Income Tax Act 2007
2007 c. 3 · Enacted 20 March 2007 · Extends to United Kingdom
An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.
C1[20th March 2007]
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:—
Annotations to the whole text
Modifications
- C1
Act modified (21.2.2009) by The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order (S.I. 2009/317), art. 3, Sch.
Contents
- Part 1: Overview
- 1Overview of Income Tax Acts
- 2Overview of Act
- Part 2: Basic provisions
- Chapter 1: Charges to income tax
- 3Overview of charges to income tax
- 4Income tax an annual tax
- 5Income tax and companies
- Chapter 2: Rates at which income tax is charged
- The rates
- 6The ... basic rate , higher rate and additional rate
- 6AThe Scottish basic, higher and additional rates Repealed
- 6BThe Welsh rates
- 6CThe default basic, higher and additional rates
- 6DThe property basic, higher and additional rates
- 7The starting rate for savings and savings nil rate
- 7AThe savings basic, higher and additional rates
- 8The dividend nil rate, dividend ordinary rate, dividend upper rate and dividend additional rate
- 9The trust rate , property trust rate, savings trust rate and dividend trust rate
- Income charged at particular rates
- 9AOverview of sections 10 to 15
- 10Income charged at the ... basic , higher and additional rates: individuals
- 11Income charged at the default basic rate: non-individuals
- 11AIncome charged at Scottish rates
- 11BIncome charged at the Welsh basic, higher and additional rates
- 11CIncome charged at the default basic, higher and additional rates: non-UK resident individuals
- 11CAIncome charged at the property basic, higher and additional rates: individuals
- 11CBIncome charged at the Welsh property basic, higher and additional rates: individuals
- 11CCIncome charged at the property basic rate: non-individuals
- 11DIncome charged at the savings basic, higher and additional rates : individuals
- 11DAIncome charged at the savings basic rate: non-individuals
- 12Income charged at the starting rate for savings
- 12ASavings income charged at the savings nil rate
- 12BIndividual's entitlement to a savings allowance
- 13Income charged at the dividend ordinary , dividend upper and dividend additional rates: individuals
- 13AIncome charged at the dividend nil rate
- 14Income charged at the dividend ordinary rate: non-individuals
- 15Income charged at the trust rate , the property trust rate, the savings trust rate and the dividend trust rate
- 16Savings and dividend income to be treated as highest part of total income
- 16ATreatment of property income in hierarchy of total income
- 17Repayment: tax paid at greater rate instead of starting rate for savings or savings nil rate
- 17AMeaning of “property income”
- 18Meaning of “savings income”
- 19Meaning of “dividend income”
- Starting rate limit and basic rate limit
- 20The starting rate limit and the basic rate limit Repealed
- 21Indexation of the basic rate limit and starting rate limit for savings
- Chapter 3: Calculation of income tax liability
- 22Overview of Chapter
- 23The calculation of income tax liability
- 24Reliefs deductible at Step 2
- 24ALimit on Step 2 deductions
- 24BCalculation of net income at Step 2 for low income estates and trusts
- 25Reliefs and allowances deductible at Steps 2 and 3: supplementary
- 26Tax reductions
- 27Order of deducting tax reductions: individuals
- 28Order of deducting tax reductions: other persons
- 29Tax reductions: supplementary
- 30Additional tax
- 31Total income: supplementary
- 32Liability not dealt with in the calculation
- Part 3: Personal reliefs
- Chapter 1: Introduction
- 33Overview of Part
- Chapter 2: Personal allowance and blind person's allowance
- Introduction
- 34Allowances under Chapter
- Personal allowances
- 35Personal allowance
- 36Personal allowance for those born after 5 April 1938 but before 6 April 1948 Repealed
- 37Personal allowance for those born before 6 April 1938
- Blind person's allowance
- 38Blind person's allowance
- 39Transfer of part of blind person's allowance to a spouse or civil partner
- 40Election for transfer of allowance under section 39
- Supplementary
- 41Allowances in year of death
- Chapter 3: Tax reductions for married couples and civil partners: persons born before 6 April 1935
- Introduction
- 42Tax reductions under Chapter
- 43Meaning of “the minimum amount”
- 43AMeaning of “relevant conversion”
- 44Election for new rules to apply
- Married couple's allowance
- 45Marriages before 5 December 2005
- 46Marriages and civil partnerships on or after 5 December 2005
- Elections to transfer relief
- 47Election by individual to transfer relief under section 45 or 46
- 48Joint election to transfer relief under section 45 or 46
- 49Election for partial transfer back of relief
- 50Procedure for making and withdrawing elections under sections 47 to 49
- Transfer of unused relief
- 51Transfer of unused relief
- 52Transfer back of unused relief
- 53Transfer of unused relief: general
- Supplementary
- 54Tax reductions in the year of marriage or entry into civil partnership
- 55Sections 45 to 53: supplementary
- Chapter 3A: Transferable tax allowance for married couples and civil partners
- Introduction
- 55ATax reduction under Chapter
- Tax reduction
- 55BTax reduction: entitlement
- Election to reduce personal allowance
- 55CElection to reduce personal allowance
- 55DProcedure for elections under section 55C
- Supplementary
- 55ELimitation on number of tax reductions and elections
- Chapter 4: General
- 56Residence etc of claimants
- 57Indexation of allowances
- 57APersonal allowance linked to national minimum wage Repealed
- 58Meaning of “adjusted net income”
- Part 4: Loss relief
- Chapter 1: Introduction
- 59Overview of Part
- Chapter 2: Trade losses
- Introduction
- 60Overview of Chapter
- 61Non-partners: losses of a tax year Repealed
- 62Partners: losses of a tax year etc Repealed
- 63Prohibition against double counting
- Trade loss relief against general income
- 64Deduction of losses from general income
- 65How relief works
- Restriction on relief for uncommercial trades
- 66Restriction on relief unless trade is commercial
- Restriction on relief for “hobby” farming or market gardening
- 67Restriction on relief in case of farming or market gardening
- 68Reasonable expectation of profit
- 69Whether trade is the same trade
- 70Determining losses in previous tax years
- Use of trading loss as CGT loss
- 71Treating trade losses as CGT losses
- Early trade losses relief
- 72Relief for individuals for losses in first 4 years of trade
- 73How relief works
- 74Restrictions on relief unless trade is commercial etc
- General restrictions on sideways relief and capital gains relief
- 74ZANo relief for tax-generated losses
- 74AReliefs in any tax year not to exceed cap for tax year
- 74BNo relief for tax-generated losses Repealed
- 74CMeaning of “non-active capacity” for purposes of section 74A etc
- 74DMeaning of “qualifying film expenditure” for purposes of sections 74ZA and 74A
- ...
- 74ENo relief where cash basis used to calculate losses Repealed
- Restrictions on sideways relief for certain capital allowances
- 75Trade leasing allowances given to individuals
- 76First-year allowances and annual investment allowances: introduction
- 77First-year allowances: partnerships with companies
- 78First-year allowances and annual investment allowances: arrangements to reduce tax liabilities
- 79Capital allowances restrictions: supplementary
- Restriction on sideways relief for specific trades
- 80Ring fence income
- 81Dealings in commodity futures Repealed
- 82Exploitation of films
- Carry-forward trade loss relief
- 83Carry forward against subsequent trade profits
- 84How relief works
- 85Use of trade-related interest and dividends if trade profits insufficient
- 86Trade transferred to a company
- 87Ring fence trades
- 88Carry forward of certain interest as loss
- Terminal trade loss relief
- 89Carry back of losses on a permanent cessation of a trade
- 90Losses that are “terminal losses”
- 91How relief works
- 92Use of trade-related interest and dividends if trade profits insufficient
- 93Mineral extraction trade and carry back of balancing allowances
- 94Carry back of certain interest as loss
- Wholly foreign trades
- 95Foreign trades etc: reliefs only against foreign income
- Post-cessation trade relief
- 96Post-cessation trade relief
- 97Meaning of “qualifying payment”
- 98Meaning of “qualifying event” etc
- 98ADenial of relief for tax-generated payments or events
- 99Reduction of relief for unpaid trade expenses
- 100Prohibition against double counting
- 101Treating excess post-cessation trade relief as CGT loss
- Chapter 3: Restrictions on trade loss relief for certain partners
- Introduction
- 102Overview of Chapter
- 103Meaning of “sideways relief”, “capital gains relief” and “firm”
- 103AMeaning of “limited partner”
- 103BMeaning of “non-active partner” etc
- Limit on amount of sideways relief and capital gains relief
- 103CLimit on reliefs in any tax year not to exceed cap for tax year
- 103DMeaning of “qualifying film expenditure”
- Limited partners
- 104Restriction on reliefs for limited partners
- 105Meaning of “contribution to the firm”
- 106Meaning of “limited partner” Repealed
- Members of LLPs
- 107Restriction on reliefs for members of LLPs
- 108Meaning of “contribution to the LLP”
- 109Unrelieved losses brought forward
- Non-active members of LLPs or other partnerships (apart from limited partnerships)
- 110Restriction on reliefs for non-active partners in early tax years
- 111Meaning of “contribution to the firm”
- 112Meaning of “early tax year”
- 113Unrelieved losses brought forward
- Exclusion of amounts in calculating contribution to the firm or LLP
- 113AExclusion of amounts contributed to access relief
- ...
- 114Power to exclude other amounts
- Restrictions for film trades carried on in partnership
- 115Restrictions on reliefs for firms exploiting films
- 116Exclusion from restrictions under section 115: certain film expenditure Repealed
- Partnerships with mixed membership etc
- 116AExcess loss allocation to partners who are individuals
- Chapter 4: Losses from property businesses
- Introduction
- 117Overview of Chapter
- Carry-forward property loss relief
- 118Carry forward against subsequent property business profits
- 119How relief works
- Property loss relief against general income
- 120Deduction of property losses from general income
- 121How relief works
- 122Meaning of “the applicable amount of the loss”
- 123Meaning of “the loss has a capital allowances connection” and “the business has a relevant agricultural connection”
- 124Supplementary
- Post-cessation property relief
- 125Post-cessation property relief
- 126Treating excess post-cessation property relief as CGT loss
- ...
- 127UK furnished holiday lettings business treated as trade Repealed
- 127ZAEEA furnished holiday lettings business treated as trade Repealed
- Restrictions on relief
- 127ANo relief for tax-generated losses attributable to annual investment allowance
- 127BNo relief for tax-generated agricultural expenses
- 127BARestriction of relief: cash basis
- 127CExcess loss allocation to partners who are individuals
- Chapter 5: Losses in an employment or office
- 128Employment loss relief against general income
- 129How relief works
- 130Treating loss in employment or office as CGT loss
- Chapter 6: Losses on disposal of shares
- Share loss relief against general income
- 131Share loss relief
- 132Entitlement to claim
- 133How relief works
- Shares to which EIS relief is not attributable
- 134Qualifying trading companies
- 135Subscriptions for shares
- 136Disposals of new shares
- Qualifying trading companies: the requirements
- 137The trading requirement
- 138Ceasing to meet trading requirement because of administration or receivership
- 139The control and independence requirement
- 140The qualifying subsidiaries requirement
- 141The property managing subsidiaries requirement
- 142The gross assets requirement
- 143The unquoted status requirement
- 144Power to amend requirements by Treasury order
- Qualifying trading companies: supplementary
- 145Relief after an exchange of shares for shares in another company
- 146Substitution of new shares for old shares
- Limits on share loss relief and mixed holdings
- 147Limits on share loss relief
- 148Disposal of shares forming part of mixed holding
- 149Section 148: supplementary
- Miscellaneous and supplementary
- 150Deemed time of issue for certain shares
- 151Interpretation of Chapter
- Chapter 7: Losses from miscellaneous transactions
- Loss relief against miscellaneous income
- 152Losses from miscellaneous transactions
- 153How relief works
- Deposit rights
- 154Transactions in deposit rights
- Supplementary
- 154AAnti-avoidance
- 155Time limit for claiming relief
- Part 5: Enterprise investment scheme
- Chapter 1: Introduction
- EIS relief
- 156Meaning of “EIS relief” and commencement
- 157Eligibility for EIS relief
- 157ARisk-to-capital condition
- 158Form and amount of EIS relief
- Miscellaneous
- 159Periods A, B and C
- 160Overview of other Chapters of Part
- 161Other tax reliefs relating to EIS
- Chapter 2: The investor
- Introduction
- 162Overview of Chapter
- The requirements
- 163The no connection with the issuing company requirement
- 164The no linked loans requirement
- 164AThe existing shareholdings requirement
- 165The no tax avoidance requirement
- Meaning of connection with issuing company
- 166Connection with issuing company
- 167Employees, directors and partners
- 168Directors excluded from connection
- 169Directors qualifying for relief despite connection
- 170Persons interested in capital etc of company
- 171Persons subscribing for shares under certain arrangements
- Chapter 3: General requirements
- Introduction
- 172Overview of Chapter
- The requirements
- 173The shares requirement
- 173AThe maximum amount raised annually through risk finance investments requirement
- 173AAMaximum risk finance investments at the issue date requirement
- 173ABMaximum risk finance investments during period B requirement
- 173BThe spending of money raised by SEIS investment requirement Repealed
- 174The purpose of the issue requirement
- 175The use of the money raised requirement
- 175AThe permitted maximum age requirement
- 176The minimum period requirement
- 177The no pre-arranged exits requirement
- 178The no tax avoidance requirement
- 178AThe no disqualifying arrangements requirement
- Meaning of “qualifying business activity”
- 179Meaning of “qualifying business activity”
- Chapter 4: The issuing company
- Introduction
- 180Overview of Chapter
- The requirements
- 180AThe UK permanent establishment requirement
- 180BThe financial health requirement
- 181The trading requirement
- 182Ceasing to meet trading requirement because of administration or receivership
- 183The issuing company to carry on the qualifying business activity requirement
- 184The unquoted status requirement
- 185The control and independence requirement
- 186The gross assets requirement
- 186AThe number of employees requirement
- 187The qualifying subsidiaries requirement
- 188The property managing subsidiaries requirement
- Definitions
- 189Meaning of “qualifying trade”
- 190Meaning of “qualifying 90% subsidiary”
- 191Meaning of “qualifying subsidiary”
- 191AMeaning of “permanent establishment”
- Excluded activities
- 192Meaning of “excluded activities”
- 193Excluded activities: wholesale and retail distribution
- 194Excluded activities: leasing of ships
- 195Excluded activities: receipt of royalties and licence fees
- 196Excluded activities: property development
- 196AExcluded activities: shipbuilding
- 196BExcluded activities: producing coal
- 196CExcluded activities: producing steel
- 197Excluded activities: hotels and comparable establishments
- 198Excluded activities: nursing homes and residential care homes
- 198AExcluded activities: ... export of electricity
- 198BExcluded activities: subsidised generation of heat and subsidised production of gas or fuel Repealed
- 199Excluded activities: provision of services or facilities for another business
- Supplementary
- 200Power to amend by Treasury order Repealed
- Chapter 5: Attribution of and claims for EIS relief
- Attribution
- 201Attribution of EIS relief to shares
- Claims: general
- 202Time for making claims for EIS relief
- 203Entitlement to claim
- Claims: supporting documents
- 204Compliance certificates
- 205Compliance statements
- 206Appeal against refusal to authorise compliance certificate
- 207Penalties for fraudulent certificate or statement etc
- Chapter 6: Withdrawal or reduction of EIS relief
- Introduction
- 208Overview of Chapter
- Disposals
- 209Disposal of shares
- 210Cases where maximum EIS relief not obtained
- 211Call options
- 212Put options
- Value received by investor
- 213Value received by the investor
- 214Value received: receipts of insignificant value
- 215Meaning of “receipts of insignificant value”
- 216When value is received
- 217The amount of value received
- 218Value received where there is more than one issue of shares
- 219Value received where part of share issue treated as made in previous tax year
- 220Cases where maximum EIS relief not obtained
- 221Receipts of value by and from connected persons etc
- 222Receipt of replacement value
- 223Section 222: supplementary
- Repayments etc of share capital to other persons
- 224Repayments etc of share capital to other persons
- 225Insignificant repayments ignored for purposes of section 224
- 226Amount of repayments etc where there is more than one issue of shares
- 227Single issue affecting more than one individual
- 228Single issue treated as made partly in previous tax year
- 229Maximum relief not obtained for share issue
- 230Repayment of authorised minimum within 12 months
- 231Restriction on withdrawal of relief under section 224
- Miscellaneous
- 232Acquisition of a trade or trading assets
- 233Acquisition of share capital
- 234Relief subsequently found not to have been due
- Chapter 7: Withdrawal or reduction of EIS relief: procedure
- Assessments and appeals
- 235Assessments for the withdrawal or reduction of EIS relief
- 236Appeals against section 234(3)(b) notices
- 237Time limits for assessments
- 238Cases where assessment not to be made
- Interest
- 239Date from which interest is chargeable
- Information
- 240Information to be provided by the investor
- 241Information to be provided by the issuing company etc
- 242Power to require information where section 240 or 241 applies or could have applied
- 243Power to require information in other cases
- 244Obligations of secrecy
- Chapter 8: Supplementary and general
- Disposals of shares
- 245Transfers between spouses or civil partners
- 246Identification of shares on a disposal
- Acquisition of issuing company
- 247Continuity of EIS relief where issuing company is acquired by new company
- 248Carry over of obligations etc where EIS relief attributed to new shares
- 249Substitution of new shares for old shares
- Nominees etc
- 250Nominees and bare trustees
- 251Approved knowledge-intensive fund as nominee
- Powers to amend
- 251APowers to amend Chapters 2 to 4 by Treasury regulations
- Interpretation
- 252Meaning of a company being “in administration” or “in receivership”
- 252AMeaning of “knowledge-intensive company”
- 252BKnowledge-intensive company reaching turnover of £200,000
- 253Meaning of “associate”
- 254Meaning of “disposal of shares”
- 255Meaning of “issue of shares”
- 256Meaning of “the termination date”
- 256AMeaning of “the EIS original rate”
- 256BMeaning of “specified Northern Ireland company”
- 257Minor definitions etc
- Part 5A: Seed enterprise investment scheme
- Chapter 1: Introduction
- SEIS relief
- 257AMeaning of “SEIS relief” and commencement
- 257AAEligibility for SEIS relief
- 257AAARisk-to-capital condition
- 257ABForm and amount of SEIS relief
- Miscellaneous
- 257ACMeaning of “period A” and “period B”
- 257ADOverview of other Chapters of Part
- 257AECGT reliefs relating to SEIS
- Chapter 2: The investor
- Introduction
- 257BOverview of Chapter
- The requirements
- 257BAThe no employee investors requirement
- 257BBThe no substantial interest in the issuing company requirement
- 257BCThe no related investment arrangements requirement
- 257BDThe no linked loan requirement
- 257BEThe no tax avoidance requirement
- Meaning of substantial interest in a company
- 257BFPersons with a substantial interest in a company
- Chapter 3: General requirements
- Introduction
- 257COverview of Chapter
- The requirements
- 257CAThe shares requirement
- 257CBThe purpose of the issue requirement
- 257CCThe spending of the money raised requirement
- 257CDThe no pre-arranged exits requirement
- 257CEThe no tax avoidance requirement
- 257CFThe no disqualifying arrangements requirement
- Chapter 4: The issuing company
- Introduction
- 257DOverview of Chapter
- The requirements
- 257DAThe trading requirement
- 257DBCeasing to meet trading requirement: administration etc
- 257DCThe issuing company to carry on the qualifying business activity
- 257DDThe UK permanent establishment requirement
- 257DEThe financial health requirement
- 257DFThe unquoted status requirement
- 257DGThe control and independence requirement
- 257DHThe no partnerships requirement
- 257DIThe gross assets requirement
- 257DJThe number of employees requirement
- 257DKNo previous other risk capital scheme investments
- 257DLThe amount raised through the SEIS
- 257DMThe qualifying subsidiaries requirement
- 257DNThe property managing subsidiaries requirement
- Chapter 5: Attribution and claims for SEIS relief
- Attribution
- 257EAttribution of SEIS relief to shares
- Claims: general
- 257EATime for making claims for SEIS relief
- 257EBEntitlement to claim
- Claims: supporting documents
- 257ECCompliance certificates
- 257EDCompliance statements
- 257EEAppeal against refusal to authorise compliance certificate
- 257EFPenalties for fraudulent certificate or statement etc
- 257EGPower to amend sections 257EC and 257ED
- Chapter 6: Withdrawal or reduction of SEIS relief
- Introduction
- 257FOverview of Chapter
- 257FADisposal of shares
- 257FBCases where maximum SEIS relief not obtained
- 257FCCall options
- 257FDPut options
- Value received by investor
- 257FEValue received by the investor
- 257FFValue received: receipts of insignificant value
- 257FGMeaning of “a receipt of insignificant value”
- 257FHWhen value is received
- 257FIThe amount of value received
- 257FJValue received where there is more than one issue
- 257FKValue received where part of issue treated as made in previous tax year
- 257FLCases where maximum SEIS relief not obtained
- 257FMReceipts of value by and from connected persons etc
- 257FNReceipt of replacement value
- 257FOSection 257FN: supplementary
- Miscellaneous
- 257FPAcquisition of trade or trading assets
- 257FQAcquisition of share capital
- 257FRRelief subsequently found not to have been due
- Chapter 7: Withdrawal or reduction of SEIS relief: procedure
- Assessments and appeals
- 257GAssessments for the withdrawal or reduction of SEIS relief
- 257GAAppeals against section 257FR(3)(b) notices
- 257GBTime limits for assessments
- 257GCCases where assessments not to be made
- Interest
- 257GDDate from which interest is chargeable
- Information
- 257GEInformation to be provided by the investor
- 257GFInformation to be provided by the issuing company etc
- 257GGPower to require information where section 257GE or 257GF applies or could have applied
- 257GHPower to require information in other cases
- 257GIObligations of secrecy
- Chapter 8: Supplementary and general
- Disposals of shares
- 257HTransfers between spouses or civil partners
- 257HAIdentification of shares on a disposal
- Acquisition of issuing company
- 257HBContinuity of SEIS relief where issuing company is acquired by new company
- 257HCCarry over of obligations etc where SEIS relief attributed to new shares
- 257HDSubstitution of new shares for old shares
- Nominees etc
- 257HENominees and bare trustees
- Interpretation
- 257HFMeaning of “new qualifying trade”
- 257HGMeaning of “qualifying business activity”
- 257HHMeaning of “disposal of shares”
- 257HIMeaning of “issue of shares”
- 257HJMinor definitions
- Part 5B: Tax relief for social investments
- Chapter 1: Introduction
- 257JMeaning of “SI relief” and “social enterprise”
- 257JAForm and amount of relief
- 257JBMeaning of “community benefit society”
- 257JCCharities that are trusts
- 257JDAccreditation as a social impact contractor
- 257JEMeaning of “social impact contract”
- 257JFAccreditations: supplementary provisions
- 257JGPeriod of accreditation as a social impact contractor
- 257JHFunctions of Ministers of the Crown under sections 257JD to 257JG
- Chapter 2: Eligibility for relief: basic rule and key definitions
- Eligibility
- 257KEligibility for SI relief
- Key definitions
- 257KAKey to reading the rest of the Part
- 257KBWhen investment is made, and “investment date”
- 257KC“Shorter applicable period” and “longer applicable period”
- Chapter 3: Eligibility: conditions relating to the investor and the investment
- 257LInvestment to be in new shares or new qualifying debt investments
- 257LACondition that the amount invested must have been paid over
- 257LBThe no pre-arranged exits requirements
- 257LCThe no risk avoidance requirement
- 257LDThe no linked loans requirement
- 257LDAThe existing investments requirement
- 257LEThe no tax avoidance requirement
- 257LEAThe no disqualifying arrangements requirement
- 257LFRestrictions on being an employee, partner or paid director
- 257LGThe requirement not to be interested in capital etc of social enterprise
- 257LHRequirement for no collusion with a non-qualifying investor
- Chapter 4: Eligibility: conditions relating to the social enterprise
- Conditions relating to the social enterprise: general
- 257MThe continuing to be a social enterprise requirement
- 257MAThe amount raised from investments potentially eligible for relief Repealed
- 257MBPower to amend limits on amounts raised Repealed
- 257MCThe gross assets requirement
- 257MDThe unquoted status requirement
- 257METhe control and independence requirements
- 257MFThe qualifying subsidiaries requirement
- 257MGThe property-managing subsidiaries requirement
- 257MHThe number of employees requirement
- 257MIThe no partnership requirement
- 257MIAThe financial health requirement
- 257MJThe trading requirement
- 257MKCeasing to meet trading requirement: administration or receivership
- 257MLThe issue must be to raise money for chosen trade or preparing for it
- 257MMRequirement to use money raised and to trade for minimum period
- 257MNThe social enterprise must carry on the chosen trade
- Limits on amounts that may be invested
- 257MNAMaximum amount where investment made in first 7 years
- 257MNBSection 257MNA: supplementary
- 257MNCMaximum amount for cases outside section 257MNA
- 257MNDLimit on investment in shorter applicable period
- 257MNEPower to amend limits on amounts that may be invested
- Interpretation of conditions relating to the social enterprise
- 257MPMeaning of “qualifying trade”
- 257MQMeaning of “excluded activity”
- 257MQAExcluded activities: nursing homes and residential care homes
- 257MRExcluded activities: property development
- 257MSExcluded activity: subsidised generation or export of electricity Repealed
- 257MTExcluded activity: providing services or facilities for another business
- 257MUMeaning of “qualifying subsidiary”
- 257MVMeaning of “90% social subsidiary” of a social enterprise
- 257MWExcluded activities: power to amend
- Chapter 5: Attribution of relief
- 257NAttribution of SI relief to investments
- Chapter 6: Claims for relief
- 257PTime for making claims for SI relief
- 257PAEntitlement to claim
- 257PBCompliance statements
- 257PCCompliance certificates
- 257PDPenalties for fraudulent certificate or statement etc
- 257PEPower to amend Chapter
- Chapter 7: Withdrawal or reduction of SI relief
- Value received by the investor
- 257QEffect of the investor receiving value from the social enterprise
- 257QAValue received: insignificant receipts
- 257QBValue received where there is more than one issue of investments
- 257QCValue received where part of investment treated as made in previous tax year
- 257QDCases where maximum SI relief not obtained
- 257QEWhen value is received
- 257QFThe amount of value received
- 257QGReceipts of value by and from connected persons etc
- 257QHReceipt of replacement value
- 257QISection 257QH: supplementary
- Repayments etc of investments to other persons
- 257QJRepayments etc of share capital to other persons
- 257QKInsignificant payments ignored for the purposes of section 257QJ
- 257QLAmount of repayments etc if there is more than one issue of shares
- 257QMSingle issue affecting more than one individual
- 257QNSingle issue treated as made partly in previous tax year
- 257QOMaximum relief not obtained for share issue
- 257QPRepayment of authorised minimum within 12 months
- Miscellaneous
- 257QQAcquisition of a trade or trading assets
- 257QRAcquisition of share capital
- 257QSRelief subsequently found not to have been due
- Disposals
- 257RDisposal of whole or part of the investment
- 257RACases where maximum relief not obtained
- 257RBCall options
- 257RCPut options
- Chapter 8: Withdrawal or reduction of SI relief: procedure
- Assessments and appeals
- 257SAssessments for the withdrawal or reduction of SI relief
- 257SAAppeals against section 257QS(3)(b) notices
- 257SBTime limits for assessments
- 257SCCases where assessment not to be made
- Interest
- 257SDDate from which interest is chargeable
- Information
- 257SEInformation to be provided by the investor
- 257SFInformation to be provided by the social enterprise etc
- 257SGPower to require information in section 257SE or 257SF cases
- 257SHPower to require information in other cases
- 257SIConfidentiality
- Chapter 9: Miscellaneous and supplementary provisions
- 257TTransfers between spouses or civil partners
- 257TAIdentification of investments on a disposal
- 257TBMeaning of a company being “in administration” or “in receivership”
- 257TCMeaning of “associate”
- 257TDMeaning of “control”
- 257TEMinor definitions etc
- Part 6: Venture capital trusts
- Chapter 1: Introduction
- 258Overview of Part
- 259Venture capital trusts and VCT approvals
- 260Other tax reliefs relating to VCTs
- Chapter 2: VCT relief
- Entitlement to relief
- 261Eligibility for relief
- 262Entitlement to claim relief
- 263Form and amount of relief
- 264No entitlement to relief if there is a linked loan
- 264ARestricting relief where there is a linked sale
- 265No entitlement to relief which would have been lost if it had already been obtained
- Loss of relief
- 266Loss of relief if shares disposed of within 5 years
- 267Transfers of shares between spouses or civil partners
- 268Loss of relief if VCT approval withdrawn
- 269Loss of relief which is subsequently found not to have been due
- 270Assessment on withdrawal or reduction of relief
- Supplementary
- 271Provision of information
- 272Regulations as to procedure etc
- 273Interpretation of Chapter
- Chapter 3: VCT approvals
- Giving of approval
- 274Requirements for the giving of approval
- 275Alternative requirements for the giving of approval
- 276Conditions relating to income
- 277The 15% holding limit condition
- 278Conditions relating to value of investments: general
- 279Conditions relating to value of investments: qualifying holdings
- 280Conditions relating to qualifying holdings and eligible shares
- 280AThe 80% qualifying holdings condition: disposal of holding
- 280BThe investment limits condition
- 280BAThe minimum investment on further issue condition
- 280CThe permitted maximum age condition
- 280DThe no business acquisition condition
- Withdrawal of approval
- 281Withdrawal of VCT approval of a company
- 282Withdrawal of VCT approval in cases for which provision made under section 280(3)
- Supplementary
- 283Time as from which VCT approval has effect
- 284Power to make regulations as to procedure
- 285Interpretation of Chapter
- Chapter 4: Qualifying holdings
- Introduction
- 286Qualifying holdings: introduction
- The requirements
- 286ZAThe risk-to-capital requirement
- 286AThe UK permanent establishment requirement
- 286BThe financial health requirement
- 287The maximum qualifying investment requirement
- 288The no guaranteed loan requirement
- 289The proportion of eligible shares requirement
- 290The trading requirement
- 291The carrying on of a qualifying activity requirement
- 292Ceasing to meet requirements because of administration or receivership
- 292AThe maximum amount raised annually through risk finance investments requirement
- 292AAMaximum risk finance investments when relevant holding is issued requirement
- 292ABMaximum risk finance investments during the 5-year post-investment period requirement
- 292BThe spending of money raised by SEIS investment requirement Repealed
- 293The use of the money raised requirement
- 294The relevant company to carry on the relevant qualifying activity requirement
- 294AThe permitted company age requirement
- 295The unquoted status requirement
- 296The control and independence requirement
- 297The gross assets requirement
- 297AThe number of employees requirement
- 297BThe proportion of skilled employees requirement
- 298The qualifying subsidiaries requirement
- 299The property managing subsidiaries requirement
- 299AThe no disqualifying arrangements requirement
- Definitions
- 300Meaning of “qualifying trade”
- 301Meaning of “qualifying 90% subsidiary”
- 302Meaning of “qualifying subsidiary”
- 302AMeaning of “permanent establishment”
- Excluded activities
- 303Meaning of “excluded activities”
- 304Excluded activities: wholesale and retail distribution
- 305Excluded activities: leasing of ships
- 306Excluded activities: receipt of royalties and licence fees
- 307Excluded activities: property development
- 307AExcluded activities: shipbuilding
- 307BExcluded activities: producing coal
- 307CExcluded activities: producing steel
- 308Excluded activities: hotels and comparable establishments
- 309Excluded activities: nursing homes and residential care homes
- 309AExcluded activities: ... export of electricity
- 309BExcluded activities: subsidised generation of heat and subsidised production of gas or fuel Repealed
- 310Excluded activities: provision of services or facilities for another business
- Supplementary
- 311Power to amend Chapter Repealed
- 312Winding up of the relevant company
- 312APower to require information relating to disqualifying arrangements
- 313Interpretation of Chapter
- Chapter 5: Powers: winding up and mergers of VCTs
- Winding up
- 314Power to treat VCT-in-liquidation as VCT
- 315Power to treat conditions for VCT approval as met with respect to VCT-in-liquidation
- 316Power to make provision about distributions by VCT-in-liquidation
- 317Power to facilitate disposal to VCT by VCT-in-liquidation
- 318Power in respect of periods before and after winding up
- 319Sections 314 to 318: supplementary
- 320Meaning of “VCT-in-liquidation”
- Mergers
- 321Power to facilitate mergers of VCTs
- 322Provision that may be made by regulations under section 321
- 323Meaning of “merger” and “successor company”
- Supplementary
- 324Regulations under Chapter
- 325Interpretation of Chapter
- Chapter 6: Supplementary and general
- Acquisitions for restructuring purposes
- 326Restructuring to which sections 326A, 327 and 327A apply
- 326ACertain requirements of Chapter 3 to be treated as met
- 327Certain requirements of Chapter 4 to be treated as met
- 327AFollow-on funding
- 328Supplementary
- Conversion of shares etc and company reorganisations
- 329Conversion of convertible shares and securities
- 330Power to facilitate company reorganisations etc involving exchange of shares
- Nominees
- 330ANominees
- Power to amend Part
- 330BPowers to amend Chapters 3 and 4 by Treasury regulations
- Supplementary
- 331Meaning of a company being “in administration” or “in receivership”
- 331AMeaning of “knowledge-intensive company”
- 331BKnowledge-intensive company reaching turnover of £200,000
- 331CMeaning of “specified Northern Ireland company”
- 332Minor definitions etc
- Part 7: Community investment tax relief
- Chapter 1: Introduction
- CITR
- 333Meaning of “CITR”
- 334Eligibility for CITR
- 335Form and amount of CITR
- 335ACarry forward of CITR
- Miscellaneous
- 336Meaning of “making an investment”
- 337Determination of “the invested amount”
- 338Meaning of “the 5 year period” and “the investment date”
- 339Overview of other Chapters of Part
- Chapter 2: Accredited community development finance institutions
- 340Application and criteria for accreditation
- 341Terms and conditions of accreditation
- 342Period of accreditation
- 343Delegation of Secretary of State's functions
- Chapter 3: Qualifying investments
- 344Qualifying investments: introduction
- 345Conditions to be met in relation to loans
- 346Conditions to be met in relation to securities
- 347Conditions to be met in relation to shares
- 348Tax relief certificates
- 349No pre-arranged protection against risks
- Chapter 4: General conditions
- 350No control of CDFI by investor
- 351Investor must have beneficial ownership
- 352No acquisition of share in partnership
- 353No tax avoidance purpose
- Chapter 5: Claims for and attribution of CITR
- Claims
- 354Loans: no claim after disposal or excessive repayments or receipts of value
- 355Securities or shares: no claim after disposal or excessive receipts of value
- 356No claim after loss of accreditation by the CDFI
- Attribution
- 357Attribution: general
- 358Attribution: bonus shares
- Chapter 6: Withdrawal or reduction of CITR
- Introduction
- 359Overview of Chapter
- Disposals
- 360Disposal of loan during 5 year period
- 361Disposal of securities or shares during 5 year period
- Repayment of loans
- 362Repayment of loan capital during 5 year period
- Receipts of value
- 363Value received by investor during 6 year period: loans
- 364Value received by investor during 6 year period: securities or shares
- 365Receipts of insignificant value to be added together
- 366When value is received
- 367The amount of value received
- 368Value received if there is more than one investment
- 369Effect of receipt of value on future claims for CITR
- 370Receipts of value by or from connected persons
- CITR not due
- 371CITR subsequently found not to have been due
- Manner of withdrawal or reduction
- 372Manner of withdrawal or reduction of CITR
- Chapter 7: Supplementary and general
- Alternative finance arrangements
- 372AMeaning of “loan” and “interest”
- 372BPurchase and resale arrangements
- 372CDeposit arrangements
- 372DProfit share agency arrangements
- Miscellaneous
- 373Information to be provided by the investor
- 374Disclosure
- 375Nominees
- 376Application for postponement of tax pending appeal
- 377Identification of securities or shares on a disposal
- Definitions
- 378Meaning of “issue of securities or shares”
- 379Meaning of “disposal”
- 380Construction of references to being “held continuously”
- 381Meaning of “associate”
- 382Minor definitions etc
- Part 8: Other reliefs
- Chapter 1: Interest payments
- The relief: introduction
- 383Relief for interest payments
- 384General restrictions on relief under Chapter
- 384ARestriction on relief where arrangements minimise risk to borrower
- 384BRestriction on relief where cash basis applies
- 385General provisions about loans
- 386Loans partly meeting requirements
- 387Exclusion of double relief etc
- Loans for plant or machinery
- 388Loan to buy plant or machinery for partnership use
- 389Eligibility requirements for interest on loans within section 388
- 390Loan to buy plant or machinery for employment use
- 391Eligibility requirements for interest on loans within section 390
- Loans for interests in close companies etc
- 392Loan to buy interest in close company etc
- 393Eligibility requirements for interest on loans within section 392
- 393AClose investment-holding companies
- 394Meaning of “material interest” in section 393
- 395Meaning of “associate” in section 394
- Loans for interests in employee-controlled companies
- 396Loan to buy interest in employee-controlled company
- 397Eligibility requirements for interest on loans within section 396
- Loans for investing in partnerships
- 398Loan to invest in partnership
- 399Eligibility requirements for interest on loans within section 398
- 399AProperty partnerships: restriction of relief for investment loan interest
- 399BProperty partnerships: tax reduction for non-deductible loan interest
- 400Film partnerships
- Loans for investing in co-operatives
- 401Loan to invest in co-operative
- 402Eligibility requirements for interest on loans within section 401
- Loans for paying inheritance tax
- 403Loan to pay inheritance tax
- 404Eligibility requirements for interest on loans within section 403
- 405Carry back and forward of relief for interest on loans within section 403
- General and supplementary
- 406Effect of recovery of capital in the case of some loans
- 407Events counting as recovery of capital for section 406
- 408Replacement loans
- 409Business successions between partnerships
- 410Other business successions and reorganisations
- 411Ineligibility of interest where business is occupation of commercial woodlands
- 412Information
- Chapter 1A: Irrecoverable peer-to-peer loans
- The relief
- 412ARelief for irrecoverable peer-to-peer loans
- 412BClaims for additional relief: sideways relief
- 412CClaims for additional relief: carry-forward relief
- 412DHow carry-forward relief works
- Supplementary provisions
- 412ESubsequent recovery of peer-to-peer loans
- 412FAssigned loans treated as made by the assignee etc
- 412GNominees etc
- 412HInteraction with other reliefs
- Interpretation
- 412IMeaning of “loan”, “peer-to-peer loan” and related terms
- 412JMeaning of “operator” and related terms
- Chapter 2: Gift aid
- The relief
- 413Overview of Chapter
- 414Relief for gifts to charity
- 414ATax reduction or charge if basic rate, and devolved basic rate, differ
- 415Meaning of “grossed up amount”
- 416Meaning of “qualifying donation”
- 417Meaning of “benefits associated with a gift”
- Restrictions on associated benefits
- 418Restrictions on associated benefits
- 419Gifts and benefits linked to periods of less than 12 months
- Admission rights
- 420Disregard of certain admission rights
- 421Admission rights: supplementary
- Disqualified overseas gifts
- 422Disqualified overseas gifts Repealed
- Measures to ensure donor's liability not less than tax treated as deducted
- 423Restriction of certain reliefs
- 424Charge to tax
- 425Total amount of income tax to which individual charged for a tax year
- Election to carry back relief
- 426Election by donor: gift treated as made in previous tax year
- Supplementary
- 427Meaning of “charged amount”
- 428Meaning of “gift aid declaration”
- 429Giving through self-assessment return Repealed
- 430“Charity” to include exempt bodies
- Chapter 3: Gifts of shares, securities and real property to charities etc
- Entitlement to relief
- 431Relief for gifts of shares, securities and real property to charities etc
- 432Meaning of “qualifying investment”
- 433Meaning of “qualifying interest in land”
- Amount of relief
- 434The relievable amount
- 435Incidental costs of making disposal
- 436Consideration
- Value of net benefit to charity
- 437Value of net benefit to charity
- 438Market value of qualifying investments
- 438AAcquisition value of qualifying investments
- 439Meaning of “disposal-related obligation”
- 440Meaning and amount of “disposal-related liability”
- Special provisions about qualifying interests in land
- 441Certificate required from charity
- 442Qualifying interests in land held jointly
- 443Calculation of relievable amount where joint disposal of interest in land
- 444Disqualifying events
- Supplementary
- 445Prohibition against double relief
- 446“Charity” to include exempt bodies
- Chapter 4: Annual payments ...
- 447Overview of Chapter
- 448Relief for individuals
- 449Relief for other persons
- 450Other persons: payments ineligible for relief
- 451Special rule for persons affected by section 733 of ICTA Repealed
- 452The gross amount of a payment
- Chapter 5: Qualifying maintenance payments
- 453Tax reduction for qualifying maintenance payments
- 454Meaning of “qualifying maintenance payment”
- 455Child support maintenance payments
- 456Payments under orders for recovery of benefit etc
- Chapter 6: Miscellaneous other reliefs
- Payments for life insurance etc
- 457Payments to trade unions
- 458Payments to police organisations
- 459Payments for benefit of family members Repealed
- 460Residence etc of claimants
- Patent royalty receipts
- 461Spreading of patent royalty receipts
- Part 9: Special rules about settlements and trustees
- Chapter 1: Introduction
- 462Overview of Part
- 463Interpretation of Part
- 464Scottish trusts
- Chapter 2: General provision about settlements and trustees
- Overview
- 465Overview of Chapter and interpretation
- Settled property
- 466Meaning of “settled property” etc
- Settlors
- 467Meaning of “settlor” etc
- 468Meaning of “disposable property”
- 469Person ceasing to be a settlor
- 470Transfers between settlements
- 471Identification of settlor following transfer covered by section 470
- 472Settlor where property becomes settled because of variation of will etc
- 473Deceased person as settlor where variation of will etc
- Trustees
- 474Trustees of settlement to be treated as a single and distinct person
- 475Residence of trustees
- 476How to work out whether settlor meets condition C
- Sub-funds
- 477Sub-fund elections under Schedule 4ZA to TCGA 1992
- Regulations
- 478References to settled property etc in regulations
- Chapter 3: Special rates for trustees' income
- 479Trustees' accumulated or discretionary income to be charged at special rates
- 480Meaning of “accumulated or discretionary income”
- 481Other amounts to be charged at special rates for trustees
- 482Types of amount to be charged at special rates for trustees
- 483Sums paid by personal representatives to trustees
- Chapter 4: Trustees' expenses and special rates for trustees
- 484Trustees' expenses to be set against trustees' trust rate income
- 485Carry forward of unused expenses
- 486How allowable expenses are to be set against trust rate income
- 487Non-UK resident trustees
- Chapter 5: Share incentive plans
- 488Application of section 479 to trustees of Schedule 2 share incentive plans
- 489“The applicable period” in relation to shares
- 490Interpretation of Chapter
- Chapter 6: Trustees' first slice of trust rate income Repealed
- 491Special rates not to apply to first slice of trustees' trust rate income Repealed
- 492Cases where settlor has made more than one settlement Repealed
- Chapter 7: Discretionary payments
- Payments constituting income of beneficiary (other than employment income)
- 493Discretionary payments by trustees
- 494Grossing up of discretionary payment and payment of income tax
- 495Statement about deduction of income tax
- 496Income tax charged on trustees
- Payments constituting employment income of beneficiary
- 496ADiscretionary payments by trustees: employment income
- 496BRelief for trustees
- Tax pool
- 497Calculation of trustees' tax pool
- 498Types of income tax for the purposes of section 497
- Chapter 8: Trustees' expenses and beneficiary's income
- 499Application of Chapter
- 500Restrictions on use of trustees' expenses to reduce the beneficiary's income
- 501Non-UK resident beneficiaries
- 502Meaning of “untaxed income” in section 501
- 503How beneficiary's income is reduced
- Chapter 9: Unauthorised unit trusts
- 504Treatment of income of unauthorised unit trust Repealed
- 504ATreatment of capital expenditure of unauthorised unit trust Repealed
- 505Relief for trustees of unauthorised unit trust Repealed
- 506Special rules for trustees affected by section 733 of ICTA Repealed
- Chapter 10: Heritage maintenance settlements
- Introduction
- 507Overview of Chapter
- Trustees' election in respect of income etc
- 508Election by trustees
- 509Change of circumstances during a tax year
- Absence of election and income treated as income of settlor: special rules
- 510Sums applied for property maintenance purposes
- 511Prevention of double taxation: reimbursement of settlor
- Application of property for non-heritage purposes: charge to tax
- 512Charge to tax on some settlements
- 513Income charged
- 514Persons liable
- 515Rate of tax
- 516Transfer of property between settlements
- 517Exemption for income treated as income of settlor
- Part 9A: Transactions in UK land
- Introduction
- 517AOverview of Part
- Amounts treated as profits of a trade
- 517BDisposals of land in the United Kingdom
- 517CDisposals of land: profits treated as trading profits
- 517DDisposals of property deriving its value from land in the United Kingdom
- 517EDisposals within section 517D: profits treated as trading profits
- 517FProfits and losses
- Person to whom profits attributed
- 517GThe chargeable person
- Anti-fragmentation
- 517HFragmented activities
- Calculation of profit or gain on disposal
- 517ICalculation of surplus on a disposal of land
- 517JApportionments
- Arrangements for avoiding tax
- 517KArrangements for avoiding tax
- Exemptions
- 517LGain attributable to period before intention to develop formed
- 517MPrivate residences
- Other supplementary provisions
- 517NTracing value
- 517ORelevance of transactions, arrangements, etc
- Interpretation
- 517P“Another person”
- 517Q“Arrangement”
- 517R“Disposal”
- 517S“Land” and related expressions
- 517TReferences to realising a gain
- 517URelated parties
- Part 10: Special rules about charitable trusts etc
- Introduction
- 518Overview of Part
- 519Meaning of “charitable trust” Repealed
- Gifts and other payments
- 520Gifts entitling donor to gift aid relief: income tax treated as paid
- 521Gifts entitling donor to gift aid relief: income tax liability and exemption
- 521AGifts under payroll deduction schemes: income tax liability and exemption
- 522Gifts of money from companies: income tax liability and exemption
- 523Payments from other charities: income tax liability and exemption
- 523ALegacies: income tax liability and exemption
- Other exemptions
- 524Exemption for profits etc of charitable trades
- 525Meaning of “charitable trade”
- 526Exemption for profits etc of small-scale trades
- 527Exemption from charges under provisions to which section 1016 applies
- 528Condition as to trading and miscellaneous incoming resources
- 529Exemption for profits from fund-raising events
- 530Exemption for profits from lotteries
- 531Exemption for property income etc
- 532Exemption for savings and investment income
- 533Exemption for public revenue dividends
- 534Exemption for transactions in deposits
- 535Exemption for offshore income gains
- 536Exemption for certain miscellaneous income
- 537Exemption for income from estates in administration
- Claims
- 538Requirement to make claim
- 538AClaims in relation to gift aid relief etc
- Restrictions on exemptions
- 539Restrictions on exemptions
- 540The non-exempt amount
- 541Attributing income to the non-exempt amount
- 542How income is attributed to the non-exempt amount
- Non-charitable expenditure
- 543Meaning of “non-charitable expenditure”
- 544Section 543: supplementary
- 545Section 543(1)(f): meaning of expenditure
- 546Section 543(1)(f): tax year in which certain expenditure treated as incurred
- 547Section 543(1)(f): payment to body outside the UK
- 548Section 543(1)(i) and (j): investments and loans
- Substantial donor transactions
- 549Transactions with substantial donors Repealed
- 550Meaning of “relievable gift” Repealed
- 551Non-charitable expenditure in substantial donor transactions Repealed
- 552Adjustment if section 551(1) and (2) applied to single transaction Repealed
- 553Section 551: certain payments and benefits to be ignored Repealed
- 554Transactions: exceptions Repealed
- 555Donors: exceptions Repealed
- 556Connected charities Repealed
- 557Substantial donor transactions: supplementary Repealed
- Approved charitable investments and loans
- 558Approved charitable investments
- 559Securities which are approved charitable investments
- 560Conditions to be met for some securities
- 561Approved charitable loans
- Carry back of excess non-charitable expenditure
- 562Excess expenditure treated as non-charitable expenditure of earlier years
- 563Rules for attributing excess expenditure to earlier years
- 564Adjustments in consequence of section 562
- Part 10A: Alternative finance arrangements
- Introduction
- 564AIntroduction
- 564BMeaning of “financial institution”
- Arrangements that are alternative finance arrangements
- 564CPurchase and resale arrangements
- 564DDiminishing shared ownership arrangements : initial acquisition
- 564DADiminishing shared ownership arrangements: refinancing
- 564EDeposit arrangements
- 564FProfit share agency arrangements
- 564GInvestment bond arrangements
- 564HProvision not at arm's length: exclusion of arrangements from sections 564C to 564G
- Meaning of “alternative finance return”
- 564IPurchase and resale arrangements
- 564JPurchase and resale arrangements where return in foreign currency
- 564KDiminishing shared ownership arrangements
- 564LOther arrangements
- Treatment of alternative finance return as interest etc
- 564MTreatment of alternative finance return as interest for ITTOIA 2005
- 564NAlternative finance return under arrangements for trade or property business purposes
- 564ORelief for some alternative finance return under Chapter 1 of Part 8 etc
- 564PTax relief schemes and arrangements
- 564QDeduction of income tax at source under Part 15
- Special rules for investment bond arrangements
- 564RTreatment of discount
- 564STreatment of bond-holder and bond-issuer
- 564TTreatment as securities
- 564UArrangements not unit trust scheme or offshore fund
- Other rules
- 564VExclusion of alternative finance return from consideration for sale of assets
- 564WDiminishing shared ownership arrangements not partnerships
- 564WADiminishing shared ownership arrangements: further provision in respect of refinancing
- 564XTreatment of principal under profit share agency arrangements
- 564YProvision not at arm's length: relevant return
- Part 11: Manufactured payments and repos
- Chapter 1: Introduction
- 565Overview of Part Repealed
- 566Meaning of “UK shares” and “UK securities” Repealed
- 567Meaning of “overseas shares”, “overseas securities” and “overseas dividend” Repealed
- 568Meaning of “stock lending arrangement” Repealed
- 569Meaning of “repo” Repealed
- 570Meaning of “buying back” securities etc Repealed
- 571Meaning of “related” agreements Repealed
- Chapter 2: Manufactured payments
- Introduction
- 572Overview of Chapter Repealed
- 572AMeaning of “avoidance arrangements” Repealed
- Manufactured dividends on UK shares
- 573Manufactured dividends on UK shares Repealed
- 574Allowable deductions... Repealed
- 575Allowable deductions: restriction on double-counting Repealed
- 576Manufactured dividends on UK shares: Real Estate Investment Trusts Repealed
- 577Statements about manufactured dividends Repealed
- Manufactured interest on UK securities
- 578Manufactured interest on UK securities Repealed
- 579Allowable deductions... Repealed
- 580Allowable deductions: restriction on double counting Repealed
- Manufactured overseas dividends
- 581Manufactured overseas dividends Repealed
- 581AAvoidance arrangements Repealed
- 582Powers about manufactured overseas dividends Repealed
- Special cases
- 583Manufactured payments exceeding underlying payments Repealed
- 584Manufactured payments less than underlying payments Repealed
- 585Power to deal with other special cases Repealed
- General regulation-making powers
- 586Powers about administrative provisions Repealed
- 587Power for manufactured payments to be eligible for relief Repealed
- 588Regulation-making powers: general Repealed
- Interpretation
- 589Meaning of “gross amount”: interest and manufactured overseas dividends Repealed
- 590Meaning of “relevant withholding tax” Repealed
- 591Interpretation of other terms used in Chapter Repealed
- Chapter 3: Tax credits: stock lending arrangements and repos
- Stock lending arrangements
- 592No tax credits for borrower under stock lending arrangement Repealed
- Repos
- 593No tax credits for interim holder under repo Repealed
- 594No tax credits for original owner under repo Repealed
- Interpretation
- 595Meaning of “manufactured dividend” Repealed
- Chapter 4: Deemed manufactured payments
- Stock lending arrangements
- 596Deemed manufactured payments: stock lending arrangements
- 597Deemed interest: cash collateral under stock lending arrangements Repealed
- 598Cash collateral under stock lending arrangements: supplementary Repealed
- 599Sections 597 and 598: quasi-stock lending arrangements and quasi-cash collateral Repealed
- 600Meaning of “quasi-stock lending arrangements” and “quasi-cash collateral” Repealed
- Repos
- 601Repo cases in which deeming rules apply Repealed
- 602Deemed manufactured payments: repos Repealed
- 603Deemed deductions of tax Repealed
- 604Deemed increase in repurchase price: price differences under repos Repealed
- 605Deemed increase in repurchase price: other income tax purposes Repealed
- Interpretation
- 606Interpretation of Chapter
- Chapter 5: Price differences under repos
- Main tax treatment
- 607Treatment of price differences under repos Repealed
- 608Exceptions to section 607 Repealed
- Additional tax treatment
- 609Additional income tax consequences of price differences Repealed
- Interpretation
- 610Repurchase price in deemed manufactured payment case Repealed
- Power to modify
- 611Power to modify Chapter in non-arm's length case Repealed
- Chapter 6: Powers to modify repo provisions
- 612Non-standard repo cases Repealed
- 613Redemption arrangements Repealed
- 614Sections 612 and 613: supplementary Repealed
- Part 11ZA: Manufactured payments
- 614ZAOverview of Part
- 614ZBKey definitions
- 614ZCTreatment of payer of manufactured payment
- 614ZDTreatment of recipient of manufactured payment
- Part 11A: Leasing arrangements: finance leases and loans
- Chapter 1: Introduction
- Introduction
- 614AOverview of Part
- Meaning of expressions about rent
- 614AANormal rent
- 614ABAccountancy rental earnings
- 614ACRental earnings
- Chapter 2: Finance leases with return in capital form
- Introduction
- 614BArrangements to which this Chapter applies
- 614BAPurposes of this Chapter
- Leases to which this Chapter applies
- 614BBApplication of this Chapter
- 614BCThe conditions referred to in section 614BB(1)
- 614BDProvisions supplementing section 614BC
- 614BEThe arrangements and circumstances referred to in section 614BC(8)
- Current lessor taxed by reference to accountancy rental earnings
- 614BFCurrent lessor taxed by reference to accountancy rental earnings
- Reduction of taxable rent by cumulative rental excesses
- 614BGReduction of taxable rent by cumulative rental excesses: introduction
- 614BHMeaning of “accountancy rental excess” and “cumulative accountancy rental excess”
- 614BIReduction of taxable rent by the cumulative accountancy rental excess
- 614BJMeaning of “normal rental excess” and “cumulative normal rental excess”
- 614BKReduction of taxable rent by the cumulative normal rental excess
- Relief for bad debts by reduction of cumulative rental excesses
- 614BLRelief for bad debts: reduction of cumulative accountancy rental excess
- 614BMRecovery of bad debts following reduction under section 614BL
- 614BNRelief for bad debts: reduction of cumulative normal rental excess
- 614BORecovery of bad debts following reduction under section 614BN
- Effect of disposals
- 614BPEffect of disposals of leases: general
- 614BQAssignments on which neither a gain nor a loss accrues
- Capital allowances: claw-back of major lump sum
- 614BREffect of capital allowances: introduction
- 614BSCases where expenditure taken into account under Part 2, 5 or 8 of CAA 2001
- 614BTCases where expenditure taken into account under other provisions of CAA 2001
- 614BUCapital allowances deductions: waste disposal and cemeteries
- 614BVCapital allowances deductions: films and sound recordings
- 614BWContributors to capital expenditure
- Schemes to which this Chapter does not at first apply
- 614BXPre-26 November 1996 schemes where this Chapter does not at first apply
- 614BYPost-25 November 1996 schemes to which Chapter 3 applied first
- Chapter 3: Other finance leases
- Introduction
- 614CIntroduction to Chapter
- 614CAPurpose of this Chapter
- Leases to which this Chapter applies
- 614CBLeases to which this Chapter applies
- Current lessor taxed by reference to accountancy rental earnings
- 614CCCurrent lessor taxed by reference to accountancy rental earnings
- Application of provisions of Chapter 2 for purposes of this Chapter
- 614CDApplication of provisions of Chapter 2 for purposes of this Chapter
- Chapter 4: Supplementary provisions
- 614DPre-26 November 1996 schemes and post-25 November 1996 schemes
- 614DATime apportionment where periods of account do not coincide
- 614DBPeriods of account and related periods of account and tax years
- 614DCConnected persons
- 614DDAssets which represent the leased asset
- 614DEParent undertakings and consolidated group accounts
- 614DFAssessments and adjustments
- 614DGInterpretation
- Part 12: Accrued income profits
- Chapter 1: Introduction
- 615Overview of Part
- Chapter 2: Accrued income profits and losses
- Charge to tax
- 616Charge to tax on accrued income profits
- 617Income charged
- 618Person liable
- Securities to which Chapter applies
- 619Meaning of “securities” and when securities are of the same kind
- Transfers to which Chapter applies
- 620Transactions which are transfers: general
- 621Transferors and transferees
- 622Application of Chapter to different kinds of transfer
- 623Transfers with accrued interest
- 624Transfers without accrued interest
- 625Transfers with unrealised interest
- 626Transfers of variable rate securities
- 627Meaning of “variable rate securities”
- Calculating accrued income profits and losses
- 628Making accrued income profits and losses: general rule
- 629Calculating accrued income profits and losses where section 628 applies
- 630Making accrued income profits: settlement day outside interest period
- 631Amount of accrued income profits where section 630 applies
- The payments treated as made on transfers
- 632Payment on transfer with accrued interest
- 633Payment on transfer without accrued interest
- 634Payment on transfer with unrealised interest
- 635Payment on transfer of variable rate securities
- Exception where there is a transfer to a legatee
- 636Exception where there is a transfer to a legatee
- Relief for losses
- 637Accrued income losses treated as payments in next interest period
- Excluded transferors and transferees
- 638Excluded persons: disregard of certain payments and transfers
- 639Small holdings: individuals
- 640Small holdings: personal representatives
- 641Small holdings: trustees of a disabled person's trusts
- 642Traders
- 643Non-residents
- 644Individuals to whom the remittance basis applies Repealed
- 645Charitable trusts etc
- 646Pension scheme trustees
- 647Makers of manufactured payments
- Further transactions treated as transfers
- 648Strips of gilt-edged securities
- 649New securities issued with extra return
- 650Trading stock appropriations etc
- 651Owner becoming entitled to securities as trustee
- 652Securities ceasing to be held on charitable trusts
- Excluded transfers
- 653Stock lending
- 654Sale and repurchase arrangements
- 655Transfers under sale and repurchase arrangements
- 656Power to modify: non-standard sale and repurchase arrangements
- 657Power to modify: redemption arrangements
- 658Powers to modify: supplementary
- Special rules about some calculations
- 659Transfers with or without accrued interest: interest in default
- 660Transfers with unrealised interest: interest in default
- 661Successive transfers with unrealised interest in default
- 662New securities issued with extra return: special rules about payments
- 663Transfers without accrued interest to makers of manufactured payments
- 664Foreign currency securities: sterling equivalent of payments on transfers
- 665Foreign currency securities: unrealised interest payable in foreign currency
- Nominees and trustees
- 666Certain transfers by or to nominees or trustees treated as made by or to others
- 667Trustees' accrued income profits treated as settlement income
- Relief where transfer proceeds unremittable
- 668Relief for unremittable transfer proceeds: general
- 669Relief for unremittable transfer proceeds: section 630 profits
- 670Withdrawal of relief
- Individuals to whom remittance basis applies
- 670AIndividuals to whom remittance basis applies
- Interpretation
- 671Meaning of “interest”
- 672Meaning of “interest payment day”
- 673Meaning of “interest period”
- 674Meaning of “the settlement day”
- 675The holding of securities
- 676Nominal value of securities: general
- 677Nominal value: foreign currency securities
- Chapter 3: Exemptions relating to interest on securities
- 678Exemptions relating to interest on securities: preliminary
- 679Interest on securities involving accrued income losses: general
- 680Interest on securities involving accrued income losses: foreign trustees
- 681Unrealised interest received by transferee after transfer
- Part 12A: Sale and lease-back etc
- Chapter 1: Payments connected with transferred land
- Overview
- 681AOverview
- Application of the Chapter
- 681AATransferor or associate becomes liable for payment of rent
- 681ABTransferor or associate becomes liable for payment other than rent
- 681ACRelevant income tax relief and relevant deduction from earnings
- Relief: restriction and carrying forward
- 681ADRelevant income tax relief: deduction not to exceed commercial rent
- Certain deductions from earnings: restriction and carrying forward of relief
- 681AEDeduction from earnings not to exceed commercial rent
- 681AFCarrying forward parts of payments
- 681AGAggregation and apportionment of payments
- 681AHPayments made for later periods
- Interpretation etc
- 681AIExclusion of service charges etc
- 681AJCommercial rent: comparison with rent under a lease
- 681AKCommercial rent: comparison with payments other than rent
- 681ALLease and rent
- 681AMAssociated persons
- 681ANLand outside the UK
- Chapter 2: New lease of land after assignment or surrender
- Overview
- 681BOverview
- Application of the Chapter
- 681BANew lease after assignment or surrender
- Taxation of consideration
- 681BBTaxation of consideration
- 681BCPosition where new lease does not include all original property
- Relief for rent under new lease
- 681BDRelief for rent under new lease
- New lease treated as ending
- 681BENew lease treated as ending
- 681BFPosition where rent reduces
- 681BGPosition where lease may be ended
- 681BHPosition where lease may be varied
- 681BILease treated as ending: rentcharge
- Lease varied to provide for increased rent
- 681BJLease varied to provide for increased rent
- Interpretation
- 681BKRelevant income tax relief
- 681BLLinked persons
- 681BMLease, lessee, lessor and rent
- Chapter 3: Leased trading assets
- Overview
- 681COverview
- Application of the Chapter
- 681CAProfessions and vocations
- 681CBLeased trading assets
- Relief: restriction and carrying forward
- 681CCTax deduction not to exceed commercial rent
- 681CDLong funding finance leases
- 681CECommercial rent
- Interpretation
- 681CFLease
- 681CGRelevant asset
- Chapter 4: Leased assets: capital sums
- Overview
- 681DOverview
- Application of the Chapter
- 681DAApplication of the Chapter
- 681DBPayment under lease
- 681DCSum obtained
- Charge to income tax
- 681DDCharge to income tax
- 681DEHire-purchase agreements
- 681DFAdjustments where sum obtained before payment made
- Obtaining of sum
- 681DGSum obtained in respect of interest
- 681DHSum obtained in respect of lessee's interest
- 681DIDisposal of interest to associate
- Apportionment
- 681DJApportionment of payments made and of sums obtained
- 681DKManner of apportionment
- Interpretation
- 681DLAssociates
- 681DMCapital sum
- 681DNLease
- 681DORelevant asset
- 681DPRelevant tax relief
- Part 13: Tax avoidance
- Chapter 1: Transactions in securities
- Introduction
- 682Overview of Chapter
- 683Provisions of Chapter
- Person liable to counteraction of income tax advantages
- 684Person liable to counteraction of income tax advantage
- 685Receipt of consideration in connection with distribution by or assets of close company
- 686Excluded circumstances: fundamental change of ownership
- 687Income tax advantage
- 688Receipt of consideration representing company's assets, future receipts or trading stock (circumstance C) Repealed
- 689Receipt of consideration in connection with relevant company distribution (circumstance D) Repealed
- 690Receipt of assets of relevant company (circumstance E) Repealed
- 691Meaning of “relevant company” in sections 689 and 690 Repealed
- 692Abnormal dividends: general Repealed
- 693Abnormal dividends: the excessive return condition Repealed
- 694Abnormal dividends: the excessive accrual condition Repealed
- Procedure for counteraction of income tax advantages
- 695Notice of enquiry
- 696Opposed notifications: statutory declarations Repealed
- 697Opposed notifications: determinations by tribunal Repealed
- 698Counteraction notices
- 698ANo-counteraction notices
- 699Limit on amount assessed in section 689 and 690 cases Repealed
- 700Timing of assessments ...
- Clearance procedure ...
- 701Application for clearance of transactions
- 702Effect of clearance notification under section 701
- 703Power to obtain information Repealed
- ...
- 704The tribunal Repealed
- Appeals
- 705Appeals against counteraction notices
- 706Rehearing by tribunal of appeal against counteraction notice Repealed
- 707Statement of case by tribunal for opinion of High Court or Court of Session Repealed
- 708Cases before High Court or Court of Session Repealed
- 709Effect of appeals against tribunal's determination under section 706 Repealed
- 710Appeals from High Court or Court of Session Repealed
- 711Proceedings in Northern Ireland Repealed
- Supplementary
- 712Application of Chapter where individual within section 684 dies
- 713Interpretation of Chapter
- Chapter 2: Transfer of assets abroad
- Introduction
- 714Overview of Chapter
- 715Meaning of “relevant transaction”
- 716Meaning of “relevant transfer” and “transfer”
- 717Meaning of “assets” etc
- 718Meaning of “person abroad” etc
- 719Meaning of “associated operation”
- 719AOther definitions
- Charge where power to enjoy income
- 720Charge to tax on income treated as arising under section 721
- 720ATransfers by closely-held companies
- 721Individuals with power to enjoy income as a result of relevant transactions
- 721AMeaning of “protected foreign-source income” in section 721 Repealed
- 721BSection 721A: tainting Repealed
- 722When an individual has power to enjoy income of person abroad
- 723The enjoyment conditions
- 724Special rules where benefit provided out of income of person abroad
- 725Reduction in amount charged where controlled foreign company involved
- 725ARecovery of tax paid as a result of section 721
- 726Qualifying new residents and remittance-basis users: “foreign” deemed income
- Charge where capital sums received
- 727Charge to tax on income treated as arising under section 728
- 727ATransfers by closely-held companies
- 728Individuals receiving capital sums as a result of relevant transactions
- 729The capital receipt conditions
- 729AMeaning of “protected foreign-source income” in section 728 Repealed
- 729BRecovery of tax paid as a result of section 728
- 730Qualifying new residents and remittance-basis users: “foreign” deemed income
- Charge where benefit received
- 731Charge to tax on income treated as arising under section 732
- 732Non-transferors receiving a benefit as a result of relevant transactions
- 733Income charged under section 731
- 733ASettlor liable for section 731 charge on closely-related beneficiary Repealed
- 733BRecipients of onward gifts Repealed
- 733CCases where income treated as arising to recipient of onward gift Repealed
- 733DCases where deemed income attributed to recipient of onward gift Repealed
- 733ECases where settlor liable following onward gift Repealed
- 734Reduction in amount charged: previous capital gains tax charge
- 734AReduction in amount charged: previous settlements charge Repealed
- 735Qualifying new residents and remittance-basis users: “foreign” deemed income
- 735ASection 735: relevant income and benefits relating to foreign deemed income
- Transitional provision about protected foreign-source income and transitionally protected income
- 735AASettlements to which following sections apply
- 735AB“Protected foreign-source income” and “transitionally protected income”
- 735ACTransitionally protected income not to be taxed on remittance
- 735ADSettlor liable for benefits charge despite being transferor
- 735AESettlor liable in place of close family member
- 735AFOnward gifts from non-residents or qualifying new residents
- 735AGDeduction allowed for previous settlements charge
- 735BHistorical liability under section 733A where remittance basis applied
- 735CHistorical operation of section 733C or 733E where remittance basis applied
- Exemptions: no tax avoidance purpose or genuine commercial transaction
- 736Exemptions: introduction
- 737Exemption: all relevant transactions post-4 December 2005 transactions
- 738Meaning of “commercial transaction”
- 739Exemption: all relevant transactions pre-5 December 2005 transactions
- 740Exemption: relevant transactions include both pre-5 December 2005 and post-4 December 2005 transactions
- 741Application of section 742 (partial exemption)
- 742Partial exemption where later associated operations fail conditions
- 742APost-5 April 2012 transactions: exemption for genuine transactions Repealed
- Value of certain benefits
- 742BValue of certain benefits
- 742CValue of benefit provided by a payment by way of loan
- 742DValue of benefit provided by making movable property available
- 742EValue of benefit provided by making land available
- General
- 743No duplication of charges
- 744Meaning of taking income into account in charging income tax for section 743
- 745Rates of tax applicable to income charged under sections 720 and 727 etc
- 746Deductions and reliefs where individual charged under section 720 or 727
- 747Amounts corresponding to accrued income profits and related interest
- Supplementary
- 748Power to obtain information
- 749Restrictions on particulars to be provided by relevant lawyers
- 750Restrictions on particulars to be provided by banks
- 751The tribunal’s jurisdiction on appeals
- Chapter 3: Transactions in land Repealed
- Introduction Repealed
- 752Overview of Chapter Repealed
- 753Meaning of disposing of land Repealed
- 754Priority of other income tax provisions Repealed
- Charge on gains from transactions in land Repealed
- 755Charge to tax on gains from transactions in land Repealed
- 756Income treated as arising when gains obtained from some land disposals Repealed
- 757Person obtaining gain Repealed
- 758Income charged Repealed
- 759Person liable Repealed
- 760Method of calculating gain Repealed
- Further provisions relevant to the charge Repealed
- 761Transactions, arrangements, sales and realisations relevant for Chapter Repealed
- 762Tracing value Repealed
- 763Meaning of “another person” Repealed
- 764Valuations and apportionments Repealed
- Exemptions Repealed
- 765Exemption: gain attributable to period before intention to develop formed Repealed
- 766Exemption: disposals of shares in companies holding land as trading stock Repealed
- 767Exemption: private residences Repealed
- Recovery of tax Repealed
- 768Recovery of tax where consideration receivable by person not assessed Repealed
- 769Recovery of tax: certificates of tax paid etc Repealed
- Clearances and power to obtain information Repealed
- 770Clearance procedure Repealed
- 771Power to obtain information Repealed
- Interpretation Repealed
- 772Interpretation of Chapter Repealed
- Chapter 4: Sales of occupation income
- Introduction
- 773Overview of Chapter
- 774Meaning of “occupation”
- 775Priority of other tax provisions
- Charge on sale of occupation income
- 776Charge to tax on sale of occupation income
- 777Conditions for sections 778 and 779 to apply
- 778Income arising where capital amount other than derivative property or right obtained
- 779Income arising where derivative property or right obtained
- Further provisions relevant to the charge
- 780Transactions, arrangements, sales and realisations relevant for Chapter
- 781Tracing value
- 782Meaning of “other person”
- 783Valuations and apportionments
- Exemption for sales of going concerns
- 784Exemption for sales of going concerns
- 785Restriction on exemption: sales of future earnings
- Recovery of tax
- 786Recovery of tax where consideration receivable by person not assessed
- 787Recovery of tax: certificates of tax paid etc
- Power to obtain information
- 788Power to obtain information Repealed
- Interpretation
- 789Minor definitions
- Chapter 5: Avoidance involving trading losses
- Introduction
- 790Overview of Chapter
- Individuals in partnership: recovery of excess relief
- 791Charge to tax on income treated as received under section 792
- 792Partners claiming excess sideways or capital gains relief
- 793Calculating the amount of income treated as received
- 794Meaning of “the total amount of trade losses claimed” etc
- 795Meaning of “post-1 December 2004 loss”
- Individuals claiming relief for film-related trading losses
- 796Charge to tax on income treated as received under section 797
- 797Individuals claiming sideways or capital gains relief for film-related losses
- 798Meaning of “non-taxable consideration” etc
- 799Meaning of “disposal of a right of the individual to profits” etc
- 800Meaning of “film-related losses” etc
- 801Meaning of “capital contribution”
- 802Exclusion of amounts in calculating capital contribution by a partner
- 803Prohibition against double counting
- Individuals in partnership claiming relief for licence-related trading losses
- 804Charge to tax on income treated as received under section 805
- 805Partners claiming relief for licence-related trading losses
- 806Calculation of amount of income treated as received by the individual
- 807Supplementary provision relating to calculation in section 806
- 808Meaning of “disposal of the licence” etc
- 809Other definitions
- Chapter 5A: Transfers of income streams
- 809AZAApplication of Chapter
- 809AZBValue of transferred income stream treated as income
- 809AZCException: amount otherwise taxed
- 809AZDException: certain annuities
- 809AZEException: transfer by way of security
- 809AZFPartnership shares
- 809AZGInterpretation
- Chapter 5AA: Disposals of income streams through partnerships
- 809AAZAApplication of Chapter
- 809AAZBRelevant amount to be treated as income
- Chapter 5B: Finance arrangements
- Type 1 arrangements
- 809BZAType 1 finance arrangement defined
- 809BZBCertain tax consequences not to have effect
- 809BZCPayments treated as borrower's income
- 809BZDDeemed interest if borrower is not a partnership
- 809BZEDeemed interest if borrower is a partnership
- Type 2 arrangements
- 809BZFType 2 finance arrangement defined
- 809BZGRelevant change in relation to partnership
- 809BZHCertain tax consequences not to have effect
- 809BZIDeemed interest
- Type 3 arrangements
- 809BZJType 3 finance arrangement defined
- 809BZKCertain tax consequences not to have effect
- 809BZLDeemed interest
- Exceptions
- 809BZMExceptions: preliminary
- 809BZNExceptions
- 809BZOExceptions: relevant person
- 809BZPPower to make further exceptions
- Supplementary
- 809BZQAccounts
- 809BZRArrangements
- 809BZSAssets
- Chapter 5C: Loan or credit transactions
- 809CZALoan or credit transaction defined
- 809CZBCertain payments treated as yearly interest
- 809CZCTax charged on income transferred
- Chapter 5D: Disposals of assets through partnerships
- 809DZAApplication of Chapter
- 809DZBRelevant amount to be treated as income
- Chapter
- Chapter 5E: Disguised investment management fees
- 809EZADisguised investment management fees: charge to income tax
- 809EZBMeaning of “management fee” in section 809EZA
- 809EZCMeaning of “carried interest” in section 809EZB Repealed
- 809EZDSums treated as “carried interest” for purposes of section 809EZB Repealed
- 809EZDASums arising to connected persons other than companies
- 809EZDBSums arising to connected company or unconnected person
- 809EZEInterpretation of Chapter
- 809EZFDisguised investment management fees: anti-avoidance
- 809EZGDisguised investment management fees: avoidance of double taxation
- 809EZHPowers to amend Chapter
- Chapter 5F: Income-based carried interest Repealed
- Income-based carried interest Repealed
- 809FZAOverview Repealed
- 809FZBIncome-based carried interest: general rule Repealed
- Average holding period Repealed
- 809FZCAverage holding period Repealed
- Average holding period: disposals Repealed
- 809FZDDisposals Repealed
- 809FZEPart disposals Repealed
- 809FZFUnwanted short-term investments Repealed
- Average holding period: derivatives and hedging Repealed
- 809FZGDerivatives Repealed
- 809FZHHedging: exchange gains and losses Repealed
- 809FZIHedging: interest rates Repealed
- Average holding period: aggregation of acquisitions and disposals Repealed
- 809FZJSignificant interests Repealed
- 809FZKVenture capital funds Repealed
- 809FZLSignificant equity stake funds Repealed
- 809FZMControlling equity stake funds Repealed
- 809FZNReal estate funds Repealed
- 809FZOFunds of funds Repealed
- 809FZPSecondary funds Repealed
- Direct lending funds Repealed
- 809FZQDirect lending funds Repealed
- 809FZRDirect lending funds: exception Repealed
- Conditionally exempt carried interest Repealed
- 809FZSConditionally exempt carried interest Repealed
- 809FZTCarried interest which ceases to be conditionally exempt Repealed
- Supplementary Repealed
- 809FZUEmployment-related securities Repealed
- 809FZV“Loan to own” investments Repealed
- 809FZWAnti-avoidance Repealed
- 809FZXTreasury regulations Repealed
- 809FZY“Reasonable to suppose” Repealed
- Interpretation Repealed
- 809FZZInterpretation of Chapter 5F Repealed
- Chapter 6: Avoidance involving leases of plant and machinery
- 809ZAPlant and machinery leases: capital receipts to be treated as income
- 809ZBSection 809ZA: interpretation Repealed
- 809ZCSection 809ZA: lease of plant and machinery and other property
- 809ZDSection 809ZA: expectation that relevant capital payment will not be paid
- 809ZECapital payment”, “relevant capital payment” etc
- 809ZFFurther interpretation of section 809ZA etc
- 809ZFAConsideration for taking over payment obligations as lessee treated as income
- Chapter 7: Avoidance involving obtaining tax relief for interest
- 809ZGTax relief schemes and arrangements
- Chapter 8: Tainted charity donations
- Introduction
- 809ZHOverview of Chapter
- 809ZIRelievable charity donations
- Tainted donations
- 809ZJTainted donations
- 809ZKCircumstances in which financial advantage deemed to be obtained Repealed
- 809ZLCertain financial assistance to be ignored
- Removal of reliefs and imposition of charge to tax
- 809ZMRemoval of income tax relief where donation becomes tainted in same tax year
- 809ZMAClawback of income tax relief where donation becomes tainted in later tax year
- 809ZMBRemoval or clawback of income tax relief for associated donations
- 809ZNIncome tax charge where gift aid is withdrawn
- 809ZOIncome tax charge where payment of trust income to charity
- Supplementary
- 809ZPConnected charities
- 809ZQConnected persons
- 809ZRMinor definitions
- Part 14: Income tax liability: miscellaneous rules
- Chapter A1: Remittance basis
- Introduction
- 809AOverview of Chapter
- Application of remittance basis
- 809BClaim for remittance basis to apply
- 809CClaim for remittance basis by long-term UK resident: nomination of foreign income and gains to which section 809H(2) is to apply
- 809DApplication of remittance basis without claim where unremitted foreign income and gains under £2,000
- 809EApplication of remittance basis without claim: other cases
- Effect of section 809B, 809D or 809E applying
- 809FEffect on what is chargeable
- 809GClaim for remittance basis: effect on allowances etc
- 809HClaim for remittance basis by long-term UK resident: charge
- 809IRemittance basis charge: income and gains treated as remitted
- 809JSection 809I: order of remittances
- Remittance of income and gains: introduction
- 809KSections 809L to 809Z6: introduction
- Remittance of income and gains: meaning of “remitted to the United Kingdom”
- 809LMeaning of “remitted to the United Kingdom”
- 809MMeaning of “relevant person”
- 809NSection 809L: gift recipients, qualifying property and enjoyment
- 809OSection 809L: dealings where there is a connected operation
- Remittance of income and gains: amount remitted
- 809PSection 809L: amount remitted
- Remittance of income and gains: transfers from mixed funds
- 809QSections 809L and 809P: transfers from mixed funds
- 809RSection 809Q: composition of mixed fund
- 809RZATransfers into TRF capital account
- 809RZBTRF capital account
- 809RZCBreaches of the TRF deposit rule
- 809RZDEffect where 30-day deadline is met
- 809RASpecial mixed fund rules for certain employment cases
- 809RBQualifying accounts
- 809RCBreaches of the deposit rule
- 809RDEffect where 30-day deadline is met
- 809SSection 809Q: anti-avoidance
- Remittance of income and gains: supplementary
- 809TForeign chargeable gains accruing on disposal made otherwise than for full consideration
- 809UDeemed income or gains not to be regarded as remitted before time when they are treated as arising or accruing
- Relief for money used to pay tax etc
- 809UAMoney used for payments on account
- 809VMoney paid to the Commissioners
- Business investment relief
- 809VAMoney or other property used to make investments
- 809VBFailure to invest within 45 days
- 809VCQualifying investments
- 809VDCondition A
- 809VECommercial trades
- 809VFCondition B
- 809VGIncome or gains treated as remitted following certain events
- 809VHMeaning of “potentially chargeable event”
- 809VIThe appropriate mitigation steps
- 809VIAApplication of appropriate mitigation steps where TRF capital involved
- 809VJThe grace period allowed for the appropriate mitigation steps
- 809VKRetention of funds to meet CGT liabilities
- 809VLEffect of taking appropriate mitigation steps within grace period
- 809VMCases involving tax deposits
- 809VNOrder of disposals etc
- 809VOInvestments made from mixed funds
- Relief for certain UK services
- 809WConsideration for certain services
- Exempt property relief
- 809XExempt property
- 809YProperty that ceases to be exempt property treated as remitted
- 809YAException to section 809Y: proceeds taken offshore or invested
- 809YBCondition E: supplementary
- 809YCEffect of disapplying section 809Y
- 809YDChargeable gains accruing on sales of exempt property
- 809YEException to section 809Y: gifts to the nation
- 809YFException to section 809Y: compensation taken offshore or invested
- 809ZPublic access rule: general
- 809Z1Public access rule: relevant VAT relief Repealed
- 809Z2Personal use rule
- 809Z3Repair rule
- 809Z4Temporary importation rule
- 809Z5Notional remitted amount
- 809Z6Exempt property: other interpretation
- Interpretation of Chapter
- 809Z7Meaning of “foreign income and gains” etc
- 809Z8Meaning of “the disposal proceeds”
- 809Z9Taking proceeds etc offshore or investing them
- 809Z10General interpretation
- Chapter 1: Limits on liability to income tax of non-UK residents
- Introduction
- 810Overview of Chapter
- Limit for non-UK resident individuals, trustees etc
- 811Limit on liability to income tax of non-UK residents
- 812Case where limit not to apply
- 812ATemporary non-residents
- 813Meaning of “disregarded income”
- 814Meaning of “disregarded transaction income”
- Limit for non-UK resident companies
- 815Limit on liability to income tax of non-UK resident companies
- 816Meaning of “disregarded company income”
- The independent broker conditions
- 817The independent broker conditions
- The independent investment manager conditions
- 818The independent investment manager conditions
- 819Investment managers: the 20% rule Repealed
- 820Meaning of “qualifying period” Repealed
- 821Meaning of “relevant disregarded income” Repealed
- 822Meaning of “beneficial entitlement” Repealed
- 823Treatment of transactions where requirements of 20% rule not met Repealed
- 824Application of 20% rule to collective investment schemes Repealed
- Supplementary
- 825Meaning of “disregarded savings and investment income”
- 826Meaning of “disregarded annual payments”
- 827Meaning of “investment manager” and “investment transaction”
- 828Transactions through brokers and investment managers
- Chapter 1A: Exemption for persons not domiciled in United Kingdom Repealed
- 828AIntroduction Repealed
- 828BConditions to be met Repealed
- 828CThe exemption Repealed
- 828DInterpretation of Chapter Repealed
- Chapter 2: Residence
- 829Residence of individuals temporarily abroad Repealed
- 830Residence of individuals working abroad Repealed
- 831Foreign income of individuals in the United Kingdom for temporary purpose Repealed
- 832Employment income of individuals in the United Kingdom for temporary purpose Repealed
- 833Visiting forces etc
- 834Residence of personal representatives
- 835Residence rules for trustees ...
- 835AResidence of companies
- Chapter 2A: Domicile
- 835BDomicile for income tax purposes of overseas electors Repealed
- 835BADeemed domicile
- Chapter 2B: UK representative of non-UK resident
- Introduction
- 835COverview of Chapter
- 835DIncome tax chargeable on company's income: application
- Branches and agencies
- 835EBranch or agency treated as UK representative
- 835FTrade or profession carried on in partnership
- Persons who are not UK representatives
- 835GAgents
- 835HBrokers
- 835IInvestment managers
- 835JPersons acting under alternative finance arrangements
- 835KLloyd's agents Repealed
- The independent broker conditions
- 835LThe independent broker conditions
- The independent investment manager conditions
- 835MThe independent investment manager conditions
- 835NInvestment managers: the 20% rule Repealed
- 835OMeaning of “qualifying period”, “relevant disregarded income” and “beneficial entitlement” Repealed
- 835PTreatment of transactions where 20% rule not met Repealed
- 835QApplication of 20% rule to collective investment schemes Repealed
- Supplementary
- 835RSupplementary provision
- 835SInterpretation of Chapter
- Chapter 2C: Income tax obligations and liabilities imposed on UK representatives
- 835TIntroduction to Chapter
- 835UObligations and liabilities of UK representative
- 835VExceptions: notices and information
- 835WExceptions: criminal offences and penalties etc
- 835XIndemnities
- 835YMeaning of “independent agent”
- Chapter 3: Jointly held property
- 836Jointly held property
- 837Jointly held property: declarations of unequal beneficial interests
- Chapter 3A: Banks etc in compulsory liquidation
- 837AOverview of Chapter
- 837BApplication of Chapter
- 837CCharge to income tax on winding up receipts
- 837DTransfer of rights to payment
- 837EAllowable deductions
- 837FElection to carry back
- 837GRelationship of Chapter with other income tax provisions
- 837HInterpretation of Chapter
- Chapter 4: Other miscellaneous rules
- 838Local authorities and local authority associations
- 838AAsbestos compensation settlements
- 839Issue departments of the Reserve Bank of India and the State Bank of Pakistan
- 840Government securities held by non-UK resident central banks
- 841Official agents of Commonwealth countries etc
- 842UK Economic Interest Groupings and European Economic Interest Groupings
- 843Restriction of deductions for annual payments
- 844Letters patent etc: exempting provisions
- 845Extra return to be treated as interest etc
- 846Interpretation of section 845
- Part 15: Deduction of income tax at source
- Chapter 1: Introduction
- 847Overview of Part
- 848Income tax deducted at source treated as income tax paid by recipient
- 849Interaction with other Income Tax Acts provisions
- Chapter 2: Meaning of “relevant investment” for purposes of section 876
- Introduction
- 850Overview of Chapter
- ...
- 851Duty to deduct sums representing income tax Repealed
- 852Power to make regulations disapplying section 851 Repealed
- Deposit-takers and relevant investments
- 853Meaning of “deposit-taker”
- 854Power to prescribe persons as deposit-takers
- 855Meaning of “investment” and “deposit”
- 856Investments which are relevant investments
- 857Investments to be treated as being or as not being relevant investments
- ...
- 858Declarations of non-UK residence: individuals Repealed
- 859Declarations of non-UK residence: Scottish partnerships Repealed
- 860Declarations of non-UK residence: personal representatives Repealed
- 861Declarations of non-UK residence: settlements Repealed
- 862Inspection of declarations Repealed
- Investments which are not relevant investments
- 863General client account deposits
- 864Qualifying uncertificated eligible debt security units
- 865Qualifying certificates of deposit
- 866Qualifying time deposits
- 867Lloyd's premium trust funds
- 868Investments held outside the United Kingdom
- 869Sale and repurchase of securities Repealed
- 870Other investments
- Supplementary
- 871Power to make regulations to give effect to Chapter Repealed
- 872Power to make orders amending Chapter
- 873Discretionary or accumulation settlements
- Chapter 3: Deduction from certain payments of yearly interest
- Duty to deduct sums representing income tax
- 874Duty to deduct from certain payments of yearly interest
- Exceptions from duty to deduct
- 875Interest paid by building societies
- 876Interest paid by deposit-takers
- 877UK public revenue dividends
- 878Interest paid by banks
- 879Interest paid on advances from banks
- 880Interest paid on advances from building societies
- 881National Savings Bank interest
- 882Quoted Eurobond interest
- 883Interest on loan to buy life annuity
- 884Relevant foreign income
- 885Authorised persons dealing in financial instruments
- 886Interest paid by recognised clearing houses etc
- 887Payments made by registered societies
- 888Statutory interest
- 888AQualifying private placements
- 888BDesignated dividends of investment trusts
- 888CInterest distributions of certain open-ended investment companies
- 888DInterest distribution of certain authorised unit trusts
- 888DAPayments of interest by a QAHC
- 888EInterest on certain peer-to-peer lending
- Chapter 4: Deduction from payments in respect of building society securities
- 889Payments in respect of building society securities
- Chapter 5: Deduction from payments of UK public revenue dividends
- Introduction
- 890Overview of Chapter
- 891Meaning of “UK public revenue dividend”
- Duty to deduct sums representing income tax
- 892Duty to deduct from certain UK public revenue dividends
- Payments which are payable gross
- 893Payments of UK public revenue dividends which are payable gross
- 894Treasury directions
- Deduction at source applications
- 895Deduction at source application
- 896Withdrawal of application
- Regulations
- 897Power to make regulations
- Chapter 6: Deduction from annual payments and patent royalties
- Introduction
- 898Overview of Chapter
- 899Meaning of “qualifying annual payment”
- Duty to deduct from annual payments
- 900Deduction from commercial payments made by individuals
- 901Deduction from annual payments made by other persons
- 902Meaning of “applicable rate” in section 901 Repealed
- Duty to deduct from patent royalties
- 903Deduction from patent royalties
- Supplementary
- 904Annual payments for dividends or non-taxable consideration
- 905Interpretation of Chapter
- Chapter 7: Deduction from other payments connected with intellectual property
- Certain royalties etc where usual place of abode of owner is abroad
- 906Certain royalties etc where usual place of abode of owner is abroad
- 907Meaning of “intellectual property”
- 908Royalty payments etc made through UK resident agents
- 909Royalty payments: further provision
- Proceeds of a sale of patent rights
- 910Proceeds of a sale of patent rights: payments to non-UK residents
- Chapter 8: Chapters 6 and 7: special provision in relation to royalties
- Deduction at special rates
- 911Double taxation arrangements: deduction at treaty rate
- 912Power to make directions disapplying section 911
- 913Interpretation of sections 911 and 912
- ...
- 914European Union Repealed
- 915Power to make directions disapplying section 914 Repealed
- 916Duty of payee to notify if payment not exempt Repealed
- 917Supplementary Repealed
- Tax avoidance
- 917ATax avoidance arrangements
- Chapter 9: Manufactured payments
- Manufactured dividends
- 918Manufactured dividends on UK shares: Real Estate Investment Trusts
- Manufactured interest
- 919Manufactured interest on UK securities: payments by UK residents etc
- 920Foreign payers of manufactured interest: the reverse charge Repealed
- 921Cases where interest on underlying securities paid gross
- Manufactured overseas dividends
- 922Manufactured overseas dividends: payments by UK residents etc Repealed
- 923Foreign payers of manufactured overseas dividends: the reverse charge Repealed
- 924Power to reduce section 923 liability Repealed
- 925Power to provide set-off entitlement Repealed
- Repos
- 925ACreditor repos
- 925BDebtor repos Repealed
- 925CActual payments ignored if section 925A ... applies
- 925DPower to modify repo sections
- 925ECases where section 925D applies: non-standard repos
- 925FInterpretation of the repo sections
- Supplementary
- 926Interpretation of Chapter
- 927Regulation-making powers: general
- Chapter 10: Deduction from non-commercial payments by companies
- 928Chargeable payments connected with exempt distributions
- Chapter 11: Payments between companies etc: exception from duties to deduct
- Introduction
- 929Overview of Chapter
- Exception from duties to deduct for excepted payments
- 930Exception from duties to deduct sums representing income tax
- 931Power to make directions disapplying section 930
- 932Meaning of “qualifying partnership”
- Excepted payments
- 933UK resident companies
- 934Non-UK resident companies
- 935PEP and ISA managers
- 936Recipients who are to be paid gross
- 937Partnerships
- Incorrect belief that payment is an excepted payment
- 938Consequences of reasonable but incorrect belief
- Chapter 12: Funding bonds
- 939Duty to retain bonds where issue treated as payment of interest
- 940Exception from duty to retain bonds
- 940ANo appropriate bond or combination of bonds
- Chapter 13: Unauthorised unit trusts
- 941Deemed payments to unit holders and deemed deductions of income tax Repealed
- 942Income tax to be collected from trustees Repealed
- 943Calculation of trustees' income pool Repealed
- ...Treatment of cases involving double tax relief Repealed
- 943BThe “foreign element” of a deemed deduction or deemed income Repealed
- 943CCalculation of trustees' double tax relief pool Repealed
- 943DAnnual statements Repealed
- Chapter 14: Tax avoidance: directions for duty to deduct to apply
- 944Directions for deduction from payments to non-UK residents
- Chapter 15: Collection: deposit-takers, building societies and certain companies
- Introduction
- 945Overview of Chapter
- 946Payments within this section
- 947Return periods
- 948Meaning of “accounting period”
- Returns of income tax
- 949Payments in an accounting period
- 950Payments otherwise than in an accounting period
- Collection and payment of income tax
- 951Collection and payment of income tax
- Set-off
- 952Conditions for a set-off claim
- 953How a set-off claim works
- 954Proceedings begun after a set-off claim is made
- 955Proceedings begun before a set-off claim is made
- Assessments and errors
- 956Assessments where section 946 payment included in return
- 957Assessments in other cases
- 958Payer's duty to deliver amended return
- 959Application of Income Tax Acts provisions about time limits for assessments
- 960Further provisions about assessments
- Supplementary
- 961Relationship between Chapter and Income Tax Acts powers
- 962Power to make regulations modifying Chapter
- Chapter 16: Collection: certain payments by other persons
- 963Collection of income tax on certain payments by other persons
- 963APower to make regulations modifying section 963
- Chapter 17: Collection through self-assessment return
- 964Collection through self-assessment return
- Chapter 18: Other regimes involving the deduction of income tax at source
- Visiting performers
- 965Overview of sections 966 to 970
- 966Duty to deduct and account for sums representing income tax
- 967Calculation of sums representing income tax
- 968Treatment of sums representing income tax
- 969Regulations
- 970Supplementary
- Non-resident landlords
- 971Income tax due in respect of income of non-resident landlords
- 972Regulations under section 971
- Real Estate Investment Trusts
- 973Income tax due in respect of distributions
- 974Regulations under section 973
- Chapter 19: General
- Supplementary
- 975Statements about deduction of income tax
- 975AStatements about certain payments of interest
- 976Arrangements for payments of interest less tax or at specified net rate
- 977Payments to companies
- 978Application to public departments
- 979Designated international organisations: exceptions from duties to deduct
- 979AFSCS payments representing interest
- 980Derivative contracts: exception from duties to deduct
- 981Foreign currency securities etc: exception from duties to deduct
- 981AOffshore receipts in respect of intangible property: exception from duties to deduct Repealed
- 982Income tax is calculated by reference to gross amounts
- Interpretation
- 983Meaning of “deposit”
- 984Meaning of “financial instrument”
- 985Meaning of “qualifying certificate of deposit”
- 986Meaning of “qualifying uncertificated eligible debt security unit”
- 987Meaning of “quoted Eurobond”
- Part 16: Income Tax Acts definitions etc
- Chapter 1: Definitions
- 988Overview of Chapter
- 989The definitions
- 990Meaning of “Act”
- 991Meaning of “bank”
- 992Meaning of “company”
- 993Meaning of “connected” persons
- 994Meaning of “connected” persons: supplementary
- 995Meaning of “control”
- 996Meaning of “farming” and related expressions
- 997Meaning of “generally accepted accounting practice” and related expressions
- 998Meaning of “grossing up”
- 998AMeaning of “hire-purchase agreement”
- 999Meaning of “local authority”
- 1000Meaning of “local authority association”
- 1001Meaning of “offshore installation”
- 1002Regulations about the meaning of “offshore installation”
- 1003Meaning of “oil and gas exploration and appraisal”
- 1004Meaning of “property investment LLP”
- 1005Meaning of “recognised stock exchange”etc
- 1006Meaning of “research and development”
- 1007Meaning of “unit trust scheme”
- 1007AMeaning of “permanent establishment”
- Chapter 2: Other Income Tax Acts provisions
- 1008Scotland
- 1009Sources of income within the charge to income tax or corporation tax
- 1010Application of Income Tax Acts to recognised investment exchanges Repealed
- 1011References to married persons, or civil partners, living together
- 1012Relationship between rules on highest part of total income
- 1013Territorial sea of the United Kingdom
- 1014Orders and regulations
- 1015Territorial scope of charges under certain provisions to which section 1016 applies
- 1016Table of provisions to which this section applies
- Part 17: Definitions for purposes of Act and final provisions
- Definitions for the purposes of Act
- 1017Abbreviated references to Acts
- 1018“Act” to include Scottish and Northern Ireland legislation in some cases
- 1019Meaning of “certificate of deposit”
- 1020Claims and elections
- 1021Application of definitions of “connected” persons and “control”
- 1022Meaning of “debenture”
- 1023Meaning of “double taxation arrangements”
- 1024Meaning of “gilt-edged securities”
- 1025Meaning of “modified net income”
- 1026Meaning of “non-qualifying income” for the purposes of section 1025
- Final provisions
- 1027Minor and consequential amendments
- 1028Power to make consequential provision
- 1029Power to undo changes
- 1030Transitional provisions and savings
- 1031Repeals and revocations
- 1032Index of defined expressions
- 1033Extent
- 1034Commencement
- 1035Short title
- Schedule 1: Minor and consequential amendments
- Part 1: Income and Corporation Taxes Act 1988
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6 Repealed
- 7Paragraph 7
- 8Paragraph 8
- 9Paragraph 9 Repealed
- 10Paragraph 10 Repealed
- 11Paragraph 11
- 12Paragraph 12 Repealed
- 13Paragraph 13
- 14Paragraph 14 Repealed
- 15Paragraph 15 Repealed
- 16Paragraph 16 Repealed
- 17Paragraph 17 Repealed
- 18Paragraph 18
- 19Paragraph 19
- 20Paragraph 20
- 21Paragraph 21 Repealed
- 22Paragraph 22 Repealed
- 23Paragraph 23
- 24Paragraph 24
- 25Paragraph 25
- 26Paragraph 26 Repealed
- 27Paragraph 27 Repealed
- 28Paragraph 28 Repealed
- 29Paragraph 29 Repealed
- 30Paragraph 30 Repealed
- 31Paragraph 31 Repealed
- 32Paragraph 32 Repealed
- 33Paragraph 33 Repealed
- 34Paragraph 34 Repealed
- 35Paragraph 35 Repealed
- 36Paragraph 36
- 37Paragraph 37 Repealed
- 38Paragraph 38
- 39Paragraph 39
- 40Paragraph 40
- 41Paragraph 41
- 42Paragraph 42
- 43Paragraph 43
- 44Paragraph 44
- 45Paragraph 45
- 46Paragraph 46
- 47Paragraph 47
- 48Paragraph 48
- 49Paragraph 49
- 50Paragraph 50
- 51Paragraph 51 Repealed
- 52Paragraph 52 Repealed
- 53Paragraph 53
- 54Paragraph 54
- 55Paragraph 55
- 56Paragraph 56
- 57Paragraph 57
- 58Paragraph 58
- 59Paragraph 59
- 60Paragraph 60
- 61Paragraph 61
- 62Paragraph 62
- 63Paragraph 63
- 64Paragraph 64
- 65Paragraph 65
- 66Paragraph 66
- 67Paragraph 67
- 68Paragraph 68
- 69Paragraph 69
- 70Paragraph 70
- 71Paragraph 71
- 72Paragraph 72
- 73Paragraph 73
- 74Paragraph 74 Repealed
- 75Paragraph 75
- 76Paragraph 76 Repealed
- 77Paragraph 77 Repealed
- 78Paragraph 78 Repealed
- 79Paragraph 79
- 80Paragraph 80
- 81Paragraph 81
- 82Paragraph 82
- 83Paragraph 83 Repealed
- 84Paragraph 84
- 85Paragraph 85 Repealed
- 86Paragraph 86 Repealed
- 87Paragraph 87 Repealed
- 88Paragraph 88
- 89Paragraph 89
- 90Paragraph 90
- 91Paragraph 91 Repealed
- 92Paragraph 92
- 93Paragraph 93
- 94Paragraph 94 Repealed
- 95Paragraph 95 Repealed
- 96Paragraph 96 Repealed
- 97Paragraph 97 Repealed
- 98Paragraph 98 Repealed
- 99Paragraph 99 Repealed
- 100Paragraph 100 Repealed
- 101Paragraph 101
- 102Paragraph 102
- 103Paragraph 103
- 104Paragraph 104 Repealed
- 105Paragraph 105 Repealed
- 106Paragraph 106 Repealed
- 107Paragraph 107 Repealed
- 108Paragraph 108
- 109Paragraph 109 Repealed
- 110Paragraph 110
- 111Paragraph 111 Repealed
- 112Paragraph 112 Repealed
- 113Paragraph 113
- 114Paragraph 114 Repealed
- 115Paragraph 115
- 116Paragraph 116
- 117Paragraph 117 Repealed
- 118Paragraph 118
- 119Paragraph 119 Repealed
- 120Paragraph 120 Repealed
- 121Paragraph 121 Repealed
- 122Paragraph 122 Repealed
- 123Paragraph 123 Repealed
- 124Paragraph 124 Repealed
- 125Paragraph 125 Repealed
- 126Paragraph 126 Repealed
- 127Paragraph 127 Repealed
- 128Paragraph 128 Repealed
- 129Paragraph 129 Repealed
- 130Paragraph 130 Repealed
- 131Paragraph 131 Repealed
- 132Paragraph 132 Repealed
- 133Paragraph 133
- 134Paragraph 134 Repealed
- 135Paragraph 135
- 136Paragraph 136
- 137Paragraph 137 Repealed
- 138Paragraph 138 Repealed
- 139Paragraph 139 Repealed
- 140Paragraph 140
- 141Paragraph 141 Repealed
- 142Paragraph 142
- 143Paragraph 143
- 144Paragraph 144
- 145Paragraph 145
- 146Paragraph 146 Repealed
- 147Paragraph 147
- 148Paragraph 148 Repealed
- 149Paragraph 149
- 150Paragraph 150
- 151Paragraph 151 Repealed
- 152Paragraph 152 Repealed
- 153Paragraph 153 Repealed
- 154Paragraph 154 Repealed
- 155Paragraph 155 Repealed
- 156Paragraph 156 Repealed
- 157Paragraph 157 Repealed
- 158Paragraph 158 Repealed
- 159Paragraph 159 Repealed
- 160Paragraph 160 Repealed
- 161Paragraph 161 Repealed
- 162Paragraph 162
- 163Paragraph 163 Repealed
- 164Paragraph 164 Repealed
- 165Paragraph 165 Repealed
- 166Paragraph 166 Repealed
- 167Paragraph 167 Repealed
- 168Paragraph 168 Repealed
- 169Paragraph 169 Repealed
- 170Paragraph 170 Repealed
- 171Paragraph 171
- 172Paragraph 172 Repealed
- 173Paragraph 173 Repealed
- 174Paragraph 174 Repealed
- 175Paragraph 175 Repealed
- 176Paragraph 176
- 177Paragraph 177
- 178Paragraph 178
- 179Paragraph 179 Repealed
- 180Paragraph 180 Repealed
- 181Paragraph 181 Repealed
- 182Paragraph 182
- 183Paragraph 183 Repealed
- 184Paragraph 184 Repealed
- 185Paragraph 185 Repealed
- 186Paragraph 186 Repealed
- 187Paragraph 187 Repealed
- 188Paragraph 188 Repealed
- 189Paragraph 189 Repealed
- 190Paragraph 190 Repealed
- 191Paragraph 191 Repealed
- 192Paragraph 192 Repealed
- 193Paragraph 193 Repealed
- 194Paragraph 194 Repealed
- 195Paragraph 195 Repealed
- 196Paragraph 196 Repealed
- 197Paragraph 197
- 198Paragraph 198
- 199Paragraph 199 Repealed
- 200Paragraph 200
- 201Paragraph 201
- 202Paragraph 202
- 203Paragraph 203
- 204Paragraph 204
- 205Paragraph 205
- 206Paragraph 206
- 207Paragraph 207
- 208Paragraph 208
- 209Paragraph 209
- 210Paragraph 210
- 211Paragraph 211
- 212Paragraph 212 Repealed
- 213Paragraph 213
- 214Paragraph 214 Repealed
- 215Paragraph 215
- 216Paragraph 216
- 217Paragraph 217
- 218Paragraph 218
- 219Paragraph 219 Repealed
- 220Paragraph 220 Repealed
- 221Paragraph 221 Repealed
- 222Paragraph 222 Repealed
- 223Paragraph 223 Repealed
- 224Paragraph 224 Repealed
- 225Paragraph 225 Repealed
- 226Paragraph 226 Repealed
- 227Paragraph 227 Repealed
- 228Paragraph 228 Repealed
- 229Paragraph 229
- 230Paragraph 230 Repealed
- 231Paragraph 231 Repealed
- 232Paragraph 232
- 233Paragraph 233
- 234Paragraph 234
- 235Paragraph 235
- 236Paragraph 236
- 237Paragraph 237 Repealed
- 238Paragraph 238 Repealed
- 239Paragraph 239 Repealed
- 240Paragraph 240
- Part 2: Other enactments
- Chevening Estate Act 1959 (c. 49)
- 241Paragraph 241
- Taxes Management Act 1970 (c. 9)
- 242Paragraph 242
- 243Paragraph 243 Repealed
- 244Paragraph 244 Repealed
- 245Paragraph 245
- 246Paragraph 246
- 247Paragraph 247
- 248Paragraph 248
- 249Paragraph 249
- 250Paragraph 250 Repealed
- 251Paragraph 251
- 252Paragraph 252
- 253Paragraph 253
- 254Paragraph 254
- 255Paragraph 255 Repealed
- 256Paragraph 256 Repealed
- 257Paragraph 257
- 258Paragraph 258
- 259Paragraph 259 Repealed
- 260Paragraph 260
- 261Paragraph 261
- 262Paragraph 262
- 263Paragraph 263
- 264Paragraph 264
- Finance Act 1971 (c. 68)
- 265Paragraph 265
- Biological Standards Act 1975 (c. 4)
- 266Paragraph 266
- House of Commons Disqualification Act 1975 (c. 24)
- 267Paragraph 267 Repealed
- Inheritance Tax Act 1984 (c. 51)
- 268Paragraph 268
- 269Paragraph 269
- 270Paragraph 270
- 271Paragraph 271
- Administration of Justice Act 1985 (c. 61)
- 272Paragraph 272
- Building Societies Act 1986 (c. 53)
- 273Paragraph 273
- Finance Act 1988 (c. 39)
- 274Paragraph 274
- 275Paragraph 275 Repealed
- 276Paragraph 276
- 277Paragraph 277 Repealed
- Finance Act 1989 (c. 26)
- 278Paragraph 278
- 279Paragraph 279 Repealed
- 280Paragraph 280
- 281Paragraph 281
- 282Paragraph 282
- 283Paragraph 283
- Finance Act 1990 (c. 29)
- 284Paragraph 284
- Finance Act 1991 (c. 31)
- 285Paragraph 285
- 286Paragraph 286
- 287Paragraph 287
- Social Security Contributions and Benefits Act 1992 (c. 4)
- 288Paragraph 288
- 289Paragraph 289
- 290Paragraph 290
- Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7)
- 291Paragraph 291
- 292Paragraph 292
- 293Paragraph 293
- Taxation of Chargeable Gains Act 1992 (c. 12)
- 294Paragraph 294
- 295Paragraph 295 Repealed
- 296Paragraph 296 Repealed
- 297Paragraph 297
- 298Paragraph 298
- 299Paragraph 299
- 300Paragraph 300
- 301Paragraph 301 Repealed
- 302Paragraph 302 Repealed
- 303Paragraph 303
- 304Paragraph 304
- 305Paragraph 305
- 306Paragraph 306
- 307Paragraph 307
- 308Paragraph 308
- 309Paragraph 309
- 310Paragraph 310 Repealed
- 311Paragraph 311
- 312Paragraph 312
- 313Paragraph 313 Repealed
- 314Paragraph 314
- 315Paragraph 315
- 316Paragraph 316
- 317Paragraph 317
- 318Paragraph 318
- 319Paragraph 319
- 320Paragraph 320
- 321Paragraph 321
- 322Paragraph 322
- 323Paragraph 323
- 324Paragraph 324
- 325Paragraph 325 Repealed
- 326Paragraph 326
- 327Paragraph 327
- 328Paragraph 328
- 329Paragraph 329
- 330Paragraph 330
- 331Paragraph 331
- 332Paragraph 332
- 333Paragraph 333
- 334Paragraph 334 Repealed
- 335Paragraph 335
- 336Paragraph 336
- 337Paragraph 337
- 338Paragraph 338
- 339Paragraph 339
- 340Paragraph 340
- 341Paragraph 341
- 342Paragraph 342
- 343Paragraph 343 Repealed
- 344Paragraph 344
- 345Paragraph 345
- 346Paragraph 346
- 347Paragraph 347
- 348Paragraph 348
- 349Paragraph 349
- Finance (No. 2) Act 1992 (c. 48)
- 350Paragraph 350 Repealed
- Tribunals and Inquiries Act 1992 (c. 53)
- 351Paragraph 351 Repealed
- Judicial Pensions and Retirement Act 1993 (c. 8)
- 352Paragraph 352
- Charities Act 1993 (c. 10)
- 353Paragraph 353 Repealed
- Finance Act 1993 (c. 34)
- 354Paragraph 354
- 355Paragraph 355
- 356Paragraph 356
- 357Paragraph 357
- 358Paragraph 358
- 359Paragraph 359 Repealed
- 360Paragraph 360
- 361Paragraph 361
- Agriculture Act 1993 (c. 37)
- 362Paragraph 362
- Finance Act 1994 (c. 9)
- 363Paragraph 363
- Finance Act 1995 (c. 4)
- 364Paragraph 364
- 365Paragraph 365
- 366Paragraph 366
- 367Paragraph 367 Repealed
- 368Paragraph 368
- 369Paragraph 369
- 370Paragraph 370
- Finance Act 1996 (c. 8)
- 371Paragraph 371 Repealed
- 372Paragraph 372 Repealed
- 373Paragraph 373 Repealed
- 374Paragraph 374 Repealed
- 375Paragraph 375 Repealed
- 376Paragraph 376 Repealed
- Finance (No.2) Act 1997 (c. 58)
- 377Paragraph 377
- 378Paragraph 378
- 379Paragraph 379 Repealed
- Finance Act 1998 (c. 36)
- 380Paragraph 380
- 381Paragraph 381
- 382Paragraph 382
- 383Paragraph 383
- 384Paragraph 384
- 385Paragraph 385
- Greater London Authority Act 1999 (c. 29)
- 386Paragraph 386
- 387Paragraph 387
- 388Paragraph 388
- Finance Act 2000 (c. 17)
- 389Paragraph 389
- 390Paragraph 390 Repealed
- 391Paragraph 391
- 392Paragraph 392 Repealed
- 393Paragraph 393
- 394Paragraph 394
- 395Paragraph 395
- Capital Allowances Act 2001 (c. 2)
- 396Paragraph 396
- 397Paragraph 397
- 398Paragraph 398
- 399Paragraph 399
- 400Paragraph 400
- 401Paragraph 401
- 402Paragraph 402
- 403Paragraph 403
- 404Paragraph 404
- 405Paragraph 405
- 406Paragraph 406 Repealed
- 407Paragraph 407
- 408Paragraph 408
- 409Paragraph 409
- 410Paragraph 410
- 411Paragraph 411
- 412Paragraph 412
- 413Paragraph 413
- Finance Act 2002 (c. 23)
- 414Paragraph 414
- 415Paragraph 415
- 416Paragraph 416
- 417Paragraph 417
- 418Paragraph 418
- 419Paragraph 419 Repealed
- 420Paragraph 420 Repealed
- 421Paragraph 421
- 422Paragraph 422 Repealed
- 423Paragraph 423
- Proceeds of Crime Act 2002 (c. 29)
- 424Paragraph 424
- Income Tax (Earnings and Pensions) Act 2003 (c. 1)
- 425Paragraph 425
- 426Paragraph 426
- 427Paragraph 427
- 428Paragraph 428
- 429Paragraph 429
- 430Paragraph 430
- 431Paragraph 431
- 432Paragraph 432
- 433Paragraph 433
- 434Paragraph 434
- 435Paragraph 435
- 436Paragraph 436
- 437Paragraph 437
- 438Paragraph 438
- 439Paragraph 439
- 440Paragraph 440
- 441Paragraph 441
- 442Paragraph 442
- 443Paragraph 443
- 444Paragraph 444
- 445Paragraph 445
- 446Paragraph 446
- 447Paragraph 447
- 448Paragraph 448
- 449Paragraph 449
- 450Paragraph 450
- Finance Act 2003 (c. 14)
- 451Paragraph 451
- 452Paragraph 452
- 453Paragraph 453 Repealed
- 454Paragraph 454
- 455Paragraph 455
- Finance Act 2004 (c. 12)
- 456Paragraph 456
- 457Paragraph 457
- 458Paragraph 458 Repealed
- 459Paragraph 459
- 460Paragraph 460
- 461Paragraph 461
- 462Paragraph 462
- 463Paragraph 463
- 464Paragraph 464
- 465Paragraph 465
- 466Paragraph 466
- 467Paragraph 467
- 468Paragraph 468
- 469Paragraph 469
- 470Paragraph 470
- 471Paragraph 471
- 472Paragraph 472
- 473Paragraph 473
- 474Paragraph 474
- 475Paragraph 475
- 476Paragraph 476
- 477Paragraph 477
- 478Paragraph 478
- 479Paragraph 479
- 480Paragraph 480
- 481Paragraph 481
- 482Paragraph 482
- 483Paragraph 483
- 484Paragraph 484
- 485Paragraph 485
- Pensions Act 2004 (c. 35)
- 486Paragraph 486
- 487Paragraph 487
- 488Paragraph 488
- Constitutional Reform Act 2005 (c. 4)
- 489Paragraph 489
- 490Paragraph 490
- 491Paragraph 491
- Income Tax (Trading and Other Income) Act 2005 (c. 5)
- 492Paragraph 492
- 493Paragraph 493
- 494Paragraph 494
- 495Paragraph 495
- 496Paragraph 496
- 497Paragraph 497
- 498Paragraph 498
- 499Paragraph 499
- 500Paragraph 500
- 501Paragraph 501
- 502Paragraph 502
- 503Paragraph 503
- 504Paragraph 504
- 505Paragraph 505
- 506Paragraph 506
- 507Paragraph 507
- 508Paragraph 508 Repealed
- 509Paragraph 509 Repealed
- 510Paragraph 510 Repealed
- 511Paragraph 511
- 512Paragraph 512
- 513Paragraph 513
- 514Paragraph 514
- 515Paragraph 515
- 516Paragraph 516 Repealed
- 517Paragraph 517
- 518Paragraph 518
- 519Paragraph 519
- 520Paragraph 520 Repealed
- 521Paragraph 521
- 522Paragraph 522 Repealed
- 523Paragraph 523
- 524Paragraph 524
- 525Paragraph 525
- 526Paragraph 526
- 527Paragraph 527
- 528Paragraph 528
- 529Paragraph 529
- 530Paragraph 530 Repealed
- 531Paragraph 531
- 532Paragraph 532
- 533Paragraph 533
- 534Paragraph 534
- 535Paragraph 535
- 536Paragraph 536
- 537Paragraph 537 Repealed
- 538Paragraph 538 Repealed
- 539Paragraph 539
- 540Paragraph 540
- 541Paragraph 541 Repealed
- 542Paragraph 542 Repealed
- 543Paragraph 543 Repealed
- 544Paragraph 544 Repealed
- 545Paragraph 545 Repealed
- 546Paragraph 546
- 547Paragraph 547
- 548Paragraph 548
- 549Paragraph 549
- 550Paragraph 550
- 551Paragraph 551
- 552Paragraph 552
- 553Paragraph 553
- 554Paragraph 554
- 555Paragraph 555
- 556Paragraph 556
- 557Paragraph 557
- 558Paragraph 558
- 559Paragraph 559
- 560Paragraph 560
- 561Paragraph 561 Repealed
- 562Paragraph 562
- 563Paragraph 563
- 564Paragraph 564 Repealed
- 565Paragraph 565 Repealed
- 566Paragraph 566
- 567Paragraph 567
- 568Paragraph 568
- 569Paragraph 569
- 570Paragraph 570
- 571Paragraph 571
- 572Paragraph 572
- 573Paragraph 573
- 574Paragraph 574
- 575Paragraph 575
- 576Paragraph 576
- 577Paragraph 577
- 578Paragraph 578
- 579Paragraph 579
- 580Paragraph 580
- 581Paragraph 581
- 582Paragraph 582
- 583Paragraph 583
- 584Paragraph 584
- 585Paragraph 585
- 586Paragraph 586
- 587Paragraph 587
- 588Paragraph 588
- 589Paragraph 589
- 590Paragraph 590
- 591Paragraph 591
- 592Paragraph 592
- Finance Act 2005 (c. 7)
- 593Paragraph 593
- 594Paragraph 594
- 595Paragraph 595
- 596Paragraph 596
- 597Paragraph 597 Repealed
- 598Paragraph 598 Repealed
- 599Paragraph 599 Repealed
- 600Paragraph 600
- 601Paragraph 601
- 602Paragraph 602
- Finance (No. 2) Act 2005 (c. 22)
- 603Paragraph 603
- 604Paragraph 604
- 605Paragraph 605
- 606Paragraph 606
- Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1))
- 607Paragraph 607
- 608Paragraph 608
- 609Paragraph 609
- Finance Act 2006 (c. 25)
- 610Paragraph 610
- 611Paragraph 611
- 612Paragraph 612
- 613Paragraph 613
- 614Paragraph 614
- 615Paragraph 615
- 616Paragraph 616 Repealed
- 617Paragraph 617 Repealed
- 618Paragraph 618 Repealed
- 619Paragraph 619 Repealed
- 620Paragraph 620 Repealed
- 621Paragraph 621
- 622Paragraph 622
- 623Paragraph 623
- 624Paragraph 624
- 625Paragraph 625
- 626Paragraph 626 Repealed
- Part 3: Amendment having effect in relation to shares issued after 5 April 2007
- Income and Corporation Taxes Act 1988 (c. 1)
- 627Paragraph 627
- Schedule 2: Transitionals and savings
- Part 1: General provisions
- Continuity of the law: general
- 1Paragraph 1
- 2Paragraph 2
- 3Paragraph 3
- 4Paragraph 4
- 5Paragraph 5
- 6Paragraph 6
- General saving for old transitional provisions and savings
- 7Paragraph 7
- Partnerships involving companies
- 8Paragraph 8
- Interpretation
- 9Paragraph 9
- Part 2: Changes in the law
- 10Paragraph 10
- Part 3: Rates at which income tax is charged
- 11Paragraph 11
- 12Paragraph 12
- 13Paragraph 13
- Part 4: Personal reliefs Repealed
- 14Paragraph 14 Repealed
- 15Paragraph 15 Repealed
- 16Paragraph 16 Repealed
- 17Paragraph 17 Repealed
- Part 5: Losses (except losses on disposal of shares)
- General: carry forward loss reliefs
- 18Paragraph 18
- Trade loss relief against general income
- 19Paragraph 19
- 20Paragraph 20
- Early trade losses relief
- 21Paragraph 21
- 22Paragraph 22
- Sideways relief: trade leasing allowances given to individuals
- 23Paragraph 23
- Sideways relief: dealings in commodity futures
- 24Paragraph 24
- Terminal trade loss relief
- 25Paragraph 25
- Post-cessation trade loss relief and post-cessation property relief
- 26Paragraph 26
- Reliefs for limited partners not to exceed contribution to the firm
- 27Paragraph 27
- Reliefs for members of LLPs not to exceed contribution to the LLP
- 28Paragraph 28
- Members of LLPs: carry-forward of losses
- 29Paragraph 29
- Reliefs for non-active partners not to exceed contribution to the firm
- 30Paragraph 30
- Non-active partners: carry-forward of losses
- 31Paragraph 31
- Restriction on reliefs for non-active partners: pre-10 February 2004 events
- 32Paragraph 32
- 33Paragraph 33
- Regulations under section 114
- 34Paragraph 34
- Application of existing regulations under sections 114 and 802
- 35Paragraph 35
- Losses in an employment or office
- 36Paragraph 36
- Loss relief against miscellaneous income: Case VI losses
- 37Paragraph 37
- Part 6: Losses on disposal of shares
- Qualifying trading companies
- 38Paragraph 38
- Disposals of new shares
- 39Paragraph 39
- The trading requirement
- 40Paragraph 40
- Ceasing to meet trading requirement because of administration or receivership
- 41Paragraph 41
- The control and independence requirement
- 42Paragraph 42
- The qualifying subsidiaries requirement
- 43Paragraph 43
- The property managing subsidiaries requirement
- 44Paragraph 44
- The gross assets requirement
- 45Paragraph 45
- The unquoted status requirement
- 46Paragraph 46
- Power to amend requirements by Treasury order
- 47Paragraph 47
- Relief after an exchange of shares for shares in another company
- 48Paragraph 48
- Substitution of new shares for old shares
- 49Paragraph 49
- Interpretation of Chapter
- 50Paragraph 50
- Meaning of “qualifying subsidiary”
- 51Paragraph 51
- Meaning of “excluded activities”
- 52Paragraph 52
- Excluded activities: wholesale and retail distribution
- 53Paragraph 53
- Excluded activities: leasing of ships
- 54Paragraph 54
- Excluded activities: receipt of royalties and licence fees
- 55Paragraph 55
- Excluded activities: provision of services or facilities for another business
- 56Paragraph 56
- Meaning of a company being “in administration”
- 57Paragraph 57
- Application in relation to corresponding bonus shares
- 57AParagraph 57A
- Part 7: Enterprise investment scheme
- The gross assets requirement
- 58Paragraph 58
- Part 8: Venture capital trusts
- Eligibility for relief
- 59Paragraph 59
- Form and amount of relief
- 60Paragraph 60
- No entitlement to relief if there is a linked loan
- 61Paragraph 61
- Loss of relief if shares disposed of within 5 years
- 62Paragraph 62
- Interpretation of Chapter 2
- 63Paragraph 63
- The 15% holding limit condition
- 64Paragraph 64
- Conditions relating to value of investments
- 65Paragraph 65
- Conditions relating to qualifying holdings and eligible shares: supplementary
- 66Paragraph 66
- Interpretation of Chapter 3
- 67Paragraph 67
- The maximum qualifying investment requirement
- 68Paragraph 68
- The no guaranteed loan requirement
- 69Paragraph 69
- The proportion of eligible shares requirement
- 70Paragraph 70
- The trading requirement
- 71Paragraph 71
- The carrying on of a qualifying activity requirement
- 72Paragraph 72
- Ceasing to meet the requirement because of administration or receivership
- 73Paragraph 73
- The use of the money raised requirement
- 74Paragraph 74
- The relevant company to carry on the relevant qualifying activity requirement
- 75Paragraph 75
- The gross assets requirement
- 76Paragraph 76
- The property managing subsidiaries requirement
- 77Paragraph 77
- Meaning of “qualifying trade”
- 78Paragraph 78
- Meaning of “qualifying 90% subsidiary”
- 79Paragraph 79
- Meaning of “qualifying subsidiary”
- 80Paragraph 80
- Meaning of “excluded activities”
- 81Paragraph 81
- Excluded activities: wholesale and retail distribution
- 82Paragraph 82
- Excluded activities: leasing of ships
- 83Paragraph 83
- Excluded activities: receipt of royalties and licence fees
- 84Paragraph 84
- Excluded activities: provision of services or facilities for another business
- 85Paragraph 85
- Winding up of the relevant company
- 86Paragraph 86
- Acquisitions for restructuring purposes etc
- 87Paragraph 87
- Power to facilitate company reorganisations
- 88Paragraph 88
- Meaning of a company being “in administration”
- 89Paragraph 89
- Meaning of “company”, “shares” and “research and development” in Part 6
- 90Paragraph 90
- Part 9: Other reliefs
- Interest: loans for interests in close companies
- 91Paragraph 91
- 92Paragraph 92
- 93Paragraph 93
- 94Paragraph 94
- Interest: loans for interests in employee-controlled companies
- 95Paragraph 95
- Interest relief: film partnerships
- 96Paragraph 96
- Interest: loans for investing in co-operatives
- 97Paragraph 97
- Gift aid: gifts of money for relief in poor countries
- 98Paragraph 98 Repealed
- Gift aid: restrictions on associated benefits
- 99Paragraph 99
- Gift aid: election to carry back relief
- 100Paragraph 100
- Qualifying maintenance payments: maintenance assessments
- 101Paragraph 101
- Part 10: Special rules about settlements and trustees
- Trustees' expenses to be set against trustees' trust rate income
- 102Paragraph 102
- Share incentive plans: definition of “applicable period”
- 103Paragraph 103
- Discretionary payments: trustees' tax pool
- 104Paragraph 104
- Part 11: Special rules about charitable trusts etc
- Transactions with substantial donors
- 105Paragraph 105 Repealed
- 106Paragraph 106 Repealed
- Non-charitable expenditure
- 107Paragraph 107
- Part ...: ...
- ...
- 108Paragraph 108 Repealed
- 109Paragraph 109 Repealed
- 110Paragraph 110 Repealed
- Deemed manufactured payments: stock lending arrangements
- 111Paragraph 111 Repealed
- 112Paragraph 112 Repealed
- 113Paragraph 113 Repealed
- Deemed manufactured payments: repos
- 114Paragraph 114 Repealed
- 115Paragraph 115 Repealed
- 116Paragraph 116 Repealed
- 117Paragraph 117 Repealed
- 118Paragraph 118 Repealed
- Price differences under repos
- 119Paragraph 119 Repealed
- 120Paragraph 120 Repealed
- 121Paragraph 121 Repealed
- 122Paragraph 122 Repealed
- 123Paragraph 123 Repealed
- Powers to modify repo provisions
- 124Paragraph 124 Repealed
- Part 13: Accrued income profits
- Sale and repurchase arrangements
- 125Paragraph 125
- 126Paragraph 126
- Successive transfers with unrealised interest in default
- 127Paragraph 127
- Unrealised interest received by transferee after transfer within Chapter 2 of Part 12
- 128Paragraph 128
- Part 14: Tax avoidance
- Transactions in securities: general
- 129Paragraph 129
- Transactions in securities: meaning of relevant companies for the purposes of sections 689 and 690
- 130Paragraph 130
- Transactions in securities: statement of case by tribunal for opinion of High Court or Court of Session
- 131Paragraph 131
- Transactions in securities: appeals to House of Lords
- 132Paragraph 132
- Transfers of assets abroad: non-transferors receiving benefit- exclusion of income arising before 10 March 1981
- 133Paragraph 133
- Transfers of assets abroad: whether trustees are “persons abroad”
- 134Paragraph 134
- 135Paragraph 135
- Transfers of assets abroad: whether personal representatives are “persons abroad”
- 136Paragraph 136
- 137Paragraph 137
- Transfers of assets abroad: company residence for transfers between 20 March 1990 and 29 November 1993
- 138Paragraph 138
- Transfers of assets abroad: information powers concerning transfers between 20 March 1990 and 29 November 1993 involving companies
- 139Paragraph 139
- Transfers of assets abroad: income arising before 26 November 1996
- 140Paragraph 140
- Transfers of assets abroad: meaning of “associated operation” and consideration of associated operations alone
- 141Paragraph 141
- Individuals in partnership: recovery of excess relief
- 142Paragraph 142
- 143Paragraph 143
- Individuals claiming relief for film-related trading losses
- 144Paragraph 144
- 145Paragraph 145
- 146Paragraph 146
- 147Paragraph 147
- 148Paragraph 148
- 149Paragraph 149
- Individuals in partnership: exit charge
- 150Paragraph 150
- 151Paragraph 151
- 152Paragraph 152
- 153Paragraph 153
- Part 15: Deduction of income tax at source
- Deduction by deposit-takers: discretionary or accumulation settlements
- 154Paragraph 154 Repealed
- 155Paragraph 155 Repealed
- Deduction by deposit-takers and building societies: declarations of non-UK residence
- 156Paragraph 156 Repealed
- Deduction by deposit-takers: qualifying certificates of deposit
- 157Paragraph 157
- Deduction by deposit-takers: qualifying time deposits
- 158Paragraph 158
- Deduction by deposit-takers and building societies: saving for regulations
- 159Paragraph 159
- 160Paragraph 160
- Deduction by deposit-takers, building societies etc: collection of tax
- 161Paragraph 161
- 162Paragraph 162
- Deduction from certain payments of yearly interest: interest paid by banks
- 163Paragraph 163
- Deduction from certain payments of yearly interest: interest paid on advances from banks
- 164Paragraph 164
- Deduction from certain UK public revenue dividends
- 165Paragraph 165
- 166Paragraph 166
- Unauthorised unit trusts: calculation of trustees' income pool
- 167Paragraph 167 Repealed
- 168Paragraph 168 Repealed
- Non-resident landlords
- 169Paragraph 169
- Interpretation
- 170Paragraph 170
- Part 16: Other provisions
- Old references to surtax and standard rate tax
- 171Paragraph 171
- Section 820 of ICTA
- 172Paragraph 172
- Schedule 3: Repeals and revocations
- 1Repeals and revocations: general
- 2Repeals having effect in relation to shares issued after 5 April 2007
- Schedule 4Index of defined expressions