# Finance Act 1997, Part VI: Income Tax, Corporation Tax and Capital Gains Tax

Extent: E+W+S+N.I.

(1) Additional rate of income tax
Chapter
Short title
Extent of repeal
1988 c. 1.
The Income and Corporation Taxes Act 1988.
In section 832(1), the definition of “additional rate”.
1988 c. 39.
The Finance Act 1988.
Section 24(4).
These repeals have effect in relation to the year 1997-98 and subsequent years of assessment.
(2) Wayleaves
Chapter
Short title
Extent of repeal
1970 c. 9.
The Taxes Management Act 1970.
In section 42(7)(a) (as it has effect by virtue of section 196 of the Finance Act 1994), the words “120(2),”.
1988 c. 1.
The Income and Corporation Taxes Act 1988.
In section 1A(2)(a)(ii), the words “or 120”.
In section 3, paragraph (c) and the word “or” immediately preceding it.
Section 74(1)(q).
In section 120—
(a) in subsection (1), the words from “and, subject to” onwards;
(b) subsections (2) to (4); and
(c) in subsection (5), paragraph (c) and the word “and” immediately preceding it.
In section 348(2), paragraph (b) and the word “or” immediately preceding it.
In section 349(1), paragraph (c) and the word “or” immediately preceding it.
Section 387(3)(c).
In section 821(3), paragraph (c) and the word “and” immediately preceding it.
These repeals have effect in relation to payments made on or after 6th April 1997.
(3) Profit-related pay
Chapter
Short title
Extent of repeal
1970 c. 9.
The Taxes Management Act 1970.
In section 98, in the Table—
(a) in the first column, the entry relating to section 181(1) of the Taxes Act 1988; and
(b) in the second column, the entry relating to section 180(1) of that Act.
1988 c. 1.
The Income and Corporation Taxes Act 1988.
Sections 169 to 184.
Schedule 8.
1988 c. 39.
The Finance Act 1988.
In Schedule 13, paragraph 4.
1989 c. 26.
The Finance Act 1989.
Section 42(4).
Section 61.
Schedule 4.
In Schedule 12, paragraph 18.
1989 c. 40.
The Companies Act 1989.
In Schedule 10, paragraph 38(2).
S.I. 1990/593 (N.I. 5).
The Companies (Northern Ireland) Order 1990.
In Schedule 10, paragraph 30(1).
1991 c. 31.
The Finance Act 1991.
Section 37.
1994 c. 9.
The Finance Act 1994.
Sections 98 and 99.
1995 c. 4.
The Finance Act 1995.
Section 136.
Section 137(1) and (6).

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Source: https://www.legislation.gov.uk/ukpga/1997/16/schedule/18/part/VI (the official version)
Page: https://openlegislation.uk/finance-act-1997/schedule-18/part-VI
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.