The Finance Act 2015 (Paragraphs 10 to 12 of Schedule 6) Regulations 2015
S.I. 2015/1836 · Made 27 October 2015
Income Tax
Made 27th October 2015
Coming into force 30th November 2015
The Treasury, in exercise of the power conferred by paragraph 14 of Schedule 6 to the Finance Act 2015f1, make the following Regulations:
Annotations to the whole text
Footnotes
- f1
Contents
1Citation
These Regulations may be cited as the Finance Act 2015 (Paragraphs 10 to 12 of Schedule 6) Regulations 2015 and come into force on 30th November 2015.
2Paragraphs 10 to 12 of Schedule 6
In respect of Schedule 6 to the Finance Act 2015—
paragraph 10 has effect in relation to shares issued on or after 30th November 2015;
paragraph 11 has effect in relation to relevant holdingsf1 issued on or after 30th November 2015; and
paragraph 12 has effect on 30th November 2015.
Signature
George Hollingbery
Mel Stride
Two of the Lords Commissioner of Her Majesty’s Treasury
27th October 2015
Explanatory note
(This note is not part of the Regulations)
The Regulations provide for 30th November 2015 as the date that paragraphs 10 to 12 of Schedule 6 to the Finance Act 2015 (c. 11) have effect.
Paragraph 10 amends sections 198A and 198B of the Income Tax Act 2007 (c. 3) (“ITA”) such that various categories of entity cease to be entitled to income tax relief under the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme in respect of certain energy generation activities.
Paragraph 11 amends sections 309A and 309B of ITA such that various categories of entity cease to be entitled to income tax relief under the Venture Capital Trusts scheme in respect of certain energy generation activities.
Paragraph 12 makes various consequential amendments.
A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy.