Finance Act 2001 in Scotland

2001 c. 9 · Enacted 11 May 2001 · Extends to United Kingdom

Contents

1. Part 1: EXCISE DUTIES
2. Hydrocarbon oil duties
3. 1Rates of duty on hydrocarbon oil
4. 2Rebate on unleaded petrol
5. 3Fuel-testing pilot projects
6. Tobacco products duty
7. 4Rates of tobacco products duty
8. Alcoholic liquor duties
9. 5Dilution etc. of cider
10. Betting and gaming duties
11. 6General betting duty
12. 7Rates of gaming duty
13. Vehicle excise duty
14. 8Threshold for reduced general rate
15. 9Rates of duty for goods vehicles
16. 10Rates of duty for vehicles used for exceptional loads
17. 11Rates of duty for recovery vehicles
18. 12Mobile pumping vehicles
19. 13Exemption of agricultural etc. vehicles
20. 14Surrender of vehicle licences Repealed
21. General
22. 15Payments by Commissioners in case of error or delay
23. Part 2: AGGREGATES LEVY
24. Charging provisions
25. 16Charge to aggregates levy
26. 17Meanings of “aggregate” and “taxable aggregate”
27. 18Exempt processes
28. 19Commercial exploitation
29. 20Originating sites
30. 21Operators of sites
31. 22Responsibility for exploitation of aggregate
32. 23Weight of aggregate
33. Administration and enforcement
34. 24The register
35. 25Returns and payment of levy
36. 26Security for levy
37. 27Recovery and interest
38. 28Evasion, misdeclaration and neglect
39. 29Information and evidence
40. Credits and repayments
41. 30Credit for aggregates levy
42. 30ATransitional tax credit in Northern Ireland
43. 30BSpecial tax credit in Northern Ireland
44. 30CSpecial tax credit: applicable rate of interest
45. 30DSpecial tax credit: certification by Department
46. 31Repayments of overpaid levy
47. 32Supplemental provisions about repayments etc
48. Non-resident taxpayers
49. 33Appointment of tax representatives
50. 34Effect of appointment of tax representatives
51. Other special cases
52. 35Groups of companies etc
53. 36Partnerships and other unincorporated bodies
54. 37Insolvency etc
55. 38Death and incapacity
56. 39Transfer of a business as a going concern
57. Review and appeal
58. 40Appeals
59. 40AOffer of review
60. 40BRight to require review
61. 40CReview by HMRC
62. 40DExtensions of time
63. 40EReview out of time
64. 40FNature of review etc
65. 40GBringing of appeals
66. 41Appeals: further provisions
67. 42Determinations on appeal
68. 43Adjustments of contracts
69. General provisions
70. 44Destination of receipts Repealed
71. 45Regulations and orders
72. 46Civil penalties
73. 47Service of notices etc
74. 48Interpretation of Part
75. Supplemental
76. 49Minor and consequential amendments
77. Part 3: INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
78. Chapter 1: CHARGE AND RATES
79. Income tax
80. 50Charge and rates for 2001-02 Repealed
81. 51Starting rate limit for 2001-02 Repealed
82. 52Children’s tax credit: amount for 2001-02 and subsequent years Repealed
83. 53Children’s tax credit: baby rate Repealed
84. Corporation tax
85. 54Charge and main rate for financial year 2002
86. 55Small companies’ rate and fraction for financial year 2001 Repealed
87. 56Corporation tax starting rate and fraction for financial year 2001
88. Chapter 2: OTHER PROVISIONS
89. Employment
90. 57Mileage allowances: exemptions and relief
91. 58Mileage allowances: nil liability notices Repealed
92. 59Employees’ vehicles: withdrawal of capital allowances
93. 60Exemption for works bus services: extension to minibuses Repealed
94. 61Employee share ownership plans Repealed
95. Enterprise incentives
96. 62Enterprise management incentives Repealed
97. 63Enterprise investment scheme
98. 64Venture capital
99. Capital allowances
100. 65Energy-saving plant and machinery Repealed
101. 66Fixtures provided in connection with energy management services
102. 67Conversion of parts of business premises into flats Repealed
103. 68Decommissioning of offshore oil infrastructure
104. 69Minor amendments
105. Other relieving provisions
106. 70Relief for expenditure on remediation of contaminated land
107. 71Creative artists: relief for fluctuating profits
108. 72Expenditure on film production etc
109. 73Deductions for business gifts: yearly limit Repealed
110. Pension funds
111. 74Payments to employers out of pension funds Repealed
112. Limited liability partnerships
113. 75Limited liability partnerships: general
114. 76Limited liability partnerships: investment LLPs and property investment LLPs
115. Chargeable gains
116. 77Notional transfers within a group Repealed
117. 78Taper relief: assets qualifying as business assets Repealed
118. 79De-grouping charge: transitional relief
119. 80Attribution of gains of non-resident companies
120. International matters
121. 81Double taxation relief Repealed
122. 82Controlled foreign companies: acceptable distribution policy Repealed
123. Miscellaneous
124. 83Life policies, life annuity contracts and capital redemption policies
125. 84Exclusion of deductions for deemed manufactured payments Repealed
126. 85Deduction of tax: payments between companies etc
127. 86Profits for purposes of small companies’ relief Repealed
128. 87Tax deductions and credits: end of provisional repayment regime
129. General
130. 88Amendments to the machinery of self-assessment
131. 89Recovery proceedings: minor amendments
132. 90Repayment supplements: claim for relief involving two or more years
133. 91Power to revise excessive penalties
134. Part 4: OTHER TAXES
135. Stamp duty and stamp duty reserve tax
136. 92Stamp duty: exemption for land in disadvantaged areas Repealed
137. 92ARestriction of exemption in the case of residential property etc Repealed
138. 92BMeaning of “residential property” Repealed
139. 93SDRT: unit trust schemes and individual pension accounts Repealed
140. 94SDRT: open-ended investment companies and individual pension accounts Repealed
141. 95Exemptions in relation to ... share incentive plans
142. Value added tax
143. 96VAT: children’s car seats
144. 97VAT: residential conversions and renovations
145. 98VAT: museums and galleries
146. 99VAT: re-enactment of reduced-rate provisions
147. 100VAT representatives
148. Petroleum revenue tax
149. 101PRT: unrelievable field losses
150. 102PRT: allowable decommissioning expenditure
151. 103PRT: expenditure in certain gas-producing fields
152. Landfill tax
153. 104Landfill tax: rate
154. Climate change levy
155. 105Climate change levy
156. Inheritance tax
157. 106Transfers within group etc
158. Part 5: MISCELLANEOUS AND SUPPLEMENTARY PROVISIONS
159. Miscellaneous
160. 107Interest on unpaid tax, etc.: foot-and-mouth disease Repealed
161. 108Trading funds
162. Supplementary
163. 109Interpretation
164. 110Repeals and revocations
165. 111Short title
166. Schedule 1GENERAL BETTING DUTY
167. 1Paragraph 1 Repealed
168. 2Paragraph 2
169. 3Paragraph 3
170. Schedule 2: RATES OF VEHICLE EXCISE DUTY ON GOODS VEHICLES
171. 1Paragraph 1
172. 2Paragraph 2
173. 3Paragraph 3
174. 4Paragraph 4
175. 5Paragraph 5
176. 6Paragraph 6 Repealed
177. 7Paragraph 7
178. 8Paragraph 8
179. 9Paragraph 9
180. 10Paragraph 10
181. 11Paragraph 11
182. Schedule 3: EXCISE DUTY: PAYMENTS BY COMMISSIONERS IN CASE OF ERROR OR DELAY
183. Part 1: PAYMENTS
184. 1Duty paid in error
185. 2Error relating to rebate
186. 3Claims
187. Part 2: INTEREST
188. 4Commissioners’ delay
189. 5Paragraph 5
190. 6Paragraph 6
191. 7Commissioners’ error
192. 8Paragraph 8
193. 9Paragraph 9
194. 10Paragraph 10
195. 11Paragraph 11
196. 12Claims
197. 13Rate of interest
198. Part 3: APPEALS
199. 14Paragraph 14
200. Part 4: GENERAL
201. 15Amendments
202. 16Paragraph 16
203. 17Paragraph 17
204. 18Paragraph 18
205. 19Paragraph 19
206. 20Paragraph 20
207. 21General
208. 22Paragraph 22
209. 23Paragraph 23
210. Schedule 4: AGGREGATES LEVY: REGISTRATION
211. 1Notification of registrability etc.
212. 2Form of registration
213. 3Notification of loss or prospective loss of registrability
214. 4Cancellation of registration
215. 5Correction of the register etc.
216. 6Supplemental regulations about notifications
217. 7Publication of information on the register
218. 8Interpretation of Schedule
219. Schedule 5: AGGREGATES LEVY: RECOVERY AND INTEREST
220. 1Recovery of levy as debt due
221. 2Assessments of amounts of levy due
222. 3Supplementary assessments
223. 4Time limits for assessments
224. 5Penalty interest on unpaid levy
225. 6Interest on overdue levy paid before assessment
226. 7Penalty interest on levy where no return made
227. 8Ordinary and penalty interest on under-declared levy
228. 9Penalty interest on unpaid ordinary interest
229. 10Penalty interest
230. 11Supplemental provisions about interest
231. 12Assessments to interest
232. 13Further assessments to penalty interest
233. 14Recovery by distress
234. 16Recovery by diligence
235. 17Preferential debts in England and Wales and Northern Ireland
236. 18Preferred debts in Scotland Repealed
237. 19Interpretation of Schedule etc.
238. Schedule 6: AGGREGATES LEVY: EVASION, MISDECLARATION AND NEGLECT
239. Part 1: CRIMINAL OFFENCES
240. 1Evasion
241. 2Misstatements
242. 3Conduct involving evasions or misstatements
243. 4Preparations for evasion
244. 5Criminal proceedings etc.
245. 6Arrest Repealed
246. Part 2: CIVIL PENALTIES
247. 7Evasion Repealed
248. 8Liability of directors etc. for civil penalties Repealed
249. 9Misdeclaration or neglect Repealed
250. 9AIncorrect records etc evidencing claim for tax credit
251. Part 3: INTERPRETATION OF SCHEDULE
252. 10Paragraph 10
253. Schedule 7: AGGREGATES LEVY: INFORMATION AND EVIDENCE ETC
254. 1Provision of information Repealed
255. 2Records
256. 3Evidence of records that are required to be preserved Repealed
257. 4Production of documents Repealed
258. 5Powers in relation to documents produced Repealed
259. 6Entry and inspection Repealed
260. 7Entry and search Repealed
261. 8Order for access to recorded information etc.
262. 9Removal of documents etc.
263. 10Enforcement of paragraph 9
264. 11Power to take samples
265. 12Evidence by certificate
266. 13Inducements to provide information
267. 14Disclosure of information
268. 15Interpretation of Schedule
269. Schedule 8: AGGREGATES LEVY: REPAYMENTS AND CREDITS
270. 1Reimbursement arrangements
271. 2Interest payable by the Commissioners
272. 3Assessment for excessive repayment
273. 4Assessment for overpayments of interest
274. 5Assessments under paragraphs 3 and 4
275. 6Interest on amounts assessed
276. 7Assessments to interest under paragraph 6
277. 8Supplementary assessments
278. 9Set-off of or against amounts due under this Part of this Act
279. 10Set-off of or against other taxes and duties
280. 11Restriction on powers to provide for set-off
281. 12Supplemental provisions of Schedule
282. Schedule 9: AGGREGATES LEVY: GROUP TREATMENT
283. 1Eligibility for group treatment
284. 2Application for group treatment
285. 3Modification of group treatment
286. 4Termination of group treatment
287. 5Applications relating to group treatment
288. 6Notifications relating to group treatment
289. 7Supplemental regulations about applications and notifications
290. 8Interpretation of Schedule
291. Schedule 10: AGGREGATES LEVY: ASSESSMENT OF CIVIL PENALTIES AND INTEREST ON THEM
292. 1Preliminary
293. 2Assessments to penalties etc.
294. 3Further assessments to daily penalties
295. 4Time limits on penalty assessments
296. 5Penalty interest on unpaid penalties
297. 6Supplemental provisions about interest
298. 7Assessments to penalty interest on unpaid penalties
299. 8Further assessments to interest on penalties
300. Schedule 11: CHILDREN’S TAX CREDIT: BABY RATE: SUPPLEMENTARY Repealed
301. 1Introduction Repealed
302. 2Child living with married or unmarried couple Repealed
303. 3Election that credit should go to lower-earning partner Repealed
304. 4Child living with more than one adult: other cases Repealed
305. 5Combined cases Repealed
306. 6Change of circumstances Repealed
307. Schedule 12: MILEAGE ALLOWANCES
308. Part 1: NEW SCHEDULE 12AA TO THE TAXES ACT 1988 Repealed
309. Paragraph Repealed
310. Part 2: CONSEQUENTIAL AMENDMENTS
311. 1The Taxes Act 1988 Repealed
312. 2Paragraph 2 Repealed
313. 3Paragraph 3 Repealed
314. 4Paragraph 4 Repealed
315. 5Paragraph 5 Repealed
316. 6Paragraph 6 Repealed
317. 7Paragraph 7 Repealed
318. 8Paragraph 8 Repealed
319. 9Paragraph 9 Repealed
320. 10Paragraph 10 Repealed
321. 11Paragraph 11
322. 12Paragraph 12 Repealed
323. 13Paragraph 13 Repealed
324. 14Paragraph 14 Repealed
325. 15Paragraph 15 Repealed
326. 16Finance Act 2000 (c. 17) Repealed
327. Schedule 13: EMPLOYEE SHARE OWNERSHIP PLANS: AMENDMENTS Repealed
328. 1Introductory Repealed
329. 2The employment requirement Repealed
330. 3Meaning of “salary” Repealed
331. 4No charge to tax on award of shares, etc. Repealed
332. 5Charge on disposal of beneficial interest during holding period Repealed
333. 6Charge on distributions in respect of unappropriated shares Repealed
334. 7Dividend shares ceasing to be subject to plan: tax credit Repealed
335. 8Gains accruing to trustees Repealed
336. Schedule 14: ENTERPRISE MANAGEMENT INCENTIVES: AMENDMENTS Repealed
337. 1Introductory Repealed
338. 2Period of notice Repealed
339. 3Paragraph 3 Repealed
340. 4General requirements to be met by option Repealed
341. 5Purpose of granting option Repealed
342. 6Value of options in respect of a company’s shares Repealed
343. 7Income tax: option to acquire shares at less than market value Repealed
344. 8Income tax: option to acquire shares at nil cost Repealed
345. 9Disqualifying events: alteration of share capital Repealed
346. 10Paragraph 10 Repealed
347. 11Income tax charge arising on disqualifying event Repealed
348. 12Qualifying requirements for replacement option Repealed
349. 13Commencement Repealed
350. Schedule 15: ENTERPRISE INVESTMENT SCHEME: AMENDMENTS
351. Part 1: INCOME TAX RELIEF Repealed
352. 1Introductory Repealed
353. 2Oil activities Repealed
354. 3Paragraph 3 Repealed
355. 4Paragraph 4 Repealed
356. 5Paragraph 5 Repealed
357. 6Requirement as to the money raised Repealed
358. 7Paragraph 7 Repealed
359. 8Paragraph 8 Repealed
360. 9Repayment supplements Repealed
361. 10Designated period Repealed
362. 11Paragraph 11 Repealed
363. 12Unquoted company requirement Repealed
364. 13Paragraph 13 Repealed
365. 14Royalties and licence fees Repealed
366. 15Value received by individual etc. Repealed
367. 16Paragraph 16 Repealed
368. 17Paragraph 17 Repealed
369. 18Paragraph 18 Repealed
370. 19Repayment of share capital Repealed
371. 20Paragraph 20 Repealed
372. 21Paragraph 21 Repealed
373. 22Claims Repealed
374. 23Information Repealed
375. 24Interpretation Repealed
376. Part 2: POSTPONEMENT OF CHARGEABLE GAIN ON REINVESTMENT
377. 25Introductory
378. 26Requirement as to the money raised Repealed
379. 27Paragraph 27 Repealed
380. 28Paragraph 28 Repealed
381. 29Designated period
382. 30Value received by investor
383. 31Paragraph 31
384. 32Value received by persons other than the investor
385. 33Certain receipts to be disregarded
386. 34Paragraph 34
387. 35Information
388. 36Trustees: anti-avoidance
389. 37Interpretation
390. Part 3: MISCELLANEOUS AND GENERAL
391. 38Loss relief Repealed
392. 39Penalties in connection with returns etc. Repealed
393. 40Commencement
394. Schedule 16: VENTURE CAPITAL
395. Part 1: VENTURE CAPITAL TRUSTS Repealed
396. 1Meaning of “qualifying holdings” Repealed
397. 2Paragraph 2 Repealed
398. 3Income tax relief: repayment supplements Repealed
399. Part 2: CORPORATE VENTURING SCHEME
400. 4Introductory
401. 5Money raised by issue of shares
402. 6Receipt of replacement value
403. 7Paragraph 7
404. 8Value received by other persons
405. 9Insignificant repayments disregarded
406. Schedule 17: CAPITAL ALLOWANCES: ENERGY-SAVING PLANT AND MACHINERY Repealed
407. 1Paragraph 1 Repealed
408. 2Paragraph 2 Repealed
409. 3Paragraph 3 Repealed
410. 4Paragraph 4 Repealed
411. 5Paragraph 5 Repealed
412. 6Paragraph 6 Repealed
413. Schedule 18: CAPITAL ALLOWANCES: FIXTURES PROVIDED IN CONNECTION WITH ENERGY MANAGEMENT SERVICES
414. 1Paragraph 1
415. 2Paragraph 2
416. 3Paragraph 3
417. 4Paragraph 4
418. 5Paragraph 5
419. 6Paragraph 6
420. 7Paragraph 7
421. 8Paragraph 8
422. 9Paragraph 9
423. 10Paragraph 10
424. 11Paragraph 11
425. Schedule 19: CAPITAL ALLOWANCES: CONVERSION OF PARTS OF BUSINESS PREMISES INTO FLATS Repealed
426. Part 1: NEW PART 4A OF THE CAPITAL ALLOWANCES ACT 2001 Repealed
427. Paragraph Repealed
428. Part 2: CONSEQUENTIAL AMENDMENTS Repealed
429. 1Paragraph 1 Repealed
430. 2Paragraph 2 Repealed
431. 3Paragraph 3 Repealed
432. 4Paragraph 4 Repealed
433. 5Paragraph 5 Repealed
434. 6Paragraph 6 Repealed
435. 7Paragraph 7 Repealed
436. 8Paragraph 8 Repealed
437. Schedule 20: CAPITAL ALLOWANCES: OFFSHORE OIL INFRASTRUCTURE
438. Part 1: CHARGEABLE PERIODS ENDING BEFORE 1ST OR 6TH APRIL 2001
439. 1Writing-down allowances: infrastructure from UK or non-UK oil fields
440. 2Ring fence trades: special allowance for pre-cessation abandonment expenditure
441. 3Ring fence trades: allowances for post-cessation expenditure
442. 4Commencement of Part 1
443. Part 2: CHARGEABLE PERIODS ENDING ON OR AFTER 1ST OR 6TH APRIL 2001
444. 5Writing-down allowances: infrastructure from UK or non-UK oil fields
445. 6Ring fence trades: meaning of “abandonment expenditure”
446. 7Ring fence trades: special allowance for pre-cessation expenditure
447. 8Ring fence trades: allowances for post-cessation expenditure
448. 9Commencement of Part 2
449. Schedule 21: CAPITAL ALLOWANCES: MINOR AMENDMENTS
450. 1Thermal insulation of industrial buildings
451. 2Fixtures: purchasers of land and incoming lessees
452. 3Meaning of “sale and finance leaseback”
453. 4Effect of partnership changes
454. 5Enterprise zones Repealed
455. 6Highway concessions Repealed
456. Schedule 22: REMEDIATION OF CONTAMINATED LAND Repealed
457. Part 1: DEDUCTION FOR CAPITAL EXPENDITURE Repealed
458. 1Deduction for capital expenditure Repealed
459. 2Qualifying land remediation expenditure Repealed
460. 3Land in a contaminated state Repealed
461. 4Relevant land remediation Repealed
462. 5Employee costs Repealed
463. 6Expenditure on materials Repealed
464. 7Expenditure incurred because of contamination Repealed
465. 8Subsidised expenditure Repealed
466. 9Qualifying expenditure on sub-contracted land remediation Repealed
467. 10Treatment of expenditure where company and sub-contractor are connected persons Repealed
468. 11Treatment of sub-contractor payment in other cases Repealed
469. Part 2: ENTITLEMENT TO LAND REMEDIATION RELIEF Repealed
470. 12Entitlement to relief Repealed
471. Part 3: MANNER OF GIVING EFFECT TO RELIEF Repealed
472. 13Deduction in computing profits of Schedule A business or trade Repealed
473. 14Entitlement to land remediation tax credit Repealed
474. 15Amount of land remediation tax credit Repealed
475. 16Payment in respect of land remediation tax credit Repealed
476. 17Restriction on losses carried forward Repealed
477. 18Tax credit not income Repealed
478. 19Certain qualifying land remediation expenditure excluded for purposes of capital gains Repealed
479. Part 4: SPECIAL PROVISION FOR LIFE ASSURANCE BUSINESS Repealed
480. 20Limitation on relief Repealed
481. 21Provision in respect of “I minus E” basis Repealed
482. 22Entitlement to relief: “I minus E” basis Repealed
483. 23Giving effect to relief: enhanced expenses payable Repealed
484. 24Entitlement to life assurance company tax credit Repealed
485. 25Amount of life assurance company tax credit Repealed
486. 26Payment in respect of life assurance company tax credit, etc Repealed
487. 27Restriction on carrying forward expenses payable Repealed
488. 28Certain qualifying expenditure excluded for purposes of capital gains Repealed
489. Part 5: SUPPLEMENTARY PROVISIONS Repealed
490. 29Artificially inflated claims for deduction, relief or tax credit Repealed
491. 30Funding of tax credits Repealed
492. 31Interpretation Repealed
493. 32Transitional provisions Repealed
494. Schedule 23: LAND REMEDIATION: CONSEQUENTIAL AMENDMENTS
495. 1Computation under Schedule A Repealed
496. 2Computation of profits of insurance companies Repealed
497. 3Interest
498. 4Claim must be made in tax return
499. 5Recovery of excessive tax credit
500. 6Claims relating to remediation of contaminated land
501. Schedule 24: CREATIVE ARTISTS: RELIEF FOR FLUCTUATING PROFITS
502. Part 1: NEW SCHEDULE 4A TO THE TAXES ACT 1988 Repealed
503. Paragraph Repealed
504. Part 2: CONSEQUENTIAL AMENDMENTS
505. 2Paragraph 2 Repealed
506. 3Paragraph 3
507. 4Paragraph 4 Repealed
508. Schedule 25: LIMITED LIABILITY PARTNERSHIPS: INVESTMENT LLPS AND PROPERTY INVESTMETN LLPS
509. 1Meaning of “investment LLP” and “property investment LLP”
510. 2Pension funds, &c.: exclusion of exemptions from tax in case of income from property investment LLPs
511. 3Pension funds, &c.: exclusion of exemption from trusts rate in case of income from property investment LLPs Repealed
512. 4Pension funds, &c.: exclusion of exemptions in case of gains from property investment LLPs
513. 5Insurance companies: treatment of income or gains arising from property investment LLP Repealed
514. 6Insurance companies: double taxation relief Repealed
515. 7Insurance companies: capital allowances
516. 8Friendly societies: exclusion of exemptions from tax Repealed
517. 9Exclusion of relief on loans to buy into investment LLP Repealed
518. Schedule 26: CAPITAL GAINS TAX: TAPER RELIEF: BUSINESS ASSETS Repealed
519. 1Introductory Repealed
520. 2Conditions for assets other than shares to qualify as business assets Repealed
521. 3Companies which are qualifying companies Repealed
522. 4Meaning of “material interest” Repealed
523. 5Interpretation of Schedule A1 Repealed
524. 6Qualifying shareholdings in joint venture companies Repealed
525. 7Joint enterprise companies: relevant connection Repealed
526. Schedule 27: DOUBLE TAXATION RELIEF
527. 1Computation of income subject to foreign tax Repealed
528. 2Restriction of relief for underlying tax Repealed
529. 3Credit for underlying tax: UK company related through overseas company Repealed
530. 4Dividends that give rise to eligible unrelieved foreign tax Repealed
531. 5The amounts that are eligible unrelieved foreign tax Repealed
532. 6Underlying tax excluded from claim not to be allowed under section 811 Repealed
533. 7Relief for non-resident persons with branches or agencies in the UK Repealed
534. Schedule 28: LIFE POLICIES, LIFE ANNUITIES AND CAPITAL REDEMPTION POLICIES
535. Part 1: ASSIGNMENT OR SURRENDER OF PART OF THE RIGHTS Repealed
536. 1Introductory Repealed
537. 2Interpretation Repealed
538. 3Life policies: chargeable events Repealed
539. 4Life policies: computation of gain Repealed
540. 5Life annuity contracts: chargeable events Repealed
541. 6Life annuity contracts: computation of gain Repealed
542. 7Capital redemption policies: chargeable events Repealed
543. 8The value of a part or share assigned Repealed
544. 9Assignments etc involving co-ownership Repealed
545. 10Charging tax in respect of certain section 546 excesses Repealed
546. 11Method of charging gain to tax Repealed
547. 12Method of charging gain to tax: multiple interests Repealed
548. 13Corresponding deficiency relief Repealed
549. 14Relief where gain charged at higher rate Repealed
550. 15Right of individual to recover tax from trustees Repealed
551. 16Right of company to recover tax from trustees Repealed
552. 17Non-resident policies and off-shore capital redemption policies Repealed
553. Part 2: PROVISION OF INFORMATION BY INSURERS
554. 18Information: duty of insurers
555. 19Duties of overseas insurers’ tax representatives
556. 20Penalties
557. Schedule 29: AMENDMENTS TO MACHINERY OF SELF-ASSESSMENT
558. Part 1: AMENDMENT OR CORRECTION OF RETURN
559. 1Assessment by Revenue treated as included in return
560. 2Power to amend or correct personal or trustee return
561. 3Power to amend or correct partnership return
562. Part 2: ENQUIRIES INTO RETURNS
563. 4Enquiry into personal or trustee return
564. 5Enquiry into partnership return
565. Part 3: REFERRAL OF QESTIONS DURING ENQUIRY
566. 6Enquiry into personal, trustee or partnership return
567. 7Enquiry into company tax return
568. Part 4: PROCEDURE ON COMPLETION OF ENQUIRY
569. 8Procedure on completion of enquiry into personal or trustee return
570. 9Procedure on completion of enquiry into partnership return
571. 10Procedure on completion of enquiry into claims, &c. not included in returns
572. Part 5: MINOR AND CONSEQUENTIAL AMENDMENTS
573. 11Appeals
574. 12Paragraph 12
575. 13Paragraph 13
576. 14Due date for payment after amendment or correction of return
577. 15Paragraph 15
578. 16Paragraph 16
579. 17Effect of return on recovery proceedings
580. 18Other amendments of the Taxes Management Act 1970
581. 19Paragraph 19
582. 20Paragraph 20
583. 21Paragraph 21 Repealed
584. 22Paragraph 22
585. 23Paragraph 23
586. 24Paragraph 24
587. 25Paragraph 25
588. 26Paragraph 26
589. 27Paragraph 27 Repealed
590. 28Paragraph 28 Repealed
591. 29Paragraph 29
592. 30Paragraph 30
593. 31Paragraph 31
594. 32Paragraph 32 Repealed
595. 33Paragraph 33
596. 34Paragraph 34
597. 35Consequential amendments of other enactments Repealed
598. 36Paragraph 36 Repealed
599. 37Paragraph 37
600. 38Paragraph 38
601. 39Paragraph 39
602. 40Paragraph 40
603. Schedule 30
604. 1Paragraph 1
605. Schedule 31: VALUE ADDED TAX: RE-ENACTMENT OF REDUCED RATE PROVISIONS
606. Part 1: NEW SCHEDULE 7A TO THE VALUE ADDED TAX ACT 1994
607. 1Paragraph 1
608. Part 2: CONSEQUENTIAL AMENDMENTS
609. 2Value Added Tax Act 1994 (c.23)
610. 3Paragraph 3
611. 4Paragraph 4
612. 5Paragraph 5
613. 6Paragraph 6
614. 7Finance Act 2000 (c.17)
615. Schedule 32: PETROLEUM REVENUE TAX: UNRELIEVABLE FIELD LOSSES
616. 1Schedule applies where there has been a transfer to which Parts 2 and 3 of Schedule 17 to the Finance Act 1980 do not apply
617. 2Meaning of “excluded transfer”
618. 3Meaning of “subsequent new owner”
619. 4Transfers of interests in oil fields: interpretation
620. 5Schedule applies in place of section 6(1C) of the Oil Taxation Act 1975
621. 6General rule for determinations under this Schedule of “unrelievable portion” of loss
622. 7Loss to be relieved against other participators’ profits
623. 8Extent to which losses to be relieved
624. 9Profits not to be utilised more than once
625. 10Relieving different losses against the same profits
626. 11Construction as one with Part 1 of the Oil Taxation Act 1975
627. Schedule 33: REPEALS
628. 1EXCISE DUTIES
629. 1Paragraph 1
630. 2Paragraph 2
631. 2INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
632. 1Paragraph 1
633. 2Paragraph 2
634. 3Paragraph 3
635. 4Paragraph 4
636. 5Paragraph 5
637. 6Paragraph 6
638. 1Paragraph 1
639. 2Paragraph 2
640. 1Paragraph 1
641. 2Paragraph 2
642. 3OTHER TAXES
643. 1Paragraph 1
644. 2Paragraph 2
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646. 2Paragraph 2