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The Finance Act 2013, Section 66 (Appointed Day) Order 2013

S.I. 2013/1815 · Made 18 July 2013

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.

Corporation Tax

Capital Gains Tax

Made 18th July 2013

The Treasury make the following Order in exercise of the power conferred by section 66(4) of the Finance Act 2013f1:

Annotations to the whole text

Footnotes

f1

2013 c. 29. See also section 1171(1), (3) and (6)(b) of the Corporation Tax Act 2010.

Contents

  1. 1Citation
  2. 2Appointed day
  3. Signature
  4. Explanatory note

1Citation

This Order may be cited as the Finance Act 2013, Section 66 (Appointed Day) Order 2013.

2Appointed day

The amendments made by section 66 of the Finance Act 2013 come into force on 1st September 2013 and have effect in relation to disposals on or after that date.

Signature

Mark Lancaster

Anne Milton

Two of the Lords Commissioners of Her Majesty’s Treasury

18th July 2013

Explanatory note

(This note is not part of the Order)

This Order appoints 1st September 2013 as the day on which the amendments made by section 66 of the Finance Act 2013 come into force. The amendments in section 66 of the Finance Act 2013 have effect in respect of disposals on or after that date. The amendments made by section 66 will require companies to use their functional currency, or in certain circumstances their designated currency, to compute any chargeable gains and losses on disposals of ships, aircraft, shares, or interests in shares not covered by the substantial shareholdings exemption.

A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy and it is an appointed day order.