{
  "url": "https://openlegislation.uk/finance-act-2005/schedule-11/part-2",
  "json_url": "https://openlegislation.uk/finance-act-2005/schedule-11/part-2.json",
  "legislation": "ukpga/2005/7",
  "legislation_title": "Finance Act 2005",
  "legislation_url": "https://openlegislation.uk/finance-act-2005",
  "path": "schedule/11/part/2",
  "kind": "part",
  "number": "2",
  "heading": "Income tax, corporation tax and capital gains tax",
  "text": "(1) Extension of outplacement services etc exemption: part-time employees\nThese repeals have effect in accordance with section 18(5) of this Act.\nShort title and chapter\nExtent of repeal\nIncome Tax (Earnings and Pensions) Act 2003 (c. 1)\nIn section 310(4), “full-time”.\nIn section 311—\n(a) in subsection (3), paragraph (d) and the word “and” before it;\n(b) in subsection (4)(c), “full-time”.\n(2) Employee securities\nThis repeal has effect in accordance with section 22 of this Act.\nShort title and chapter\nExtent of repeal\nTaxation of Chargeable Gains Act 1992 (c. 12)\nIn section 119A(3), the words following the paragraphs.\n(3) Films: restrictions on relief for production and acquisition expenditure\n1The repeals in section 40A(5) and 43(1) of F(No.2)A 1992 have effect in accordance with paragraph 31(3) of Schedule 3 to this Act.\n2The repeals in section 42 of that Act have effect in accordance with paragraph 1(6) to (8) of that Schedule.\n3The repeals in section 48 of F(No.2)A 1997 have effect in accordance with paragraph 10(2) to (4) of that Schedule.\n4The repeal of section 101 of FA 2002 has effect in accordance with paragraph 2(2) and (3) of that Schedule.\n5The repeals in section 138 of ITTOIA 2005 have effect in accordance with paragraph 11(5) to (7) of that Schedule.\n6The repeal in section 138A of that Act has effect in accordance with paragraph 12(6) to (8) of that Schedule.\n7The repeal in section 139(1) of that Act has effect in accordance with paragraph 4(4) and (5) of that Schedule.\n8The repeal in section 139(5) of that Act has effect in accordance with paragraph 13 of that Schedule.\n9The repeal in section 140(6) of that Act has effect in accordance with paragraph 14 of that Schedule.\n10The remaining repeals in that section have effect in accordance with paragraph 5(4) to (6) of that Schedule.\nShort title and chapter\nExtent of repeal\nFinance (No. 2) Act 1992 (c. 48)\nSection 40A(5).\nIn section 42—\n(a) in subsection (2), the word and immediately before paragraph (b), and\n(b) in subsection (3), the word and immediately before paragraph (b).\nIn section 43(1), the definitions of master disc, master negative and master tape.\nFinance (No. 2) Act 1997 (c. 58)\nSection 48(3), (4) and (5).\nFinance Act 2002 (c. 23)\nSection 101.\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nIn section 138 (as substituted by this Act), in subsection (5), in Calculation 2, paragraph (c) and the word and immediately before it.\nIn section 138A(5), Calculation 2.\nIn section 139—\n(a) in subsection (1), the word and immediately before paragraph (e), and\n(b) in subsection (5)(d) the words , or section 42 of that Act (but not as applied by section 48(1) and (2) of F(No.2)A 1997),.\nIn section 140—\n(a) in subsection (1), paragraph (b) and the word and immediately before paragraph (f),\n(b) subsection (2), and\n(c) in subsection (6)(d), the words , or section 42 of that Act (but not as applied by section 48(1) to (3) of F(No.2)A 1997),.\n(4) Partners: removal of restriction on interest relief\nThese repeals have effect in accordance with section 72(7) to (12) of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 117—\n(a) in subsection (1), the words 353, and, in paragraph (a), the words , or of interest paid by him in connection with the carrying on of a trade,,\n(b) in subsection (2), in the definition of the aggregate amount, the words 353, and, in paragraph (a), the words , or of interest paid by him in connection with carrying it on,, and\n(c) in that subsection, in the definition of the appropriate time, the words or the interest paid.\nIn section 118ZB(2), the words , or interest paid by him in connection with the carrying on of a trade,.\nIn section 118ZE(1), the words 353, and , or interest paid by him in connection with the carrying on of a trade,.\nIn section 118ZF(1), the words 353, and , or of interest paid by him in connection with carrying it on,.\nIn section 118ZG(2)(b)(ii), the words 353, and , or of interest paid by him in connection with carrying it on,.\nIn section 118ZJ—\n(a) in subsection (3), the words 353, and , and interest paid by him in connection with carrying it on,,\n(b) in subsection (4), the words the sum of, paragraph (b) and the word and immediately before that paragraph, and\n(c) in subsection (5), paragraph (b) and the word and immediately before it.\n(5) Bad debts and related matters\nThese repeals have effect in accordance with section 80(4) of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nSection 74(1)(j) and (2).\nSection 94(2).\nSection 103(4A).\nFinance Act 1994 (c. 9)\nSection 144(1), (5) and (6).\nFinance Act 1996 (c. 8)\nIn Schedule 9—\n(a) paragraph 6B;\n(b) paragraph 6C(2);\n(c) paragraph 8;\n(d) paragraph 9.\nFinance Act 2002 (c. 23)\nIn Schedule 25, paragraph 26.\nIn Schedule 29, paragraph 115(2).\nFinance Act 2004 (c. 12)\nIn Schedule 10—\n(a) paragraph 24;\n(b) paragraph 25(4);\n(c) paragraph 26;\n(d) paragraph 27.\n(6) Foreign currency accounting\nThese repeals have effect in accordance with paragraph 24(2) of Schedule 4 to this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nSection 747(4A) and (4B).\nSection 747A.\nSection 748(4) and (5).\nSection 750(5) to (8).\nIn Schedule 24, paragraph 11A.\nFinance Act 1995 (c. 4)\nIn Schedule 25—\n(a) paragraphs 2 to 5;\n(b) paragraph 6(4).\nFinance Act 1996 (c. 8)\nIn Schedule 36, paragraph 1(3)(b) and (c).\nFinance Act 1998 (c. 36)\nIn Schedule 17, paragraph 2.\nCapital Allowances Act 2001 (c. 2)\nIn Schedule 2, paragraph 66(3).\nFinance Act 2002 (c. 23)\nIn Schedule 23, paragraph 19.\n(7) Other provisions connected with accounting practice\n1The repeals in sections 50, 51, 52 and 54 of FA 2004 have effect in accordance with paragraph 50 of Schedule 4 to this Act.\n2The other repeals have effect in accordance with section 80(4) of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 43A(3), paragraphs (a) and (b) and the word and preceding paragraph (a).\nSection 836A.\nFinance Act 1996 (c. 8)\nIn Schedule 9, paragraph 19A(6).\nFinance Act 1997 (c. 16)\nIn Schedule 12, in paragraph 30(1), the definitions of consolidated group accounts, group of companies and member in relation to a group of companies.\nFinance Act 2002 (c. 23)\nSection 103(2).\nIn Schedule 25, paragraph 12(2).\nIn Schedule 29—\n(a) paragraph 6(2);\n(b) in paragraph 15(4), in the definitions of Previous Debits and Previous Credits the words from under to accounting policy);\n(c) paragraph 20(1)(a), (b) and (c);\n(d) in paragraph 27(1), in the definitions of Debits and Credits the words from under to accounting policy);\n(e) in paragraph 134(1), the words following paragraph (b).\nFinance Act 2004 (c. 12)\nIn sections 50(6), 51(6), 52(3) and 54(2), paragraph (b) and the word and preceding it.\nIn Schedule 10—\n(a) paragraph 12;\n(b) paragraph 72;\n(c) paragraph 73(3);\n(d) paragraphs 74 to 76.\n(8) Double taxation relief: limits on credit\nThis repeal has effect in accordance with the provisions of section 86 of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nSubsections (4) to (9) of section 803.\n(9) Tax avoidance involving annual payments and double taxation relief\nThese repeals have effect in accordance with section 91(8) of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nSection 801(4A) to (4D).\nFinance Act 2001 (c. 9)\nIn Schedule 27, paragraph 3.\n(10) Tonnage tax\nThis repeal has effect in accordance with paragraph 18(1) of Schedule 7 to this Act.\nShort title and chapter\nExtent of repeal\nFinance Act 2000 (c. 17)\nIn Schedule 22, paragraph 105.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/7/schedule/11/part/2",
    "retrieved_at": "2026-10-29T09:16:26.978887+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}