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The Finance Act 1989, section 178(1), (Appointed Day No. 1) Order 1989

S.I. 1989/1298 · Made 27 July 1989

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

INCOME TAX

INHERITANCE TAX

TAXES

Made 27th July 1989

The Treasury, in exercise of the powers conferred on them by section 178(7) of the Finance Act 1989f1, hereby make the following Order:

Annotations to the whole text

Footnotes

f1

1989 c. 26.

Contents

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

1

This Order may be cited as the Finance Act 1989, section 178(1), (Appointed Day No. 1) Order 1989.

2

(1)

The day appointed for the enactments specified in paragraph (2) for periods beginning on or after which section 178(1) of the Finance Act 1989 shall have effect is 18th August 1989.

(2)

The enactments specified in this paragraph are–

(a)

section 8(9) of the Finance Act 1894f1,

(b)

section 18 of the Finance Act 1896f2,

(c)

section 61(5) of the Finance (1909–10) Act 1910f3,

(d)

section 17(3) of the Law of Property Act 1925f4,

(e)

section 73(6) of the Land Registration Act 1925f5,

(f)

sections 86, 86A, 87 and 88 of the Taxes Management Act 1970f6,

(g)

paragraph 3 of Schedule 16A to the Finance Act 1973f7,

(h)

paragraphs 15 and 16 of Schedule 2, and paragraph 8 of Schedule 5, to the Oil Taxation Act 1975f8,

(i)

section 47 of the Finance (No. 2) Act 1975f9,

(j)

paragraph 59 of Schedule 8 to the Development Land Tax Act 1976f10,

(k)

sections 233 and 236(3) and (4) of the Inheritance Tax Act 1984f11,

(l)

section 92 of the Finance Act 1986f12, and

(m)

sections 160, 824 and 825 of, and paragraph 3 of Schedule 19A to, the Income and Corporation Taxes Act 1988f13.

Signature

Kenneth Carlisle

David Lightbown

Two of the Lords Commissioners of Her Majesty’s Treasury

27th July 1989

Explanatory note

(This note is not part of the Order)

This Order appoints 18th August 1989 as the day for periods beginning on or after which section 178(1) of the Finance Act 1989 (“section 178(1)”) and the repeals contained in Part X of Schedule 17 to that Act, are to have effect for the enactments specified in the Order. Section 178(1) provides that the rate of interest for the purposes of the enactments to which that section applies is to be the rate provided for by regulations made by the Treasury under that section. At the same time as making this Order the Treasury have made the Taxes (Interest Rate) Regulations (S.I. 1989/1297) under that section, which also comes into force on 18th August 1989.

By virtue of section 179(4) of the Finance Act 1989, the amendments made to various enactments by subsections (1), (2) and (3) of that section have effect in relation to any period for which section 178(1) has effect for the purposes of those enactments. Accordingly the amendments of the enactments specified in the Order have effect in relation to periods beginning on or after 18th August 1989.