58Paragraph 58
  1049. 59Paragraph 59
  1050. 60Paragraph 60
  1051. 61Paragraph 61
  1052. 62Paragraph 62 Repealed
  1053. 63Paragraph 63
  1054. 64Paragraph 64
  1055. 65Paragraph 65
  1056. 66Paragraph 66
  1057. 67Paragraph 67
  1058. The Finance Act 1993
  1059. 68Paragraph 68 Repealed
  1060. 69Paragraph 69 Repealed
  1061. 70Paragraph 70 Repealed
  1062. The Finance Act 1994
  1063. 71Paragraph 71 Repealed
  1064. Schedule 21: Self-assessment: time limits
  1065. The Taxes Act 1988
  1066. 1Paragraph 1 Repealed
  1067. 2Paragraph 2 Repealed
  1068. 3Paragraph 3 Repealed
  1069. 4Paragraph 4 Repealed
  1070. 5Paragraph 5 Repealed
  1071. 6Paragraph 6 Repealed
  1072. 7Paragraph 7 Repealed
  1073. 8Paragraph 8
  1074. 9Paragraph 9
  1075. 10Paragraph 10 Repealed
  1076. 11Paragraph 11 Repealed
  1077. 12Paragraph 12
  1078. 13Paragraph 13
  1079. 14Paragraph 14
  1080. 15Paragraph 15 Repealed
  1081. 16Paragraph 16 Repealed
  1082. 17Paragraph 17 Repealed
  1083. 18Paragraph 18 Repealed
  1084. 19Paragraph 19 Repealed
  1085. 20Paragraph 20 Repealed
  1086. 21Paragraph 21 Repealed
  1087. 22Paragraph 22 Repealed
  1088. 23Paragraph 23 Repealed
  1089. 24Paragraph 24
  1090. The Finance Act 1988 (c. 39)
  1091. 25Paragraph 25
  1092. The Capital Allowances Act 1990 (c. 1)
  1093. 26Paragraph 26 Repealed
  1094. 27Paragraph 27 Repealed
  1095. 28Paragraph 28 Repealed
  1096. 29Paragraph 29 Repealed
  1097. 30Paragraph 30 Repealed
  1098. 31Paragraph 31 Repealed
  1099. 32Paragraph 32 Repealed
  1100. 33Paragraph 33 Repealed
  1101. 34Paragraph 34 Repealed
  1102. The Taxation of Chargeable Gains Act 1992 (c. 12)
  1103. 35Paragraph 35
  1104. 36Paragraph 36
  1105. 37Paragraph 37
  1106. 38Paragraph 38
  1107. 39Paragraph 39
  1108. 40Paragraph 40
  1109. 41Paragraph 41
  1110. 42Paragraph 42
  1111. 43Paragraph 43 Repealed
  1112. 44Paragraph 44
  1113. The Finance (No. 2) Act 1992 (c. 48)
  1114. 45Paragraph 45 Repealed
  1115. 46Paragraph 46 Repealed
  1116. 47Paragraph 47 Repealed
  1117. The Finance Act 1994 (c. 9)
  1118. 48Paragraph 48 Repealed
  1119. Schedule 22: Self-assessment: appeals
  1120. The Taxes Management Act 1970
  1121. 1Paragraph 1
  1122. 2Paragraph 2 Repealed
  1123. 3Paragraph 3 Repealed
  1124. 4Paragraph 4 Repealed
  1125. 5Paragraph 5
  1126. 6Paragraph 6
  1127. 7Paragraph 7
  1128. 8Paragraph 8
  1129. 9Paragraph 9
  1130. 10Paragraph 10
  1131. Section 102 of the Taxes Act 1988
  1132. 11Paragraph 11
  1133. Commencement of Schedule
  1134. 12Paragraph 12
  1135. Schedule 23: Self-assessment: Schedules 13 and 16 to the Taxes Act 1988 Repealed
  1136. Part I: Schedule 13 to the Taxes Act 1988 Repealed
  1137. 1Paragraph 1 Repealed
  1138. 2Paragraph 2 Repealed
  1139. 3Paragraph 3 Repealed
  1140. 4Paragraph 4 Repealed
  1141. 5Paragraph 5 Repealed
  1142. 6Paragraph 6 Repealed
  1143. 7Paragraph 7 Repealed
  1144. 8Paragraph 8 Repealed
  1145. 9Paragraph 9 Repealed
  1146. Part II: Schedule 16 to the Taxes Act 1988 Repealed
  1147. 10Paragraph 10 Repealed
  1148. 11Paragraph 11 Repealed
  1149. 12Paragraph 12 Repealed
  1150. 13Paragraph 13 Repealed
  1151. Schedule 24: Self-assessment: accounting periods etc.
  1152. Part I: Amendments of the Taxes Management Act 1970
  1153. Introductory
  1154. 1Paragraph 1
  1155. 2Paragraph 2
  1156. Power to enquire into return for wrong period, etc.
  1157. 3Paragraph 3
  1158. 4Paragraph 4
  1159. 5Paragraph 5 Repealed
  1160. Amendment of return for wrong period
  1161. 6Paragraph 6
  1162. Failure to deliver return: determinations
  1163. 7Paragraph 7
  1164. Commencement
  1165. 8Paragraph 8
  1166. Part II: Other amendments
  1167. General
  1168. 9Paragraph 9
  1169. Repeal of section 8A of the Taxes Act 1988
  1170. 10Paragraph 10
  1171. Determination of accounting date
  1172. 11Paragraph 11 Repealed
  1173. Companies in liquidation
  1174. 12Paragraph 12 Repealed
  1175. Construction of references to assessments
  1176. 13Paragraph 13
  1177. Schedule 25: Self-assessment: surrenders of advance corporation tax
  1178. Amendments of section 240 of the Taxes Act 1988
  1179. 1Paragraph 1
  1180. The new Schedule 13A to the Taxes Act 1988
  1181. 2Paragraph 2
  1182. 3Paragraph 3
  1183. Other amendments
  1184. 4Paragraph 4
  1185. 5Paragraph 5
  1186. Schedule 26Damages and compensation for personal injury Repealed
  1187. Schedule 27: Foreign income dividends
  1188. Companies that pay FIDs
  1189. 1Paragraph 1
  1190. Recipients of FIDs
  1191. 2Paragraph 2
  1192. Calculation of the distributable foreign profit and the notional foreign source ACT
  1193. 3Paragraph 3
  1194. International headquarters company
  1195. 4Paragraph 4
  1196. Life assurance business charged under Case I of Schedule D
  1197. 5Paragraph 5
  1198. Foreign income distributions to corporate unit holders
  1199. 6Paragraph 6
  1200. Schedule 28: FOTRA securities: consequential amendments
  1201. The Taxes Act 1988
  1202. 1Paragraph 1
  1203. 2Paragraph 2
  1204. 3Paragraph 3
  1205. 4Paragraph 4 Repealed
  1206. 5Paragraph 5 Repealed
  1207. 6Paragraph 6
  1208. The Inheritance Tax Act 1984 (c. 51)
  1209. 7Paragraph 7
  1210. 8Paragraph 8
  1211. Schedule 29: Paying and Collecting Agents etc.
  1212. Part I: The New Chapter
  1213. 1Paragraph 1
  1214. Part II: Other Provisions
  1215. Penalties
  1216. 2Paragraph 2
  1217. Amendments of the Taxes Act 1988
  1218. 3Paragraph 3
  1219. 4Paragraph 4
  1220. 5Paragraph 5
  1221. 6Paragraph 6
  1222. 7Paragraph 7
  1223. Amendment of the Finance Act 1989
  1224. 8Paragraph 8
  1225. Schedule 30: Investments in housing Repealed
  1226. Reduced rate of corporation tax Repealed
  1227. 1Paragraph 1 Repealed
  1228. Investments in housing by investment trusts Repealed
  1229. 2Paragraph 2 Repealed
  1230. Commencement Repealed
  1231. 3Paragraph 3 Repealed
  1232. Schedule 31: Life assurance business losses Repealed
  1233. Expenses of management Repealed
  1234. 1Paragraph 1 Repealed
  1235. Computation of losses and limitation on relief Repealed
  1236. 2Paragraph 2 Repealed
  1237. Spreading of relief for acquisition expenses Repealed
  1238. 3Paragraph 3 Repealed
  1239. Ascertainment of losses Repealed
  1240. 4Paragraph 4 Repealed
  1241. Application of surplus in reduction of certain losses Repealed
  1242. 5Paragraph 5 Repealed
  1243. Meaning of “brought into account” in sections 83AA and 83AB Repealed
  1244. 6Paragraph 6 Repealed
  1245. Enactments disapplying section 83(3) of the Finance Act 1989 Repealed
  1246. 7Paragraph 7 Repealed
  1247. Overseas life insurance companies Repealed
  1248. 8Paragraph 8 Repealed
  1249. Transitional provisions Repealed
  1250. 9Paragraph 9 Repealed
  1251. Commencement Repealed
  1252. 10Paragraph 10 Repealed
  1253. Schedule 32: Equalisation reserves
  1254. 1Paragraph 1 Repealed
  1255. 2Paragraph 2 Repealed
  1256. Schedule 33: Management expenses of capital redemption business Repealed
  1257. Amendment of section 76 of Taxes Act Repealed
  1258. 1Paragraph 1 Repealed
  1259. Treatment of capital redemption business Repealed
  1260. 2Paragraph 2 Repealed
  1261. Overseas life insurance companies Repealed
  1262. 3Paragraph 3 Repealed
  1263. Commencement Repealed
  1264. 4Paragraph 4 Repealed
  1265. Schedule 34: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  1266. Part I: Amendments of Schedule 19AB to the Taxes Act 1988
  1267. 1Paragraph 1
  1268. 2Paragraph 2
  1269. 3Paragraph 3
  1270. 4Paragraph 4
  1271. Part II: Amendments of Schedule 19AC to the Taxes Act 1988
  1272. 5Paragraph 5
  1273. Schedule 35: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  1274. Preliminary
  1275. 1Paragraph 1
  1276. Amendment of provisions relating to roll-over relief in respect of ships
  1277. 2Paragraph 2
  1278. 3Paragraph 3
  1279. 4Paragraph 4
  1280. 5Paragraph 5
  1281. 6Paragraph 6
  1282. Commencement
  1283. 7Paragraph 7
  1284. Schedule 36: Controlled foreign companies
  1285. 1Paragraph 1 Repealed
  1286. 2Paragraph 2
  1287. 3Paragraph 3
  1288. 4Paragraph 4
  1289. Schedule 37: Banks
  1290. Part I: “Bank” re-defined for certain purposes
  1291. 1Paragraph 1
  1292. Part II: Amendments of the Taxes Act 1988
  1293. Provisions in which new meaning of “bank” applies
  1294. 2Paragraph 2
  1295. Related amendments
  1296. 3Paragraph 3 Repealed
  1297. 4Paragraph 4 Repealed
  1298. 5Paragraph 5 Repealed
  1299. Application
  1300. 6Paragraph 6
  1301. 7Paragraph 7 Repealed
  1302. 8Paragraph 8 Repealed
  1303. 9Paragraph 9 Repealed
  1304. 10Paragraph 10
  1305. Part III: Other amendments
  1306. Amendments of the Management Act
  1307. 11Paragraph 11
  1308. Amendments of the Inheritance Tax Act 1984
  1309. 12Paragraph 12
  1310. Schedule 38: Quotation or listing of securities
  1311. The Finance Act 1973
  1312. 1Paragraph 1 Repealed
  1313. The Inheritance Tax Act 1984
  1314. 2Paragraph 2
  1315. 3Paragraph 3
  1316. 4Paragraph 4
  1317. 5Paragraph 5
  1318. The Taxes Act 1988
  1319. 6Paragraph 6
  1320. 7Paragraph 7 Repealed
  1321. 8Paragraph 8 Repealed
  1322. 9Paragraph 9 Repealed
  1323. The Taxation of Chargeable Gains Act 1992
  1324. 10Paragraph 10
  1325. 11Paragraph 11
  1326. 12Paragraph 12
  1327. Schedule 39: Enactment of Certain Inland Revenue Extra-Statutory Concessions
  1328. Part I: Income Tax and Corporation Tax
  1329. Capital Allowances
  1330. 1Paragraph 1
  1331. Contributions to overseas pension schemes
  1332. 2Paragraph 2 Repealed
  1333. Part II: Chargeable Gains
  1334. Treatment of compensation and insurance money
  1335. 3Paragraph 3
  1336. Assets of negligible value
  1337. 4Paragraph 4
  1338. Settled Property
  1339. 5Paragraph 5
  1340. 6Paragraph 6
  1341. Retirement Relief
  1342. 7Paragraph 7
  1343. Relief for loans to traders
  1344. 8Paragraph 8
  1345. Relief for debts on qualifying corporate bonds
  1346. 9Paragraph 9
  1347. Part III: Stamp Duty
  1348. Lost or spoiled instruments
  1349. 10Paragraph 10
  1350. Schedule 40: Gilt stripping: taxation provisions
  1351. The Stamp Act 1891 (c. 39)
  1352. 1Paragraph 1
  1353. 2Paragraph 2
  1354. The Taxes Act 1988
  1355. 3Paragraph 3 Repealed
  1356. 4Paragraph 4 Repealed
  1357. 5Paragraph 5 Repealed
  1358. 6Paragraph 6 Repealed
  1359. 7Paragraph 7 Repealed
  1360. The Taxation of Chargeable Gains Act 1992 (c. 12)
  1361. 8Paragraph 8
  1362. Schedule 41: Repeals
  1363. IHydrocarbon Oil Duty: relief for marine voyages
  1364. IIVehicle Excise and Registration
  1365. IIIExcise duties: repeal of drawbacks etc.
  1366. IVValue Added Tax
  1367. VIncome Tax, Corporation Tax and Capital Gains Tax
  1368. Paragraph
  1369. Paragraph
  1370. Paragraph
  1371. VIInheritance Tax
  1372. 1Paragraph 1
  1373. 2Paragraph 2
  1374. VIIStamp duty and stamp duty reserve tax
  1375. 1Paragraph 1
  1376. 2Paragraph 2
  1377. 3Paragraph 3
  1378. 4Paragraph 4
  1379. VIIIMiscellaneous