{
  "url": "https://openlegislation.uk/finance-no-2-act-2005/schedule-11/part-2",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2005/schedule-11/part-2.json",
  "legislation": "ukpga/2005/22",
  "legislation_title": "Finance (No. 2) Act 2005",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2005",
  "path": "schedule/11/part/2",
  "kind": "part",
  "number": "2",
  "heading": "Income tax, corporation tax and capital gains tax",
  "text": "(1) Employee securities: anti-avoidance\nThese repeals have effect in accordance with Schedule 2 to this Act.\nShort title and chapter\nExtent of repeal\nIncome Tax (Earnings and Pensions) Act 2003 (c. 1)\nSection 420(5)(d).\nIn section 424(1), paragraph (c) and the word “or” before it.\nFinance Act 2004 (c. 12)\nSection 86(4).\n(2) Scientific research organisations\n1The repeal of section 88(4)(a) of ITTOIA 2005 has effect in accordance with section 14 of this Act.\n2The repeal of paragraph 55(b) of Schedule 1 to that Act has effect in accordance with section 15 of this Act.\nShort title and chapter\nExtent of repeal\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nSection 88(4)(a).\nIn Schedule 1, paragraph 55(b).\n(3) Unit trusts and open-ended investment companies\n1The repeal of paragraph 350(2) and (3) of Schedule 1 to ITTOIA 2005 comes into force on the day on which this Act is passed.\n2The other repeals have effect in accordance with section 19(1) of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nSection 349B(4)(b).\nSections 468H to 468Q.\nFinance Act 1996 (c. 8)\nParagraphs 2A and 2B of Schedule 10.\nFinance Act 2002 (c. 23)\nParagraphs 32 and 33 of Schedule 26.\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nSection 373(4) and (6).\nSection 376(4) and (6).\nParagraph 151(2) of Schedule 1.\nParagraph 350(2) and (3) of Schedule 1.\n(4) Chargeable gains: temporary non-residents\nThis repeal has effect in accordance with section 32(7) of this Act.\nShort title and chapter\nExtent of repeal\nTaxation of Chargeable Gains Act 1992 (c. 12)\nSection 10A(10).\n(5) Chargeable gains: options\nThese repeals have effect in accordance with paragraph 6(2) of Schedule 5 to this Act.\nShort title and chapter\nExtent of repeal\nFinance Act 1996 (c. 8)\nSection 111(2) and (5).\n(6) Accounting practice\n1The repeal of paragraph 6 of Schedule 4 to FA 2005 has effect in accordance with paragraph 4(6) of Schedule 6 to this Act.\n2The repeal of paragraph 10 of Schedule 4 to FA 2005 has effect in accordance with paragraph 5(2) of Schedule 6 to this Act.\n. . .\nShort title and chapter\nExtent of repeal\n. . .\n. . .\n. . .\n. . .\n. . .\n. . .\nFinance Act 2005 (c. 7)\nIn Schedule 4, paragraphs 6, 10, 28(3) and (4) and 29.\n(7) Charges on income for corporation tax\nThese repeals have effect in accordance with section 38 of this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 125(1), the words “and shall not be a charge on income for the purposes of corporation tax”.\nSection 338A(2)(a) and (4).\nSection 338B.\nIn section 402(6)(b), the words “or a charge on income”.\nSection 434A(2)(a)(i).\nIn section 487(3), the words “or be treated for those purposes as a charge on income”.\nIn section 494—\n(a)in subsection (1), the words “Section 338 of this Act and”;\n(b)subsection (3).\nIn section 494A—\n(a)in subsection (2), paragraph (b) and the word “or” before it;\n(b)in subsection (3), paragraph (b) and the word “and” before it.\nIn Schedule 28AA—\n(a)in paragraph 7A(2)(b), the words “or charges on income”;\n(b)in paragraph 7C(2)(b), the words “or charges on income”.\nFinance Act 1989 (c. 26)\nIn section 102(7)(b), the words “or a charge on income”.\nTaxation of Chargeable Gains Act 1992 (c. 12)\nIn section 171A(5)(b), the words “or a charge on income”.\nIn section 179A(11)(b), the words “or a charge on income”.\nFinance Act 2002 (c. 23)\nIn Schedule 29, in paragraph 71(4)(b), the words “or a charge on income”.\n(8) Avoidance involving financial arrangements\nThese repeals have effect in accordance with Schedule 7 to this Act.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 18, paragraph (c) of the Case III of Schedule D substituted by subsection (3A).\nSection 43C(1).\nSection 43E(1)(a) and (b).\nIn section 730—\n(a)subsection (1)(c);\n(b)subsection (2A);\n(c)in subsection (8), the words from “and for the purpose” onwards.\nFinance Act 1996 (c. 8)\nIn section 97—\n(a)in subsection (2), paragraph (b) and the word “but” before it, and\n(b)subsections (3) and (3A).\nSection 100(4) to (6), (8) and (13).\nIn Schedule 9—\n(a)in paragraph 1A(1), paragraph (b) and the word “or” before it;\n(b)paragraph 11(5);\n(c)in paragraph 15(4A), paragraph (b) and the word “and” before it.\nFinance Act 2000 (c. 17)\nIn Schedule 29, paragraph 44(3).\nFinance Act 2002 (c. 23)\nIn Schedule 25, paragraphs 13(4) and 51.\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nIn section 430(6), the word “and” before the entry relating to section 443(1).\nIn Schedule 1, paragraph 300(5).\n(9) Loan relationships\nThese repeals have effect in accordance with paragraph 4 of Schedule 8 to this Act.\nShort title and chapter\nExtent of repeal\nFinance Act 1996 (c. 8)\nIn Schedule 9—\n(a)in paragraph 2(1B), the words “, but not a CIS-based close company,”, the word “or” preceding paragraph (c) and the words after paragraph (c);\n(b)in paragraph 18(1), paragraph (aa), and paragraph (c) and the word “and” preceding it;\n(c)in paragraph 18(4), the word “and” preceding the definition of “participator”.\nFinance Act 2002 (c. 23)\nIn Schedule 25, paragraph 34(4).\nFinance Act 2004 (c. 12)\nIn Schedule 8, paragraphs 2(2) and 6(2) and (3).\n(10) Insurance companies etc\n1The repeals in ICTA have effect in relation to periods of account ending on or after 31st December 2004.\n2The repeals in section 82C of FA 1989 have effect in accordance with paragraph 11(4) of Schedule 9 to this Act.\n3The repeal in section 83A of FA 1989 has effect in accordance with paragraph 13(6) of Schedule 9 to this Act.\n4The repeal in section 88 of FA 1989 has effect in accordance with paragraph 16(3) of Schedule 9 to this Act.\n5The repeals in paragraph 1(2)(b) of Schedule 6 to FA 1990 have effect in accordance with paragraph 2(6) of Schedule 9 to this Act.\n6The repeal of paragraph 2 of Schedule 6 to FA 1990 comes into force on the day on which this Act is passed.\nShort title and chapter\nExtent of repeal\nIncome and Corporation Taxes Act 1988 (c. 1)\nIn section 76(8), in the second sentence, the word “or” at the end of paragraph (a).\nIn section 431(2), the definition of “long-term liabilities”.\nFinance Act 1989 (c. 26)\nSection 82C(4), (5), (8) and (9).\nIn section 83A(2), the words from “Paragraph (b) above” to the end of the subsection.\nIn section 88(3A), the word “and” at the end of paragraph (a).\nFinance Act 1990 (c. 29)\nIn Schedule 6—\n(a)in paragraph 1(2)(b), the definitions of ”liabilities“ and “value”;\n(b)paragraph 2.\n(11) Lloyd's names\nThese repeals have effect in accordance with section 45(8) and (9) of this Act.\nShort title and chapter\nExtent of repeal\nFinance Act 1993 (c. 34)\nSection 173.\nIn section 182(1)(a), “(so far as not provided for by Schedule 19 to this Act)”.\nSchedule 19.\nFinance Act 1994 (c. 9)\nSection 221.\nIn section 229(1)(a), “(so far as not provided for by Schedule 19 to the 1993 Act as applied by section 221 above)”.\nIn Schedule 21, paragraphs 9 and 10.\nFinance Act 2001 (c. 9)\nIn Schedule 29, paragraph 36.\n(12) Energy Act 2004 and Health Protection Agency Act 2004\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 349B(3)(g) and (h).\nSection 512.\nTaxation of Chargeable Gains Act 1992 (c. 12)\nIn section 271(7)—\n(a)the words “, the United Kingdom Atomic Energy Authority”;\n(b)the words “and the National Radiological Protection Board”;\n(c)the words from “; and for the purposes” to the end of the subsection.\nIncome Tax (Trading and Other Income) Act 2005 (c. 5)\nIn Schedule 1, paragraph 199.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 11 Pt. 2(6) entries and note repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/22/schedule/11/part/2",
    "retrieved_at": "2026-10-29T09:15:33.617545+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."
}