OpenLegislation

Finance Act 2004

2004 c. 12 · Enacted 22 July 2004 · Extends to United Kingdom

Not fully up to date. 15 changes made by later legislation have not yet been written into this text, which is revised to 14 July 2026.

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Sch. 26 para. 16(1)omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 14(5)(b)omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 14(7)omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 15omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 1(1)omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 2(1)omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 4omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 5omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 6(3)-(6)omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 7-9omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 14(2)omittedFinance Act 2008 s. 41(7)(g)
Sch. 26 para. 14(3)omittedFinance Act 2008 s. 41(7)(g)
Sch. 35 para. 10repealedFinance Act 2012 Sch. 39 para. 28(1)
Sch. 35 para. 9repealedFinance Act 2012 Sch. 39 para. 28(1)
s. 202(5)omittedFinance Act 2013 s. 52(6)
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.[22nd July 2004]

Most 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 to 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:—C1C2

Annotations to the whole text

Modifications

C1

Act modified (1.7.2008) (N.I.) (with effect in accordance with reg. 1 of the amending Rule) by The Health and Social Care (Pension Scheme) Regulations (Northern Ireland) 2008 (S.R. 2008/256), reg. 88(1) (with regs. 134, 258)

C2

Act modified (1.7.2008) (N.I.) (with effect in accordance with reg. 1 of the amending Rule) by The Health and Social Care (Pension Scheme) Regulations (Northern Ireland) 2008 (S.R. 2008/256), reg. 215(1) (with regs. 134, 258)

Contents

  1. Part 1: Excise duties
  2. Tobacco products duty
  3. 1Rates of tobacco products duty
  4. Alcoholic liquor duties
  5. 2Rate of duty on beer
  6. 3Rates of duty on wine and made-wine
  7. 4Duty stamps for spirits etc
  8. Hydrocarbon oil etc duties
  9. 5Rates
  10. 6Road fuel gas
  11. 7Sulphur-free fuel
  12. 8Definition of “fuel oil”
  13. 9Mixing of rebated oil
  14. 10Bioethanol
  15. 11Biodiesel
  16. 12Fuel substitutes
  17. 13Warehousing
  18. 14Treatment of certain energy products
  19. Betting and gaming duties
  20. 15General betting duty: pool betting
  21. 16Rates of gaming duty
  22. Amusement machine licence duty
  23. 17Amusement machine licence duty: rates
  24. Vehicle excise duty
  25. 18Fee for payment of duty by credit card
  26. Part 2: Value added tax
  27. 19Disclosure of VAT avoidance schemes
  28. 20Groups
  29. 21Reverse charge on gas and electricity supplied by persons outside UK
  30. 22Use of stock in trade cars for consideration less than market value
  31. Part 3: Income tax, corporation tax and capital gains tax
  32. Chapter 1: Income tax and corporation tax charge and rate bands
  33. Income tax
  34. 23Charge and rates for 2004-05 Repealed
  35. 24Personal allowances for those aged 65 or more Repealed
  36. Corporation tax
  37. 25Charge and main rate for financial year 2005
  38. 26Small companies' rate and fraction for financial year 2004 Repealed
  39. 27Corporation tax starting rate and fraction for financial year 2004
  40. 28The non-corporate distribution rate Repealed
  41. Trusts
  42. 29Special rates of tax applicable to trusts Repealed
  43. Chapter 2: Corporation tax: general
  44. Transfer pricing
  45. 30Provision not at arm’s length: transactions between UK taxpayers etc Repealed
  46. 31Exemptions for dormant companies and small and medium-sized enterprises Repealed
  47. 32Special applications of paragraph 6 of Schedule 28AA to the Taxes Act 1988 Repealed
  48. Penalties: temporary relaxation
  49. 33Provision not at arm’s length: temporary relaxation of liability to penalty
  50. Thin capitalisation
  51. 34Payments of excessive interest etc
  52. 35Elimination of double counting etc Repealed
  53. 36Balancing payments and elections to pay tax instead Repealed
  54. Transfer pricing and thin capitalisation: commencement
  55. 37Commencement and transitional provisions
  56. Expenses of companies with investment business and insurance companies
  57. 38Expenses of management: companies with investment business Repealed
  58. 39Accounting period to which expenses of management are referable Repealed
  59. 40Expenses of insurance companies Repealed
  60. 41Related amendments to other enactments Repealed
  61. 42Commencement of sections 38 to 41
  62. 43Companies with investment business: transitional provisions
  63. 44Insurance companies: transitional provisions Repealed
  64. Amounts reversing expenses of management deducted
  65. 45Amounts reversing expenses of management deducted: charge to tax
  66. Power to make consequential amendments
  67. 46Power to make consequential amendments
  68. Insurance companies: miscellaneous
  69. 47Insurance companies etc.
  70. Loan relationships and derivative contracts
  71. 48Loan relationships: miscellaneous amendments Repealed
  72. 49Derivative contracts: miscellaneous amendments
  73. Accounting practice
  74. 50Generally accepted accounting practice Repealed
  75. 51Use of different accounting practices within a group of companies Repealed
  76. 52Amendment of enactments that operate by reference to accounting practice
  77. 53Treatment of expenditure on research and development
  78. 54Trading profits etc. from securities: taxation of amounts taken to reserves Repealed
  79. Miscellaneous
  80. 55Duty of company to give notice of coming within charge to corporation tax
  81. 55ASection 55: exception to duty to give notice
  82. 56Relief for community amateur sports clubs Repealed
  83. Chapter 3: Construction industry scheme
  84. Introduction
  85. 57Introduction
  86. 58Sub-contractors
  87. 59Contractors
  88. Deductions on account of tax from contract payments to sub-contractors
  89. 60Contract payments
  90. 61Deductions on account of tax from contract payments
  91. 62Treatment of sums deducted
  92. Liability for things done in the knowledge of deliberate failures to comply
  93. 62APayments made in the knowledge of deliberate failures to comply
  94. 62BReturns made in the knowledge of deliberate failures to comply
  95. 62CRegulations
  96. Registration of sub-contractors
  97. 63Registration for gross payment or for payment under deduction
  98. 64Requirements for registration for gross payment
  99. 65Change in control of company registered for gross payment
  100. 66Cancellation of registration for gross payment
  101. 67Registration for gross payment: appeals
  102. 68Registration for payment under deduction: cancellation and appeals
  103. Verification, returns , security etc and penalties
  104. 69Verification etc of registration status of sub-contractors
  105. 70Periodic returns by contractors etc
  106. 70ASecurity for payments to HMRC
  107. 71Collection and recovery of sums to be deducted
  108. 72Penalties: false statements and documentation
  109. 72APenalties: deliberate failures to comply
  110. 72BPenalties under section 72A: officers’ liability
  111. 72CAppeals in relation to a decision notice under section 72B
  112. Supplementary
  113. 73Regulations under this Chapter: supplementary
  114. 73ADesignated international organisations: exemption from section 59
  115. 74Meaning of “construction operations”
  116. 75Meaning of “the Inland Revenue” etc and delegation of Board’s functions
  117. 76Consequential amendments
  118. 77Commencement and transitional provision
  119. Chapter 4: Personal taxation
  120. Taxable benefits
  121. 78Childcare and childcare vouchers
  122. 79Exemption for loaned computer equipment Repealed
  123. 80Vans
  124. 81Emergency vehicles
  125. 82European travel expenses of MPs and other representatives
  126. Gift aid
  127. 83Giving through the self-assessment return Repealed
  128. Gifts with a reservation
  129. 84Charge to income tax by reference to enjoyment of property previously owned
  130. Employment-related securities and options
  131. 85Relief where national insurance contributions met by employee
  132. 86Shares in employee-controlled companies and unconnected companies
  133. 87Restricted securities with artificially depressed value
  134. 88Shares under approved plans and schemes
  135. 89Shares acquired on public offer
  136. 90Associated persons etc.
  137. Miscellaneous
  138. 91Income of spouses: jointly held property Repealed
  139. 92Minor amendments of or connected with ITEPA 2003
  140. Chapter 5: Enterprise incentives
  141. 93Enterprise investment scheme
  142. 94Venture capital trusts
  143. 95Corporate venturing scheme
  144. 96Enterprise management incentives: subsidiaries
  145. Chapter 6: Exemption from income tax for certain interest and royalty payments
  146. Introductory
  147. 97Introductory Repealed
  148. Exemption from income tax
  149. 98Exemption from income tax for certain interest and royalty payments Repealed
  150. 99Permanent establishments and “25% associates” Repealed
  151. Exemption notices
  152. 100Interest payments: exemption notices Repealed
  153. Payment without deduction
  154. 101Payment of royalties without deduction at source Repealed
  155. 102Claim for tax deducted at source from exempt interest or royalty payments Repealed
  156. Special relationships and anti-avoidance
  157. 103Special relationships Repealed
  158. 104Anti-avoidance Repealed
  159. Supplementary
  160. 105Consequential amendments
  161. 106Transitional provision Repealed
  162. Chapter 7: Savings income: double taxation arising from withholding tax
  163. Introductory
  164. 107Introductory Repealed
  165. Credit etc for special withholding tax
  166. 108Income tax credit etc for special withholding tax Repealed
  167. 109Capital gains tax credit etc for special withholding tax Repealed
  168. 110Credit under Part 18 of Taxes Act 1988 to be allowed first Repealed
  169. Computation of income etc
  170. 111Computation of income etc subject to special withholding tax only Repealed
  171. 112Computation of income etc subject to foreign tax and special withholding tax
  172. Certificates to avoid levy of special withholding tax
  173. 113Issue of certificate Repealed
  174. 114Refusal to issue certificate and appeal against refusal Repealed
  175. SupplementaryM
  176. 115Supplementary
  177. Chapter 8: Chargeable gains
  178. 116Restriction of gifts relief etc
  179. 117Private residence relief
  180. 118Authorised unit trusts: treatment of umbrella schemes
  181. Chapter 9: Avoidance involving loss relief or partnership
  182. Individuals benefited by film relief
  183. 119Individuals benefited by film relief Repealed
  184. 120“Disposal of a right of the individual to profits arising from the trade” Repealed
  185. 121“The losses claimed” and “the individual’s capital contribution to the trade” Repealed
  186. 122Computing the chargeable amount Repealed
  187. 122APartners: meaning of “capital contribution to the trade” Repealed
  188. 123“Film-related losses” and “non-taxable consideration” Repealed
  189. Individuals in partnership: restriction of relief
  190. 124Restriction of relief: non-active partners Repealed
  191. 125Partnerships exploiting films Repealed
  192. Individuals in partnership: exit charge
  193. 126Losses derived from exploiting licence: introductory Repealed
  194. 127Charge to income tax Repealed
  195. 128Definitions for purposes of section 127 Repealed
  196. 129Disposals to which section 126 applies Repealed
  197. 130“A significant amount of time” Repealed
  198. Companies in partnership
  199. 131Companies in partnership Repealed
  200. 132Companies in partnership: supplementary Repealed
  201. 133Relationship with chargeable gains Repealed
  202. Chapter 10: Avoidance: miscellaneous
  203. 134Finance leasebacks
  204. 135Rent factoring of leases of plant or machinery Repealed
  205. 136Manufactured dividends
  206. 137Manufactured payments under arrangements having an unallowable purpose
  207. 138Gilt strips Repealed
  208. 139Gifts of shares, securities and real property to charities etc Repealed
  209. 140Life policies etc.: restriction of corresponding deficiency relief Repealed
  210. Chapter 11: Miscellaneous
  211. Reliefs for business
  212. 141Relief for research and development: software and consumable items Repealed
  213. 142Temporary increase in amount of first-year allowances for small enterprises Repealed
  214. 143Deduction for expenditure by landlords on energy-saving items Repealed
  215. 144Lloyd’s names: conversion to limited liability underwriting
  216. Offshore matters
  217. 145Offshore funds
  218. 146Meaning of “offshore installation”
  219. Health
  220. 147Immediate needs annuities
  221. 148Corporation tax: health service bodies Repealed
  222. Part 4: Pension schemes etc
  223. Chapter 1: Introduction
  224. Introductory
  225. 149Overview of Part 4
  226. Main concepts
  227. 150Meaning of “pension scheme”
  228. 151Meaning of “member”
  229. 152Meaning of “arrangement”
  230. Chapter 2: Registration of pension schemes
  231. Registration
  232. 153Registration of pension schemes
  233. 153APower to require information or documents in relation to applications for registration
  234. 153BPower to inspect documents in relation to applications for registration
  235. 153CPenalties for failure to comply with information notices etc
  236. 153DPenalties for inaccurate information in applications
  237. 153EPenalties for inaccurate information or documents provided under information notice
  238. 153FPenalties for false declarations
  239. 154Persons by whom registered pension scheme may be established
  240. 155Persons by whom scheme may be established: supplementary Repealed
  241. 156Appeal against decision not to register
  242. 156ACases where application for registration not decided within 6 months
  243. De-registration
  244. 157De-registration
  245. 158Grounds for de-registration
  246. 159Appeal against decision to de-register
  247. 159APower to require information or documents for purpose of considering if scheme administrator is fit and proper
  248. 159BPower to inspect documents for purpose of considering if scheme administrator is fit and proper
  249. 159CPenalties for failure to comply with information notices etc
  250. 159DPenalties for inaccurate information or documents provided under information notice
  251. Chapter 3: Payments by registered pension schemes
  252. Introductory
  253. 160Payments by registered pension schemes
  254. 161Meaning of “payment” etc
  255. 162Meaning of “loan”
  256. 163Meaning of “borrowing” etc
  257. Authorised member payments
  258. 164Authorised member payments
  259. 165Pension rules
  260. 166Lump sum rule
  261. 167Pension death benefit rules
  262. 168Lump sum death benefit rule
  263. 169Recognised transfers
  264. 170Appeal against decision to exclude recognised overseas pension scheme
  265. 171Scheme administration member payments
  266. Unauthorised member payments
  267. 172Assignment
  268. 172ASurrender
  269. 172BIncrease in rights of connected person on death
  270. 172BAIncrease in rights on death arising from alternatively secured pension fund etc Repealed
  271. 172CAllocation of unallocated employer contributions
  272. 172DLimit on increase in benefits
  273. 173Benefits
  274. 174Value shifting
  275. 174ATaxable property held by investment-regulated pension schemes
  276. Authorised employer payments
  277. 175Authorised employer payments
  278. 176Public service scheme payment
  279. 177Authorised surplus payment
  280. 178Compensation payments
  281. 179Authorised employer loan
  282. 180Scheme administration employer payments
  283. Unauthorised employer payments
  284. 181Value shifting
  285. Alternatively secured pensions
  286. 181AMinimum level of payment Repealed
  287. Borrowing
  288. 182Unauthorised borrowing: money purchase arrangements other than collective money purchase arrangements
  289. 183Effect of unauthorised borrowing: money purchase arrangements other than collective money purchase arrangements
  290. 184Unauthorised borrowing: other arrangements
  291. 185Effect of unauthorised borrowing: other arrangements
  292. Income and gains from taxable property
  293. 185AIncome from taxable property
  294. 185BAnnual profits and deemed profits
  295. 185CDeemed market value
  296. 185DApportionment to pension scheme
  297. 185ECredit for tax paid
  298. 185FGains from taxable property
  299. 185GDisposal by person holding directly
  300. 185HDisposal of interest in vehicle
  301. 185ICredit for tax paid
  302. Repayments of lump sums
  303. 185JEffect of repayment of certain pre-6 April 2015 lump sums
  304. Chapter 4: Registered pension schemes: tax reliefs and exemptions
  305. Scheme investments
  306. 186Income
  307. 187Chargeable gains
  308. Members' contributions
  309. 188Relief for contributions
  310. 189Relevant UK individual
  311. 190Annual limit for relief
  312. 191Methods of giving relief
  313. 192Relief at source
  314. 192ARelief at source: additional relief
  315. 192BRelief at source: excessive relief given
  316. 193Relief under net pay arrangements
  317. 193ANet pay arrangements: disparity with relief at source
  318. 194Relief on making of claim
  319. 195Transfer of certain shares to be treated as payment of contribution
  320. 195ALife assurance premium contributions
  321. Employers' contributions
  322. 196Relief for employers in respect of contributions paid
  323. 196APower to restrict relief
  324. 196BEmployer asset-backed contributions: denial of relief (1)
  325. 196CEmployer asset-backed contributions: “acceptable structured finance arrangement” (1)
  326. 196DEmployer asset-backed contributions: denial of relief (2)
  327. 196EEmployer asset-backed contributions: “acceptable structured finance arrangement” (2)
  328. 196FEmployer asset-backed contributions: denial of relief (3)
  329. 196GEmployer asset-backed contributions: “acceptable structured finance arrangement” (3)
  330. 196HEmployer asset-backed contributions: “relevant change in relation to the partnership” and “person involved in the relevant change”
  331. 196IEmployer asset-backed contributions: change in lender's original position under acceptable structured finance arrangement etc
  332. 196JEmployer asset-backed contributions: further events which cause section 196I to apply
  333. 196KEmployer asset-backed contributions: “advances” under acceptable structured finance arrangements
  334. 196LEmployer asset-backed contributions: supplementary
  335. 197Spreading of relief
  336. 198Spreading of relief: cessation of business
  337. 199Deemed contributions
  338. 199AIndirect contributions
  339. 200No other relief for employers in connection with contributions
  340. 201Relief for employees
  341. Inland Revenue contributions
  342. 202Minimum contributions under pensions legislation
  343. Inheritance tax exemptions
  344. 203Inheritance tax exemptions
  345. Chapter 5: Registered pension schemes: tax charges
  346. Charges on authorised payments
  347. 204Authorised pensions and lump sums
  348. 205Short service refund lump sum charge
  349. 205ASerious ill-health lump sum charge Repealed
  350. 206Special lump sum death benefits charge
  351. 206APartial repayment of section 206 charge where IHT paid by recipient of benefit
  352. 206BSupplementary charge on refund of overpaid IHT
  353. 207Authorised surplus payments charge
  354. Unauthorised payments charge
  355. 208Unauthorised payments charge
  356. 209Unauthorised payments surcharge
  357. 210Surchargeable unauthorised member payments
  358. 211Valuation of crystallised rights for purposes of section 210
  359. 212Valuation of uncrystallised rights for purposes of section 210
  360. 213Surchargeable unauthorised employer payments
  361. ...
  362. 213AHigh income excess relief charge Repealed
  363. 213BHigh income Repealed
  364. 213CGross income Repealed
  365. 213DRelevant income Repealed
  366. 213EThe appropriate rate Repealed
  367. 213FTotal pension savings amount Repealed
  368. 213GMoney purchase arrangements other than cash balance arrangements Repealed
  369. 213HCash balance arrangements Repealed
  370. 213IAdjustment of closing rights Repealed
  371. 213JDefined benefits arrangements Repealed
  372. 213KAdjustment of closing pension and lump sum Repealed
  373. 213LAge-related factors Repealed
  374. 213MUprating of opening rights, pension and lump sum Repealed
  375. 213NHybrid arrangements Repealed
  376. 213OAnti-avoidance Repealed
  377. 213PPower to make regulations about charge Repealed
  378. ...
  379. 214Lifetime allowance charge Repealed
  380. 215Amount of charge Repealed
  381. 216Benefit crystallisation events and amounts crystallised Repealed
  382. 217Persons liable to charge Repealed
  383. 218Individual’s lifetime allowance and standard lifetime allowance Repealed
  384. 219Availability of individual’s lifetime allowance Repealed
  385. 220Pension credits from previously crystallised rights Repealed
  386. 221Non-residence: general Repealed
  387. 222Non-residence: money purchase arrangements Repealed
  388. 223Non-residence: other arrangements Repealed
  389. 224Transfers from recognised overseas pension scheme: general Repealed
  390. 225Overseas scheme transfers: money purchase arrangements Repealed
  391. 226Overseas scheme transfers: other arrangements Repealed
  392. Annual allowance charge
  393. 227Annual allowance charge
  394. 227ZAThe chargeable amount
  395. 227AIndividuals who meet flexible drawdown conditions Repealed
  396. 227BThe alternative chargeable amount
  397. 227CMeaning of “money-purchase input sub-total”
  398. 227DPension input amounts in respect of certain hybrid arrangements
  399. 227EPension input periods ending before rights are first flexibly accessed Repealed
  400. 227FPension input periods in which rights are first flexibly accessed
  401. 227GWhen pension rights are first flexibly accessed
  402. 228Annual allowance
  403. 228ZATapered reduction of annual allowance: high-income individual
  404. 228ZBAnti-avoidance in connection with section 228ZA
  405. 228ACarry forward of unused annual allowance
  406. 228BCarry forward: certain periods treated as pension input periods
  407. 228CAnnual allowance for, and carry-forward from, 2015-16
  408. 229Total pension input amount
  409. 230Cash balance arrangements
  410. 231Cash balance arrangements: uprating of opening value
  411. 232Cash balance arrangements: adjustments of closing value
  412. 233Other money purchase arrangements
  413. 234Defined benefits arrangements
  414. 235Defined benefits arrangements: uprating of opening value
  415. 236Defined benefits arrangements: adjustments of closing value
  416. 236ZADefined benefits arrangements: public service pension schemes
  417. 236APost-entitlement enhancements
  418. 237Hybrid arrangements
  419. 237ZAPension input amounts for input periods ending in 2015-16
  420. 237ALiability of individual
  421. 237BLiability of scheme administrator
  422. 237BATime limit for notices under section 237B
  423. 237CExceptions
  424. 237DDischarge of scheme administrator's liability
  425. 237EConsequential benefit adjustments to be reasonable etc
  426. 237FPower to modify rules
  427. 238Pension input period : arrangement commencing before 9 July 2015
  428. 238ZAPension input periods from 9 July 2015 for existing arrangement
  429. 238ZBPension input periods for arrangement commencing after 8 July 2015
  430. 238APower to make orders about charge
  431. Scheme sanction charge
  432. 239Scheme sanction charge
  433. 240Amount of charge
  434. 241Scheme chargeable payment
  435. De-registration charge
  436. 242De-registration charge
  437. Chapter 5A: Registered pension schemes established outside the United Kingdom
  438. 242AMeaning of “non-UK registered scheme”
  439. 242BMeaning of “UK-relieved funds”
  440. 242CApplication of this Part to non-UK registered schemes
  441. 242DNon-UK registered schemes: annual allowance charge
  442. 242EInvestment-regulated non-UK registered schemes
  443. Chapter 6: Schemes that are not registered pension schemes
  444. Non-UK schemes
  445. 243Overseas pension schemes: migrant member relief
  446. 244Non-UK schemes: application of certain charges
  447. Non-UK schemes: the overseas transfer charge
  448. 244AOverseas transfer charge Repealed
  449. 244AAOverseas transfer charge: introduction
  450. 244ABOverseas transfer charge: interpretation
  451. 244ACOverseas transfer charge: transfers where no exclusion applies
  452. 244BExclusion: member and receiving scheme in same country
  453. 244CExclusion: receiving scheme in EEA state or Gibraltar, and member resident in UK or EEA state Repealed
  454. 244DExclusion: receiving scheme is an occupational pension scheme
  455. 244EExclusion: receiving scheme set up by international organisation
  456. 244FExclusion: receiving scheme is an overseas public service scheme
  457. 244GExclusions: avoidance of double charge, and transitional protections
  458. 244HPower to provide for further exclusions
  459. 244ICircumstances in which exclusions do not apply
  460. 244IAOverseas transfer charge: transfers exceeding available allowance
  461. 244IBMember’s overseas transfer allowance
  462. 244ICAvailability of member’s overseas transfer allowance
  463. 244IDInformation to be provided by relieved relevant non-UK scheme on block transfer
  464. 244JPersons liable to charge
  465. 244JAAmount of charge
  466. 244KMeaning of “transferred value”
  467. 244LAccounting for overseas transfer charge by scheme managers
  468. 244MRepayments of charge on subsequent excluding events
  469. 244NDischarge of liability of scheme administrator or manager
  470. Employer-financed retirement benefit schemes
  471. 245Restriction of deduction for contributions by employer
  472. 246Restriction of deduction for non-contributory provision
  473. 246ACase where no relief for provision by an employer
  474. 247Abolition of income tax charge in respect of employer payments
  475. 248Employer’s cost of insuring against non-payment of benefit
  476. 249Taxation of non-pension benefits
  477. Chapter 7: Compliance
  478. Information
  479. 250Registered pension scheme return
  480. 251Information: general requirements
  481. 252Notices requiring documents or particulars Repealed
  482. 253Appeal against notices Repealed
  483. Accounting and assessment
  484. 254Accounting for tax by scheme administrators
  485. 255Assessments under this Part
  486. Payment
  487. 255AElectronic payment
  488. 255BPayments to be cleared payments
  489. Registration regulations
  490. 256Enhanced ... allowance regulations
  491. Penalties
  492. 257Registered pension scheme return
  493. 258Information required by regulations
  494. 259Documents and particulars required by notice Repealed
  495. 260Accounting return
  496. 261Enhanced ... allowance regulations: documents and information
  497. 262Enhanced ... allowance regulations: failures to comply
  498. 263... Enhanced protection: benefit accrual
  499. 264False statements etc
  500. 265Winding-up to facilitate payment of lump sums
  501. 266Transfers to insured schemes
  502. Relief from liability in respect of returned unauthorised member payments
  503. 266AMember's liability
  504. 266BScheme's liability
  505. Discharge of tax liability: good faith
  506. 267Lifetime allowance charge Repealed
  507. 268Unauthorised payments surcharge and scheme sanction charge
  508. 269Appeal against decision on discharge of liability
  509. Scheme administrator
  510. 270Meaning of “scheme administrator”
  511. 271Liability of scheme administrator
  512. 272Trustees etc. liable as scheme administrator
  513. 272ALiabilities of independent trustee
  514. 272BLiabilities of scheme administrator appointed by independent trustee etc
  515. 272CFormer scheme administrator etc to retain liability
  516. 273Members liable as scheme administrator
  517. 273ZAIncome and gains from taxable property
  518. 273AInsurance company liable as scheme administrator
  519. 273BPower of trustees or managers to make certain payments
  520. 274Supplementary
  521. Chapter 8: Supplementary
  522. Master Trust schemes, collective money purchase schemes etc
  523. 274ZZAMaster Trust schemes
  524. 274ZZBCollective money purchase schemes
  525. 274ZZCPower to make provision about collective money purchase schemes
  526. 274ZASchemes treated as occupational pension schemes
  527. Dormant pension benefits
  528. 274ZBTreatment of pension benefits reclaimed from reclaim fund etc
  529. Interpretation
  530. 274APower to split schemes
  531. 275Insurance company
  532. 276Relevant valuation factor
  533. 277Valuation assumptions
  534. 278Market value
  535. 278ADisqualifying pension credits
  536. 278BAnnuities and scheme pensions: meaning of “related to”
  537. 279Other definitions
  538. 280Abbreviations and general index
  539. Other supplementary provisions
  540. 281Minor and consequential amendments
  541. 282Orders and regulations
  542. 283Transitionals and savings
  543. 284Commencement
  544. Part 5: Oil
  545. 285Certain receipts not to be tariff receipts
  546. 286Petroleum extraction activities: exploration expenditure supplement
  547. 287Restrictions on expenditure allowable
  548. 288Terminal losses
  549. Part 6: Other taxes
  550. Climate change levy
  551. 289Supplies to producers of commodities
  552. Aggregates levy
  553. 290Transitional tax credit in Northern Ireland: changes to existing scheme
  554. 291Transitional tax credit in Northern Ireland: new scheme
  555. Lorry road-user charge
  556. 292Lorry road-user charge
  557. Inheritance tax
  558. 293Delivery of accounts etc
  559. 294Grant of probate
  560. 295Amendments to penalty regime
  561. Stamp duty land tax and stamp duty
  562. 296Miscellaneous amendments
  563. Stamp duty land tax
  564. 297Leases
  565. 298Notification, registration and penalties
  566. 299Claims not included in returns
  567. 300Assents and appropriations by personal representatives
  568. 301Chargeable consideration
  569. 302Charities relief
  570. 303Shared ownership leases
  571. 304Application to certain partnership transactions
  572. 305Liability of partners
  573. Part 7: Disclosure of tax avoidance schemes
  574. 305AIntroduction
  575. 306Meaning of “notifiable arrangements” and “notifiable proposal”
  576. 306ADoubt as to notifiability
  577. 307Meaning of “promoter”
  578. 308Duties of promoter
  579. 308ASupplemental information
  580. 309Duty of person dealing with promoter outside United Kingdom
  581. 310Duty of parties to notifiable arrangements not involving promoter
  582. 310ADuty to provide further information requested by HMRC
  583. 310BFailure to provide information under section 310A: application to the Tribunal
  584. 310CDuty of promoters to provide updated information
  585. 310DNotice of potential allocation of reference number: arrangements and proposals suspected of being notifiable
  586. 311Allocation of reference number to arrangements
  587. 311ADuty of HMRC to notify persons of reference number
  588. 311BRight of appeal: section 311(3) case
  589. 311CDuty to provide further information requested by HMRC: section 311(3) case
  590. 312Duty of promoter to notify client of number : section 311(2) case
  591. 312ZADuty to notify client of reference number: section 311(3) case
  592. 312ADuty of client to notify parties of number
  593. 312BDuty of client to provide information ...
  594. 313Duty of parties to notify HMRC of reference number etc
  595. 313ZADuty to provide details of clients
  596. 313ZBEnquiry following disclosure of client details
  597. 313ZCDuty of employer to notify HMRC of details of employees etc
  598. 313APre-disclosure enquiry
  599. 313BReasons for non-disclosure: supporting information
  600. 313CProvision of information to HMRC by introducers
  601. 314Legal professional privilege
  602. 314AOrder to disclose
  603. 315Penalties
  604. 315AFurther penalties
  605. 315BDetermination of penalties
  606. 315CFailure to comply with time limit
  607. 315DOther exemptions from liability to a penalty
  608. 315ERegulations to vary amounts
  609. 316Information to be provided in form and manner specified by HMRC
  610. 316ADuty to provide additional information
  611. 316BConfidentiality
  612. 316CPublication by HMRC
  613. 316DSection 316C: subsequent judicial rulings
  614. 317Regulations under Part 7
  615. 317ASpecial Commissioners: procedure Repealed
  616. 318Interpretation of Part 7
  617. 319Part 7: commencement and savings
  618. Part 8: Miscellaneous matters
  619. 320Exclusion of extended limitation period in England, Wales and Northern Ireland
  620. 321Exclusion of extended prescriptive period in Scotland
  621. 322Mutual assistance: customs union with the Principality of Andorra
  622. 323Ending of shipbuilders' relief
  623. 324Government borrowing: preparations for possible adoption of Euro
  624. 325Premium bonds
  625. Part 9: Supplementary provisions
  626. 326Repeals
  627. 327Interpretation
  628. 328Short title
  629. Schedule 1: New Schedule 2A to the Alcoholic Liquor Duties Act 1979
  630. Paragraph
  631. Schedule 2: Disclosure of value added tax avoidance schemes
  632. Part 1: Principal amendments of Value Added Tax Act 1994
  633. 1Paragraph 1
  634. 2Paragraph 2
  635. Part 2: Consequential amendments
  636. 3Paragraph 3
  637. 4Paragraph 4
  638. 5Paragraph 5
  639. 6Paragraph 6
  640. Schedule 3: Corporation tax: the non-corporate distribution rate: supplementary provisions Repealed
  641. Part 1: General provisions Repealed
  642. Introduction Repealed
  643. 1Paragraph 1 Repealed
  644. Meaning of “non-corporate distribution” Repealed
  645. 2Paragraph 2 Repealed
  646. Calculation of company’s “underlying rate of corporation tax” Repealed
  647. 3Paragraph 3 Repealed
  648. Matching: distributions not exceeding basic profits Repealed
  649. 4Paragraph 4 Repealed
  650. Matching: distributions exceeding basic profits Repealed
  651. 5Paragraph 5 Repealed
  652. Part 2: Allocation of excess NCDs to other companies Repealed
  653. Allocation of excess NCDs to other companies Repealed
  654. 6Paragraph 6 Repealed
  655. Allocation of excess NCDs to other group companies Repealed
  656. 7Paragraph 7 Repealed
  657. Allocation of excess NCDs: period or periods to which amount to be allocated Repealed
  658. 8Paragraph 8 Repealed
  659. Allocation of excess NCDs: degrouping Repealed
  660. 9Paragraph 9 Repealed
  661. Allocation of excess NCDs: procedure Repealed
  662. 10Paragraph 10 Repealed
  663. Allocation of excess NCDs: amounts proving to be excessive Repealed
  664. 11Paragraph 11 Repealed
  665. Allocation of excess NCDs to companies not resident in the United Kingdom Repealed
  666. 12Paragraph 12 Repealed
  667. Part 3: Other supplementary provisions Repealed
  668. Carry forward of excess NCDs Repealed
  669. 13Paragraph 13 Repealed
  670. Definition of a group Repealed
  671. 14Paragraph 14 Repealed
  672. Accounting period treated as ending if company ceases to be a member of a group Repealed
  673. 15Paragraph 15 Repealed
  674. Treatment of distributions made otherwise than in an accounting period Repealed
  675. 16Paragraph 16 Repealed
  676. Holding companies treated as carrying on a business Repealed
  677. 17Paragraph 17 Repealed
  678. Interpretation Repealed
  679. 18Paragraph 18 Repealed
  680. Schedule 4: Amendments relating to the rate applicable to trusts
  681. Sums paid to settlor otherwise than as income
  682. 1Paragraph 1 Repealed
  683. Trustees chargeable to income tax at 30 per cent in certain cases
  684. 2Paragraph 2 Repealed
  685. Commencement
  686. 3Paragraph 3 Repealed
  687. Schedule 5: Provision not at arm’s length: related amendments
  688. Taxes Management Act 1970
  689. Notice of enquiry
  690. 1Paragraph 1
  691. Income and Corporation Taxes Act 1988
  692. 2Paragraph 2 Repealed
  693. Petroleum extraction activities: ring fence trade: charges on income
  694. 3Paragraph 3
  695. Assumptions for calculating chargeable profits etc: transfer pricing
  696. 4Paragraph 4
  697. Finance Act 1996
  698. Loan relationships: introductory
  699. 5Paragraph 5 Repealed
  700. Transactions not at arm’s length
  701. 6Paragraph 6 Repealed
  702. Continuity of treatment: groups etc.
  703. 7Paragraph 7 Repealed
  704. Amounts imputed under Schedule 28AA to the Taxes Act 1988
  705. 8Paragraph 8 Repealed
  706. Finance Act 1998
  707. Introductory
  708. 9Paragraph 9
  709. Scope of enquiry
  710. 10Paragraph 10
  711. Finance Act 2000
  712. Introductory: tonnage tax: transactions not at arm’s length
  713. 11Paragraph 11 Repealed
  714. Transactions between tonnage tax company and another person
  715. 12Paragraph 12 Repealed
  716. Transactions between tonnage tax trade and other activities of same company
  717. 13Paragraph 13 Repealed
  718. Finance Act 2002
  719. 14Paragraph 14 Repealed
  720. 15Paragraph 15 Repealed
  721. 16Paragraph 16 Repealed
  722. Schedule 6: Expenses of companies with investment business and insurance companies Repealed
  723. Income and Corporation Taxes Act 1988 Repealed
  724. 1Paragraph 1 Repealed
  725. Incidental costs of obtaining loan finance
  726. 2Paragraph 2 Repealed
  727. Change in ownership of investment company: deductions generally.
  728. 3Paragraph 3 Repealed
  729. Deductions: assets transferred within group
  730. 4Paragraph 4 Repealed
  731. Change in ownership of company carrying on property business
  732. 5Paragraph 5 Repealed
  733. Change in ownership of company with unused non-trading loss on intangible fixed assets
  734. 6Paragraph 6 Repealed
  735. Finance Act 1989 Repealed
  736. Charge of certain receipts of basic life assurance business
  737. 7Paragraph 7 Repealed
  738. Spreading of relief for acquisition expenses
  739. 8Paragraph 8 Repealed
  740. Finance Act 1996 Repealed
  741. 9Paragraph 9 Repealed
  742. Schedule 7: Insurance companies etc
  743. Transfers of business
  744. 1Paragraph 1 Repealed
  745. 2Paragraph 2 Repealed
  746. 3Paragraph 3 Repealed
  747. 4Paragraph 4 Repealed
  748. 5Paragraph 5 Repealed
  749. Chargeable gains
  750. 6Paragraph 6
  751. Double taxation
  752. 7Paragraph 7 Repealed
  753. Meaning of “referable”
  754. 8Paragraph 8 Repealed
  755. 9Paragraph 9
  756. Schedule 8: Loan relationships: miscellaneous amendments Repealed
  757. Introductory Repealed
  758. 1Paragraph 1 Repealed
  759. Late interest: close companies where limited partnership is collective investment scheme etc Repealed
  760. 2Paragraph 2 Repealed
  761. Bad debts etc: release of amount where creditor is subject to insolvency proceedings Repealed
  762. 3Paragraph 3 Repealed
  763. Bad debt etc: parties having connection and creditor in insolvent administrative receivership Repealed
  764. 4Paragraph 4 Repealed
  765. Deemed assignment of assets and liabilities on company ceasing to be resident in UK etc Repealed
  766. 5Paragraph 5 Repealed
  767. Discounted securities of close companies: limited partnership collective investment scheme etc Repealed
  768. 6Paragraph 6 Repealed
  769. Interpretation of references to major interest Repealed
  770. 7Paragraph 7 Repealed
  771. Schedule 9: Derivative contracts: miscellaneous amendments Repealed
  772. Introductory Repealed
  773. 1Paragraph 1 Repealed
  774. Power to amend provisions of Schedule 26 Repealed
  775. 2Paragraph 2 Repealed
  776. Deemed assignment of derivative contracts on company ceasing to be resident in UK etc Repealed
  777. 3Paragraph 3 Repealed
  778. Derivative contracts for unallowable purposes Repealed
  779. 4Paragraph 4 Repealed
  780. Open-ended investment companies: capital profits and losses Repealed
  781. 5Paragraph 5 Repealed
  782. Schedule 10: Amendment of enactments that operate by reference to accounting practice
  783. Part 1: Loan relationships
  784. Main computational provisions
  785. 1Paragraph 1 Repealed
  786. 2Paragraph 2 Repealed
  787. 3Paragraph 3 Repealed
  788. 4Paragraph 4 Repealed
  789. 5Paragraph 5
  790. 6Paragraph 6 Repealed
  791. 7Paragraph 7
  792. 8Paragraph 8 Repealed
  793. 9Paragraph 9
  794. 10Paragraph 10
  795. 11Paragraph 11
  796. 12Paragraph 12 Repealed
  797. 13Paragraph 13 Repealed
  798. 14Paragraph 14 Repealed
  799. 15Paragraph 15
  800. 16Paragraph 16 Repealed
  801. 17Paragraph 17 Repealed
  802. Special computational provisions
  803. 18Paragraph 18
  804. 19Paragraph 19 Repealed
  805. 20Paragraph 20 Repealed
  806. 21Paragraph 21 Repealed
  807. 22Paragraph 22 Repealed
  808. 23Paragraph 23 Repealed
  809. 24Paragraph 24 Repealed
  810. 25Paragraph 25 Repealed
  811. 26Paragraph 26 Repealed
  812. 27Paragraph 27 Repealed
  813. 28Paragraph 28 Repealed
  814. 29Paragraph 29
  815. 30Paragraph 30 Repealed
  816. 31Paragraph 31 Repealed
  817. 32Paragraph 32 Repealed
  818. 33Paragraph 33 Repealed
  819. 34Paragraph 34 Repealed
  820. 35Paragraph 35 Repealed
  821. 36Paragraph 36 Repealed
  822. Collective investment schemes etc.
  823. 37Paragraph 37 Repealed
  824. 38Paragraph 38 Repealed
  825. 39Paragraph 39 Repealed
  826. 40Paragraph 40 Repealed
  827. 41Paragraph 41 Repealed
  828. 42Paragraph 42 Repealed
  829. Consequential amendments
  830. 43Paragraph 43 Repealed
  831. 44Paragraph 44 Repealed
  832. 45Paragraph 45 Repealed
  833. 46Paragraph 46
  834. Part 2: Derivative contracts
  835. Method of taxation
  836. 47Paragraph 47 Repealed
  837. 48Paragraph 48 Repealed
  838. Accounting methods
  839. 49Paragraph 49 Repealed
  840. 50Paragraph 50 Repealed
  841. 51Paragraph 51 Repealed
  842. Special provision for bad debt etc.
  843. 52Paragraph 52 Repealed
  844. 53Paragraph 53 Repealed
  845. Special computational provisions
  846. 54Paragraph 54 Repealed
  847. 55Paragraph 55 Repealed
  848. 56Paragraph 56 Repealed
  849. 57Paragraph 57 Repealed
  850. 58Paragraph 58 Repealed
  851. Collective investment schemes
  852. 59Paragraph 59 Repealed
  853. 60Paragraph 60 Repealed
  854. 61Paragraph 61 Repealed
  855. 62Paragraph 62 Repealed
  856. 63Paragraph 63 Repealed
  857. Miscellaneous
  858. 64Paragraph 64 Repealed
  859. 65Paragraph 65 Repealed
  860. 66Paragraph 66 Repealed
  861. 67Paragraph 67 Repealed
  862. Interpretation
  863. 68Paragraph 68 Repealed
  864. 69Paragraph 69 Repealed
  865. Consequential amendment
  866. 70Paragraph 70 Repealed
  867. Part 3: Intangible fixed assets
  868. Excluded assets: assets in respect of which capital allowances previously made
  869. 71Paragraph 71 Repealed
  870. Adjustment on change of accounting policy
  871. 72Paragraph 72 Repealed
  872. References to amounts recognised in profit and loss account
  873. 73Paragraph 73 Repealed
  874. Consequential amendments
  875. 74Paragraph 74 Repealed
  876. 75Paragraph 75 Repealed
  877. 76Paragraph 76 Repealed
  878. Part 4: Foreign currency accounting
  879. Main provisions
  880. 77Paragraph 77 Repealed
  881. Consequential amendments
  882. 78Paragraph 78 Repealed
  883. Transitional provision
  884. 79Paragraph 79
  885. Schedule 11: Conditions for registration for gross payment
  886. Part 1: Conditions to be satisfied by individuals
  887. General
  888. 1Paragraph 1
  889. The business test
  890. 2Paragraph 2
  891. The turnover test
  892. 3Paragraph 3
  893. The compliance test
  894. 4Paragraph 4
  895. Part 2: Conditions to be satisfied by firms
  896. General
  897. 5Paragraph 5
  898. The business test
  899. 6Paragraph 6
  900. The turnover test
  901. 7Paragraph 7
  902. The compliance test
  903. 8Paragraph 8
  904. Exception from compliance test: firms
  905. 8AParagraph 8A
  906. Part 3: Conditions to be satisfied by companies
  907. General
  908. 9Paragraph 9
  909. The business test
  910. 10Paragraph 10
  911. The turnover test
  912. 11Paragraph 11
  913. The compliance test
  914. 12Paragraph 12
  915. Exception from the compliance test: companies
  916. 12AParagraph 12A
  917. Part 4: Supplementary provisions
  918. Power to amend conditions for registration for gross payment
  919. 13Paragraph 13
  920. “Qualifying period”
  921. 14Paragraph 14
  922. 14AParagraph 14A
  923. Regulations under this Schedule
  924. 15Paragraph 15
  925. 16Paragraph 16
  926. Schedule 12: Construction industry scheme: consequential amendments
  927. Records to be kept for purposes of returns
  928. 1Paragraph 1
  929. General rule as to when corporation tax is due and payable
  930. 2Paragraph 2
  931. Claim for repayment in advance of liability being established
  932. 3Paragraph 3
  933. Priority of claim for tax
  934. 4Paragraph 4
  935. Recovery of tax in Scotland
  936. 5Paragraph 5
  937. Priority of claim for tax in Scotland
  938. 6Paragraph 6
  939. Special returns etc
  940. 7Paragraph 7
  941. Special penalties in the case of certain returns
  942. 8Paragraph 8
  943. Sub-contractors in the construction industry
  944. 9Paragraph 9
  945. Designated international organisations: miscellaneous exemptions
  946. 10Paragraph 10 Repealed
  947. Application of Income Tax Acts to public departments etc
  948. 11Paragraph 11 Repealed
  949. Provisions for securing payment by company of outstanding tax
  950. 12Paragraph 12 Repealed
  951. Supplementary provisions relating to contributions: Great Britain
  952. 13Paragraph 13
  953. Supplementary provisions relating to contributions: Northern Ireland
  954. 14Paragraph 14
  955. Transitional provisions concerning construction workers supplied by agencies
  956. 15Paragraph 15
  957. Company tax returns, assessments and related matters
  958. 16Paragraph 16
  959. Calculation of deemed employment payment
  960. 17Paragraph 17
  961. Schedule 13: Childcare and childcare vouchers
  962. Childcare
  963. 1Paragraph 1
  964. Childcare vouchers
  965. 2Paragraph 2
  966. 3Paragraph 3
  967. Schedule 14: Vans
  968. 1Paragraph 1
  969. 2Paragraph 2
  970. 3Paragraph 3
  971. 4Paragraph 4
  972. 5Paragraph 5
  973. 6Paragraph 6
  974. 7Paragraph 7
  975. 8Paragraph 8
  976. Schedule 15: Charge to income tax on benefits received by former owner of property
  977. Introductory
  978. 1Paragraph 1
  979. 2Paragraph 2
  980. Land
  981. 3Paragraph 3
  982. 4Paragraph 4
  983. 5Paragraph 5
  984. Chattels
  985. 6Paragraph 6
  986. 7Paragraph 7
  987. Intangible property comprised in settlement where settlor retains an interest
  988. 8Paragraph 8
  989. 9Paragraph 9
  990. Excluded transactions
  991. 10Paragraph 10
  992. Exemptions from charge
  993. 11Paragraph 11
  994. Chargeable person non-UK resident or not a long-term UK resident
  995. 12Paragraph 12
  996. Exemption in cases where aggregate notional annual values do not exceed £5,000
  997. 13Paragraph 13
  998. Power of Treasury to confer further exemptions by regulations
  999. 14Paragraph 14
  1000. Valuation
  1001. 15Paragraph 15
  1002. Changes in distribution of deceased’s estate
  1003. 16Paragraph 16
  1004. Guarantees
  1005. 17Paragraph 17
  1006. Persons chargeable under different provisions by reference to same property
  1007. 18Paragraph 18
  1008. Relationship with Part 3 of Income Tax (Earnings and Pensions) Act 2003
  1009. 19Paragraph 19
  1010. Regulations
  1011. 20Paragraph 20
  1012. Election for application of inheritance tax provisions
  1013. 21Paragraph 21
  1014. 22Paragraph 22
  1015. 23Paragraph 23
  1016. Schedule 16: Relief where national insurance contributions met by employee
  1017. Income tax relief: restricted securities
  1018. 1Paragraph 1
  1019. Income tax relief: convertible securities
  1020. 2Paragraph 2
  1021. Income tax relief: securities options
  1022. 3Paragraph 3
  1023. Consequential amendments: PAYE
  1024. 4Paragraph 4
  1025. Consequential amendments: corporation tax relief
  1026. 5Paragraph 5 Repealed
  1027. Consequential amendments: capital gains tax
  1028. 6Paragraph 6
  1029. Other consequential amendments
  1030. 7Paragraph 7
  1031. Schedule 17: Minor amendments of or connected with the Income Tax (Earnings and Pensions) Act 2003
  1032. Free or subsidised meals
  1033. 1Paragraph 1
  1034. Payments to non-approved pension schemes: exception for employment where earnings not within main charging provisions
  1035. 2Paragraph 2 Repealed
  1036. Time limit for assessment: income received after year for which it is assessable
  1037. 3Paragraph 3
  1038. Computation of profits or gains under Schedule D: delayed payment of remuneration
  1039. 4Paragraph 4 Repealed
  1040. Donations to charity by individuals: application to Crown employment
  1041. 5Paragraph 5
  1042. Payments on account of income tax
  1043. 6Paragraph 6
  1044. Tax relief for expenditure on R&D or remediation of contaminated land: staff costs
  1045. 7Paragraph 7 Repealed
  1046. Gains and losses of a company from intangible fixed assets: delayed payment of remuneration
  1047. 8Paragraph 8 Repealed
  1048. Minor corrections of the Income Tax (Earnings and Pensions) Act 2003
  1049. 9Paragraph 9
  1050. Other minor corrections
  1051. 10Paragraph 10
  1052. Schedule 18: Enterprise investment scheme
  1053. Part 1: Income tax relief Repealed
  1054. Paragraph Repealed
  1055. Part 2: Deferral relief
  1056. 12Paragraph 12
  1057. 13Paragraph 13
  1058. 14Paragraph 14
  1059. 15Paragraph 15
  1060. 16Paragraph 16
  1061. 17Paragraph 17
  1062. 18Paragraph 18
  1063. 19Paragraph 19
  1064. 20Paragraph 20
  1065. Part 3: Commencement
  1066. 21Paragraph 21
  1067. Schedule 19: Venture capital trusts
  1068. Part 1: Increase in relief on investments and distributions Repealed
  1069. Paragraph Repealed
  1070. Part 2: Abolition of deferral relief
  1071. Main amendments
  1072. 4Paragraph 4
  1073. 5Paragraph 5
  1074. Consequential amendment
  1075. 6Paragraph 6
  1076. Commencement
  1077. 7Paragraph 7
  1078. Part 3: Miscellaneous Repealed
  1079. Paragraph Repealed
  1080. Schedule 20: Corporate venturing scheme
  1081. 1Paragraph 1
  1082. 2Paragraph 2
  1083. 3Paragraph 3
  1084. 4Paragraph 4
  1085. 5Paragraph 5
  1086. 6Paragraph 6
  1087. 7Paragraph 7
  1088. 8Paragraph 8
  1089. 9Paragraph 9
  1090. 10Paragraph 10
  1091. 11Paragraph 11
  1092. 12Paragraph 12
  1093. 13Paragraph 13
  1094. 14Paragraph 14
  1095. 15Paragraph 15
  1096. Schedule 21: Chargeable gains: restriction of gifts relief etc
  1097. Penalties for failure to furnish particulars etc
  1098. 1Paragraph 1 Repealed
  1099. Charge on settlor with interest in settlement etc: supplementary provisions
  1100. 2Paragraph 2 Repealed
  1101. Relief for gifts of business assets
  1102. 3Paragraph 3
  1103. Gifts relief not to be available on certain transfers to settlor-interested settlements etc
  1104. 4Paragraph 4
  1105. Gifts on which inheritance tax is chargeable etc
  1106. 5Paragraph 5
  1107. Payment by instalments of tax on gifts
  1108. 6Paragraph 6
  1109. Recovery of tax from donee
  1110. 7Paragraph 7
  1111. Application of taper relief
  1112. 8Paragraph 8 Repealed
  1113. Relief for gifts of business assets
  1114. 9Paragraph 9
  1115. Commencement
  1116. 10Paragraph 10
  1117. Schedule 22: Chargeable gains: private residence relief
  1118. Relief on disposal of private residence
  1119. 1Paragraph 1
  1120. Amount of relief
  1121. 2Paragraph 2
  1122. Amount of relief: further provisions
  1123. 3Paragraph 3
  1124. Private residence occupied under terms of settlement
  1125. 4Paragraph 4
  1126. Private residence held by personal representatives
  1127. 5Paragraph 5
  1128. Private residence relief: cases where relief obtained under section 260
  1129. 6Paragraph 6
  1130. Commencement
  1131. 7Paragraph 7
  1132. Transitional provision
  1133. 8Paragraph 8
  1134. Schedule 23: Finance leasebacks: transitional provision
  1135. Introduction
  1136. 1Paragraph 1
  1137. Section 228B
  1138. 2Paragraph 2
  1139. Section 228B
  1140. 3Paragraph 3
  1141. Section 228C
  1142. 4Paragraph 4
  1143. Section 228C
  1144. 5Paragraph 5
  1145. Section 228C
  1146. 6Paragraph 6
  1147. Section 228D
  1148. 7Paragraph 7
  1149. Section 228D
  1150. 8Paragraph 8
  1151. Section 228E
  1152. 9Paragraph 9
  1153. Chargeable gains
  1154. 10Paragraph 10
  1155. Interpretation
  1156. 11Paragraph 11
  1157. Schedule 24: Manufactured dividends
  1158. Amendments of sections 231AA, 231AB and 233 of the Taxes Act 1988
  1159. 1Paragraph 1 Repealed
  1160. Amendments of paragraph 2A of Schedule 23A to the Taxes Act 1988
  1161. 2Paragraph 2 Repealed
  1162. Amendment of the Taxation of Chargeable Gains Act 1992
  1163. 3Paragraph 3
  1164. Schedule 25: Lloyd’s names: conversion to limited liability underwriting
  1165. 1Paragraph 1
  1166. 2Paragraph 2
  1167. 3Paragraph 3
  1168. Schedule 26: Offshore funds
  1169. Computation of UK equivalent profits: creditor relationships
  1170. 1Paragraph 1
  1171. Computation of UK equivalent profits: derivative contracts
  1172. 2Paragraph 2
  1173. Treatment of umbrella funds and funds comprising more than one class of interest
  1174. 3Paragraph 3
  1175. Treatment of umbrella funds and funds comprising more than one class of interest
  1176. 4Paragraph 4 Repealed
  1177. Treatment of umbrella funds and funds comprising more than one class of interest
  1178. 5Paragraph 5 Repealed
  1179. Treatment of umbrella funds and funds comprising more than one class of interest
  1180. 6Paragraph 6 Repealed
  1181. Treatment of umbrella funds and funds comprising more than one class of interest
  1182. 7Paragraph 7 Repealed
  1183. Treatment of umbrella funds and funds comprising more than one class of interest
  1184. 8Paragraph 8 Repealed
  1185. Treatment of umbrella funds and funds comprising more than one class of interest
  1186. 9Paragraph 9 Repealed
  1187. Treatment of umbrella funds and funds comprising more than one class of interest
  1188. 10Paragraph 10 Repealed
  1189. Treatment of umbrella funds and funds comprising more than one class of interest
  1190. 11Paragraph 11
  1191. Treatment of umbrella funds and funds comprising more than one class of interest
  1192. 12Paragraph 12 Repealed
  1193. Investment conditions to be met by funds seeking certification as distributing fund
  1194. 13Paragraph 13 Repealed
  1195. Investment conditions to be met by funds seeking certification as distributing fund
  1196. 14Paragraph 14 Repealed
  1197. Exchange of interests of different classes
  1198. 15Paragraph 15 Repealed
  1199. Correction of cross-reference
  1200. 16Paragraph 16 Repealed
  1201. Transitional provision
  1202. 17Paragraph 17
  1203. Schedule 27: Meaning of “offshore installation”
  1204. Part 1: The new definition
  1205. 1Paragraph 1 Repealed
  1206. 2Paragraph 2 Repealed
  1207. 3Paragraph 3 Repealed
  1208. Part 2: Minor and consequential amendments
  1209. The Taxes Act 1988
  1210. 4Paragraph 4 Repealed
  1211. The Taxes Act 1988
  1212. 5Paragraph 5 Repealed
  1213. Finance Act 2000 (c. 17)
  1214. 6Paragraph 6
  1215. Finance Act 2000 (c. 17)
  1216. 7Paragraph 7
  1217. Capital Allowances Act 2001 (c. 2)
  1218. 8Paragraph 8
  1219. Capital Allowances Act 2001 (c. 2)
  1220. 9Paragraph 9
  1221. Capital Allowances Act 2001 (c. 2)
  1222. 10Paragraph 10
  1223. Capital Allowances Act 2001 (c. 2)
  1224. 11Paragraph 11
  1225. Income Tax (Earnings and Pensions) Act 2003 (c. 1)
  1226. 12Paragraph 12
  1227. Income Tax (Earnings and Pensions) Act 2003 (c. 1)
  1228. 13Paragraph 13
  1229. Income Tax (Earnings and Pensions) Act 2003 (c. 1)
  1230. 14Paragraph 14
  1231. Income Tax (Earnings and Pensions) Act 2003 (c. 1)
  1232. 15Paragraph 15
  1233. Income Tax (Earnings and Pensions) Act 2003 (c. 1)
  1234. 16Paragraph 16
  1235. Income Tax (Earnings and Pensions) Act 2003 (c. 1)
  1236. 17Paragraph 17
  1237. Schedule 28: Registered pension schemes: authorised pensions—supplementary
  1238. Part 1: Pension rules
  1239. Defined benefits and money purchase arrangements
  1240. Ill-health condition
  1241. 1Paragraph 1
  1242. Scheme pension
  1243. 2Paragraph 2
  1244. 2AParagraph 2A
  1245. Money purchase arrangements
  1246. Lifetime annuity
  1247. 3Paragraph 3
  1248. Drawdown pension
  1249. 4Paragraph 4
  1250. 5Paragraph 5 Repealed
  1251. Short-term annuity
  1252. 6Paragraph 6
  1253. Income withdrawal
  1254. 7Paragraph 7
  1255. Member's drawdown pension fund
  1256. 8Paragraph 8
  1257. Member's flexi-access drawdown fund
  1258. 8AParagraph 8A
  1259. Conversion of certain drawdown pension funds into flexi-access drawdown funds
  1260. 8BParagraph 8B
  1261. 8CParagraph 8C
  1262. 8DParagraph 8D
  1263. Drawdown pension year and basis amount for drawdown pension year
  1264. 9Paragraph 9
  1265. Unsecured pension year and basis amount for unsecured pension year
  1266. 10Paragraph 10
  1267. 10AParagraph 10A
  1268. 10BParagraph 10B
  1269. Member’s alternatively secured pension fund
  1270. 11Paragraph 11 Repealed
  1271. Alternatively secured pension year and basis amount for alternatively secured pension year
  1272. 12Paragraph 12 Repealed
  1273. Alternatively secured pension year and basis amount for alternatively secured pension year
  1274. 13Paragraph 13 Repealed
  1275. Relevant annuity
  1276. 14Paragraph 14
  1277. Minimum income requirement
  1278. 14AParagraph 14A Repealed
  1279. 14BParagraph 14B Repealed
  1280. The relevant day
  1281. 14CParagraph 14C Repealed
  1282. Relevant contributions
  1283. 14DParagraph 14D Repealed
  1284. Valid and accepted declarations
  1285. 14EParagraph 14E Repealed
  1286. Part 2: Pension death benefit rules
  1287. Defined benefits and money purchase arrangements
  1288. Meaning of “dependant”
  1289. 15Paragraph 15
  1290. Dependants' scheme pension
  1291. 16Paragraph 16
  1292. 16AParagraph 16A
  1293. 16AAParagraph 16AA
  1294. 16ABParagraph 16AB
  1295. 16ACParagraph 16AC
  1296. 16ADParagraph 16AD
  1297. 16AEParagraph 16AE
  1298. 16BParagraph 16B
  1299. 16CParagraph 16C
  1300. Money purchase arrangements
  1301. Dependants' annuity
  1302. 17Paragraph 17
  1303. Dependants' drawdown pension
  1304. 18Paragraph 18
  1305. 19Paragraph 19 Repealed
  1306. Dependants' short-term annuity
  1307. 20Paragraph 20
  1308. Dependants' income withdrawal
  1309. 21Paragraph 21
  1310. Dependant's drawdown pension fund
  1311. 22Paragraph 22
  1312. Dependant's flexi-access drawdown fund
  1313. 22AParagraph 22A
  1314. Conversion of certain dependants' drawdown funds into flexi-access drawdown funds
  1315. 22BParagraph 22B
  1316. 22CParagraph 22C
  1317. 22DParagraph 22D
  1318. Drawdown pension year and basis amount for drawdown pension year
  1319. 23Paragraph 23
  1320. 24Paragraph 24
  1321. 24AParagraph 24A
  1322. 24BParagraph 24B
  1323. Minimum income requirement
  1324. 24CParagraph 24C Repealed
  1325. 24DParagraph 24D Repealed
  1326. The relevant day
  1327. 24EParagraph 24E Repealed
  1328. Relevant contributions
  1329. 24FParagraph 24F Repealed
  1330. Valid and accepted declarations
  1331. 24GParagraph 24G Repealed
  1332. Dependant’s alternatively secured pension fund
  1333. 25Paragraph 25 Repealed
  1334. Alternatively secured pension year and basis amount for alternatively secured pension year
  1335. 26Paragraph 26 Repealed
  1336. 27Paragraph 27 Repealed
  1337. Meaning of “nominee”
  1338. 27AParagraph 27A
  1339. Nominees' annuity
  1340. 27AAParagraph 27AA
  1341. Nominees' drawdown pension
  1342. 27BParagraph 27B
  1343. Nominees' short-term annuity
  1344. 27CParagraph 27C
  1345. Nominees' income withdrawal
  1346. 27DParagraph 27D
  1347. Nominee's flexi-access drawdown fund
  1348. 27EParagraph 27E
  1349. Meaning of “successor”
  1350. 27FParagraph 27F
  1351. Successors' annuity
  1352. 27FAParagraph 27FA
  1353. Successors' drawdown pension
  1354. 27GParagraph 27G
  1355. Successors' short-term annuity
  1356. 27HParagraph 27H
  1357. Successors' income withdrawal
  1358. 27JParagraph 27J
  1359. Successor's flexi-access drawdown fund
  1360. 27KParagraph 27K
  1361. Schedule 29: Registered pension schemes: authorised lump sums—supplementary
  1362. Part 1: Lump sum rule
  1363. Pension commencement lump sum
  1364. 1Paragraph 1
  1365. 1AParagraph 1A Repealed
  1366. 1BParagraph 1B Repealed
  1367. 2Paragraph 2
  1368. 2AParagraph 2A
  1369. 2BParagraph 2B
  1370. 2CParagraph 2C
  1371. 2DParagraph 2D
  1372. 3Paragraph 3 Repealed
  1373. Pension commencement lump sums: anti-avoidance
  1374. 3AParagraph 3A
  1375. 3BParagraph 3B
  1376. Pension commencement excess lump sum
  1377. 3CParagraph 3C
  1378. Serious ill-health lump sum
  1379. 4Paragraph 4
  1380. Uncrystallised funds pension lump sum
  1381. 4AParagraph 4A
  1382. Short service refund lump sum
  1383. 5Paragraph 5
  1384. Refund of excess contributions lump sum
  1385. 6Paragraph 6
  1386. Trivial commutation lump sum
  1387. 7Paragraph 7
  1388. 8Paragraph 8
  1389. 9Paragraph 9
  1390. Winding-up lump sum
  1391. 10Paragraph 10
  1392. ...
  1393. 11Paragraph 11 Repealed
  1394. ...
  1395. 11AParagraph 11A Repealed
  1396. Interpretation ...
  1397. 12Paragraph 12
  1398. 12AParagraph 12A
  1399. Part 2: Lump sum death benefit rule
  1400. Defined benefits arrangements
  1401. Defined benefits lump sum death benefit
  1402. 13Paragraph 13
  1403. Pension protection lump sum death benefit
  1404. 14Paragraph 14
  1405. Money purchase arrangements
  1406. Uncrystallised funds lump sum death benefit
  1407. 15Paragraph 15
  1408. Annuity protection lump sum death benefit
  1409. 16Paragraph 16
  1410. Drawdown pension fund lump sum death benefit
  1411. 17Paragraph 17
  1412. Flexi-access drawdown fund lump sum death benefit
  1413. 17AParagraph 17A
  1414. Charity lump sum death benefit
  1415. 18Paragraph 18
  1416. Transfer lump sum death benefit
  1417. 19Paragraph 19 Repealed
  1418. Defined benefits and money purchase arrangements
  1419. Trivial commutation lump sum death benefit
  1420. 20Paragraph 20
  1422. 21Paragraph 21 Repealed
  1423. Interpretation
  1424. Interpretation of Part 2
  1425. 22Paragraph 22
  1426. Schedule 29A: Taxable property held by investment-regulated pension schemes
  1427. Part 1: Investment-regulated pension schemes
  1428. Schemes other than occupational pension schemes
  1429. 1Paragraph 1
  1430. Occupational pension schemes
  1431. 2Paragraph 2
  1432. Separate self-controlled section
  1433. 3Paragraph 3
  1434. Related persons
  1435. 4Paragraph 4
  1436. Arrangements
  1437. 5Paragraph 5
  1438. Part 2: Taxable property
  1439. Taxable property
  1440. 6Paragraph 6
  1441. Residential property
  1442. 7Paragraph 7
  1443. 8Paragraph 8
  1444. 9Paragraph 9
  1445. 10Paragraph 10
  1446. Tangible moveable property
  1447. 11Paragraph 11
  1448. Part 3: Acquisition and holding of taxable property
  1449. Acquisition
  1450. 12Paragraph 12
  1451. Holding
  1452. 13Paragraph 13
  1453. Direct holding
  1454. 14Paragraph 14
  1455. Exception to direct holding
  1456. 15Paragraph 15
  1457. Indirect holding
  1458. 16Paragraph 16
  1459. 17Paragraph 17
  1460. 18Paragraph 18
  1461. 19Paragraph 19
  1462. Exceptions to indirect holding
  1463. 20Paragraph 20
  1464. 21Paragraph 21
  1465. 22Paragraph 22
  1466. 23Paragraph 23
  1467. 24Paragraph 24
  1468. 25Paragraph 25
  1469. 26Paragraph 26
  1470. Deemed acquisition
  1471. 27Paragraph 27
  1472. 28Paragraph 28
  1473. 29Paragraph 29
  1474. Associated persons
  1475. 30Paragraph 30
  1476. Part 4: Amount and timing of unauthorised payment
  1477. Introduction
  1478. 31Paragraph 31
  1479. Acquisition: basic rules
  1480. 32Paragraph 32
  1481. Acquisition: further provisions
  1482. 33Paragraph 33
  1483. 34Paragraph 34
  1484. 35Paragraph 35
  1485. 36Paragraph 36
  1486. Post-acquisition unauthorised payments
  1487. 37Paragraph 37
  1488. Improvement of taxable property
  1489. 38Paragraph 38
  1490. Conversion or adaptation as residential property
  1491. 39Paragraph 39
  1492. 40Paragraph 40
  1493. Apportionment to pension scheme
  1494. 41Paragraph 41
  1495. 42Paragraph 42
  1496. 43Paragraph 43
  1497. Deemed acquisition: adjustment
  1498. 44Paragraph 44
  1499. Apportionment to member
  1500. 45Paragraph 45
  1501. Schedule 30: Registered pension schemes: employer loans
  1502. Definitions
  1503. Charge of adequate value
  1504. 1Paragraph 1
  1505. Loan repayment date
  1506. 2Paragraph 2
  1507. Loan year
  1508. 3Paragraph 3
  1509. Required amount
  1510. 4Paragraph 4
  1511. Amount of unauthorised payment
  1512. Loan does not comply with section 179(1) when made
  1513. 5Paragraph 5
  1514. Loan ceases to be secured by charge of adequate value
  1515. 6Paragraph 6
  1516. Further reduction in value of charge which is not of adequate value
  1517. 7Paragraph 7
  1518. Loan ceases to comply with repayment terms
  1519. 8Paragraph 8
  1520. Increase in extent to which loan does not comply with repayment terms
  1521. 9Paragraph 9
  1522. Prevention of double charging
  1523. 10Paragraph 10
  1524. Total unauthorised payments not to exceed amount of loan
  1525. 11Paragraph 11
  1526. Amount 1
  1527. 12Paragraph 12
  1528. Amount 2
  1529. 13Paragraph 13
  1530. Amount A
  1531. 14Paragraph 14
  1532. Amount B
  1533. 15Paragraph 15
  1534. Amount C
  1535. 16Paragraph 16
  1536. Schedule 31: Taxation of benefits under registered pension schemes
  1537. 1Paragraph 1
  1538. 2Paragraph 2
  1539. 3Paragraph 3
  1540. 4Paragraph 4
  1541. 5Paragraph 5
  1542. 6Paragraph 6
  1543. 7Paragraph 7
  1544. 8Paragraph 8
  1545. 9Paragraph 9
  1546. 10Paragraph 10
  1547. 11Paragraph 11
  1548. 12Paragraph 12
  1549. 13Paragraph 13
  1550. 14Paragraph 14
  1551. 15Paragraph 15
  1552. Schedule 32: Registered pension schemes: benefit crystallisation events ...
  1553. Introduction
  1554. A1Paragraph A1
  1555. The benefit crystallisation events
  1556. A2Paragraph A2
  1557. General: meaning of “the relevant pension schemes”
  1558. 1Paragraph 1
  1559. ...
  1560. 2Paragraph 2 Repealed
  1561. ...
  1562. 2AParagraph 2A Repealed
  1563. ...
  1564. 2BParagraph 2B Repealed
  1565. 3Paragraph 3 Repealed
  1566. ...
  1567. 4Paragraph 4 Repealed
  1568. ...
  1569. 5Paragraph 5 Repealed
  1570. ...
  1571. 6Paragraph 6 Repealed
  1572. Benefit crystallisation events 2 and 4: early lifetime annuities
  1573. 7Paragraph 7
  1574. Benefit crystallisation event 2: early pensions
  1575. 8Paragraph 8
  1576. ...
  1577. 9Paragraph 9 Repealed
  1578. Benefit crystallisation event 3: disregarding abatement
  1579. 9AParagraph 9A
  1580. Benefit crystallisation event 3: excepted circumstances
  1581. 10Paragraph 10
  1582. Benefit crystallisation event 3: threshold annual rate
  1583. 10AParagraph 10A
  1584. Benefit crystallisation event 3: permitted margin
  1585. 11Paragraph 11
  1586. Benefit crystallisation event 3: permitted margin
  1587. 12Paragraph 12
  1588. ...
  1589. 13Paragraph 13 Repealed
  1590. ...
  1591. 14Paragraph 14 Repealed
  1592. ...
  1593. 14ZAParagraph 14ZA Repealed
  1594. ...
  1595. 14ZBParagraph 14ZB Repealed
  1596. ...
  1597. 14AParagraph 14A Repealed
  1598. ...
  1599. 14BParagraph 14B Repealed
  1600. ...
  1601. 14CParagraph 14C Repealed
  1602. Benefit crystallisation event 6: meaning of “relevant lump sum”
  1603. 15Paragraph 15
  1604. ...
  1605. 15AParagraph 15A Repealed
  1606. ...
  1607. 16Paragraph 16 Repealed
  1608. ...
  1609. 17Paragraph 17 Repealed
  1610. Schedule 33: Overseas pension schemes: migrant member relief
  1611. Relief for members' etc. contributions
  1612. 1Paragraph 1
  1613. Relief for employers' contributions
  1614. 2Paragraph 2
  1615. 3Paragraph 3
  1616. Meaning of “relevant migrant member”
  1617. 4Paragraph 4
  1618. Meaning of “qualifying” overseas pension scheme
  1619. 5Paragraph 5
  1620. 6Paragraph 6
  1621. Schedule 34: Non-UK schemes: application of certain charges and protections etc
  1622. Member payment charges
  1623. 1Paragraph 1
  1624. 2Paragraph 2
  1625. 3Paragraph 3
  1626. 4Paragraph 4
  1627. 4AParagraph 4A Repealed
  1628. 5Paragraph 5
  1629. 5ZAParagraph 5ZA
  1630. 5AParagraph 5A
  1631. 6Paragraph 6
  1632. 7Paragraph 7
  1633. Unauthorised payment charge: alternatively secured pension etc
  1634. 7ZAParagraph 7ZA Repealed
  1635. Unauthorised payment charge: taxable property
  1636. 7AParagraph 7A
  1637. ...
  1638. 7BParagraph 7B Repealed
  1639. Annual allowance charge
  1640. 8Paragraph 8
  1641. 9Paragraph 9
  1642. 9ZAParagraph 9ZA
  1643. 9ZBParagraph 9ZB
  1644. 9AParagraph 9A
  1645. 9BParagraph 9B
  1646. 10Paragraph 10
  1647. 11Paragraph 11
  1648. 12Paragraph 12
  1649. Enhancement of allowances
  1650. 12AParagraph 12A
  1651. ...
  1652. 13Paragraph 13 Repealed
  1653. 14Paragraph 14 Repealed
  1654. 15Paragraph 15 Repealed
  1655. 16Paragraph 16 Repealed
  1656. 17Paragraph 17 Repealed
  1657. 18Paragraph 18 Repealed
  1658. 19Paragraph 19 Repealed
  1659. Meaning of “double tax arrangements”
  1660. 20Paragraph 20
  1661. Schedule 35: Pension schemes etc: minor and consequential amendments
  1662. Taxes Management Act 1970 (c. 9)
  1663. 1Paragraph 1
  1664. Income and Corporation Taxes Act 1988 (c. 1)
  1665. 2Paragraph 2
  1666. 3Paragraph 3
  1667. 4Paragraph 4
  1668. 5Paragraph 5 Repealed
  1669. 6Paragraph 6
  1670. 7Paragraph 7 Repealed
  1671. 8Paragraph 8 Repealed
  1672. 9Paragraph 9
  1673. 10Paragraph 10
  1674. 11Paragraph 11 Repealed
  1675. 12Paragraph 12 Repealed
  1676. 13Paragraph 13 Repealed
  1677. 14Paragraph 14 Repealed
  1678. 15Paragraph 15 Repealed
  1679. 16Paragraph 16 Repealed
  1680. 17Paragraph 17 Repealed
  1681. 18Paragraph 18 Repealed
  1682. 19Paragraph 19 Repealed
  1683. 20Paragraph 20 Repealed
  1684. 21Paragraph 21
  1685. 22Paragraph 22
  1686. 23Paragraph 23 Repealed
  1687. 24Paragraph 24 Repealed
  1688. 25Paragraph 25 Repealed
  1689. 26Paragraph 26
  1690. 27Paragraph 27 Repealed
  1691. 28Paragraph 28 Repealed
  1692. 29Paragraph 29 Repealed
  1693. 30Paragraph 30 Repealed
  1694. 31Paragraph 31 Repealed
  1695. 32Paragraph 32 Repealed
  1696. 33Paragraph 33
  1697. 34Paragraph 34 Repealed
  1698. 35Paragraph 35 Repealed
  1699. 36Paragraph 36 Repealed
  1700. Finance Act 1990 (c. 29)
  1701. 37Paragraph 37 Repealed
  1702. Taxation of Chargeable Gains Act 1992 (c. 12)
  1703. 38Paragraph 38
  1704. 39Paragraph 39
  1705. 40Paragraph 40
  1706. 41Paragraph 41
  1707. 42Paragraph 42
  1708. Finance Act 1996 (c. 8)
  1709. 43Paragraph 43
  1710. 44Paragraph 44
  1711. 45Paragraph 45 Repealed
  1712. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  1713. 46Paragraph 46 Repealed
  1714. Capital Allowances Act 2001 (c. 2)
  1715. 47Paragraph 47
  1716. 48Paragraph 48
  1717. 49Paragraph 49 Repealed
  1718. Finance Act 2002 (c. 23)
  1719. 50Paragraph 50 Repealed
  1720. 51Paragraph 51 Repealed
  1721. 52Paragraph 52 Repealed
  1722. 53Paragraph 53 Repealed
  1723. Income Tax (Earnings and Pensions) Act 2003 (c. 1)
  1724. 54Paragraph 54
  1725. 55Paragraph 55
  1726. 56Paragraph 56
  1727. 57Paragraph 57
  1728. 58Paragraph 58
  1729. 59Paragraph 59
  1730. 60Paragraph 60
  1731. 61Paragraph 61
  1732. 62Paragraph 62
  1733. 63Paragraph 63
  1734. 64Paragraph 64
  1735. 65Paragraph 65
  1736. Schedule 36: Pension schemes etc: transitional provisions and savings
  1737. Part 1: Pre-commencement pension schemes
  1738. Deemed registration of existing schemes
  1739. 1Paragraph 1
  1740. Opting out of deemed registration
  1741. 2Paragraph 2
  1742. Power to modify rules of existing schemes
  1743. 3Paragraph 3
  1744. Scheme administrator
  1745. 4Paragraph 4
  1746. Post-commencement withdrawal of approval
  1747. 5Paragraph 5
  1748. Pre-commencement liabilities of scheme administrator
  1749. 6Paragraph 6
  1750. Part 2: Pre-commencement rights and enhancement of allowances etc
  1751. ...
  1752. 6AParagraph 6A Repealed
  1753. “Primary protection”
  1754. 7Paragraph 7
  1755. 8Paragraph 8
  1756. 9Paragraph 9
  1757. 10Paragraph 10
  1758. 11Paragraph 11
  1759. 11AParagraph 11A
  1760. 11BParagraph 11B
  1761. 11CParagraph 11C
  1762. 11DParagraph 11D
  1763. “Enhanced protection”
  1764. 12Paragraph 12
  1765. 12AParagraph 12A
  1766. 13Paragraph 13
  1767. 14Paragraph 14
  1768. 15Paragraph 15
  1769. 15AParagraph 15A
  1770. 16Paragraph 16
  1771. 17Paragraph 17
  1772. 17AParagraph 17A
  1773. Pre-commencement pension credits
  1774. 18Paragraph 18
  1775. Individuals permitted to take pension before normal minimum pension age
  1776. 19Paragraph 19
  1777. Pre-commencement pensions
  1778. 20Paragraph 20
  1779. Pension credits from previously crystallised rights
  1780. 20AParagraph 20A
  1781. Non-residence: general
  1782. 20BParagraph 20B
  1783. Non-residence: determination of lump sum and death benefit allowance enhancement factor (money purchase arrangements)
  1784. 20CParagraph 20C
  1785. Non-residence: determination of lump sum and death benefit allowance enhancement factor (other arrangements)
  1786. 20DParagraph 20D
  1787. Transfers from recognised overseas pension scheme: general
  1788. 20EParagraph 20E
  1789. Overseas scheme transfers: determination of relevant relievable amount (money purchase arrangements)
  1790. 20FParagraph 20F
  1791. Overseas scheme transfers: determination of relevant relievable amount (other arrangements)
  1792. 20GParagraph 20G
  1793. Individual’s enhanced lump sum and death benefit allowance
  1794. 20HParagraph 20H
  1795. Part 3: Pre-commencement benefit rights
  1796. Rights to take benefit before normal minimum pension age
  1797. 21Paragraph 21
  1798. 22Paragraph 22
  1799. 23Paragraph 23
  1800. 23ZAParagraph 23ZA
  1801. 23ZBProtected pension age: scheme rights existing before 4 November 2021
  1802. 23ZCProtected pension age: scheme rights existing before 4 November 2021
  1803. 23AProtected pension age: scheme rights existing before 4 November 2021 Repealed
  1804. Lump sum rights exceeding £375,000: primary and enhanced protection
  1805. 24Paragraph 24
  1806. 25Paragraph 25
  1807. 26Paragraph 26
  1808. 27Paragraph 27
  1809. 28Paragraph 28
  1810. 29Paragraph 29
  1811. 29AParagraph 29A Repealed
  1812. 30Paragraph 30 Repealed
  1813. Entitlement to lump sums exceeding 25% of uncrystallised rights
  1814. 31Paragraph 31
  1815. 32Paragraph 32
  1816. 33Paragraph 33
  1817. 34Paragraph 34
  1818. 34AParagraph 34A
  1819. ...
  1820. 35Paragraph 35 Repealed
  1821. Right to payment of lump sum death benefit
  1822. 36Paragraph 36
  1823. Part 4: Other provisions
  1824. Pre-commencement ill-health insurance contracts
  1825. 37Paragraph 37
  1826. Pre-commencement holdings of taxable property
  1827. 37AParagraph 37A
  1828. 37BParagraph 37B
  1829. 37CParagraph 37C
  1830. 37DParagraph 37D
  1831. 37EParagraph 37E
  1832. Post-commencement acquisitions of taxable property
  1833. 37FParagraph 37F
  1834. 37GParagraph 37G
  1835. 37HParagraph 37H
  1836. 37IParagraph 37I
  1837. Pre-commencement loans to sponsoring employers
  1838. 38Paragraph 38
  1839. Retirement annuity contracts: carry-back of pre-commencement contributions
  1840. 39Paragraph 39
  1841. Members' contributions to pre-commencement retirement annuity contracts
  1842. 40Paragraph 40
  1843. Employers' contributions relieved before 6th April 2006
  1844. 41Paragraph 41
  1845. Spreading of employer’s contributions
  1846. 42Paragraph 42
  1847. Taxation of annuities paid under pre-commencement retirement annuity contracts
  1848. 43Paragraph 43 Repealed
  1849. Taxation of pensions accruing (but not taxed) pre-commencement and paid or received post-commencement
  1850. 44Paragraph 44
  1851. Pensions taxed pre-commencement but accruing post-commencement
  1852. 45Paragraph 45
  1853. Taxation of certain annuities for dependants purchased pre-commencement
  1854. 45AParagraph 45A
  1855. Application of PAYE to certain annuities in payment at commencement
  1856. 46Paragraph 46 Repealed
  1857. Authorised surplus payments charge: pre-19th March 1986 winding-up
  1858. 47Paragraph 47
  1859. Annual allowance charge: post-commencement contributions to discharge pre-commencement unfunded promises
  1860. 48Paragraph 48
  1861. ...
  1862. 49Paragraph 49 Repealed
  1863. Saving of sections 605 and 651A of ICTA
  1864. 50Paragraph 50
  1865. Individuals with pre-commencement entitlement to corresponding relief
  1866. 51Paragraph 51
  1867. Continuing operation of section 392 of ITEPA 2003
  1868. 52Paragraph 52
  1869. Benefits taxable under Chapter 2 of Part 6 of ITEPA 2003: contributions taxed pre-commencement
  1870. 53Paragraph 53
  1871. 54Paragraph 54
  1872. 55Paragraph 55
  1873. Inheritance tax
  1874. 56Paragraph 56
  1875. 57Paragraph 57
  1876. 58Paragraph 58
  1877. Schedule 37: Oil taxation: tax-exempt tariffing receipts and assets producing them
  1878. Part 1: Amendments of the Oil Taxation Act 1983 relating to allowable expenditure and disposal receipts
  1879. Introductory
  1880. 1Paragraph 1
  1881. Expenditure incurred on long-term assets other than non-dedicated mobile assets
  1882. 2Paragraph 2
  1883. Exclusion from s.3(4) of expenditure on assets giving rise to tax-exempt tariffing receipts
  1884. 3Paragraph 3
  1885. Expenditure related to exempt gas: asset use giving rise to tax-exempt tariffing receipts
  1886. 4Paragraph 4
  1887. Disposal receipts from assets used in a way that gives rise to tax-exempt tariffing receipts
  1888. 5Paragraph 5
  1889. Assets no longer in use for the principal field
  1890. 6Paragraph 6
  1891. Brought-in assets
  1892. 7Paragraph 7
  1893. Subsequent use of new asset otherwise than in connection with a taxable field
  1894. 8Paragraph 8
  1895. Part 2: Transitional provision
  1896. Expenditure incurred in transitional period: restriction of tax-exempt tariffing receipts
  1897. 9Paragraph 9
  1898. Part 3: Amendments of the Taxes Act 1988
  1899. Introductory
  1900. 10Paragraph 10 Repealed
  1901. Section 496: treatment of tax-exempt tariffing receipts for income and corporation tax
  1902. 11Paragraph 11 Repealed
  1903. Part 4: Amendments of other enactments
  1904. Chapter: Finance Act 1999
  1905. Qualifying assets
  1906. Qualifying assets
  1907. 12Paragraph 12
  1908. Schedule 38: Schedule to be inserted as Schedule 19B to the Taxes Act 1988
  1909. Paragraph
  1910. Schedule 39: Stamp duty land tax and stamp duty
  1911. Part 1: Amendments to Part 4 of the Finance Act 2003: general
  1912. Introduction
  1913. 1Paragraph 1
  1914. Variation of lease
  1915. 2Paragraph 2
  1916. Agreement for lease
  1917. 3Paragraph 3
  1918. Contract providing for conveyance to third party
  1919. 4Paragraph 4
  1920. Contract and conveyance: effect of transfer of rights
  1921. 5Paragraph 5
  1922. Relief for sale and leaseback arrangements
  1923. 6Paragraph 6
  1924. Registration of land transactions
  1925. 7Paragraph 7
  1926. “Effective date” of a transaction
  1927. 8Paragraph 8
  1928. Chargeable consideration
  1929. 9Paragraph 9
  1930. Provisions relating to leases
  1931. 10Paragraph 10
  1932. Provisions relating to leases
  1933. 11Paragraph 11
  1934. Transfer of rights after 10th July 2003 relating to earlier contract: applicability of SDLT regime
  1935. 12Paragraph 12
  1936. Commencement
  1937. 13Paragraph 13
  1938. Part 2: Re-enactment, with changes, of amendments made by section 109 regulations
  1939. Introduction and revocation
  1940. 14Paragraph 14
  1941. Meaning of taking possession
  1942. 15Paragraph 15
  1943. Relief for sale and leaseback arrangements
  1944. 16Paragraph 16
  1945. Relief for certain acquisitions of residential property
  1946. 17Paragraph 17
  1947. Initial transfer of assets to trustees of unit trust scheme
  1948. 18Paragraph 18 Repealed
  1949. Return or further return in consequence of later linked transaction
  1950. 19Paragraph 19
  1951. Declaration by person authorised to act on behalf of purchaser
  1952. 20Paragraph 20
  1953. Crown application
  1954. 21Paragraph 21
  1955. Further provision relating to leases
  1956. 22Paragraph 22
  1957. Abolition of stamp duty: application to duplicates and counterparts
  1958. 23Paragraph 23
  1959. Application of transitional provisions to certain contracts
  1960. 24Paragraph 24
  1961. Stamping of contract or agreement where transaction on completion or grant of lease subject to stamp duty land tax
  1962. 25Paragraph 25
  1963. Commencement
  1964. 26Paragraph 26
  1965. Schedule 40: Stamp duty land tax: claims not included in returns
  1966. Paragraph
  1967. Schedule 41: Stamp duty land tax: application to certain partnership transactions
  1968. 1Paragraph 1
  1969. 2Paragraph 2
  1970. 3Paragraph 3
  1971. Schedule 42: Repeals
  1972. 1Excise duties
  1973. 2Income Tax, Corporation Tax and Capital Gains Tax
  1974. 3Pension schemes etc
  1975. 4Other taxes
  1976. 5Miscellaneous matters