OpenLegislation

Finance Act 2021

2021 c. 26 · Enacted 10 June 2021 · Extends to United Kingdom

Not fully up to date. 3 changes made by later legislation have not yet been written into this text, which is revised to 1 April 2026.

See the changes not yet applied
ProvisionChangeMade by
s. 49(4)words omittedFinance Act 2026 s. 106(a)
s. 49(5)omittedFinance Act 2026 s. 106(b)
Sch. 24modifiedThe Carbon Border Adjustment Mechanism (Transitory Provision) Regulations 2026 reg. 3
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.[10th June 2021]

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:—

Contents

  1. Part 1: Income tax, corporation tax and capital gains tax
  2. Income tax charge, rates etc
  3. 1Income tax charge for tax year 2021-22
  4. 2Main rates of income tax for tax year 2021-22
  5. 3Default and savings rates of income tax for tax year 2021-22
  6. 4Starting rate limit for savings for tax year 2021-22
  7. 5Basic rate limit and personal allowance for future tax years
  8. Corporation tax charge and rates
  9. 6Charge and main rate for financial years 2022 and 2023
  10. 7Small profits rate chargeable on companies from 1 April 2023
  11. Rate of diverted profits tax
  12. 8Increase in the rate of diverted profits tax
  13. Capital allowances: super-deductions etc
  14. 9Super-deductions and other temporary first-year allowances
  15. 10Further provision about super-deductions etc
  16. 11Reduced super-deduction
  17. 12Disposal of assets where super-deduction made
  18. 13Disposal of assets where SR allowance made
  19. 14Counteraction where arrangements are contrived etc
  20. Capital allowances: other measures
  21. 15Extension of temporary increase in annual investment allowance
  22. 16Meaning of “general decommissioning expenditure”
  23. 17Extensions of plant or machinery leases for reasons related to coronavirus
  24. Reliefs for business
  25. 18Temporary extension of periods to which trade losses may be carried back
  26. 19R&D tax credits for SMEs
  27. 20Extension of social investment tax relief for further two years
  28. Employment income
  29. 21Workers' services provided through intermediaries
  30. 22Payments on termination of employment
  31. 23Cash equivalent benefit of a zero-emissions van
  32. 24Enterprise management incentives
  33. 25Cycles and cyclist's safety equipment
  34. 26Exemption for coronavirus tests
  35. 27Optional remuneration arrangements: statutory parental bereavement pay
  36. Pensions
  37. 28Freezing the standard lifetime allowance
  38. 29Collective money purchase benefits
  39. Construction industry scheme
  40. 30Construction industry scheme
  41. Coronavirus support payments etc
  42. 31Covid-19 support scheme: working households receiving tax credits
  43. 32Self-employment income support scheme
  44. 33Deduction where business rates etc repaid
  45. Exemptions from income tax
  46. 34Repeal of provisions relating to the Interest and Royalties Directive
  47. 35Payments made to victims of modern slavery etc
  48. Miscellaneous corporation tax measures
  49. 36Hybrid and other mismatches
  50. 37Relief for losses etc
  51. 38Corporate interest restriction: minor amendments
  52. 39Northern Ireland Housing Executive
  53. Capital gains tax
  54. 40Annual exempt amount
  55. 41Hold-over relief for foreign-controlled companies
  56. Part 2: Plastic packaging tax
  57. Introductory
  58. 42Plastic packaging tax
  59. Charging of plastic packaging tax
  60. 43Charge to plastic packaging tax
  61. 44Liability to pay plastic packaging tax
  62. 45Rate
  63. 46Payment
  64. Interpretation of main terms etc
  65. 47Chargeable plastic packaging components
  66. 48Meaning of “plastic packaging component”
  67. 49Meaning of “plastic” and “recycled plastic” , “recycled plastic” and “attributed recycled plastic”
  68. 49AMeaning of “chemical recycling certification scheme”
  69. 49BChemical recycling certification schemes: further conditions
  70. 50Time of importation
  71. Deferrals, exemptions and credits
  72. 51Plastic packaging components intended for export
  73. 52Exempt plastic packaging components
  74. 53Tax credits
  75. Registration
  76. 54The register
  77. 55Liability to register: producers and importers
  78. 56Notification of liability and registration
  79. 57Cancellation of registration
  80. 58Correction of the register
  81. Secondary liability and joint and several liability notices
  82. 59Notices imposing secondary or joint and several liability
  83. Administration and enforcement
  84. 60Measurement of weight etc
  85. 61Payment, collection, recovery
  86. 62Reviews and appeals
  87. 63Records
  88. 64Information and evidence
  89. 65Security for tax
  90. 66Unincorporated bodies
  91. 67Service
  92. Miscellaneous
  93. 68Statements for business customers
  94. 69Tax representatives of non-resident taxpayers
  95. 70Adjustment of contracts
  96. 71Groups of companies
  97. 72Prevention of artificial separation of business activities: directions
  98. 73Prevention of artificial separation of business activities: effect of directions
  99. 74Death, incapacity or insolvency of person carrying on a business: regulations
  100. 75Transfer of business as a going concern: regulations
  101. 76Isle of Man: import and export of chargeable plastic packaging components
  102. Offences and penalties
  103. 77Fraudulent evasion
  104. 78Misstatements
  105. 79Conduct involving evasions or misstatements
  106. 80Penalty for contravening relevant requirements
  107. 81Criminal proceedings
  108. General
  109. 82Minor and consequential amendments
  110. 83Interpretation
  111. 84Regulations
  112. 85Commencement etc
  113. Part 3: Other taxes
  114. Inheritance tax
  115. 86Rate bands etc for tax years 2021-22 to 2030-31
  116. Stamp duty land tax
  117. 87Temporary period for reduced rates on residential property
  118. 88Increased rates for non-resident transactions
  119. 89Relief from higher rate charge for certain housing co-operatives etc
  120. Annual tax on enveloped dwellings
  121. 90Relief for certain housing co-operatives
  122. 91Repayment to certain housing co-operatives: 2020-21 chargeable period
  123. Value added tax
  124. 92Extension of temporary 5% reduced rate for hospitality and tourism sectors
  125. 93Temporary 12.5% reduced rate for hospitality and tourism sectors
  126. 94Extending digital record-keeping for VAT purposes to all businesses
  127. 95Distance selling: Northern Ireland
  128. 96Distance selling: power to make further provision
  129. 97Supply of imported works of art etc
  130. 98Continuing effect of principle preventing the abuse of the VAT system
  131. 99Deferring VAT payment by reason of the coronavirus emergency
  132. 100Refunds to S4C
  133. Customs duty
  134. 101Steel removed to Northern Ireland
  135. Fuel duties
  136. 102Restriction of use of rebated diesel and biofuels
  137. Tobacco products duty
  138. 103Rates of tobacco products duty
  139. Vehicle taxes
  140. 104Rates for light passenger or light goods vehicles, motorcycles etc
  141. 105Rebates where higher rate of duty paid
  142. 106HGV road user levy (extension of suspension) Repealed
  143. Air passenger duty
  144. 107Rates of air passenger duty from 1 April 2022
  145. Gaming duty
  146. 108Amounts of gross gaming yield charged to gaming duty
  147. Environmental taxes
  148. 109Rates of climate change levy from 1 April 2022 to 31 March 2023
  149. 110Rates of climate change levy from 1 April 2023
  150. 111Rates of landfill tax
  151. 112Repeal of carbon emissions tax
  152. Part 4: Miscellaneous and final
  153. Freeports and investment zones
  154. 113Designation of special tax sites
  155. 114Capital allowances for freeport tax sites
  156. 115Relief from stamp duty land tax for freeport tax sites
  157. Penalties
  158. 116Penalties for failure to make returns etc
  159. 117Penalties for failure to pay tax
  160. 118Penalties for failure to make returns etc or pay tax: consequential provision
  161. 119Follower notice penalties
  162. Interest
  163. 120Late payment interest and repayment interest: VAT
  164. Avoidance
  165. 121Promoters of tax avoidance schemes
  166. 122Disclosure of tax avoidance schemes
  167. 123Penalties for enablers of defeated tax avoidance
  168. 124The GAAR and partnerships
  169. Conditionality
  170. 125Licensing authorities: requirements to give or obtain tax information
  171. HMRC powers
  172. 126Financial institution notices
  173. 127Collection of tax debts
  174. 128Miscellaneous amendments of Schedule 36 to FA 2008
  175. 129International arrangements for exchanging information on the gig economy Repealed
  176. 130Unauthorised removal or disposal of seized goods
  177. 131Temporary approvals etc pending review or appeal
  178. Banking
  179. 132Replacement of LIBOR with incremental borrowing rate
  180. 133Tax consequences of reform etc of LIBOR and other reference rates
  181. 134Powers of the Treasury to amend legislation relating to banks
  182. Other
  183. 135Interpretation
  184. 136Short title
  185. Schedule 1: Small profits rate for non-ring fence profits
  186. Part 1: Small profits rate
  187. 1Paragraph 1
  188. 2Paragraph 2
  189. 3Paragraph 3
  190. Part 2: Amendments of Chapter 3A of Part 8 of CTA 2010
  191. 4Paragraph 4
  192. 5Paragraph 5
  193. 6Paragraph 6
  194. 7Paragraph 7
  195. 8Paragraph 8
  196. 9Paragraph 9
  197. 10Paragraph 10
  198. 11Paragraph 11
  199. Part 3: Consequential amendments
  200. FA 1998
  201. 12Paragraph 12
  202. Corporation Tax (Instalment Payments) Regulations 1998
  203. 13Paragraph 13
  204. FA 2000
  205. 14Paragraph 14
  206. CAA 2001
  207. 15Paragraph 15
  208. 16Paragraph 16
  209. 17Paragraph 17
  210. CTA 2010
  211. 18Paragraph 18
  212. 19Paragraph 19
  213. 20Paragraph 20
  214. 21Paragraph 21
  215. 22Paragraph 22
  216. 23Paragraph 23
  217. 24Paragraph 24
  218. 25Paragraph 25
  219. 26Paragraph 26
  220. 27Paragraph 27
  221. 28Paragraph 28
  222. 29Paragraph 29
  223. 30Paragraph 30
  224. 31Paragraph 31
  225. FA 2012
  226. 32Paragraph 32
  227. Part 4: Commencement etc
  228. Commencement
  229. 33Paragraph 33
  230. 34Paragraph 34
  231. Power to make further consequential amendments
  232. 35Paragraph 35
  233. Schedule 2: Temporary extension of periods to which trade losses may be carried back
  234. Part 1: Income tax
  235. Relief for trade losses made in tax year 2020-21
  236. 1Paragraph 1
  237. Relief for trade losses made in tax year 2021-22
  238. 2Paragraph 2
  239. Further provision about relief under paragraph 1 or 2
  240. 3Paragraph 3
  241. Part 2: Corporation tax
  242. Relief for trade losses incurred in accounting periods ending in financial year 2020 or 2021
  243. 4Paragraph 4
  244. Cap on claims by company that is not a member of a 2020 group or 2021 group
  245. 5Paragraph 5
  246. Non-de minimis claims to be made after end of financial year
  247. 6Paragraph 6 Not yet in force
  248. Non-de minimis claims to be made in company tax return
  249. 7Paragraph 7
  250. Meaning of “de minimis claim” etc
  251. 8Paragraph 8
  252. Cap on non-de minimis claims by company that is a member of a 2020 group or 2021 group
  253. 9Paragraph 9
  254. Non-de minimis claims by group company to conform with statement
  255. 10Paragraph 10
  256. Loss carry-back allocation statements
  257. 11Paragraph 11
  258. Anti-avoidance
  259. 12Paragraph 12
  260. Interpretation
  261. 13Paragraph 13
  262. Power to modify
  263. 14Paragraph 14
  264. Schedule 3: R&D tax credits for SMEs
  265. Introductory
  266. 1Paragraph 1
  267. Cap on amount of tax credit
  268. 2Paragraph 2
  269. 3Paragraph 3
  270. Commencement
  271. 4Paragraph 4
  272. Schedule 4: R&D tax credits for SMEs: Northern Ireland companies
  273. Cap on amount of tax credit
  274. 1Paragraph 1
  275. 2Paragraph 2
  276. 3Paragraph 3
  277. 4Paragraph 4
  278. 5Paragraph 5
  279. Commencement
  280. 6Paragraph 6
  281. Schedule 5: Pension schemes: collective money purchase benefits
  282. Part 1: Amendments of Part 4 of FA 2004
  283. 1Paragraph 1
  284. 2Paragraph 2
  285. 3Paragraph 3
  286. 4Paragraph 4
  287. 5Paragraph 5
  288. 6Paragraph 6
  289. 7Paragraph 7
  290. 8Paragraph 8
  291. 9Paragraph 9
  292. 10Paragraph 10
  293. 11Paragraph 11
  294. 12Paragraph 12
  295. 13Paragraph 13
  296. 14Paragraph 14
  297. 15Paragraph 15
  298. 16Paragraph 16
  299. 17Paragraph 17
  300. 18Paragraph 18
  301. 19Paragraph 19
  302. 20Paragraph 20
  303. 21Paragraph 21
  304. 22Paragraph 22
  305. 23Paragraph 23
  306. 24Paragraph 24
  307. Part 2: Commencement
  308. 25Paragraph 25
  309. Schedule 6: Construction industry scheme: amendments
  310. Introductory
  311. 1Paragraph 1
  312. Contractors
  313. 2Paragraph 2
  314. 3Paragraph 3
  315. Deductions for materials
  316. 4Paragraph 4
  317. Grace period
  318. 5Paragraph 5
  319. Restrictions on set-off
  320. 6Paragraph 6
  321. Penalties
  322. 7Paragraph 7
  323. Commencement
  324. 8Paragraph 8
  325. Schedule 7: Hybrid and other mismatches
  326. Part 1: Meaning of “tax”
  327. 1Paragraph 1
  328. Part 2: Chapter 3 mismatches: relevant debt relief circumstances
  329. 2Paragraph 2
  330. 3Paragraph 3
  331. 4Paragraph 4
  332. 5Paragraph 5
  333. Part 3: Chapter 3 mismatches: Investment trusts
  334. 6Paragraph 6
  335. 7Paragraph 7
  336. 8Paragraph 8
  337. Part 4: Deemed dual inclusion income
  338. 9Paragraph 9
  339. 10Paragraph 10
  340. 11Paragraph 11
  341. 12Paragraph 12
  342. 13Paragraph 13
  343. Part 5: Deemed dual inclusion income: anti-avoidance
  344. 14Paragraph 14
  345. Part 6: Allocation of dual inclusion income within group
  346. 15Paragraph 15
  347. 16Paragraph 16
  348. Part 7: Financing cost of loan capital
  349. 17Paragraph 17
  350. Part 8: Chapters 9 and 10: carry forward of illegitimate overseas deduction
  351. 18Paragraph 18
  352. Part 9: Imported mismatches
  353. 19Paragraph 19
  354. 20Paragraph 20
  355. 21Paragraph 21
  356. 22Paragraph 22
  357. 23Paragraph 23
  358. Part 10: Meaning of “act together”
  359. 24Paragraph 24
  360. Part 11: Exempt investors in hybrid entities
  361. 25Paragraph 25
  362. 26Paragraph 26
  363. 27Paragraph 27
  364. 28Paragraph 28
  365. 29Paragraph 29
  366. Part 12: Interaction with Part 4 of TIOPA 2010
  367. 30Paragraph 30
  368. 31Paragraph 31
  369. 32Paragraph 32
  370. 33Paragraph 33
  371. Part 13: Securitisation companies
  372. 34Paragraph 34
  373. Part 14: Transparent funds
  374. 35Paragraph 35
  375. Part 15: Commencement
  376. 36Paragraph 36
  377. 37Paragraph 37
  378. 38Paragraph 38
  379. 39Paragraph 39
  380. 40Paragraph 40
  381. Schedule 8: Relief from corporation tax for losses and other amounts
  382. Part 1: Allocation of deductions allowance of former groups
  383. 1Paragraph 1
  384. 2Paragraph 2
  385. 3Paragraph 3
  386. Part 2: Other amendments of CTA 2010
  387. Amendments of section 137 of CTA 2010
  388. 4Paragraph 4
  389. Amendments of Part 5A of CTA 2010
  390. 5Paragraph 5
  391. 6Paragraph 6
  392. 7Paragraph 7
  393. Amendments of Part 7ZA of CTA 2010
  394. 8Paragraph 8
  395. 9Paragraph 9
  396. 10Paragraph 10
  397. 11Paragraph 11
  398. 12Paragraph 12
  399. Amendments of Chapter 7 of Part 14 of CTA 2010
  400. 13Paragraph 13
  401. 14Paragraph 14
  402. 15Paragraph 15
  403. Part 3: Commencement and transitional provision
  404. Commencement
  405. 16Paragraph 16
  406. 17Paragraph 17
  407. 18Paragraph 18
  408. 19Paragraph 19
  409. 20Paragraph 20
  410. 21Paragraph 21
  411. Transitional provision
  412. 22Paragraph 22
  413. 23Paragraph 23
  414. Schedule 9: Plastic packaging tax: secondary liability and assessment notices and joint and several liability notices
  415. Part 1: Secondary liability and assessment notices
  416. Effect of secondary liability and assessment notice
  417. 1Paragraph 1
  418. Test for giving a secondary liability and assessment notice
  419. 2Paragraph 2
  420. Content of secondary liability and assessment notice
  421. 3Paragraph 3
  422. Copy of notice to be given to P
  423. 4Paragraph 4
  424. Application to revoke or reduce amount
  425. 5Paragraph 5
  426. Limitation on secondary liability
  427. 6Paragraph 6
  428. Reduction of amount where P's liability is reduced
  429. 7Paragraph 7
  430. No double payment
  431. 8Paragraph 8
  432. Part 2: Joint and several liability notices
  433. Effect of joint and several liability notice
  434. 9Paragraph 9
  435. Test for giving joint and several liability notice
  436. 10Paragraph 10
  437. Content of joint and several liability notice
  438. 11Paragraph 11
  439. Copy of notice to be given to P
  440. 12Paragraph 12
  441. Revocation
  442. 13Paragraph 13
  443. 14Paragraph 14
  444. 15Paragraph 15
  445. Assessments of liability
  446. 16Paragraph 16
  447. Adjustments
  448. 17Paragraph 17
  449. Limitation on assessments
  450. 18Paragraph 18
  451. No double payment
  452. 19Paragraph 19
  453. Part 3: Application of Schedule 10
  454. 20Paragraph 20
  455. Part 4: Interpretation
  456. Interpretation: related businesses
  457. 21Paragraph 21
  458. Interpretation: general
  459. 22Paragraph 22
  460. Schedule 10: Plastic packaging tax: recovery and overpayments
  461. Part 1: Recovery
  462. Recovery as a debt due
  463. 1Paragraph 1
  464. Assessments of amounts of plastic packaging tax due
  465. 2Paragraph 2
  466. 3Paragraph 3
  467. Supplementary assessments
  468. 4Paragraph 4
  469. Further provision about assessments under paragraphs 2 and 4
  470. 5Paragraph 5
  471. Time limits for assessments
  472. 6Paragraph 6
  473. Part 2: Repayments
  474. Repayments of overpaid tax
  475. 7Paragraph 7
  476. Supplementary provision about repayment etc
  477. 8Paragraph 8
  478. 9Paragraph 9
  479. Reimbursement arrangements
  480. 10Paragraph 10
  481. Assessment for excessive repayment
  482. 11Paragraph 11
  483. Supplementary assessments
  484. 12Paragraph 12
  485. Further provision about assessments under paragraphs 11 and 12
  486. 13Paragraph 13
  487. Time limit for assessments
  488. 14Paragraph 14
  489. Schedule 11: Plastic packaging tax: reviews and appeals
  490. Part 1: Appealable decisions etc
  491. Appealable decisions etc
  492. 1Paragraph 1
  493. 2Paragraph 2
  494. Part 2: Reviews
  495. Offer of review
  496. 3Paragraph 3
  497. Right to require review
  498. 4Paragraph 4
  499. Review by HMRC
  500. 5Paragraph 5
  501. Extensions of time for requiring review
  502. 6Paragraph 6
  503. Review out of time
  504. 7Paragraph 7
  505. Nature of review etc
  506. 8Paragraph 8
  507. Part 3: Appeals
  508. “Appeal tribunal”
  509. 9Paragraph 9
  510. Bringing of appeals
  511. 10Paragraph 10
  512. Further provision about appeals
  513. 11Paragraph 11
  514. Determinations on appeal
  515. 12Paragraph 12
  516. Schedule 12: Plastic packaging tax: information and evidence
  517. Part 1: Information
  518. Power to take samples
  519. 1Paragraph 1
  520. Disclosure of information
  521. 2Paragraph 2
  522. Part 2: Evidence
  523. Evidence by certificate
  524. 3Paragraph 3
  525. Inducements to provide information
  526. 4Paragraph 4
  527. Schedule 13: Plastic packaging tax: groups of companies
  528. Bodies eligible for group treatment
  529. 1Paragraph 1
  530. 2Paragraph 2
  531. Application for group treatment
  532. 3Paragraph 3
  533. 4Paragraph 4
  534. Applications to modify group treatment
  535. 5Paragraph 5
  536. 6Paragraph 6
  537. Applications relating to group treatment
  538. 7Paragraph 7
  539. Termination of group treatment by the Commissioners
  540. 8Paragraph 8
  541. 9Paragraph 9
  542. 10Paragraph 10
  543. Notifications relating to group treatment
  544. 11Paragraph 11
  545. Regulations about applications and notifications
  546. 12Paragraph 12
  547. Schedule 14: Plastic packaging tax: assessment of penalties under section 80
  548. Interpretation
  549. 1Paragraph 1
  550. Assessment etc of penalty
  551. 2Paragraph 2
  552. 3Paragraph 3
  553. Further provision about assessments under paragraphs 2 and 3
  554. 4Paragraph 4
  555. 5Paragraph 5
  556. 6Paragraph 6
  557. Assessment etc of daily penalties
  558. 7Paragraph 7
  559. 8Paragraph 8
  560. Time limits for assessments
  561. 9Paragraph 9
  562. Schedule 15: Plastic packaging tax: amendments of other legislation
  563. Part 1: Penalties
  564. Failure to notify etc
  565. 1Paragraph 1
  566. Failure to comply with requirements relating to returns
  567. 2Paragraph 2
  568. 3Paragraph 3
  569. Failure to make payment on time
  570. 4Paragraph 4
  571. 5Paragraph 5
  572. Errors in documents
  573. 6Paragraph 6
  574. Failure to disclose tax avoidance schemes
  575. 7Paragraph 7
  576. Modifications
  577. 8Paragraph 8
  578. Part 2: Miscellaneous
  579. Provisional collection of plastic packaging tax
  580. 9Paragraph 9
  581. Isle of Man
  582. 10Paragraph 10
  583. HMRC powers to obtain information etc
  584. 11Paragraph 11
  585. Interest
  586. 12Paragraph 12
  587. Serial tax avoidance
  588. 13Paragraph 13
  589. Schedule 16: SDLT: increased rates for non-resident transactions
  590. Amendments of FA 2003
  591. 1Paragraph 1
  592. 2Paragraph 2
  593. 3Paragraph 3
  594. 4Paragraph 4
  595. 5Paragraph 5
  596. Commencement
  597. 6Paragraph 6
  598. Schedule 17: SDLT (relief from higher rate charge for certain housing co-operatives etc): minor and consequential amendments
  599. 1Paragraph 1
  600. 2Paragraph 2
  601. 3Paragraph 3
  602. 4Paragraph 4
  603. 5Paragraph 5
  604. 6Paragraph 6
  605. 7Paragraph 7
  606. 8Paragraph 8
  607. Schedule 18: VAT and distance selling: Northern Ireland
  608. Part 1: Amendments to Schedules 9ZA and 9ZB to VATA 1994
  609. Amendments to Part 9 of Schedule 9ZA to VATA 1994
  610. 1Paragraph 1
  611. 2Paragraph 2
  612. 3Paragraph 3
  613. Amendments to Part 5 of Schedule 9ZB to VATA 1994
  614. 4Paragraph 4
  615. Part 2: Amendments relating to the One Stop Shop and Import One Stop Shop Schemes
  616. 5Paragraph 5
  617. 6Paragraph 6
  618. Part 3: Omission of Part 2 of Schedule 9ZC to VATA 1994
  619. 7Paragraph 7
  620. Part 4: Amendments relating to supplies of goods by persons established outside the United Kingdom that are facilitated by online marketplaces
  621. 8Paragraph 8
  622. Schedule 19: Deferring VAT payment by reason of the coronavirus emergency
  623. Definitions
  624. 1Paragraph 1
  625. Power to agree to further defer payment
  626. 2Paragraph 2
  627. No surcharge
  628. 3Paragraph 3
  629. Penalty
  630. 4Paragraph 4
  631. Amount of penalty
  632. 5Paragraph 5
  633. Assessment of penalty
  634. 6Paragraph 6
  635. Payment of penalty
  636. 7Paragraph 7
  637. Recovery of penalty
  638. 8Paragraph 8
  639. Reviews and appeals
  640. 9Paragraph 9
  641. Double jeopardy
  642. 10Paragraph 10
  643. Notifications etc
  644. 11Paragraph 11
  645. Schedule 20: Customs duty: steel products
  646. 1Paragraph 1
  647. Duty on certain steel products imported on or after 3 March 2021
  648. 2Paragraph 2
  649. Duty on certain steel products imported before 3 March 2021
  650. 3Paragraph 3
  651. Duty on certain steel products removed to Northern Ireland on or after 3 March 2021
  652. 4Paragraph 4
  653. Duty on certain steel products removed to Northern Ireland after IP completion day
  654. 5Paragraph 5
  655. Interpretation
  656. 6Paragraph 6
  657. Power to extend application of the regulations to other goods
  658. 7Paragraph 7
  659. Schedule 21: Restriction of use of rebated diesel and biofuels
  660. 1Paragraph 1
  661. 2Paragraph 2
  662. 3Paragraph 3
  663. 4Paragraph 4
  664. 5Paragraph 5 Not yet in force
  665. 6Paragraph 6 Not yet in force
  666. 7Paragraph 7
  667. 8Paragraph 8
  668. 9Paragraph 9
  669. 10Paragraph 10
  670. 11Paragraph 11
  671. 12Paragraph 12
  672. 13Paragraph 13
  673. 14Paragraph 14 Not yet in force
  674. 15Paragraph 15 Not yet in force
  675. 16Paragraph 16
  676. 17Paragraph 17
  677. 18Paragraph 18 Not yet in force
  678. 19Paragraph 19
  679. 20Paragraph 20
  680. 21Paragraph 21
  681. 22Paragraph 22
  682. 23Paragraph 23
  683. 24Paragraph 24
  684. Schedule 22: Capital allowances for freeport tax sites
  685. Part 1: First-year allowance for plant and machinery
  686. 1Paragraph 1
  687. 2Paragraph 2
  688. 3Paragraph 3
  689. 4Paragraph 4
  690. 5Paragraph 5
  691. Part 2: Structures and buildings allowances
  692. 6Paragraph 6
  693. 7Paragraph 7
  694. 8Paragraph 8
  695. 9Paragraph 9
  696. 10Paragraph 10
  697. 11Paragraph 11
  698. 12Paragraph 12
  699. Part 3: Related amendments
  700. TMA 1970
  701. 13Paragraph 13
  702. CAA 2001
  703. 14Paragraph 14
  704. 15Paragraph 15
  705. 16Paragraph 16
  706. 17Paragraph 17
  707. 18Paragraph 18
  708. Schedule 23: Relief from stamp duty land tax for freeport tax sites
  709. 1Paragraph 1
  710. 2Paragraph 2
  711. 3Paragraph 3
  712. 4Paragraph 4
  713. 5Paragraph 5
  714. 6Paragraph 6
  715. 7Paragraph 7
  716. 8Paragraph 8
  717. Schedule 24: Penalties for failure to make returns etc
  718. Part 1: Introduction
  719. Introduction
  720. 1Paragraph 1
  721. Returns
  722. 2Paragraph 2
  723. Interpretation
  724. 3Paragraph 3
  725. Application of Schedule to persons with multiple businesses etc
  726. 4Paragraph 4
  727. Part 2: Liability to a penalty
  728. Liability to penalty points
  729. 5Paragraph 5
  730. Award of penalty points
  731. 6Paragraph 6
  732. Cancellation of individual penalty points
  733. 6AParagraph 6A
  734. Expiry of individual penalty points
  735. 7Paragraph 7
  736. Expiry of all penalty points for a group of returns
  737. 8Paragraph 8
  738. Penalty points: effect of moving between groups of returns
  739. 9Paragraph 9
  740. 10Paragraph 10
  741. 11Paragraph 11
  742. 12Paragraph 12
  743. 13Paragraph 13
  744. Penalty points: effect of change of representative member of VAT group
  745. 14Paragraph 14
  746. Liability to penalties
  747. 15Paragraph 15
  748. Assessments
  749. 16Paragraph 16
  750. Withdrawal of assessments
  751. 16AParagraph 16A
  752. Time limit for assessments
  753. 17Paragraph 17
  754. Power to amend figures by regulations
  755. 18Paragraph 18
  756. Part 3: Supplementary provision
  757. Reasonable excuse
  758. 19Paragraph 19
  759. Double jeopardy
  760. 20Paragraph 20
  761. Withdrawal of notice to make a return
  762. 21Paragraph 21
  763. Appeals
  764. 22Paragraph 22
  765. 23Paragraph 23
  766. 24Paragraph 24
  767. Partnerships
  768. 25Paragraph 25
  769. Settlements
  770. 26Paragraph 26
  771. Schedule 25: Penalties for deliberately withholding information
  772. Part 1: Introduction
  773. Introduction
  774. 1Paragraph 1
  775. Interpretation
  776. 2Paragraph 2
  777. Part 2: Liability to a penalty
  778. Penalty for deliberately withholding information
  779. 3Paragraph 3
  780. Categories of information
  781. 4Paragraph 4
  782. Power to make changes relating to categories of information by regulations
  783. 5Paragraph 5
  784. Offshore transfers
  785. 6Paragraph 6
  786. Reductions for disclosure
  787. 7Paragraph 7
  788. 8Paragraph 8
  789. Special reduction
  790. 9Paragraph 9
  791. Interaction with other penalties
  792. 10Paragraph 10
  793. Determination of penalty where no return made
  794. 11Paragraph 11
  795. Assessments
  796. 12Paragraph 12
  797. Supplementary assessments
  798. 13Paragraph 13
  799. Time limit for assessments
  800. 14Paragraph 14
  801. Part 3: Supplementary provision
  802. Double jeopardy
  803. 15Paragraph 15
  804. Withdrawal of notice to make a return
  805. 16Paragraph 16
  806. Appeals
  807. 17Paragraph 17
  808. 18Paragraph 18
  809. 19Paragraph 19
  810. Partnerships
  811. 20Paragraph 20
  812. Regulations: supplementary provision
  813. 21Paragraph 21
  814. Schedule 26: Penalties for failure to pay tax
  815. Part 1: Introduction
  816. Introduction
  817. 1Paragraph 1
  818. 2Paragraph 2
  819. Assessments and determinations in default of return
  820. 3Paragraph 3
  821. Part 2: Liability to a penalty
  822. No penalty if payment in full before end of 15 day period
  823. 4Paragraph 4
  824. First penalty: tax remains due at end of 15 day period
  825. 5Paragraph 5
  826. Meaning of “15 day time to pay condition” and “30 day time to pay condition”
  827. 6Paragraph 6
  828. First penalty: effect of breaking time to pay agreement
  829. 7Paragraph 7
  830. Second penalty: tax remains due at end of 30 day period
  831. 8Paragraph 8
  832. Second penalty: effect of breaking time to pay agreement
  833. 9Paragraph 9
  834. Interpretation of Part 2
  835. 10Paragraph 10
  836. Power to amend figures by regulations
  837. 11Paragraph 11
  838. Part 3: Supplementary provision
  839. Reasonable excuse
  840. 12Paragraph 12
  841. Special reduction
  842. 13Paragraph 13
  843. Double jeopardy
  844. 14Paragraph 14
  845. Interaction with other penalties
  846. 15Paragraph 15
  847. Assessments
  848. 16Paragraph 16
  849. 17Paragraph 17
  850. 17AParagraph 17A
  851. Time limit for assessments
  852. 18Paragraph 18
  853. Appeals
  854. 19Paragraph 19
  855. 20Paragraph 20
  856. 21Paragraph 21
  857. Regulations: supplementary provision
  858. 22Paragraph 22
  859. Schedule 27: Schedules 24 to 26: consequential provision
  860. Taxes Management Act 1970
  861. 1Paragraph 1
  862. 2Paragraph 2
  863. 3Paragraph 3
  864. 4Paragraph 4
  865. 5Paragraph 5
  866. 6Paragraph 6
  867. 7Paragraph 7
  868. 8Paragraph 8
  869. 9Paragraph 9
  870. Income and Corporation Taxes Act 1988
  871. 10Paragraph 10
  872. Social Security Contributions and Benefits Act 1992
  873. 11Paragraph 11
  874. 12Paragraph 12
  875. 13Paragraph 13
  876. Social Security Contributions and Benefits (Northern Ireland) Act 1992
  877. 14Paragraph 14
  878. Value Added Tax Act 1994
  879. 15Paragraph 15
  880. 16Paragraph 16
  881. 17Paragraph 17
  882. 18Paragraph 18
  883. 19Paragraph 19
  884. 20Paragraph 20
  885. 21Paragraph 21
  886. 22Paragraph 22
  887. 23Paragraph 23
  888. 24Paragraph 24
  889. 25Paragraph 25
  890. 26Paragraph 26
  891. 27Paragraph 27
  892. 28Paragraph 28
  893. Income Tax (Trading and Other Income) Act 2005
  894. 29Paragraph 29
  895. 30Paragraph 30
  896. 31Paragraph 31
  897. 32Paragraph 32
  898. 33Paragraph 33
  899. 34Paragraph 34
  900. 35Paragraph 35
  901. Corporation Tax Act 2009
  902. 36Paragraph 36
  903. Finance Act 2009
  904. 37Paragraph 37
  905. 38Paragraph 38
  906. 39Paragraph 39
  907. 40Paragraph 40
  908. Finance Act 2012
  909. 41Paragraph 41
  910. Finance Act 2013
  911. 42Paragraph 42
  912. Finance Act 2014
  913. 43Paragraph 43
  914. Finance Act 2015
  915. 44Paragraph 44
  916. Finance Act 2016
  917. 45Paragraph 45
  918. 46Paragraph 46
  919. 47Paragraph 47
  920. 48Paragraph 48
  921. 49Paragraph 49
  922. Finance Act 2017
  923. 50Paragraph 50
  924. Finance (No. 2) Act 2017
  925. 51Paragraph 51
  926. Schedule 28: Follower notice penalties
  927. Part 1: Amendment of Chapter 2 of Part 4 of FA 2014
  928. 1Paragraph 1
  929. Additional penalty for unreasonable tax appeal
  930. 2Paragraph 2
  931. Amount of a section 208 or 208A penalty
  932. 3Paragraph 3
  933. Assessment of a section 208A penalty
  934. 4Paragraph 4
  935. Aggregate penalties
  936. 5Paragraph 5
  937. Alteration of assessment of a section 208 or 208A penalty
  938. 6Paragraph 6
  939. Cancellation of a section 208A penalty
  940. 7Paragraph 7
  941. Appeal against a section 208A penalty
  942. 8Paragraph 8 Not yet in force
  943. Part 2: Amendments consequential on Part 1
  944. FA 2014
  945. 9Paragraph 9
  946. 10Paragraph 10
  947. 11Paragraph 11
  948. 12Paragraph 12
  949. National Insurance Contributions Act 2015
  950. 13Paragraph 13
  951. Part 3: Amendment of Schedule 20 to FA 2015
  952. 14Paragraph 14
  953. Part 4: Commencement
  954. 15Paragraph 15
  955. 16Paragraph 16
  956. Schedule 29: Late payment interest and repayment interest: VAT
  957. 1Paragraph 1
  958. 2Paragraph 2
  959. 3Paragraph 3
  960. 4Paragraph 4
  961. Schedule 30: Amendments of Part 5 of FA 2014
  962. Part 1: Stop notices and information & inspection powers
  963. 1Paragraph 1
  964. 2Paragraph 2
  965. 3Paragraph 3
  966. 4Paragraph 4
  967. 5Paragraph 5
  968. 6Paragraph 6
  969. 7Paragraph 7
  970. 8Paragraph 8
  971. Part 2: Promotion structures
  972. 9Paragraph 9
  973. 10Paragraph 10
  974. 11Paragraph 11
  975. 12Paragraph 12
  976. 13Paragraph 13
  977. 14Paragraph 14
  978. 15Paragraph 15
  979. 16Paragraph 16
  980. 17Paragraph 17
  981. 18Paragraph 18
  982. 19Paragraph 19
  983. Part 3: Conduct and monitoring notices: transferees
  984. Conduct notices: transferees
  985. 20Paragraph 20
  986. Monitoring notices: transferees
  987. 21Paragraph 21
  988. Part 4: Miscellaneous amendments
  989. Conduct notices: significance of conditions
  990. 22Paragraph 22
  991. Conduct notices: regular provision of information
  992. 23Paragraph 23
  993. Conduct notices: withdrawal
  994. 24Paragraph 24
  995. Conduct notices: duration
  996. 25Paragraph 25
  997. Defeat notices
  998. 26Paragraph 26
  999. Monitoring notices: applications to tribunal
  1000. 27Paragraph 27
  1001. Threshold conditions
  1002. 28Paragraph 28
  1003. 29Paragraph 29
  1004. 30Paragraph 30
  1005. 31Paragraph 31
  1006. Schedule 31: Disclosure of tax avoidance schemes
  1007. Part 1: Amendments of Part 7 of FA 2004
  1008. 1Paragraph 1
  1009. 2Paragraph 2
  1010. 3Paragraph 3
  1011. 4Paragraph 4
  1012. 5Paragraph 5
  1013. 6Paragraph 6
  1014. 7Paragraph 7
  1015. 8Paragraph 8
  1016. 9Paragraph 9
  1017. 10Paragraph 10
  1018. 11Paragraph 11
  1019. 12Paragraph 12
  1020. 13Paragraph 13
  1021. 14Paragraph 14
  1022. 15Paragraph 15
  1023. 16Paragraph 16
  1024. 17Paragraph 17
  1025. 18Paragraph 18
  1026. Part 2: Amendments of Schedule 17 to F(No.2)A 2017
  1027. 19Paragraph 19
  1028. 20Paragraph 20
  1029. 21Paragraph 21
  1030. 22Paragraph 22
  1031. 23Paragraph 23
  1032. 24Paragraph 24
  1033. 25Paragraph 25
  1034. 26Paragraph 26
  1035. 27Paragraph 27
  1036. 28Paragraph 28
  1037. 29Paragraph 29
  1038. 30Paragraph 30
  1039. 31Paragraph 31
  1040. 32Paragraph 32
  1041. 33Paragraph 33
  1042. 34Paragraph 34
  1043. 35Paragraph 35
  1044. 36Paragraph 36
  1045. 37Paragraph 37
  1046. 38Paragraph 38
  1047. 39Paragraph 39
  1048. 40Paragraph 40
  1049. 41Paragraph 41
  1050. Part 3: Other amendments
  1051. 42Paragraph 42
  1052. 43Paragraph 43
  1053. Part 4: Commencement
  1054. 44Paragraph 44
  1055. 45Paragraph 45
  1056. 46Paragraph 46
  1057. Schedule 32: The GAAR and partnerships
  1058. Part 1: New Schedule to FA 2013
  1059. 1Paragraph 1
  1060. Part 2: Minor and consequential amendments to Part 5 of FA 2013
  1061. 2Paragraph 2
  1062. 3Paragraph 3
  1063. 4Paragraph 4
  1064. 5Paragraph 5
  1065. 6Paragraph 6
  1066. 7Paragraph 7
  1067. 8Paragraph 8
  1068. 9Paragraph 9
  1069. 10Paragraph 10
  1070. 11Paragraph 11
  1071. 12Paragraph 12
  1072. 13Paragraph 13
  1073. Schedule 33: Licensing authorities: requirements to give or obtain tax information
  1074. Meaning of “authorisation”, “authorised activity” and “licensing authority” etc
  1075. 1Paragraph 1
  1076. First-time application: licensing authority required to give information about tax compliance
  1077. 2Paragraph 2
  1078. Renewed application: licensing authority required to obtain confirmation of tax check
  1079. 3Paragraph 3
  1080. HMRC required to make arrangements in connection with tax checks
  1081. 4Paragraph 4
  1082. Tax checks
  1083. 5Paragraph 5
  1084. Requirement to confirm completion of tax check ceases to apply if HMRC in default
  1085. 6Paragraph 6
  1086. Disclosure of information
  1087. 7Paragraph 7
  1088. Regulations
  1089. 8Paragraph 8
  1090. Interpretation
  1091. 9Paragraph 9 Not yet in force
  1092. Partnerships
  1093. 10Paragraph 10
  1094. Consequential amendments
  1095. 11Paragraph 11
  1096. Schedule 34: Information powers: miscellaneous amendments
  1097. 1Paragraph 1
  1098. Disclosure of third party or financial institution notice
  1099. 2Paragraph 2
  1100. Increased daily default penalty
  1101. 3Paragraph 3
  1102. 4Paragraph 4
  1103. 5Paragraph 5
  1104. 6Paragraph 6
  1105. 7Paragraph 7
  1106. Power to give taxpayer notice following land transaction return
  1107. 8Paragraph 8
  1108. Commencement
  1109. 9Paragraph 9