{
  "url": "https://openlegislation.uk/finance-act-2007/schedule-27/part-2",
  "json_url": "https://openlegislation.uk/finance-act-2007/schedule-27/part-2.json",
  "legislation": "ukpga/2007/11",
  "legislation_title": "Finance Act 2007",
  "legislation_url": "https://openlegislation.uk/finance-act-2007",
  "path": "schedule/27/part/2",
  "kind": "part",
  "number": "2",
  "heading": "Income tax, corporation tax and capital gains tax",
  "text": "(1) Restrictions on trade loss relief for partners\nThese repeals have effect in accordance with Schedule 4 to this Act.\nShort title and chapter\nExtent of repeal\nIncome Tax Act 2007 (c. 3)\nIn section 104(5), the words “(see section 112)”.\nSection 106.\nIn section 107(2), the words “(see section 112)”.\nIn section 110(1)(a), the words “(see section 112)”.\nSection 112(1) to (5).\nIn section 115(1)(d), the words “(see section 112)”.\nSection 116.\n(2) Extension of restrictions on allowable capital losses\nThese repeals have effect in accordance with section 27 of this Act.\nShort title and chapter\nExtent of repeal\nTaxation of Chargeable Gains Act 1992 (c. 12)\nSection 8(2A) to (2C).\nFinance Act 2006 (c. 25)\nSection 69.\n(3) Avoidance involving financial arrangements\nThese repeals have effect in accordance with Schedule 5 to this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nSection 347A.\nSection 660C(4).\nFinance Act 1988 (c. 39)\nSection 36(1).\nCapital Allowances Act 2001 (c. 2)\nIn section 228F—\n(a)subsection (4), and\n(b)in subsection (8), paragraph (b) (together with the word “and” before it).\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nIn Schedule 1, paragraph 272(4).\nIncome Tax Act 2007 (c. 3)\nIn Schedule 1, paragraph 52.\n(4) Restrictions on companies buying losses or gains: tax avoidance schemes\nThese repeals have effect in accordance with section 32 of this Act.\nShort title and chapter\nExtent of repeal\nTaxation of Chargeable Gains Act 1992 (c. 12)\nIn section 184A(2), the words “unless the gains accrue to the company on a disposal of a pre-change asset”.\nIn section 184B(2), the words “unless the loss accrues to the company on a disposal of a pre-change asset”.\nFinance Act 2006 (c. 25)\nIn section 70(9)—\n(a)in paragraph (a), the words “or 184B”,\n(b)paragraph (d) (together with the word “and” following it), and\n(c)in paragraph (e), the words “, or a qualifying gain for the purposes of section 184B of that Act,”.\n(5) Employee benefit contributions\nThese repeals have effect in accordance with section 34 of this Act.\nShort title and chapter\nExtent of repeal\nFinance Act 2003 (c. 14)\nIn Schedule 24, in paragraph 9(1), the definition of “the third party”.\nFinance Act 2004 (c. 12)\nSection 245(2).\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nIn Schedule 1, paragraph 624(2).\n(6) Schemes etc designed to increase double taxation relief\nThis repeal has effect in accordance with section 35 of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 804ZA(8)(c), the words “resident in a territory outside the United Kingdom”.\n(7) Insurance companies: gross-roll up business etc\nThese repeals have effect in accordance with section 38 of this Act.\nShort title and chapter\nExtent of repeal\nTaxes Management Act 1970 (c. 9)\nIn section 98, in the Table, the entries relating to section 333B of the Income and Corporation Taxes Act 1988.\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 76—\n(a)in subsection (1), the second sentence,\n(b)subsection (14), and\n(c)in subsection (15), the definition of “capital redemption business”.\nSection 333B.\nSection 403E(3).\nIn section 431(2), the definitions of “annuity business” and “overseas life assurance fund”.\nIn section 431A(3)(a), the words “and Schedule 19AA”.\nIn section 432A—\n(a)subsection (4),\n(b)in subsection (5), the words “(apart from overseas life assurance business)”,\n(c)in subsection (7)(c)(i), the word “438B,” and\n(d)subsection (9).\nIn section 432AA—\n(a)subsection (3), and\n(b)in subsection (5), the words “(3) or”.\nSection 432AB(6).\nIn section 432B—\n(a)in subsection (4), paragraph (b) and the word “and” before it,\n(b)in subsection (5), the words “the relevant fraction of”,\n(c)in subsection (7), the words “the relevant fraction of” (in both places),\n(d)in subsections (8A) and (8C), the words “the relevant fraction of”, and\n(e)in subsection (9), the definitions of “the relevant fraction” and “the section 83 net amount”.\nSection 432D.\nIn section 432E—\n(a)in subsection (3)(b), the words “mentioned in subsection (1) above”, and\n(b)subsections (5) and (6).\nIn section 432F(2)—\n(a)the words “For each category of business in relation to which section 432E falls to be applied”, and\n(b)the words “, after making any reduction required by section 432E(5),”.\nSection 434(6A)(b).\nIn section 434A(2)(a), the words “the aggregate of” and sub-paragraph (iii).\nSection 436.\nSection 438(2) and (4).\nSection 438B.\nSection 438C.\nSection 439.\nSection 439B.\nSection 440A(2)(c).\nSection 441.\nIn section 444A(3), paragraph (b) and the word “or” before it.\nSections 458 and 458A.\nSection 460(2)(cb).\nSection 461(3A).\nSection 461B(2A).\nIn section 466—\n(a)in subsection (2), the definition of “life assurance business”, and\n(b)subsections (2ZA), (2A) and (2B).\nIn section 804B—\n(a)in subsection (2), the words “or section 438B”,\n(b)in subsection (4), the words “or 438B”, and\n(c)in subsection (6), the words “or 432D” (in both places).\nSchedule 19AA.\nFinance Act 1989 (c. 26)\nIn Schedule 8, paragraph 6.\nFinance Act 1990 (c. 29)\nIn Schedule 6—\n(a)in paragraph 1(2)(b), the entry relating to “overseas life assurance fund”, and\n(b)paragraph 7.\nIn Schedule 7, paragraphs 3, 6 and 10(2).\nFinance Act 1991 (c. 31)\nIn Schedule 7, paragraph 4(1)(b).\nIn Schedule 15, paragraph 16.\nTaxation of Chargeable Gains Act 1992 (c. 12)\nIn section 204(10)(b), the word “other”.\nIn section 210B(6), paragraph (b) and the word “or” before it.\nIn section 213(1A), the words following “general annuity business”.\nFinance Act 1995 (c. 4)\nIn Schedule 8—\n(a)in paragraph 1, the entry relating to “reinsurance business”,\n(b)paragraph 3,\n(c)paragraph 5(2),\n(d)paragraph 8,\n(e)paragraph 9(2),\n(f)in paragraph 12(1)(a), the words “section 432C(1), section 432D(1) (in both places) and” and “and (6)(a)”,\n(g)paragraph 13(5),\n(h)paragraph 14,\n(i)paragraph 15,\n(j)paragraph 16(3),\n(k)paragraph 17(2),\n(l)paragraph 27(1) and (2),\n(m)paragraph 51(5), and\n(n)in paragraph 55(1), the word “3,”.\nIn Schedule 9, paragraph 1(3).\nFinance Act 1996 (c. 8)\nSection 167(2).\nSection 168(1) and (3).\nIn Schedule 11—\n(a)in paragraph 3A(5), paragraph (c) and the word “and” before it, and\n(b)in paragraph 4, in sub-paragraph (1), paragraph (b) and the word “or” before it, and sub-paragraph (16).\nIn Schedule 31, paragraph 7(2).\nFinance (No. 2) Act 1997 (c. 58)\nIn Schedule 3, paragraphs 3 and 6(3).\nFinance Act 1998 (c. 36)\nSection 77.\nFinance Act 2000 (c. 17)\nSection 108(1).\nSection 109(3), (4), (7) and (9)(b).\nIn Schedule 27, paragraph 8.\nCapital Allowances Act 2001 (c. 2)\nSection 255(2).\nFinance Act 2001 (c. 9)\nIn Schedule 22, in paragraph 14(10), “or (6)”.\nIn Schedule 25, paragraphs 5, 6 and 8.\nFinance Act 2003 (c. 14)\nIn section 153(1)(a), the words “in Schedule 19AA, paragraph 5(5)(c);”.\nIn Schedule 33, paragraphs 1(3)(a) and (4)(a), 6(7)(a), 9, 10(2) and 13(6)(b).\nChild Trust Funds Act 2004 (c. 6)\nSection 14.\nFinance Act 2004 (c. 12)\nSection 147(1), (2) and (4).\nIn Schedule 7, paragraph 9(1).\nIn Schedule 35, paragraph 22(3).\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nIn Schedule 1, paragraphs 143 and 175.\nFinance (No. 2) Act 2005 (c. 22)\nIn Schedule 9—\n(a)paragraph 18(5) and (6), and\n(b)paragraph 19(1) to (3).\nIncome Tax Act 2007 (c. 3)\nIn Schedule 1, paragraphs 78 and 83.\n(8) Insurance companies: basis of taxation etc\nThese repeals have effect in accordance with section 39 of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 76—\n(a)in subsection (7), Steps 9 and 10, and\n(b)subsections (10) and (11).\nSection 439A.\nSection 440B(5).\nFinance Act 1989 (c. 26)\nSection 88(2).\nTaxation of Chargeable Gains Act 1992 (c. 12)\nSection 212(7A).\nFinance (No.2) Act 1992 (c. 48)\nSection 65.\nFinance Act 1993 (c. 34)\nIn Schedule 14, paragraph 9.\nFinance Act 1995 (c. 4)\nIn Schedule 8—\n(a)paragraph 12(3),\n(b)paragraph 16(6),\n(c)paragraph 20(2),\n(d)paragraph 26,\n(e)paragraph 28(5), and\n(f)paragraph 51(3).\nFinance Act 1996 (c. 8)\nIn Schedule 11, paragraph 4(12) to (14).\nFinance (No.2) Act 1997 (c. 58)\nIn Schedule 3, paragraph 15.\nFinance Act 2002 (c. 23)\nIn Schedule 29, paragraph 36(6).\nFinance Act 2003 (c. 14)\nIn Schedule 33, paragraph 7.\n(9) Insurance companies: transfers etc\nThese repeals have effect in accordance with Schedule 9 to this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 12(7B), the definition of “insurance business transfer scheme”.\nIn section 444A—\n(a)in subsection (1), the words “Subject to subsection (7) below,” and\n(b)subsections (7) and (8).\nSection 444AB(11) (as originally enacted).\nIn section 444AC(11) (as originally enacted), the definition of “insurance business transfer scheme”.\nSection 444AD.\nSection 460(10B).\nTaxation of Chargeable Gains Act 1992 (c. 12)\nIn Schedule 10, paragraph 14(25).\nFinance Act 1989 (c. 26)\nSection 82C.\nIn section 83—\n(a)subsection (2A)(b),\n(b)in subsection (2B), the second sentence,\n(c)subsections (3) to (7), and\n(d)in subsection (8), the definitions of “add”, “demutualisation” and “total reinsurance”.\nSection 83AA.\nSection 83AB.\nFinance Act 1996 (c. 8)\nIn Schedule 9, in paragraph 12(9), the definition of “insurance business transfer scheme”.\nIn Schedule 31—\n(a)paragraph 5,\n(b)paragraph 9, and\n(c)in paragraph 10(2), the words “Subject to paragraph 9 above,”.\nFinance Act 2000 (c. 17)\nIn Schedule 29, paragraph 30.\nCapital Allowances Act 2001 (c. 2)\nSection 560(5)(b).\nFinance Act 2002 (c. 23)\nIn section 66—\n(a)in subsection (5), the definition of “transfer scheme”, and\n(b)subsections (6) and (7).\nIn Schedule 9, paragraph 5(11).\nIn Schedule 22, in paragraph 10—\n(a)in sub-paragraph (4), the definition of “transfer scheme”, and\n(b)sub-paragraphs (5) and (6).\nIn Schedule 26, paragraph 28(5).\nIn Schedule 29, in paragraph 89(3), the definition of “insurance business transfer scheme”.\nFinance Act 2003 (c. 14)\nIn Schedule 33—\n(a)paragraph 2(3), (4) and (6),\n(b)paragraph 5(b),\n(c)paragraphs 18 and 19, and\n(d)paragraph 20(4).\nFinance Act 2004 (c. 12)\nIn Schedule 7—\n(a)paragraphs 2 to 4, and\n(b)in paragraph 5(2) and (3).\nFinance (No.2) Act 2005 (c. 22)\nIn Schedule 9—\n(a)paragraphs 6 and 7,\n(b)paragraph 11,\n(c)paragraph 12(4) and (6), and\n(d)paragraph 20(3) to (5).\nFinance Act 2006 (c. 25)\nIn Schedule 11—\n(a)paragraph 3,\n(b)paragraph 4, and\n(c)paragraph 6(2).\n(10) Insurance companies: miscellaneous\nThese repeals have effect in accordance with Schedule 10 to this Act.\nShort title and chapter\nExtent of repeal\nTaxes Management Act 1970 (c. 9)\nIn section 98, in the Table, in both columns, the words “or 441A(3)”.\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 12(7B), the words from the beginning to the end of the definition of “contracts of long-term insurance”.\nIn section 76—\n(a)in subsection (7), in Step 3, the entries relating to section 587B(8)(b)(i) of ICTA and paragraph 23(2) of Schedule 13 to FA 2002, and\n(b)in subsection (15), the words “and other expressions have the same meaning as in Chapter 1 of Part 12”.\nSection 431A(7).\nIn section 432YA(5), the definitions of “non-profit company” and “non-profit fund”.\nIn section 432ZA(6), the definition of “internal linked fund”.\nSection 432A(9A).\nIn section 432E(2A), the words “444ACA(2),” and paragraph (b).\nSection 440(2A), (2B) and (5).\nSection 442(4).\nSections 443 and 444.\nSection 444AB(6) (as originally enacted).\nIn section 444AC(11) (as originally enacted), the words from the beginning to the end of the definition of “fair value”.\nSection 444ACA.\nSection 444AD(5).\nIn section 502H—\n(a)in subsection (2), paragraph (b) and the word “and” before it”, and\n(b)subsections (8) to (10).\nIn section 587B—\n(a)subsection (8), and\n(b)in subsection (9), the words “ “life assurance business” and related expressions have the same meaning as in Chapter 1 of Part 12;”.\nIn section 587BA—\n(a)subsection (12), and\n(b)in subsection (13), paragraph (b) and the word “and” before it.\nIn section 755A(12), the definition of “long-term insurance fund”.\nSection 804F.\nIn section 807A—\n(a)subsections (4) and (5)(b), and\n(b)in subsection (6)(a), the words “or an insurance credit”.\nIn Schedule 28AA, in paragraph 14(1), the definition of “insurance company”.\nFinance Act 1989 (c. 26)\nSection 82D(5).\nIn section 83(8), in the definition of “fair value”, paragraph (a).\nIn section 83YA—\n(a)subsection (8), and\n(b)in subsection (11), the definition of “with-profits fund”.\nSection 83YB(5).\nIn section 83A—\n(a)in subsection (1), the words “In sections 82A to 83AB”,\n(b)in subsections (2)(b) and (3D)(b), the words “(see subsection (6))”, and\n(c)subsection (6).\nSection 84(2), (3), (5) and (6).\nIn section 85—\n(a)in subsection (2A), the second sentence, and\n(b)in subsection (3), the words “(including the 1990 component period)”.\nIn section 86—\n(a)subsections (3) and (3A), and\n(b)in subsection (10), the words “(including the 1990 component period)”.\nSection 87.\nIn section 89(6), the words from the beginning to “; and”.\nSection 90A.\nFinance Act 1991 (c. 31)\nIn Schedule 7—\n(a)paragraph 13(2),\n(b)in paragraph 16(7), the words from “and, subject to that,” to the end, and\n(c)paragraph 17(4A) and (5).\nTaxation of Chargeable Gains Act 1992 (c. 12)\nIn section 210B(8), the definition of “internal linked fund”.\nSection 212(2A).\nSection 214.\nSection 214A.\nSection 214BA.\nIn Schedule 7AC, paragraph 17(5).\nIn Schedule 10, paragraph 14(22)(b).\nFinance Act 1993 (c. 34)\nSection 91(5) and (6).\nFinance Act 1995 (c. 4)\nIn Schedule 8, paragraph 9(3).\nIn Schedule 9—\n(a)in paragraph 1(2)(d), the words “214(11) and 214A(7)”, and\n(b)paragraph 5.\nFinance Act 1996 (c. 8)\nIn section 87A(2), the words “, within the meaning of Chapter 1 of Part 12 of the Taxes Act 1988,” and the words “(see section 431(2) of that Act)”.\nSection 88(7).\nIn section 103(3), the word “or” at the end of paragraph (a).\nIn Schedule 9—\n(a)in paragraph 12(9), the definitions of “contracts of long-term insurance” and “overseas life insurance company”, and\n(b)in paragraph 20(3)(b), the words “, within the meaning of Chapter 1 of Part 12 of the Taxes Act 1988,” and the words “(see section 431(2) of that Act)”.\nIn Schedule 11—\n(a)paragraph 1,\n(b)paragraph 2(2) and (3) to (5),\n(c)paragraph 3A(6),\n(d)paragraph 4(6), and\n(e)paragraphs 5 and 6.\nIn Schedule 14, paragraphs 25 and 63.\nIn Schedule 15, paragraph 1(3).\nIn Schedule 31, paragraph 6.\nFinance Act 1997 (c. 16)\nIn Schedule 12—\n(a)paragraph 18, and\n(b)paragraph 19(1) to (3).\nFinance Act 1998 (c. 36)\nIn Schedule 18—\n(a)in paragraph 13(3), the words after “1988”, and\n(b)paragraph 86.\nFinance Act 1999 (c. 16)\nIn Schedule 6, paragraph 4.\nFinance Act 2000 (c. 17)\nIn Schedule 30, paragraph 19.\nCapital Allowances Act 2001 (c. 2)\nSection 257(3).\nSection 544(5).\nSection 560(5)(a) and (c).\nFinance Act 2001 (c. 9)\nSection 87(3) and (4).\nIn Schedule 22, in paragraph 31(1), the definitions of “insurance company” and “life assurance business”.\nFinance Act 2002 (c. 23)\nIn section 66(5), the words from the beginning to the end of the definition of “long-term insurance fund”.\nIn Schedule 12, in paragraph 19(1), the definition of “life assurance business”.\nIn Schedule 13—\n(a)paragraphs 22 and 23,\n(b)paragraph 25(3), and\n(c)in paragraph 27, the definition of “life assurance business”.\nIn Schedule 22, in paragraph 10(4), the words before the definition of “transfer scheme”.\nIn Schedule 26—\n(a)in paragraph 12, in sub-paragraph (1), the references to the expressions “Integrated Prudential Sourcebook” and “long-term insurance fund” and sub-paragraphs (15) and (16), and\n(b)in paragraph 54(1), the definitions of “insurance company”, “life assurance business”, “long-term insurance business” and “contract of long-term insurance”.\nIn Schedule 27, paragraph 5.\nIn Schedule 29—\n(a)paragraph 36(4) and (5),\n(b)in paragraph 89(3), the definition of “contracts of long-term insurance”, and\n(c)paragraph 138(1).\nFinance Act 2003 (c. 14)\nIn Schedule 33, paragraphs 1(2), 26 and 30 to 32.\nFinance Act 2004 (c. 12)\nIn Schedule 10, paragraphs 43 and 70.\nFinance (No.2) Act 2005 (c. 22)\nIn Schedule 9, paragraphs 4, 8, and 13(5).\nFinance Act 2006 (c. 25)\nSection 134(4)(c).\nIncome Tax Act 2007 (c. 3)\nIn section 442(6), paragraph (b) and the word “and” before it.\nSection 443(6).\nIn Schedule 1, paragraph 137(8).\n(11) Technical provisions made by general insurers\nThese repeals have effect in accordance with Schedule 11 to this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nSection 804E(3)(d).\nFinance Act 2000 (c. 17)\nSection 107.\nFinance Act 2003 (c. 14)\nSection 153(1)(c).\n(12) Friendly societies\nThese repeals have effect in accordance with Schedule 12 to this Act.\nShort title and chapter\nExtent of repeal\nFinance (No.2) Act 1992 (c. 48)\nIn Schedule 9, paragraphs 8(3) and 11(2).\n(13) Purchased life annuities\nThese repeals have effect in accordance with section 46 of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nSection 437(1C)(c)(i) and (d)(i).\nSection 656(5) and (6).\nSection 658(1) and (4) to (6).\nIn section 828(4), the word “658(3)”.\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nSection 717(3).\nSection 723.\nSection 724(2).\nSection 873(3)(b).\nIn Schedule 1, paragraphs 268(3) and 270.\nIn Schedule 2, paragraphs 143 and 145.\nCommissioners for Revenue and Customs Act 2005 (c. 11)\nIn Schedule 4, paragraph 133(5).\n(14) Sale and repurchase of securities\nThese repeals have effect in accordance with section 47 of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 231AA(4), the words “or 737A(5)”.\nSections 730A to 730BB.\nIn section 731(2A), the words “section 737A(5) below or”.\nSections 737A to 737C.\nSection 737E.\nTaxation of Chargeable Gains Act 1992 (c. 12)\nSection 263A(2).\nFinance Act 1994 (c. 9)\nSection 122.\nFinance Act 1995 (c. 4)\nSection 80(1) and (3).\nFinance Act 1996 (c. 8)\nSection 100(2A).\nIn Schedule 14, paragraph 37.\nFinance Act 1997 (c. 16)\nSection 91(5).\nFinance Act 2002 (c. 23)\nIn Schedule 25, paragraphs 32 and 52.\nFinance Act 2003 (c. 14)\nIn Schedule 38, paragraphs 2, 3, 5, 7 to 14, 16 to 20 and 21(3).\nFinance Act 2004 (c. 12)\nIn Schedule 10, paragraphs 44 and 78.\nFinance (No.2) Act 2005 (c. 22)\nIn Schedule 7, paragraph 19.\nFinance Act 2006 (c. 25)\nSection 139(5).\nIn Schedule 6, paragraphs 5 and 20.\nIncome Tax Act 2007 (c. 3)\nIn Schedule 1, paragraphs 164 to 166, 173, 174 and 334.\n(15) Controlled foreign companies\nThese repeals have effect in accordance with Schedule 15 to this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 748(1), paragraph (c) (together with the word “or” at the end of it).\nIn Schedule 25, Part 3.\nFinance Act 1996 (c. 8)\nIn Schedule 38, in paragraph 6—\n(a)in sub-paragraph (2), paragraph (m) (together with the word “and” before it), and\n(b)in sub-paragraph (5), the words “and (m)”.\n(16) Venture capital schemes\nThese repeals have effect in accordance with Schedule 16 to this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 297(5A), paragraphs (b) and (c) and the words after paragraph (c).\nIn section 312(1), in the definition of “qualifying 90% subsidiary”, the words “to (13)”.\nFinance Act 2000 (c. 17)\nIn Schedule 15—\n(a)in paragraph 15, the word “and” at the end of paragraph (f), and\n(b)paragraph 23(10) and (11).\nFinance Act 2004 (c. 12)\nIn Schedule 18, paragraph 1(8).\nIn Schedule 20, paragraph 7(d).\nIncome Tax Act 2007 (c. 3)\nIn section 195(6), the definition of “holding company”.\nIn section 274(3), the word “and” at the end of paragraph (c).\nIn section 284(d), the words “for Her Majesty's Revenue and Customs”.\nIn section 306(6), the definition of “holding company”.\nIn section 327(1), the word “and” immediately before “section 297”.\n(17) Real Estate Investment Trusts\nThese repeals have effect in accordance with section 52 of this Act.\nShort title and chapter\nExtent of repeal\nFinance Act 2006 (c. 25)\nSection 107(5), (7) and (7A).\nIn section 115(2), the words “+ Financing Costs”.\nIn Schedule 17—\n(a)paragraph 6(2) and (3), and\n(b)in paragraph 14, the words “+ FinancingCosts (all)” and paragraph (b) of the substituted subsection (2).\nIncome Tax Act 2007 (c. 3)\nIn Schedule 1, paragraph 617.\n(18) Offshore funds\nThis repeal has effect in accordance with section 57 of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn Schedule 27, in paragraph 6(1)(c), the words “without regard to the provisions of this paragraph,”.\n(19) Benefits code: whether employment is “lower-paid employment”\nThis repeal has effect in accordance with section 62 of this Act.\nShort title and chapter\nExtent of repeal\nIncome Tax (Earnings and Pensions) Act 2003 (c. 1)\nSection 219(5) and (6).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/11/schedule/27/part/2",
    "retrieved_at": "2026-10-29T09:12:51.142391+00:00"
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  "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."
}