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The Income and Corporation Taxes Act 1988, Section 349B(3) Order 2002

S.I. 2002/2931 · Made 27 November 2002

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Taxes

Made 27th November 2002

Laid before the House of Commons 27th November 2002

Coming into force 1st December 2002

The Treasury, in exercise of the powers conferred upon them by section 349B(8) of the Income and Corporation Taxes Act 1988 (“the Taxes Act”)f1 hereby make the following Order:

Annotations to the whole text

Footnotes

f1

1988 c. 1; section 349B was inserted by section 85 of the Finance Act 2001 (c. 9) and amended by section 94 of, and Part 3(14) of Schedule 40 to, the Finance Act 2002 (c. 23).

Contents

  1. 1Article 1
  2. 2Article 2
  3. Signature
  4. Explanatory note

1

This Order may be cited as the Income and Corporation Taxes Act 1988, Section 349B(3) Order 2002, and shall come into force on 1st December 2002.

2

In section 349B(3) of the Taxes Act after “made to” insert “, or to the nominee of”.

Signature

Nick Ainger

Jim Fitzpatrick

Two of the Lords Commissioners of Her Majesty’s Treasury

27th November 2002

Explanatory note

(This note is not part of the Order)

This Order amends the provisions of section 349B(3) of the Income and Corporation Taxes Act 1988 (c. 1). Section 349A provides that a company or local authority may make certain payments gross (that is, without deduction of tax) if it reasonably believes one of the conditions in section 349B to be satisfied. The effect of the Order is to widen the condition in section 349B(3), to cover payments to a nominee of certain U.K. tax-exempt bodies.