Set up a limited company
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UK Act of Parliament
1988
United Kingdom
Income and Corporation Taxes Act 1988 (historical marginal relief formula basis)
At a glance
Enforced by
What's here
49 compliance obligations, 2 practical guides · 7 journeys
Penalty landscape
1 of 49 obligations carry an unlimited fine. 48 have no criminal penalty — flagged in the list below.
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Employer 18
- Trader 15
- Any Person 7
- Trustee 2
- Director or Officer 2
- Operator 1
- Applicant 1
Plus 3 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
Step-by-step journeys using this legislation
Walkthroughs that take you from a real business situation to compliance.
Manage your tax compliance
- 1 step
File your first Corporation Tax return
- 2 steps
Corporation Tax quick compliance check
- 1 step
Start a business
- 1 step
Run your limited company
- 1 step
Relevant guidance
Practical guides for businesses affected by this Act, ordered by how closely they engage with it.
Mentioned in related content
2 guidesOther Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Employers also bound by 694 other Acts (top 5 shown)
- The Income Tax (Pay As You Earn) Regulations 2003 2003 236 duties
- Provision and Use of Work Equipment Regulations 1998 1998 120 duties
- TULRCA 1992 1992 72 duties
- Employment Rights (Northern Ireland) Order 1996 (current NI employment law) 1996 52 duties
- Income Tax (Earnings and Pensions) Act 2003 2003 50 duties
Traders also bound by 826 other Acts (top 5 shown)
- Value Added Tax Regulations 1995 1995 413 duties
- Companies Act 2006 2006 243 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 114 duties
- Insolvency (England and Wales) Rules 2016 2016 62 duties
- Building Societies Act 1986 1986 56 duties
Any Person also bound by 2338 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 169 duties
- Merchant Shipping Act 1995 1995 144 duties
- Insolvency (England and Wales) Rules 2016 2016 101 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 95 duties
Trustees also bound by 100 other Acts (top 5 shown)
- The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 2022 37 duties
- Charities Act 2011 2011 26 duties
- The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 2013 26 duties
- Insolvency (England and Wales) Rules 2016 2016 21 duties
- The Pensions (Northern Ireland) Order 2005 2005 20 duties
Directors and Officers also bound by 425 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 161 duties
- Companies Act 2006 2006 108 duties
- Insolvency Act 1986 1986 72 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 55 duties
- The Housing Administration (England and Wales) Rules 2018 2018 26 duties
Operators also bound by 730 other Acts (top 5 shown)
- Regulation (EU) No 965/2012 (Air Operations) 2012 138 duties
- Commission Implementing Regulation (EU) 2018/2066 of 19 December 2018 on the monitoring and reporting of greenhouse gas emissions pursuant to Directive 2003/87/EC of the European Parliament and of the Council and amending Commission Regulation (EU) No 601/2012 (Text with EEA relevance) 2018 121 duties
- Commission Regulation (EU) No 601/2012 of 21 June 2012 on the monitoring and reporting of greenhouse gas emissions pursuant to Directive 2003/87/EC of the European Parliament and of the Council (Text with EEA relevance) (repealed) 2012 112 duties
- Space Industry Regulations 2021 2021 75 duties
- Regulation (EU) 2016/429 of the European Parliament and of the Council of 9 March 2016 on transmissible animal diseases and amending and repealing certain acts in the area of animal health (‘Animal Health Law’) (Text with EEA relevance) 2016 66 duties
Applicants also bound by 294 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 46 duties
- Human Medicines Regulations 2012 2012 30 duties
- The Land Registration Rules 2003 2003 25 duties
- Value Added Tax Regulations 1995 1995 18 duties
- Space Industry Regulations 2021 2021 14 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Part I — THE CHARGE TO TAX
Browse 28 other sections in this Part — procedural / definitional / commencement
The charge to income tax.
Application of lower rate to income from savings and distributions.
Rates of tax applicable to distribution income etc.
Fractions of a pound, and yearly assessments.
Certain income charged at basic rate.
Construction of references in Income Tax Acts to deduction of tax.
Date for payment.
The charge to corporation tax and exclusion of income tax and capital gains tax.
Treatment of certain payments and repayment of income tax.
General scheme of corporation tax.
Resolutions to reduce corporation tax.
Computation of income: application of income tax principles.
Time for payment of tax.
Companies not resident in United Kingdom.
Determination of profits attributable to permanent establishment
Basis of, and periods for, assessment.
Small companies’ relief.
Close investment-holding companies.
Corporation tax starting rate.
The non-corporate distribution rate
Interpretation of section 13(7)
Advance corporation tax and qualifying distributions.
Schedule A.
Schedule B.
Schedule C.
Schedule D.
Schedule E.
Schedule F.
Part II — PROVISIONS RELATING TO THE SCHEDULE A CHARGE
Browse 42 other sections in this Part — procedural / definitional / commencement
Persons chargeable and basis of assessment.
Computation of amount chargeable.
Application of other rules applicable to Case I of Schedule D.
The Schedule A charge and mutual business.
Assessments.
Collection from lessees and agents.
Construction of Part II.
Deductions from rent: general rules.
Deductions from rent: land managed as one estate.
Deductions from rent: maintenance funds for historic buildings.
Deductions from receipts other than rent.
Sporting rights.
Expenditure on making sea walls.
Provisions supplementary to sections 25 to 30.
Deductions for expenditure by landlords on energy-saving items
Provisions supplementary to section 31A
Deduction for expenditure on energy-saving items
Restrictions on relief
Regulations
Capital allowances for machinery and plant used in estate management.
Agricultural land: allowance for excess expenditure on maintenance.
Rents or receipts payable by a connected person.
Rents or receipts relating to land in respect of which a connected person makes payments to a third party.
Treatment of premiums, etc. as rent.
Charge on assignment of lease granted at an undervalue.
Charge on sale of land with right to reconveyance.
Premiums paid etc: deductions from premiums and rent received.
Section 37(4) and reductions in receipts under ITTOIA 2005
Rules for ascertaining duration of leases.
Saving for pre-1963 leases, and special relief for individuals.
Tax treatment of receipts and outgoings on sale of land.
Relief for rent etc. not paid.
Appeals against determinations under . . . Chapter 4 of Part 3 of ITTOIA 2005.
Non-residents and their representatives.
Non-residents.
Finance agreement: interpretation.
Transfer of rent.
Transfer of rent: exceptions, &c.
Interposed lease.
Interposed lease: exceptions, &c.
Insurance business.
Interpretation.
Part III — GOVERNMENT SECURITIES
Browse 12 other sections in this Part — procedural / definitional / commencement
Income tax: mode of charge.
Interpretation of Part III.
Savings certificates and tax reserve certificates.
United Kingdom government securities held by non-residents.
Securities of foreign states.
Stock and dividends in name of Treasury etc.
United Kingdom securities: Treasury directions for payment without deduction of tax.
Treasury directions as respects Northern Ireland securities.
Gilt-edged securities held under authorised arrangements.
Commencement of direction under section 50 or 51.
Periodic accounting for tax on interest on gilt-edged securities.
Taxation of interest on converted government securities and interest which becomes subject to deduction.
Part IV — PROVISIONS RELATING TO THE SCHEDULE D CHARGE
Valuation of trading stock at discontinuance of trade.
Amended 18 timesValuation of work in progress at discontinuance of profession or vocation.
Amended 12 timesProvisions supplementary to sections 100 and 101.
Amended 10 timesReceipts after discontinuance: earnings basis charge and related charge affecting conventional basis.
Amended 22 timesConventional basis: general charge on receipts after discontinuance . . . .
Amended 14 timesAllowable deductions.
Amended 10 timesApplication of charges where rights to payments transferred.
Amended 6 timesTreatment of receipts as earned income.
Amended 2 timesElection for carry-back.
Amended 3 timesCharge under section 104: relief for individuals born before 6th April 1917.
Amended 2 timesRelief for post-cessation expenditure.
Amended 2 timesInterpretation etc.
Amended 7 timesChange of residence.
Amended 7 timesTreatment of partnerships.
Amended 12 timesPartnerships controlled abroad.
Amended 7 timesEffect, for income tax, of change in ownership of trade, profession or vocation.
Amended 7 timesSpecial rules for computing profits and losses.
Amended 8 timesProvisions supplementary to section 114.
Amended 8 timesArrangements for transferring relief.
Amended 7 timesRestriction on relief: individuals.
Amended 21 timesRestriction on relief: companies.
Amended 17 timesDefinitions.
Amended 17 timesPaying agents.
Amended 17 timesCollecting agents.
Amended 17 timesChargeable payments and chargeable receipts.
Amended 17 timesDeduction of tax from chargeable payments and chargeable receipts.
Amended 17 timesAccounting for tax on chargeable payments and chargeable receipts.
Amended 17 timesRelevant securities of eligible persons.
Amended 17 timesRelevant securities of eligible persons: administration.
Amended 17 timesDeduction of tax at reduced rate.
Amended 17 timesPrevention of double accounting.
Amended 17 timesRegulations.
Amended 17 timesTreatment of limited liability partnerships.
Amended 17 timesRestriction on relief: companies
Amended 17 timesMember’s contribution to trade.
Amended 17 timesCarry forward of unrelieved losses.
Amended 17 timesRestriction on relief for non-active partners
Amended 17 timesMeaning of “the aggregate amount”
Amended 17 times“The individual’s contribution to the trade”
Amended 17 times“A significant amount of time”
Amended 17 timesCarry forward of unrelieved losses of non-active partners
Amended 17 timesTransitional provision for years after the first restricted year
Amended 17 timesPartnerships exploiting films
Amended 17 timesPartnerships exploiting films: supplementary
Amended 17 timesPartners: meaning of “contribution to the trade”
Amended 17 timesMeaning of “relevant loss” in section 118ZN
Amended 17 timesRent etc. payable in connection with mines, quarries and similar concerns.
Amended 7 timesRent etc. payable in respect of electric line wayleaves.
Amended 8 timesManagement expenses of owner of mineral rights.
Amended 3 timesRelief in respect of mineral royalties.
Amended 13 timesForeign dividends.
Amended 12 timesInterest on quoted Eurobonds.
Amended 9 timesAnnual payments for dividends or non-taxable consideration
Amended 15 timesTreasury securities issued at a discount.
Amended 4 timesCharge to tax on appropriation of securities and bonds.
Amended 4 timesEnterprise allowance.
Amended 7 timesFutures and options: transactions with guaranteed returns.
Amended 7 timesCommodity and financial futures etc.: losses and gains.
Amended 12 timesStock lending.
Amended 10 timesStock lending: interest on cash collateral.
Amended 10 timesStock lending fees.
Amended 10 timesMeaning of “investment company” in Part 4
Amended 4 timesBrowse 95 other sections in this Part — procedural / definitional / commencement
Commencement: the first restricted year
Farming and other commercial occupation of land (except woodlands).
Woodlands managed on a commercial basis.
Mines, quarries and other concerns.
Transactions in deposits with and without certificates or in debts.
Disposal or exercise of rights in pursuance of deposits.
Deep discount securities.
Foreign pensions.
Persons chargeable.
Assessment on current year basis.
Basis of assessment at commencement.
Change of basis period.
Conditions for such a change.
Basis of assessment on discontinuance.
Overlap profits and overlap losses.
Case III assessments.
Cases IV and V assessments: general.
Case V income from land outside UK: income tax.
Special rules for fresh income.
Special rules where source of income disposed of or yield ceases.
Special rules where property etc. situated in Republic of Ireland.
Share incentive plans: application of section 68B
Share incentive plans: cash dividends and dividend shares
Share incentive plans: interpretation
Case VI assessments.
Basis of assessment etc.
Case V income from land outside UK: corporation tax.
Computation of income tax where no profits in year of assessment.
Apportionments etc. for purposes of Cases I, II and VI.
Single assessments for purposes of Cases III, IV and V.
General rules as to deductions not allowable.
Expenses of management: companies with investment business
Accounting period to which expenses of management are referable
Amounts reversing expenses of management deducted: charge to tax
Expenses of insurance companies
Levies and repayments under the Financial Services and Markets Act 2000.
Levies and repayments under the Financial Services and Markets Act 2000: investment companies.
Payments for restrictive undertakings
Employees seconded to charities and educational establishments
Counselling and other outplacement services
Retraining courses
Retraining courses: recovery of tax
Redundancy payments and approved contractual payments
Payments in respect of employment wholly in employer's business
Payments in respect of employment in more than one capacity
Additional payments
Payments by the Government
Contributions to local enterprise organisations or urban regeneration companies
Unpaid remuneration
Unpaid remuneration: supplementary
Car or motor cycle hire
Hiring cars (but not motor cycles) with low CO
Incidental costs of obtaining loan finance.
Discounted bills of exchange.
Contributions to local enterprise agencies.
Contributions to training and enterprise councils and local enterprise companies.
Contributions to urban regeneration companies
Expenses connected with foreign trades etc.
Travel between trades etc.
Interest paid to non-residents.
Expenditure on research and development.
Payments to research associations, universities etc.
Patent fees etc. and expenses.
Gifts in kind to charities etc.
Gifts to educational establishments.
Costs of establishing share option or profit sharing schemes: relief.
Payments to trustees of approved profit sharing schemes.
Costs of establishing employee share ownership trusts: relief.
Approved share incentive plans
Employees seconded to charities and educational establishments.
Charitable donations: contributions to agent’s expenses.
Taxable premiums etc.
Section 87(2) and (3) and reductions in receipts under ITTOIA 2005
Payments to Export Credit Guarantee Department.
Debts of overseas governments etc.
Section 88A debts: restriction on deductions under section 74(j).
Section 88A debts: restriction on other deductions.
Restriction of deductions in respect of certain debts
Debts proving to be irrecoverable after discontinuance etc
Additional payments to redundant employees.
Cemeteries.
Waste disposal: restoration payments.
Waste disposal: preparation expenditure.
Waste disposal: entitlement of successor to allowances.
Mineral exploration and access.
Regional development grants.
Other grants under Industrial Development Act 1982 etc.
Debts deducted and subsequently released.
Taxation of dealers in respect of distributions etc.
Creative artists: relief for fluctuating profits
Taxation of UK distributions received by insurance companies
Farming and market gardening: relief for fluctuating profits.
Treatment of farm animals etc.
Tied premises: receipts and expenses treated as those of trade.
Dealers in land.
Part V — PROVISIONS RELATING TO THE SCHEDULE E CHARGE
Chargeable emoluments.
Amended 1 timePlace of performance, and meaning of emoluments received in the U.K.
Amended 2 timesWorkers supplied by agencies.
Amended 1 timeGains by directors and employees from share options.
Amended 10 timesProvisions supplementary to section 135.
Amended 5 timesPayment of tax under section 135 by instalments.
Amended 2 timesShare acquisitions by directors and employees.
Amended 6 timesProvisions supplementary to section 138.
Amended 3 timesFurther interpretation of sections 135 to 139.
Amended 2 timesConditional acquisition of shares.
Amended 2 timesConsideration for shares conditionally acquired.
Amended 2 timesCases where interest to be treated as only conditional.
Amended 2 timesConvertible shares.
Amended 2 timesConsideration for convertible shares.
Amended 2 timesSupplemental provision with respect to convertible shares.
Amended 2 timesInformation for the purposes of sections 140A to 140F.
Amended 2 timesConstruction of sections 140A to 140G.
Amended 2 timesNon-cash vouchers.
Amended 12 timesCredit-tokens.
Amended 9 timesCash vouchers taxable under P.A.Y.E.
Amended 4 timesSupplementary provisions.
Amended 3 timesPayments etc. received free of tax.
Amended 3 timesLiving accommodation provided for employee.
Amended 4 timesAdditional charge in respect of certain living accommodation.
Amended 1 timePriority of rules applying to living accommodation.
Amended 1 timePayments and other benefits in connection with termination of employment, etc.
Amended 5 timesSick pay.
Amended 1 timeJob release scheme allowances, maternity pay and statutory sick pay.
Amended 2 timesNotification of taxable amount of certain benefits.
Amended 8 timesPayments in respect of expenses.
Amended 4 timesGeneral charging provision.
Amended 13 timesExceptions from the general charge.
Amended 8 timesCare for children.
Amended 8 timesMobile telephones.
Amended 8 timesAccommodation, supplies or services used in performing duties of employment.
Amended 8 timesPower to provide for exemption of minor benefits.
Amended 8 timesCash equivalent of benefits charged under section 154.
Amended 1 timeLimited exemption for computer equipment.
Amended 1 timeCars available for private use.
Amended 7 timesCars available for private use: cash alternative, etc.
Amended 7 timesCar fuel.
Amended 33 timesPooled cars.
Amended 1 timeMobile telephones.
Amended 1 timeVans available for private use.
Amended 1 timePooled vans.
Amended 1 timeHeavier commercial vehicles available for private use.
Amended 1 timeBeneficial loan arrangements.
Amended 20 timesExceptions from section 160.
Amended 8 timesTreatment of qualifying loans.
Amended 8 timesBeneficial loans: loans on ordinary commercial terms.
Amended 8 timesEmployee shareholdings.
Amended 8 timesExpenses connected with living accommodation.
Amended 2 timesScholarships.
Amended 1 timeEmployment to which this Chapter applies.
Amended 6 timesOther interpretative provisions.
Amended 15 timesPrice of a car as regards a year.
Amended 15 timesEquipment to enable disabled person to use car.
Amended 15 timesEquipment etc. to enable car to run on road fuel gas.
Amended 15 timesPrice of a car: accessories not included in list price.
Amended 15 timesPrice of a car: accessories available after car first made available.
Amended 15 timesPrice of a car: capital contributions.
Amended 15 timesPrice of a car: replacement accessories.
Amended 15 timesPrice of a car: classic cars.
Amended 15 timesPrice of a car: cap for expensive car.
Amended 15 timesTaxation of profit-related pay.
Amended 1 timeRelief from tax.
Amended 3 timesExceptions from tax.
Amended 3 timesApplications for registration.
Amended 6 timesRegistration.
Amended 1 timeCancellation of registration.
Amended 7 timesRecovery of tax from scheme employer.
Amended 2 timesAnnual returns etc.
Amended 2 timesOther information.
Amended 1 timeAppeals.
Amended 3 timesIndependent accountants.
Amended 7 timesApproved share option schemes.
Amended 16 timesApproved profit sharing schemes.
Amended 13 timesInterpretation of sections 185 and 186 and Schedules 9 and 10.
Amended 18 timesRelief for contributions in respect of share option gains.
Amended 18 timesExemptions from section 148.
Amended 3 timesLump sum benefits on retirement.
Amended 6 timesPayments to MPs and others.
Amended 3 timesRelief from tax for foreign emoluments.
Amended 1 timeForeign earnings deduction for seafarers.
Amended 1 timeForeign earnings and travel expenses.
Amended 1 timeRelief for necessary expenses.
Amended 10 timesInterpretation of section 198.
Amended 10 timesExpenses of Members of Parliament.
Amended 7 timesIncidental overnight expenses.
Amended 7 timesIncidental benefits for holders of certain offices etc.
Amended 7 timesWork-related training provided by employers.
Amended 7 timesExpenditure excluded from section 200B.
Amended 7 timesOther work-related training.
Amended 7 timesEducation and training funded by employers.
Amended 7 timesSection 200E: exclusion of expenditure not directly related to training.
Amended 7 timesSection 200E: exclusion of expenditure if contributions not generally available to staff.
Amended 7 timesSection 200E: exclusion of expenditure otherwise relieved.
Amended 7 timesEducation or training funded by third parties.
Amended 7 timesExpenses of members of Scottish Parliament, National Assembly for Wales or Northern Ireland Assembly.
Amended 7 timesDonations to charity: payroll deduction scheme.
Amended 7 timesAssessment on receipts basis.
Amended 7 timesReceipts basis: meaning of receipt.
Amended 7 timesPay as you earn.
Amended 10 timesP.A.Y.E.: meaning of payment.
Amended 10 timesPAYE: payment by intermediary.
Amended 10 timesPAYE: employee of non-UK employer.
Amended 10 timesPAYE: employee non-resident, etc.
Amended 10 timesPAYE: mobile UK workforce.
Amended 10 timesPAYE: tradeable assets.
Amended 10 timesPAYE: enhancing the value of an asset.
Amended 10 timesPAYE: gains from share options etc.
Amended 10 timesPAYE: non-cash vouchers.
Amended 10 timesPAYE: credit-tokens.
Amended 10 timesPAYE: cash vouchers.
Amended 10 timesS.203B to s.203I: accounting for tax.
Amended 10 timesTrading arrangements.
Amended 10 timesS.203B to s.203K: interpretation, etc.
Amended 10 timesP.A.Y.E repayments.
Amended 3 timesAssessments unnecessary in certain circumstances.
Amended 2 timesAdditional provision for certain assessments.
Amended 2 timesPAYE settlement agreements.
Amended 2 timesDisputes as to domicile or ordinary residence.
Amended 3 timesBrowse 39 other sections in this Part — procedural / definitional / commencement
Voluntary pensions.
Occupation of Chevening House.
Income support etc.
Jobseeker’s allowance.
Director’s tax paid by employer.
Notice of nil liability under this Chapter.
Interpretation.
Persons who may apply for registration.
Excluded employments.
Change of scheme employer.
Death of scheme employer.
Alteration of scheme’s terms.
Partnerships.
Job release scheme allowances not to be treated as income.
Removal expenses and benefits.
Removal benefits: beneficial loan arrangements.
Other foreign travel expenses.
Travel expenses of employees not domiciled in the United Kingdom.
Foreign pensions.
Leave travel facilities for the armed forces.
Car parking facilities
Works bus services.
Support for public transport road services.
Provision of cycle or cyclist’s safety equipment.
Mileage allowance payments
Passenger payments
Mileage allowance relief
Giving effect to mileage allowance relief
Interpretation of sections 197AD to 197AG
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
Definition of mileage profit.
Definition of taxed mileage profit.
Exception from section 197B.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
Sporting and recreational facilities.
Expenses necessarily incurred and defrayed from official emoluments.
Fees and subscriptions to professional bodies, learned societies etc.
Expense of entertainers.
Employee liabilities and indemnity insurance.
Part VI — COMPANY DISTRIBUTIONS, TAX CREDITS ETC
Application of lower rate to company distributions.
Amended 3 timesU.K. company distributions not generally chargeable to corporation tax.
Amended 5 timesMeaning of “distribution”.
Amended 22 timesSection 209(3AA): link to shares of company or associated company
Amended 22 timesSection 209(3AA): hedging arrangements
Amended 22 timesBonus issue following repayment of share capital.
Amended 2 timesInterest etc. paid in respect of certain securities.
Amended 9 timesExempt distributions.
Amended 3 timesExempt distributions: division of business
Amended 3 timesChargeable payments connected with exempt distributions.
Amended 10 timesAdvance clearance by Board of distributions and payments.
Amended 3 timesInformation.
Amended 4 timesInterpretation of sections 213 to 217.
Amended 3 timesConditions as to residence and period of ownership.
Amended 4 timesReduction of vendor’s interest as shareholder.
Amended 1 timeReturns and information.
Amended 2 timesAssociated persons.
Amended 4 timesOther interpretative provisions.
Amended 2 timesStock dividends: distributions.
Amended 2 timesDividend or bonus granted by industrial and provident society
Amended 2 timesTax credits for certain recipients of qualifying distributions.
Amended 39 timesRestrictions on the use of tax credits by pension funds.
Amended 39 timesNo tax credit for borrower under stock lending arrangement or interim holder under repurchase agreement.
Amended 39 timesNo tax credit for original owner under repurchase agreement in respect of certain manufactured dividends.
Amended 39 timesConsequences of certain arrangements to pass on the value of a tax credit.
Amended 39 timesTax credits for non-U.K. residents.
Amended 3 timesTaxation of certain recipients of distributions and in respect of non-qualifying distributions.
Amended 18 timesInformation relating to distributions.
Amended 11 timesInformation relating to distributions: further provisions.
Amended 11 timesDistributions of exempt funds etc.
Amended 1 timeProvisions supplementary to section 235.
Amended 4 timesDisallowance of reliefs in respect of bonus issues.
Amended 3 timesInterpretation of terms and collection of ACT.
Amended 7 timesSet-off of ACT against liability to corporation tax.
Amended 4 timesSet-off of company’s surplus ACT against subsidiary’s liability to corporation tax.
Amended 3 timesCalculation of ACT where company receives franked investment income.
Amended 5 timesSet-off of losses etc. against surplus of franked investment income.
Amended 16 timesSet-off of loss brought forward, or terminal loss.
Amended 4 timesCalculation etc. of ACT on change of ownership of company.
Amended 3 timesRestriction on application of section 240 in certain circumstances.
Amended 3 timesRestriction on set-off where asset transferred after change in ownership of company.
Amended 3 timesCharge of ACT at previous rate until new rate fixed, and changes of rate.
Amended 8 timesElection by company paying dividend.
Amended 8 timesProcedure for making election.
Amended 8 timesNo tax credit for recipient.
Amended 8 timesIndividuals etc.
Amended 8 timesForeign income dividend not franked payment.
Amended 8 timesCalculation of ACT where company receives foreign income dividend.
Amended 8 timesInformation relating to foreign income dividends.
Amended 8 timesPower of inspector to require information.
Amended 8 timesForeign source profit and distributable foreign profit.
Amended 8 timesMatching of dividend with distributable foreign profit.
Amended 8 timesMatching: subsidiaries.
Amended 8 timesRequirement as to subsidiaries.
Amended 8 timesMatching: further provisions.
Amended 8 timesACT to be repaid or set off against corporation tax liability.
Amended 8 timesNotional foreign source advance corporation tax.
Amended 8 timesRepayment or set-off: supplementary.
Amended 8 timesSupplementary claims.
Amended 8 timesInternational headquarters companies.
Amended 8 timesLiability to pay ACT displaced.
Amended 8 timesSettlement of liability by IHC as to ACT.
Amended 8 timesSettlement of liability by non-IHC as to ACT.
Amended 8 timesPayments and repayments where further matching takes place.
Amended 8 timesAdjustments where profits or foreign tax altered.
Amended 8 timesApplication of this Chapter.
Amended 8 timesDividends etc. paid by one member of a group to another.
Amended 20 timesProvisions supplementary to section 247.
Amended 3 timesStock dividends treated as income.
Amended 17 timesReturns.
Amended 4 timesInterpretation of sections 249 and 250.
Amended 3 timesApplication of sections 251B and 251C
Amended 3 timesTreatment of cash dividend retained and then later paid out
Amended 3 timesCharge on dividend shares ceasing to be subject to plan
Amended 3 timesInterpretation of sections 251A to 251C
Amended 3 timesRectification of excessive set-off etc. of ACT or tax credit.
Amended 5 timesPower to modify or replace section 234(5) to (9) and Schedule 13.
Amended 4 timesInterpretation of Part VI.
Amended 2 times“Gross rate” and “gross amount” of distributions to include ACT.
Amended 1 timeBrowse 9 other sections in this Part — procedural / definitional / commencement
Matters to be treated or not to be treated as repayments of share capital.
Returns.
Purchase by unquoted trading company of own shares.
Conditions applicable where purchasing company is member of group.
Other conditions.
Relaxation of conditions in certain cases.
Advance clearance of payments by Board.
Connected persons.
Further provisions relating to claims under section 242 or 243.
Part VII — GENERAL PROVISIONS RELATING TO TAXATION OF INCOME OF INDIVIDUALS
General.
Amended 15 timesMeaning of “adjusted net income”
Amended 15 timesMeaning of “the minimum amount”
Amended 15 timesPersonal allowance.
Amended 95 timesMarried couple’s allowance.
Amended 95 timesChildren’s tax credit.
Amended 95 timesMarried couple's allowance (post-5th December 2005 marriages and civil partnerships etc.)
Amended 95 timesTransfer of relief under section 257A.
Amended 95 timesElections as to transfer of relief under section 257A or 257AB.
Amended 95 timesTransfer of relief under section 257A where relief exceeds income or 257AB.
Amended 95 timesIndexation of amounts in sections 256B, 257, 257A and 257AB.
Amended 95 timesTransitional relief: husband with excess allowances.
Amended 95 timesTransitional relief: the elderly.
Amended 95 timesTransitional relief: separated couples.
Amended 95 timesWidower’s or widow’s housekeeper.
Amended 1 timeAdditional relief in respect of children.
Amended 16 timesApportionment of relief under section 259.
Amended 3 timesClaims under section 259 for year of marriage.
Amended 2 timesAdditional relief in respect of children for year of separation.
Amended 2 timesWidow’s bereavement allowance.
Amended 9 timesDependent relatives.
Amended 1 timeClaimant depending on services of a son or daughter.
Amended 1 timeBlind person’s allowance.
Amended 53 timesLife assurance premiums.
Amended 36 timesLife assurance premiums paid by employer
Amended 36 timesEarly conversion or surrender of life policies.
Amended 1 timeProvisions supplementary to sections 268 and 269.
Amended 1 timeDeemed surrender in cases of certain loans.
Amended 5 timesCollection of sums payable under sections 268 and 269.
Amended 1 timePayments securing annuities.
Amended 11 timesLimits on relief under section 266.
Amended 9 timesMeaning of “relative”.
Amended 1 timeEffect on relief of charges on income.
Amended 2 timesPartners.
Amended 7 timesNon-residents.
Amended 16 timesAggregation of wife’s income with husband’s.
Amended 2 timesTransfer of reliefs.
Amended 2 timesTax repayments to wives.
Amended 2 timesConstruction of references to spouses or civil partners living together.
Amended 6 timesJointly held property.
Amended 6 timesJointly held property: declarations.
Amended 6 timesOption for separate assessment.
Amended 1 timeEffect of separate assessment on personal reliefs.
Amended 2 timesElections under section 287.
Amended 4 timesEligibility for relief.
Amended 51 timesForm of relief.
Amended 51 timesAttribution of relief to shares.
Amended 51 timesMinimum and maximum subscriptions.
Amended 5 timesRestriction of relief where amounts raised exceed permitted maximum.
Amended 5 timesIndividuals qualifying for relief.
Amended 10 timesConnected persons: directors.
Amended 10 timesConnected persons: persons interested in capital etc. of company.
Amended 10 timesParallel trades.
Amended 4 timesQualifying companies.
Amended 38 timesCompanies with interests in land.
Amended 3 timesValuation of interests in land for purposes of section 294(1)(b).
Amended 1 timeSection 294 disapplied where amounts raised total £50,000 or less.
Amended 2 timesQualifying trades.
Amended 24 timesProvisions supplementary to sections 293 and 297.
Amended 10 timesDisposal of shares.
Amended 18 timesLoan linked investments.
Amended 18 timesPre-arranged exits.
Amended 18 timesValue received from company.
Amended 13 timesReceipt of replacement value
Amended 13 timesProvisions supplementary to section 300.
Amended 8 timesReceipts of insignificant value: supplementary provision
Amended 8 timesReplacement capital.
Amended 7 timesValue received by persons other than claimants.
Amended 26 timesRestriction on withdrawal of relief under section 303.
Amended 26 timesInsignificant repayments disregarded for purposes of s.303(1)
Amended 26 timesSpouses and civil partners.
Amended 8 timesAcquisition of share capital by new company.
Amended 8 timesReorganisation of share capital.
Amended 7 timesRelief for loss on disposal of shares.
Amended 7 timesClaims.
Amended 24 timesWithdrawal of relief.
Amended 22 timesApplication to subsidiaries.
Amended 23 timesFurther provisions as to subsidiaries.
Amended 2 timesInformation.
Amended 29 timesNominees, bare trustees and approved investment funds.
Amended 3 timesInterpretation of Chapter III.
Amended 51 timesTaxation of consideration for certain restrictive undertakings.
Amended 1 timeDivers and diving supervisors.
Amended 2 timesWounds and disability pensions.
Amended 4 timesOther pensions in respect of death due to war service etc.
Amended 1 timeCrown servants: foreign service allowance.
Amended 5 timesCommonwealth Agents-General and official agents etc.
Amended 1 timeConsuls and other official agents.
Amended 1 timeConsular officers and employees.
Amended 7 timesVisiting forces.
Amended 11 timesDesignated international organisations.
Amended 1 timeInterest on deposits with National Savings Bank.
Amended 2 timesInterest etc. under contractual savings schemes.
Amended 20 timesTax-exempt special savings accounts.
Amended 20 timesLoss of exemption for special savings accounts.
Amended 20 timesFollow-up TESSAs.
Amended 20 timesTax-exempt special savings accounts: supplementary.
Amended 20 timesTax-exempt special savings accounts: tax representatives.
Amended 20 timesDisabled person’s vehicle maintenance grant.
Amended 1 timePayments to adopters
Amended 1 timeFunds in court.
Amended 1 timeCompensation for National-Socialist persecution.
Amended 1 timeScholarship income.
Amended 1 timeStudent loans: certain interest to be disregarded.
Amended 1 timeExpenditure and houses of ministers of religion.
Amended 12 timesVenture capital trusts: relief.
Amended 12 timesInvestment plan regulations
Amended 7 timesPersonal equity plans: tax representatives.
Amended 7 timesInvolvement of insurance companies with plans and accounts.
Amended 7 timesCommonwealth citizens and others temporarily abroad.
Amended 1 timeResidence of persons working abroad.
Amended 1 timeTemporary residents in the United Kingdom.
Amended 14 timesBrowse 13 other sections in this Part — procedural / definitional / commencement
Qualifying policies.
Surrender etc. of policies after four years.
Collection from wife of tax assessed on husband but attributable to her income.
Right of husband to disclaim liability for tax on deceased wife’s income.
Separate taxation of wife’s earnings.
Allowances, bounties and gratuities.
Victoria Cross and other awards.
Interest on damages for personal injuries.
Annuities purchased for certain persons.
Personal injury damages in the form of periodical payments.
Compensation for personal injury under statutory or other schemes.
Annuities assigned in favour of certain persons.
Annuities: criminal injuries.
Part VIII — TAXATION OF INCOME AND CHARGEABLE GAINS OF COMPANIES
Company beginning or ceasing to carry on trade
Amended 11 timesComputation of company’s profits or income: exclusion of general deductions
Amended 11 timesCharges on income deducted from total profits
Amended 19 timesMeaning of “charges on income"
Amended 19 timesCharges on income: annuities or other annual payments
Amended 19 timesCharges on income: donations to charity.
Amended 33 timesMaximum qualifying donations.
Amended 33 timesCharges on income: interest payable to non-residents.
Amended 1 timePayments of interest etc. between related companies.
Amended 1 timeTax on company in liquidation.
Amended 8 timesTax on companies in administration
Amended 8 timesCompany reconstructions without a change of ownership.
Amended 27 timesCompany reconstructions involving business of leasing plant or machinery
Amended 27 timesTransfers of trade to obtain balancing allowances
Amended 27 timesCompany reconstructions: supplemental.
Amended 2 timesComputation of chargeable gains.
Amended 1 timeBrowse 2 other sections in this Part — procedural / definitional / commencement
Part IX — ANNUAL PAYMENTS AND INTEREST
Payments out of profits or gains brought into charge to income tax: deduction of tax.
Amended 15 timesPayments not out of profits or gains brought into charge to income tax, and annual interest.
Amended 66 timesExceptions to section 349 for payments between companies etc
Amended 66 timesThe conditions mentioned in section 349A(1)
Amended 66 timesDirections disapplying section 349A(1)
Amended 66 timesSection 349A(1): consequences of reasonable but incorrect belief
Amended 66 timesDeductions under section 349(1): payment of royalties overseas
Amended 66 timesExtension of section 349: proceeds of sale of UK patent rights
Amended 66 timesCharge to tax where payments made under section 349.
Amended 8 timesUK public revenue dividends: deduction of tax.
Amended 8 timesSmall maintenance payments.
Amended 2 timesCertificates of deduction of tax.
Amended 3 timesGeneral provision.
Amended 32 timesLoans to buy land etc.
Amended 6 timesMatters excluded from section 354.
Amended 15 timesJob-related accommodation.
Amended 6 timesLimit on relief for home loans: residence basis.
Amended 6 timesResidence basis: married couples.
Amended 6 timesPayments to which sections 356A and 356B apply.
Amended 6 timesProvisions supplementary to sections 356A to 356C.
Amended 6 timesLimit on amount of loan eligible for relief by virtue of section 354.
Amended 6 timesSubstitution of security.
Amended 6 timesTreatment of loans following security substitution.
Amended 6 timesSubstitution of security: supplemental.
Amended 6 timesRelief where borrower deceased.
Amended 3 timesLoan to buy machinery or plant.
Amended 9 timesLoan to buy interest in close company.
Amended 10 timesMeaning of “material interest” in section 360.
Amended 10 timesLoan to buy interest in co-operative or employee-controlled company.
Amended 5 timesLoan to buy into partnership.
Amended 4 timesProvisions supplementary to sections 360 to 362.
Amended 1 timeLoan to pay inheritance tax.
Amended 1 timeLoan to buy life annuity.
Amended 9 timesInformation.
Amended 2 timesProvisions supplementary to sections 354 to 366.
Amended 16 timesAlternative finance arrangements
Amended 16 timesExclusion of double relief etc.
Amended 11 timesMortgage interest payable under deduction of tax.
Amended 24 timesRelevant loan interest.
Amended 22 timesSecond loans.
Amended 1 timeHome improvement loans.
Amended 1 timeLoans in excess of the qualifying maximum, and joint borrowers.
Amended 9 timesConditions for application of section 369.
Amended 2 timesInterest which never has been relevant loan interest etc.
Amended 2 timesInterest ceasing to be relevant loan interest, etc.
Amended 9 times- Notify lender when loan interest ceases to be qualifying Any Person
Option to deduct interest for the purposes of Schedule A.
Amended 9 timesQualifying borrowers and qualifying lenders.
Amended 21 timesThe register of qualifying lenders.
Amended 21 timesOther duties (1) — Crown / regulator
- HMRC must maintain and publish a register of qualifying lenders Statutory regulator
Variation of terms of repayment of certain loans.
Amended 3 timesSupplementary regulations.
Amended 5 timesIn sections 369 to 378— “contracts of general insurance” means...
Amended 5 timesBrowse 2 other sections in this Part — procedural / definitional / commencement
General rule.
Qualifying maintenance payments.
Part X — LOSS RELIEF AND GROUP RELIEF
Losses from UK property business.
Amended 5 timesLosses from overseas property business.
Amended 5 timesSet-off against general income.
Amended 14 timesFurther relief for individuals for losses in early years of trade.
Amended 11 timesProvisions supplementary to sections 380 and 381.
Amended 7 timesExtension of right of set-off to capital allowances.
Amended 7 timesRestrictions on right of set-off.
Amended 15 timesRestriction of set-off of allowances against general income
Amended 15 timesCarry-forward against subsequent profits.
Amended 14 timesCarry-forward where business transferred to a company.
Amended 4 timesCarry-forward as losses of amounts taxed under section 350.
Amended 5 timesCarry-back of terminal losses.
Amended 14 timesSupplementary provisions relating to carry-back of terminal losses.
Amended 11 timesTreatment of interest as a loss for purposes of carry-forward and carry-back.
Amended 2 timesLosses from trade etc. carried on abroad
Amended 2 timesLosses from miscellaneous transactions
Amended 7 timesUK property business losses
Amended 7 timesLosses from overseas property business.
Amended 7 timesLosses other than terminal losses.
Amended 20 timesLosses: set off against profits of the same, or an earlier, accounting period.
Amended 20 timesLosses of ring fence trade: set off against profits of an earlier accounting period
Amended 20 timesTerminal losses.
Amended 1 timeLeasing contracts and company reconstructions.
Amended 8 timesLosses from miscellaneous transactions
Amended 14 timesRestriction of relief in case of farming and market gardening.
Amended 43 timesTransactions in deposits with and without certificates or in debts.
Amended 13 timesDealings in commodity futures etc: withdrawal of loss relief.
Amended 20 timesWrite-off of government investment.
Amended 43 timesRelief for pre-trading expenditure.
Amended 19 timesSurrender of relief between members of groups and consortia.
Amended 13 timesLosses etc. which may be surrendered by way of group relief.
Amended 19 timesLimits on group relief.
Amended 19 timesApportionments under section 403A.
Amended 19 timesAmount of relief in consortium cases.
Amended 19 timesRelief for or in respect of UK losses of non-resident companies
Amended 19 timesRelief for overseas losses of UK resident companies.
Amended 19 timesRelief in respect of overseas losses of non-resident companies
Amended 19 timesUnallowable overseas losses of non-resident companies
Amended 19 timesAmounts eligible for group relief: trading losses.
Amended 19 timesAmounts eligible for group relief: excess capital allowances.
Amended 19 timesAmounts eligible for group relief: non-trading deficit on loan relationships.
Amended 19 timesOther amounts available by way of group relief.
Amended 19 timesComputation of gross profits.
Amended 19 timesLimitation of group relief in relation to certain dual resident companies.
Amended 15 timesClaims relating to losses etc. of members of both group and consortium.
Amended 1 timeClaims relating to losses etc. of consortium company or group member.
Amended 6 timesRelationship between group relief and other relief.
Amended 11 timesCorresponding accounting periods.
Amended 1 timeCompanies joining or leaving group or consortium.
Amended 3 timesArrangements for transfer of company to another group or consortium.
Amended 12 timesExclusion of double allowances.
Amended 4 timesGroup relief by way of substitution for loss relief.
Amended 4 timesNo relief where deduction of relevant return under alternative finance arrangements disallowed
Amended 4 timesClaims and adjustments.
Amended 4 timesInterpretation of Chapter IV.
Amended 12 timesPart XI — CLOSE COMPANIES
Close companies.
Amended 9 timesCertain quoted companies not to be close companies.
Amended 3 timesMeaning of “associated company” and “control”.
Amended 10 timesMeaning of “participator”, “associate”, “director” and “loan creditor”.
Amended 7 times“Distribution” to include certain expenses of close companies.
Amended 6 timesLoans to participators etc.
Amended 14 timesExceptions from section 419.
Amended 1 timeTaxation of borrower when loan under section 419 released etc
Amended 17 timesBrowse 9 other sections in this Part — procedural / definitional / commencement
Extension of section 419 to loans by companies controlled by close companies.
Apportionment of certain income, deductions and interest.
Exclusions from section 423.
Manner of apportionment.
Charge to income tax where apportionment is to an individual.
Reduction of charge under section 426 in certain cases.
Increase of apportioned sum etc. by reference to ACT.
Payment and collection of income tax.
Consequences of apportionment: ACT.
Part XII — SPECIAL CLASSES OF COMPANIES AND BUSINESSES
Interpretative provisions relating to insurance companies.
Amended 115 timesAmendment of Chapter etc
Amended 115 timesRelevant benefits for purposes of section 431(4)(d) and (e).
Amended 115 timesMeaning of “pension business”.
Amended 115 timesMeaning of “child trust fund business”
Amended 115 timesMeaning of “individual savings account business”
Amended 115 timesMeaning of “life reinsurance business”.
Amended 115 timesMeaning of “overseas life assurance business”.
Amended 115 timesOverseas life assurance business: regulations.
Amended 115 timesMeaning of “gross roll-up business”
Amended 115 timesMeaning of “basic life assurance and general annuity business”.
Amended 115 timesCompany carrying on life assurance business
Amended 115 timesCompany carrying on life assurance business and other insurance business
Amended 115 timesElection that assets not be foreign business assets
Amended 115 timesSeparation of different categories of business.
Amended 8 timesApportionment of income and gains.
Amended 8 timesUK property business or overseas property business
Amended 8 timesLosses from UK property business or overseas property business.
Amended 8 timesApportionment of receipts brought into account.
Amended 8 timesSection 432B apportionment: non-participating funds
Amended 8 timesApportionment of asset value increase where line 51 amount decreases
Amended 8 timesTransfers of business involving excess assets
Amended 8 timesSection 432B apportionment: value of non-participating funds.
Amended 8 timesSection 432B apportionment: participating funds.
Amended 8 timesSection 432B apportionment: supplementary provisions.
Amended 8 timesSection 432B apportionment: business transfers-in
Amended 8 timesPHI business other than life assurance business — adjustment consequent on change in Insurance Prudential Sourcebook
Amended 8 timesLinked assets.
Amended 8 timesProfits reserved for policy holders and annuitants.
Amended 1 timeFranked investment income etc.
Amended 46 timesComputation of losses and limitation on relief.
Amended 46 timesReduced loss relief for additions to non-profit funds
Amended 46 timesAdditions to non-profit funds: amount of loss reduction
Amended 46 timesSections 434AZA and 434AZB: supplementary
Amended 46 timesTreatment of interest and annuities.
Amended 46 timesInterest on repayment of advance corporation tax.
Amended 46 timesCapital allowances: management assets.
Amended 46 timesCapital allowances: investment assets.
Amended 46 timesTaxation of gains reserved for policy holders and annuitants.
Amended 1 timePension business: separate charge on profits.
Amended 31 timesGross roll-up business: separate charge on profits
Amended 31 timesGains referable to gross roll-up business not to be chargeable gains
Amended 31 timesGeneral annuity business.
Amended 20 timesMeaning of “steep-reduction annuity” etc.
Amended 20 timesPension business: exemption from tax.
Amended 31 timesPension business: payments on account of tax credits and deducted tax.
Amended 31 timesIncome or gains arising from property investment LLP
Amended 31 timesDetermination of policy holders’ share for purposes of s.438B
Amended 31 timesRestricted government securities.
Amended 7 timesTaxation of pure reinsurance business.
Amended 7 timesLife reinsurance business: separate charge on profits.
Amended 7 timesTransfers of assets etc.
Amended 53 timesSecurities.
Amended 53 timesModifications where tax charged under section 35 of CTA 2009.
Amended 53 timesModifications for change of tax basis
Amended 53 timesModifications in relation to BLAGAB group reinsurers
Amended 53 timesOverseas life assurance business.
Amended 17 timesSection 441: distributions.
Amended 17 timesTreatment of UK land.
Amended 17 timesOverseas business of U.K. companies.
Amended 7 timesTaxation of investment return where risk reinsured.
Amended 7 timesLife policies carrying rights not in money.
Amended 1 timeLife policies issued before 5th August 1965.
Amended 1 timeTransfers of business.
Amended 1 timeTransfers of business: deemed periodical returns
Amended 1 timeTransfer schemes: transferor
Amended 1 timeNon long-term fund transferred assets
Amended 1 timeNon-profit fund transferred assets
Amended 1 timeRetained assets
Amended 1 timeTransfers of business: election for transferee to pay tax of transferor
Amended 1 timeTransfer scheme transferring part of business: transferor
Amended 1 timeTransferor's period of account including transfer
Amended 1 timeTransfer schemes: reduction of income of transferee
Amended 1 timeTransfers of business: transferor shares are assets of transferee's long-term insurance fund etc
Amended 1 timeTransfer schemes transferring part of business: reduction in income of transferee
Amended 1 timeTransfers of business: modification of s.83(2B) FA 1989
Amended 1 timeTransfers of business: FAFTS
Amended 1 timeTransfer schemes: anti-avoidance rule
Amended 1 timeLife assurance trade profits advantage: transferor
Amended 1 timeLife assurance trade profits advantage: transferee
Amended 1 timeParts of transfer scheme arrangements: anti-avoidance rule
Amended 1 timeParts of transfer scheme arrangements: life assurance trade profits advantage transferor
Amended 1 timeParts of transfer scheme arrangements: life assurance trade profits advantage transferee
Amended 1 timeClearance: no avoidance or group advantage
Amended 1 timeDemutualisation surplus: life assurance business
Amended 1 timeSection 444AF: “demutualisation transfer surplus”
Amended 1 timeModification of section 444AG etc for gross roll-up businesses
Amended 1 timeSection 444AF: “reduction in company's unappropriated surplus”
Amended 1 timeSections 444AF and 444AK: “relevant receipts reduction”
Amended 1 timeMutual surplus: gross roll-up business
Amended 1 timeInterpretation of sections 444AF to 444AK
Amended 1 timeTransfers of life assurance business: gross roll-up business losses of the transferor
Amended 1 timeTransfers of life assurance business: trade losses of the transferor
Amended 1 timeModification of Act in relation to overseas life insurance companies.
Amended 1 timeEqualisation reserves for general business.
Amended 1 timeModification of s. 444BA for mutual or overseas business and for non-resident companies.
Amended 1 timeModification of s. 444BA for non-annual accounting etc.
Amended 1 timeApplication of s. 444BA rules to other equalisation reserves.
Amended 1 timeModification of section 440.
Amended 1 timeQualifying distributions, tax credits, etc.
Amended 1 timeIncome from investments attributable to BLAGAB, etc.
Amended 1 time. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
Amended 2 timesAnnuity business.
Amended 5 timesSet-off of income tax and tax credits against corporation tax.
Amended 7 timesQualifying distributions and tax credits.
Amended 2 timesDouble taxation agreements.
Amended 1 time. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
Amended 9 times. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
Amended 5 timesSpecial reserve funds.
Amended 3 timesCapital redemption business.
Amended 14 timesCapital redemption business: power to apply life assurance provisions.
Amended 14 timesExemption from tax.
Amended 3 timesExemption from tax in respect of life or endowment business.
Amended 46 timesTaxation in respect of other business.
Amended 22 timesTaxation in respect of other business: incorporated friendly societies qualifying for exemption.
Amended 22 timesTaxation in respect of other business: incorporated friendly societies etc.
Amended 22 timesTaxation in respect of other business: withdrawal of “qualifying” status from incorporated friendly society.
Amended 22 timesTransfers of other business
Amended 22 timesConditions for tax exempt business.
Amended 10 timesElection as to tax exempt business.
Amended 10 timesLong-term business: application of the Corporation Tax Acts.
Amended 11 timesMaximum benefits payable to members.
Amended 24 timesOld societies.
Amended 4 timesAssets of branch of registered friendly society to be treated as assets of society after incorporation.
Amended 4 timesInterpretation of Chapter II.
Amended 30 timesExemption for trade unions and employers’ associations.
Amended 18 timesCertified unit trusts.
Amended 23 timesAuthorised unit trusts.
Amended 23 timesOpen-ended investment companies
Amended 23 timesAuthorised unit trusts: futures and options.
Amended 23 timesCertified unit trusts: corporation tax.
Amended 23 timesCertified unit trusts: distributions.
Amended 23 timesFunds of funds: distributions.
Amended 23 timesAuthorised unit trusts: corporation tax.
Amended 23 timesCorporation tax: cases where lower rate applies.
Amended 23 timesAuthorised unit trusts: distributions.
Amended 23 times[Dividends paid to investment trusts.
Amended 23 timesInterpretation.
Amended 23 timesDistribution accounts.
Amended 23 timesDividend distributions.
Amended 23 timesForeign income distributions.
Amended 23 timesInterest distributions.
Amended 23 timesCases where no obligation to deduct tax
Amended 23 timesDeduction of tax (mixed funds).
Amended 23 timesResidence condition and reputable intermediary condition.
Amended 23 timesResidence declarations.
Amended 23 timesSection 468O(1A): consequences of reasonable but incorrect belief
Amended 23 timesRegulations supplementing sections 468M to 468PA
Amended 23 timesDividend distribution to corporate unit holder.
Amended 23 timesForeign income distribution to corporate unit holder.
Amended 23 timesOther unit trusts.
Amended 27 timesCourt common investment funds.
Amended 27 timesTransitional provisions relating to unit trusts.
Amended 3 timesExchange of securities in connection with conversion operations, nationalisation etc.
Amended 4 timesDistribution of securities issued in connection with nationalisation etc.
Amended 4 timesTrading profits etc. from securities: taxation of amounts taken to reserves
Amended 4 timesConversion etc. of securities held as circulating capital.
Amended 19 timesTreatment of tax-free income.
Amended 6 timesTax-free Treasury securities: exclusion of interest on borrowed money.
Amended 18 timesBuilding societies: regulations for payment of tax.
Amended 2 timesInvestments becoming or ceasing to be relevant building society investments.
Amended 1 timeBuilding societies: regulations for deduction of tax.
Amended 1 timeBuilding societies: incidental costs of issuing qualifying shares.
Amended 1 timeBuilding societies: time for payment of tax.
Amended 2 timesInterest paid on deposits with banks etc.
Amended 1 timeDeposits becoming or ceasing to be composite rate deposits.
Amended 1 timeRelevant deposits: deduction of tax from interest payments.
Amended 1 timeRelevant deposits: exception from section 480A.
Amended 1 timeRelevant deposits: computation of tax on interest.
Amended 1 time“Deposit-taker”, “deposit” and “relevant deposit”.
Amended 30 timesSupplementary provisions.
Amended 17 timesAudit powers in relation to non-residents.
Amended 17 timesDetermination of reduced rate for building societies and composite rate for banks etc.
Amended 1 timeSavings banks: exemption from tax.
Amended 2 timesSavings banks: supplemental.
Amended 1 timeIndustrial and provident societies and co-operative associations.
Amended 22 timesCredit unions.
Amended 9 timesCo-operative housing associations.
Amended 23 timesSelf-build societies.
Amended 12 timesCompanies carrying on a mutual business or not carrying on a business.
Amended 10 timesDistribution of assets of body corporate carrying on mutual business.
Amended 17 timesTreatment of oil extraction activities etc. for tax purposes.
Amended 19 timesValuation of oil disposed of or appropriated in certain circumstances.
Amended 10 timesLoan relationships etc.
Amended 38 timesComputation of amount available for surrender by way of group relief.
Amended 38 timesSale and lease-back.
Amended 38 timesRegional development grants.
Amended 13 timesTariff receipts and tax-exempt tariffing receipts
Amended 8 timesExploration expenditure supplement
Amended 8 timesRing fence expenditure supplement
Amended 8 timesRestriction on setting ACT against income from oil extraction activities etc.
Amended 7 timesLimited right to carry back surrendered ACT.
Amended 1 timeSurrender of ACT where oil extraction company etc. owned by a consortium.
Amended 1 timeDeduction of PRT in computing income for corporation tax purposes.
Amended 6 timesInterpretation of Chapter V.
Amended 13 timesScope of Chapter 5A
Amended 13 timesLessor under long funding finance lease: rental earnings
Amended 13 timesLessor under long funding finance lease: exceptional items
Amended 13 timesLessor under long funding finance lease making termination payment
Amended 13 timesLessor under long funding operating lease: periodic deduction
Amended 13 timesLong funding operating lease: lessor's additional expenditure
Amended 13 timesLessor under long funding operating lease: termination of lease
Amended 13 timesCases where ss. 502B to 502G do not apply: plant or machinery held as trading stock
Amended 13 timesCases where ss. 502B to 502G do not apply: lessor also lessee under non-long funding lease
Amended 13 timesCases where ss. 502B to 502G do not apply: other avoidance
Amended 13 timesCases where ss 502B to 502G do not apply: films
Amended 13 timesInsurance company as lessor
Amended 13 timesLessee under long funding finance lease: limit on deductions
Amended 13 timesLessee under long funding finance lease: termination
Amended 13 timesLessee under long funding operating lease
Amended 13 timesInterpretation of this Chapter
Amended 13 timesLetting of furnished holiday accommodation treated as a trade for certain corporation tax purposes.
Amended 22 timesSupplementary provisions.
Amended 16 timesLetting of furnished holiday accommodation treated as trade for certain income tax purposes
Amended 16 timesCharitable companies: general.
Amended 76 timesCharitable and non-charitable expenditure
Amended 16 timesTransactions with substantial donors
Amended 16 timesSection 506A: exceptions
Amended 16 timesSections 506A and 506B: supplemental
Amended 16 timesThe National Heritage Memorial Fund, the Historic Buildings and Monuments Commission for England and the British Museum.
Amended 9 timesScientific research organisations.
Amended 8 timesInvestment trusts investing in housing.
Amended 8 timesInterpretation of section 508A.
Amended 8 timesReserves of marketing boards and certain other statutory bodies.
Amended 3 timesAgricultural societies.
Amended 1 timeEuropean economic interest groupings.
Amended 1 timeThe Electricity Council and Boards, the Northern Ireland Electricity Service and the Gas Council.
Amended 3 timesAtomic Energy Authority and National Radiological Protection Board.
Amended 12 timesBritish Airways Board and National Freight Corporation.
Amended 2 timesFunds for reducing the National Debt.
Amended 1 timeSignatories to Operating Agreement for INMARSAT.
Amended 1 timeGovernment securities held by non-resident central banks.
Amended 3 timesIssue departments of the Reserve Bank of India and the State Bank of Pakistan.
Amended 2 timesHarbour reorganisation schemes.
Amended 5 timesLocal authorities.
Amended 4 timesHealth service bodies.
Amended 4 timesBrowse 10 other sections in this Part — procedural / definitional / commencement
Payments into premiums trust fund on account of losses.
Income tax consequences on payments into and out of special reserve fund.
Income tax consequences on death of underwriter.
Unearned income, variation of arrangements and cancellation of approval etc.
Interpretation of sections 450 to 456.
Interest on repayment of PRT.
Supplementary charge in respect of ring fence trades
Assessment, recovery and postponement of supplementary charge
Contemplative religious communities: profits exempt from corporation tax
Contemplative religious communities: gains exempt from corporation tax
Part XIII — MISCELLANEOUS SPECIAL PROVISIONS
Allowances for expenditure on purchase of patent rights: post-31st March 1986 expenditure.
Amended 3 timesProvisions supplementary to section 520.
Amended 6 timesAllowances for expenditure on purchase of patent rights: pre-1st April 1986 expenditure.
Amended 1 timeTaxation of receipts from sale of patent rights.
Amended 27 timesCapital sums: . . . winding up or partnership change.
Amended 11 timesRelief for expenses.
Amended 7 timesSpreading of royalties over several years.
Amended 4 timesManner of making allowances and charges.
Amended 11 timesPatent income to be earned income in certain cases.
Amended 1 timeDisposal of know-how.
Amended 5 timesProvisions supplementary to section 530.
Amended 21 timesApplication of Capital Allowances Act
Amended 9 timesInterpretation of sections 520 to 532.
Amended 7 timesRelief for copyright payments etc.
Amended 3 timesRelief where copyright sold after ten years or more.
Amended 7 timesTaxation of royalties where owner abroad.
Amended 4 timesPublic lending right.
Amended 3 timesRelief for payments in respect of designs.
Amended 3 timesTaxation of design royalties where owner abroad.
Amended 3 timesRelief for painters, sculptors and other artists.
Amended 2 timesIntroductory.
Amended 16 timesThe conditions for being an excepted group life policy
Amended 16 timesApplication of this Chapter etc. to policies and contracts in which persons other than companies are interested
Amended 16 timesLife policies: chargeable events.
Amended 6 timesLife policies: computation of gain.
Amended 9 timesLife annuity contracts: chargeable events.
Amended 2 timesLife annuity contracts: computation of gain.
Amended 6 timesSecond and subsequent assignment of life policies and contracts.
Amended 2 timesCapital redemption policies.
Amended 3 timesCalculation of certain amounts for purposes of sections 540, 542 and 545.
Amended 4 timesTreatment of certain assignments etc involving co-ownership
Amended 4 timesSpecial provision in respect of certain section 546 excesses
Amended 4 timesCharging the section 546 excess to tax where section 546B applies
Amended 4 timesModifications of s.546C for final year ending with terminal chargeable event
Amended 4 timesMethod of charging gain to tax.
Amended 50 timesMethod of charging gain to tax: multiple interests.
Amended 50 timesDeemed surrender of certain loans.
Amended 7 timesEffect of rebated or reinvested commission in certain cases
Amended 7 timesSection 548A: further definitions
Amended 7 timesCertain deficiencies allowable as deductions.
Amended 11 timesRelief where gain charged at a higher rate.
Amended 6 timesRight of individual to recover tax from trustees.
Amended 3 timesRight of company to recover tax from trustees.
Amended 3 timesInformation: duty of insurers.
Amended 54 timesTax representatives.
Amended 54 times- Appoint a UK tax representative if you are an overseas insurer with £1m+ UK premiums Trader
Duties of overseas insurers’ tax representatives.
Unlimited fine Amended 54 times- Appoint and oversee an overseas insurer’s tax representative Any Person
Information: supplementary provisions
Amended 54 timesRegulations in relation to qualifying policies
Amended 54 timesNon-resident policies and off-shore capital redemption policies.
Amended 15 timesOverseas life assurance business: life policies.
Amended 15 timesOverseas life assurance business: capital redemption policies.
Amended 15 timesPersonal portfolio bonds.
Amended 15 timesBorrowings on life policies to be treated as income in certain cases.
Amended 1 timePayment of tax.
Amended 1 timeActivity treated as trade etc. and attribution of income.
Amended 8 timesCharge on profits.
Amended 6 timesSupplementary provisions.
Amended 2 timesDeductions on account of tax etc. from payments to certain sub-contractors.
Amended 18 timesTreatment of sums deducted under s.559
Amended 18 timesPersons who are sub-contractors or contractors for purposes of Chapter IV.
Amended 12 timesExceptions from section 559.
Amended 12 timesConditions to be satisfied by individuals.
Amended 8 timesConditions to be satisfied by partners who are individuals.
Amended 1 timeConditions to be satisfied by firms.
Amended 3 timesConditions to be satisfied by companies.
Amended 9 timesGeneral powers to make regulations under Chapter IV.
Amended 8 timesMeaning of “construction operations”.
Amended 1 timeDeductions from profits of contributions paid under certified schemes.
Amended 6 timesPayments under certified schemes which are not repayments of contributions.
Amended 7 timesCancellation of certificates.
Amended 4 timesRelief for companies.
Amended 8 timesRelief for individuals.
Amended 12 timesExclusion of relief under section 573 . . . in certain cases.
Amended 13 timesProvisions supplementary to sections 573 and 575.
Amended 33 timesQualifying trading companies
Amended 33 timesThe trading requirement
Amended 33 timesCeasing to meet the trading requirement because of administration or receivership
Amended 33 timesThe control and independence requirement
Amended 33 timesThe qualifying subsidiaries requirement
Amended 33 timesThe property managing subsidiaries requirement
Amended 33 timesThe gross assets requirement
Amended 33 timesThe unquoted status requirement
Amended 33 timesPower to amend requirements by Treasury order
Amended 33 timesRelief after an exchange of shares for shares in another company
Amended 33 timesSubstitution of new shares for old shares
Amended 33 timesInterpretation of Chapter
Amended 33 timesBusiness entertaining expenses.
Amended 41 timesExpenditure involving crime.
Amended 41 timesHousing grants.
Amended 2 timesExpenditure on car hire
Amended 2 timesExpenditure on car hire: supplementary
Amended 2 timesStatutory redundancy payments.
Amended 25 timesProvisions supplementary to section 579.
Amended 8 timesRelief from tax on annual payments under certain insurance policies.
Amended 8 timesMeaning of “self-contained” for the purposes of s.580A.
Amended 8 timesRelief from tax on annual payments under immediate needs annuities
Amended 8 timesBorrowing in foreign currency by local authorities and statutory corporations.
Amended 1 timeInterest on foreign currency securities etc.
Amended 1 timeFunding bonds issued in respect of interest on certain debts.
Amended 15 timesDesignated international organisations: miscellaneous exemptions.
Amended 15 timesInter-American Development Bank.
Amended 1 timeRelief for unremittable overseas income
Amended 18 timesRelief from tax on delayed remittances.
Amended 5 timesDisallowance of deductions for war risk premiums.
Amended 2 timesDisallowance of certain payments in respect of war injuries to employees.
Amended 4 timesNew issues of securities: extra return.
Amended 4 timesGifts of shares, securities and real property to charities etc
Amended 4 timesQualifying interests in land held jointly
Amended 4 timesSupplementary provision for gifts of real property
Amended 4 timesTraining courses for employees.
Amended 22 timesQualifying courses of training etc.
Amended 3 timesCounselling services for employees.
Amended 3 timesQualifying counselling services etc.
Amended 3 timesBrowse 3 other sections in this Part — procedural / definitional / commencement
Part XIV — PENSION SCHEMES, SOCIAL SECURITY BENEFITS, LIFE ANNUITIES ETC.
Conditions for approval of retirement benefit schemes.
Amended 35 timesSection 590: supplementary provisions.
Amended 35 timesSection 590: further supplementary provisions.
Amended 35 timesEarnings cap.
Amended 35 timesDiscretionary approval.
Amended 12 timesEffect on approved schemes of regulations under section 591.
Amended 12 timesCessation of approval: general provisions.
Amended 12 timesCessation of approval: tax on certain schemes.
Amended 12 timesSection 591C: supplementary.
Amended 12 timesExempt approved schemes.
Amended 16 timesExempt statutory schemes.
Amended 7 timesCharge to tax in respect of certain sums paid by employer etc.
Amended 5 timesExceptions from section 595.
Amended 6 timesCharge to tax: benefits under non-approved schemes.
Amended 6 timesSection 596A: supplementary provisions.
Amended 6 timesNotional interest treated as paid if amount charged in respect of beneficial loan.
Amended 6 timesCharge to tax: pensions.
Amended 2 timesCharge to tax: repayment of employee’s contributions.
Amended 4 timesCharge to tax: commutation of entire pension in special circumstances.
Amended 14 timesCharge to tax: payments out of surplus funds.
Amended 14 timesCharge to tax: unauthorised payments to or for employees.
Amended 5 timesCharge to tax: payments to employers.
Amended 3 timesRegulations relating to pension fund surpluses.
Amended 1 timeApplication for approval of a scheme.
Amended 3 timesInformation.
Amended 7 timesFalse statements etc.
Amended 7 timesDefault of administrator etc.
Amended 8 timesRecourse to scheme members.
Amended 8 timesPilots’ benefit fund.
Amended 8 timesSuperannuation funds approved before 6th April 1980.
Amended 4 timesDefinition of “retirement benefits scheme”.
Amended 9 timesDefinition of relevant statutory scheme.
Amended 9 timesDefinition of the administrator.
Amended 9 timesOther interpretative provisions, and regulations for purposes of this Chapter.
Amended 11 timesParliamentary pension funds.
Amended 9 timesExemptions and reliefs in respect of income from investments etc. of certain pension schemes.
Amended 8 timesExemption from tax in respect of certain pensions.
Amended 17 timesOther overseas pensions.
Amended 1 timeSocial security benefits and contributions.
Amended 48 timesTax credits under Part 1 of Tax Credits Act 2002
Amended 48 timesTermination of relief under this Chapter, and transitional provisions.
Amended 2 timesExemption from tax in respect of qualifying premiums.
Amended 2 timesQualifying premiums.
Amended 4 timesOther approved contracts.
Amended 4 timesSubstituted retirement annuity contracts.
Amended 1 timeRelevant earnings.
Amended 13 timesSponsored superannuation schemes and controlling directors.
Amended 2 timesLloyd’s underwriters.
Amended 2 timesPartnership retirement annuities.
Amended 3 timesAnnuity premiums of Ministers and other officers.
Amended 1 timeInterpretation.
Amended 19 timesApproval of schemes.
Amended 4 timesConversion of certain approved retirement benefits schemes.
Amended 4 timesEstablishment of schemes.
Amended 24 timesEligibility to make contributions.
Amended 24 timesEligibility to make contributions: concurrent membership.
Amended 24 timesScope of benefits.
Amended 6 timesAnnuity to member.
Amended 2 timesIncome withdrawals by member.
Amended 2 timesLump sum to member.
Amended 9 timesAnnuity after death of member.
Amended 9 timesIncome withdrawals after death of member.
Amended 9 timesDeath benefit.
Amended 1 timeReturn of contributions on or after death of member.
Amended 1 timeOther restrictions on approval.
Amended 20 timesPower to prescribe restrictions on approval.
Amended 20 timesPersonal pension arrangements with more than one pension date etc.
Amended 20 timesMember’s contributions.
Amended 8 timesMaximum amount of deductions.
Amended 8 timesEarnings cap.
Amended 8 timesCarry-back of contributions.
Amended 3 timesElection for contributions to be treated as paid in previous year.
Amended 3 timesCarry-forward of relief.
Amended 1 timeEmployer’s contributions and personal pension income etc.
Amended 3 timesMeaning of “relevant earnings”.
Amended 22 timesEarnings from pensionable employment.
Amended 12 timesMeaning of “net relevant earnings”.
Amended 13 timesEarnings from associated employments.
Amended 13 timesPresumption of same level of relevant earnings etc for 5 years.
Amended 13 timesProvisions supplementary to section 646B.
Amended 13 timesHigher level contributions after cessation of actual relevant earnings: modification of section 646B.
Amended 13 timesMinimum contributions under Social Security Act 1986.
Amended 13 timesWithdrawal of approval.
Amended 1 timeCharge on withdrawal of approval from arrangements.
Amended 1 timeAppeals.
Amended 1 timeInformation powers.
Amended 1 timeInformation about payments.
Amended 1 timeInformation: penalties.
Amended 1 timeNotices to be given to scheme administrator.
Amended 1 timeRemuneration of Ministers and other officers.
Amended 1 timeTransitional provisions.
Amended 6 timesPurchased life annuities other than retirement annuities.
Amended 6 timesPurchased life annuities to which section 656 applies.
Amended 8 timesSupplementary.
Amended 6 timesCharges and assessments on administrators.
Amended 6 timesFinancial futures and traded options.
Amended 1 timeFutures and options.
Amended 1 timeDefinition of insurance company.
Amended 1 timeEffect of appointment or arrangements under section 659B.
Amended 1 timeInterpretation of provisions about pension sharing.
Amended 1 timeTreatment of income from property investment LLPs
Amended 1 timeBrowse 10 other sections in this Part — procedural / definitional / commencement
Relief by way of deductions from contributions.
Reduction of surpluses.
Schemes approved before 23rd July 1987.
Amendments of schemes.
Carry-forward of unused relief under section 619.
Modification of section 619 in relation to persons over 50.
Unauthorised payments.
Contributions under unapproved arrangements.
Annuities: charge under Schedule E.
Return of contributions after pension date.
Part XV — SETTLEMENTS
Dispositions for period which cannot exceed six years.
Amended 2 timesIncome arising under settlement where settlor retains an interest.
Amended 2 timesPayments to unmarried minor children of settlor.
Amended 2 timesNature of charge on settlor.
Amended 2 timesAdjustments between settlor and trustees, &c.
Amended 2 timesApplication to settlements by two or more settlors.
Amended 2 timesPower to obtain information.
Amended 2 timesMeaning of “settlement” and related expressions.
Amended 2 timesThe general rule.
Amended 2 timesProvisions supplementary to sections 671 to 674.
Amended 3 timesDisallowance of deduction from total income of certain sums paid by settlor.
Amended 1 timeSums paid to settlor otherwise than as income.
Amended 11 timesCapital sums paid by body connected with settlement.
Amended 2 timesInterpretation of Chapter III.
Amended 3 timesAscertainment of undistributed income.
Amended 1 timeSupplementary provisions.
Amended 1 timeSettlements made after 6th April 1965.
Amended 7 timesSettlements made before 7th April 1965 but after 9th April 1946.
Amended 2 timesProvisions supplementary to sections 683 and 684.
Amended 2 timesMeaning of “settled property”
Amended 2 timesMeaning of “settlor”
Amended 2 timesTransfer between settlements: identification of settlor
Amended 2 timesVariation of will or intestacy, etc: identification of settlor
Amended 2 timesTrustees of settlements
Amended 2 timesApplication of section 739 and 740
Amended 2 timesSub-funds
Amended 2 timesAccumulation and discretionary trusts: special rates of tax.
Amended 57 timesReceipts to be treated as income to which section 686 applies
Amended 57 timesShare incentive plans: distributions in respect of unappropriated shares
Amended 57 timesInterpretation of section 686B
Amended 57 timesSpecial trust rates not to apply to first slice of trust income
Amended 57 timesApplication of section 686D where settlor has made more than one settlement
Amended 57 timesPayments under discretionary trusts.
Amended 47 timesDiscretionary payments by trustees to companies.
Amended 47 timesSchemes for employees and directors to acquire shares.
Amended 1 timeRecovery from trustees of discretionary trusts of higher rate tax due from beneficiaries.
Amended 3 timesDisregard of expenses where beneficiary non-resident.
Amended 3 timesOrder in which expenses to be set against income.
Amended 3 timesCertain income not to be income of settlor etc.
Amended 2 timesReimbursement of settlor.
Amended 2 timesTrustees chargeable to income tax in certain cases at higher rate reduced by rate applicable to trusts
Amended 7 timesBrowse 18 other sections in this Part — procedural / definitional / commencement
Adjustments between disponor and trustees.
Application of Chapter I to dispositions by two or more disponors.
Accumulation settlements.
Meaning of “irrevocable”.
Interest paid by trustees.
Adjustments between disponor and trustees.
Application of Chapter II to settlements by two or more settlors.
Power to obtain information under Chapter II.
Interpretation of Chapter II.
Revocable settlements allowing release of obligation.
Revocable settlements allowing reversion of property.
Settlements where settlor retains an interest.
Settlements: discretionary power for benefit of settlor etc.
Other settlements where settlor retains interest in settled property.
Application of Chapter III to settlements by two or more settlors.
Power to obtain information for purposes of Chapter III.
Schedule 4 directions.
Severance of settled property for certain purposes.
Part XVI — ESTATES OF DECEASED PERSONS IN COURSE OF ADMINISTRATION
Limited interests in residue.
Amended 24 timesAbsolute interests in residue.
Amended 29 timesSupplementary provisions as to absolute interests in residue.
Amended 7 timesSpecial provisions as to certain interests in residue.
Amended 9 timesTaxation of income of beneficiaries at lower rate or at rates applicable to distribution income.
Amended 9 timesRelief from higher rate tax for inheritance tax on accrued income.
Amended 7 timesUntaxed sums comprised in the income of the estate.
Amended 7 timesAdjustments and information.
Amended 31 timesInterpretation.
Amended 20 timesApplication to Scotland.
Amended 3 timesPart XVII — TAX AVOIDANCE
Cancellation of corporation tax advantage.
Amended 30 timesThe prescribed circumstances.
Amended 24 timesAppeals against Board’s notices under section 703.
Amended 11 timesStatement of case by tribunal for opinion of High Court.
Amended 11 timesProceedings in Northern Ireland.
Amended 11 timesThe tribunal.
Amended 3 timesProcedure for clearance in advance.
Amended 3 timesPower to obtain information.
Amended 5 timesMeaning of “corporation tax advantage” and other expressions.
Amended 10 timesMeaning of “securities”, “transfer” etc. for purposes of sections 711 to 728.
Amended 23 timesMeaning of “interest”, “transfers with or without accrued interest” etc.
Amended 3 timesMeaning of “settlement day” for purposes of sections 711 to 728.
Amended 2 timesDeemed sums and reliefs.
Amended 2 timesTreatment of deemed sums and reliefs.
Amended 7 timesExceptions from sections 713 and 714
Amended 11 timesTransfer of unrealised interest.
Amended 7 timesVariable interest rate.
Amended 5 timesNominees, trustees etc.
Amended 20 timesDeath.
Amended 6 timesForeign securities: delayed remittances
Amended 5 timesInsurance companies.
Amended 8 timesLloyd’s underwriters.
Amended 3 timesBuilding societies.
Amended 1 timeNew issues of securities.
Amended 1 timeStock lending.
Amended 3 timesException for sale and repurchase of securities.
Amended 3 timesInformation.
Amended 8 timesSale and repurchase of securities.
Amended 3 timesTransfers of rights to receive distributions in respect of shares
Amended 32 timesTreatment of price differential on sale and repurchase of securities.
Amended 32 timesInterpretation of section 730A.
Amended 32 timesExchange gains and losses on sale and repurchase of securities
Amended 32 timesExchanges of gilts: traders etc.
Amended 32 timesApplication and interpretation of sections 732 to 734.
Amended 18 timesDealers in securities.
Amended 14 timesPersons entitled to exemptions.
Amended 1 timePersons other than dealers in securities.
Amended 2 timesMeaning of “appropriate amount in respect of” interest.
Amended 6 timesCompany dealing in securities: distribution materially reducing value of holding.
Amended 2 timesManufactured dividends and interest.
Amended 2 timesDeemed manufactured payments in the case of stock lending arrangements.
Amended 2 timesDeemed interest: cash collateral under stock lending arrangements
Amended 2 timesQuasi-stock lending arrangements and quasi-cash collateral
Amended 2 timesManufactured dividends: treatment of tax deducted.
Amended 31 timesSale and repurchase of securities: deemed manufactured payments.
Amended 31 timesInterpretation of section 737A.
Amended 31 timesDeemed manufactured payments: further provisions.
Amended 31 timesPower to provide for manufactured payments to be eligible for relief.
Amended 31 timesPower to modify sections . . . 730A, 730BB and 737A to 737C
Amended 31 timesPower to amend sections 732, 735 and 737.
Amended 9 timesPrevention of avoidance of income tax.
Amended 3 timesLiability of non-transferors.
Amended 12 timesExemption from sections 739 and 740 (transactions before 5th December 2005)
Amended 3 timesExemption from sections 739 and 740 (transactions on or after 5th December 2005)
Amended 3 timesApplication of sections 741 and 741A
Amended 3 timesCases where there are both old transactions and new transactions
Amended 3 timesSection 739: just and reasonable apportionment in certain cases
Amended 3 timesInterpretation of this Chapter
Amended 11 timesSupplemental provisions.
Amended 8 timesPower to obtain information.
Amended 7 timesPersons resident in the Republic of Ireland.
Amended 4 timesImputation of chargeable profits and creditable tax of controlled foreign companies
Amended 25 timesSpecial rule for computing chargeable profits.
Amended 25 timesCases where section 747(3) does not apply.
Amended 23 timesTerritorial exclusions from exemption under section 748
Amended 23 timesExclusion of small profits exemptions
Amended 23 timesResidence.
Amended 5 timesElections and designations under section 749: supplementary provisions.
Amended 5 timesInterests in companies.
Amended 5 timesTerritories with a lower level of taxation.
Amended 13 timesDeemed lower level of taxation: designer rate tax provisions.
Amended 13 timesAccounting periods and creditable tax
Amended 14 timesReduction in chargeable profits for certain activities of EEA business establishments
Amended 14 timesReduction in chargeable profits for certain financing income
Amended 14 timesReduction in chargeable profits: failure to qualify for exemptions
Amended 14 timesReduction in chargeable profits following an exempt period
Amended 14 timesSections 751A to 751AC: supplementary
Amended 14 timesNotices and appeals.
Amended 1 timeAssessment, recovery and postponement of tax.
Amended 23 timesReturns where it is not established whether acceptable distribution policy applies.
Amended 23 timesDeterminations requiring the sanction of the Board.
Amended 23 timesInformation relating to controlled foreign companies
Amended 1 timeTreatment of chargeable profits and creditable tax apportioned to company carrying on life assurance business.
Amended 1 timeAmendment of return where general insurance business of foreign company accounted for on non-annual basis.
Amended 1 timeApplication of Chapter where general insurance business of foreign company accounted for on non-annual basis.
Amended 1 time“Control" and the two “40 per cent" tests.
Amended 1 timeInterpretation and construction of Chapter IV.
Amended 8 timesGeneral definition of offshore fund
Amended 8 timesTreatment of umbrella funds
Amended 8 timesTreatment of funds comprising more than one class of interest
Amended 8 timesDisposal of material interests in non-qualifying offshore funds
Amended 19 timesOffshore funds operating equalisation arrangements
Amended 8 timesMaterial interests in offshore funds
Amended 13 timesNon-qualifying offshore funds
Amended 5 timesCharge to income tax or corporation tax of offshore income gain.
Amended 25 timesOffshore income gains accruing to persons resident or domiciled abroad.
Amended 17 timesExchange of interests of different classes
Amended 17 timesOffshore income gains: application of transfer of assets abroad provisions
Amended 17 timesIncome treated as arising under section 761(1): remittance basis
Amended 17 timesDeduction of offshore income gain in determining capital gain.
Amended 11 timesOffshore income gains of trustees.
Amended 2 timesMigration etc. of companies.
Amended 4 timesMovements of capital between residents of member States.
Amended 4 timesOffences under section 765.
Amended 1 timeInterpretation and commencement of sections 765 and 766.
Amended 3 timesChange in company ownership: corporation tax.
Amended 3 timesChange in company ownership: postponed corporation tax.
Amended 3 timesChange of company ownership: supplementary.
Amended 3 timesChange in company ownership: information.
Amended 3 timesChange in ownership of company: disallowance of trading losses.
Amended 5 timesChange in ownership: disallowance of carry back of trading losses.
Amended 5 timesChange in ownership of company with investment business: deductions generally
Amended 5 timesDeductions: asset transferred within group.
Amended 5 timesChange in ownership of company carrying on property business.
Amended 5 timesChange in ownership of company with unused non-trading loss on intangible fixed assets
Amended 5 timesRules for ascertaining change in ownership of company.
Amended 34 timesSales etc. at an undervalue or overvalue.
Amended 2 timesProvision not at arm’s length.
Amended 2 timesInformation for purposes of section 770, and appeals.
Amended 1 timeInterpretation of sections 770 and 771.
Amended 2 timesTransactions between dealing company and associated company.
Amended 6 timesMeaning of “structured finance arrangement” for purposes of s.774B
Amended 6 timesDisregard of intended effects of arrangement involving disposals of assets
Amended 6 timesMeaning of “structured finance arrangement” for purposes of s.774D
Amended 6 timesDisregard of intended effects of arrangement involving change in relation to a partnership
Amended 6 timesSections 774B and 774D: exceptions
Amended 6 timesSections 774B and 774D: power to provide further exceptions
Amended 6 timesSections 774A to 774D: minor definitions etc
Amended 6 timesSale by individual of income derived from his personal activities.
Amended 3 timesTransfers of rights to receive annual payments
Amended 3 timesTransactions in land: taxation of capital gains.
Amended 34 timesProvisions supplementary to section 776.
Amended 26 timesPower to obtain information.
Amended 6 timesSale and leaseback: limitation on tax reliefs.
Amended 26 timesSale and leaseback: taxation of consideration received.
Amended 8 timesAssets leased to traders and others.
Amended 29 timesLeased assets: special cases.
Amended 11 timesLeased assets: supplemental.
Amended 10 timesMeaning of “asset”, “capital sum” and “lease” for purposes of sections 781 to 784.
Amended 4 timesRent factoring of leases of plant or machinery
Amended 4 timesPlant and machinery leases: capital receipts to be treated as income
Amended 4 timesSection 785B: interpretation
Amended 4 timesSection 785B: lease of plant and machinery and other property
Amended 4 timesSection 785B: expectation that relevant capital payment will not be paid
Amended 4 timesRestrictions on use of losses: leasing partnerships
Amended 4 timesSection 785ZA: definitions
Amended 4 timesTransactions associated with loans or credit.
Amended 13 timesRestriction of relief for payments of interest.
Amended 9 timesBrowse 11 other sections in this Part — procedural / definitional / commencement
Interest in default.
Unrealised interest in default
Trading stock.
Gilt strips: deemed transfer.
No duplication of charge.
Apportionment of chargeable profits and creditable tax
Relevant interests.
Section 752(3): the percentage of shares which a relevant interest represents.
Interpretation of apportionment provisions.
Transactions by petroleum companies.
Leased assets subject to hire-purchase agreements.
Part XVIII — DOUBLE TAXATION RELIEF
Relief by agreement with other territories.
Amended 14 timesArrangements made under old law.
Amended 5 timesUnilateral relief.
Amended 12 timesPower to make regulations for carrying out section 788.
Amended 1 timeInterpretation of credit code.
Amended 4 timesReduction of United Kingdom taxes by amount of credit due.
Amended 1 timeNo double relief etc.
Amended 1 timeRequirement as to residence.
Amended 4 timesComputation of income subject to foreign tax.
Amended 15 timesLimits on credit: minimisation of the foreign tax.
Amended 15 timesLimits on credit: income tax.
Amended 7 timesLimits on credit: corporation tax.
Amended 17 timesForeign tax on items giving rise to a non-trading credit : loan relationships.
Amended 17 timesForeign tax on items giving rise to a non-trading credit: intangible fixed assets
Amended 17 timesSection 796: trade income
Amended 5 timesSection 797: trade income
Amended 5 timesSection 798A: special cases
Amended 5 timesDisallowed credit: use as deduction
Amended 5 timesComputation of underlying tax.
Amended 16 timesDividends paid between related companies but not covered by arrangements.
Amended 1 timeDividends paid between related companies: relief for U.K. and third country taxes.
Amended 18 timesRestriction of relief for underlying tax.
Amended 18 timesDividends paid out of transferred profits.
Amended 18 timesSeparate streaming of dividend so far as representing an ADP dividend of a CFC.
Amended 18 timesU.K. insurance companies trading overseas.
Amended 7 timesUnderlying tax reflecting interest on loans.
Amended 18 timesForeign taxation of group as a single entity.
Amended 18 timesRelief against income tax in respect of income arising in years of commencement.
Amended 12 timesLife assurance companies with overseas branches etc: restriction of credit.
Amended 12 timesInsurance companies carrying on more than one category of business: restriction of credit.
Amended 12 timesInsurance companies: allocation of expenses etc in computations under section 35 of CTA 2009.
Amended 12 timesInterpretation of section 804C in relation to life assurance business etc.
Amended 12 timesInterpretation of section 804C in relation to other insurance business.
Amended 12 timesInterpretation of sections 804A to 804E.
Amended 12 timesReduction in credit: payment by reference to foreign tax
Amended 12 timesSchemes and arrangements designed to increase relief
Amended 12 timesEffect of notice under section 804ZA
Amended 12 timesNotices under section 804ZA: further provision
Amended 12 timesElections against credit.
Amended 1 timeTime limit for claims etc.
Amended 14 timesEligible unrelieved foreign tax on dividends: introductory.
Amended 14 timesThe amounts that are eligible unrelieved foreign tax.
Amended 14 timesOnshore pooling.
Amended 14 timesUtilisation of eligible unrelieved foreign tax.
Amended 14 timesRules for carry back of relievable tax under section 806D.
Amended 14 timesCredit to be given for underlying tax before other foreign tax etc.
Amended 14 timesClaims for the purposes of section 806D(4) or (5).
Amended 14 timesSurrender of relievable tax by one company in a group to another.
Amended 14 timesInterpretation of foreign dividend provisions of this Chapter.
Amended 14 timesApplication of foreign dividend provisions to branches or agencies in the UK of persons resident elsewhere.
Amended 14 timesCarry forward or carry back of unrelieved foreign tax.
Amended 14 timesProvisions supplemental to section 806L.
Amended 14 timesSale of securities with or without accrued interest.
Amended 11 timesDisposals and acquisitions of company loan relationships with or without interest.
Amended 11 timesIntroduction to section 807C
Amended 11 timesTax treated as chargeable in respect of transfer of loan relationship, derivative contract or intangible fixed assets
Amended 11 timesIntroduction to section 807E
Amended 11 timesTax treated as chargeable in respect of transfer of loan relationship, derivative contract or intangible fixed assets
Amended 11 timesIntroduction to section 807G
Amended 11 timesTax treated as chargeable in respect of relevant transactions
Amended 11 timesRestriction on deduction of interest or dividends from trading income.
Amended 5 timesInterest: special relationship.
Amended 5 timesRoyalties: special relationship.
Amended 5 timesRelief in respect of discretionary trusts.
Amended 4 timesPostponement of capital allowances to secure double taxation relief.
Amended 3 timesDeduction for foreign tax where no credit allowable.
Amended 24 timesWithdrawal of right to tax credit of certain non-resident companies connected with unitary states.
Amended 9 timesRecovery of tax credits incorrectly paid.
Amended 1 timeArrangements to avoid section 812.
Amended 2 timesPower to inspect documents.
Amended 1 timeTransfer of a non-UK trade.
Amended 1 timeMutual agreement procedure and presentation of cases under arrangements.
Amended 1 timeUK residents and foreign enterprises
Amended 1 timeThe Arbitration Convention.
Amended 1 timeExchange of information with other territories.
Amended 1 timeDisclosure of information.
Amended 19 timesPart XIX — SUPPLEMENTAL
Deductions not to be allowed in computing profits or gains.
Amended 8 timesArrangements for payments of interest less tax or of fixed net amount.
Amended 3 timesOld references to standard rate tax.
Amended 8 timesApplication of Income Tax Acts from year to year.
Amended 1 timeUnder-deductions from payments made before passing of annual Act.
Amended 13 timesOver-deductions from interest on loan capital etc. made before passing of annual Act.
Amended 1 timeAdjustments of reliefs where given at different times.
Amended 1 timeRepayment supplements: individuals and others.
Amended 62 timesRepayment supplements: companies.
Amended 14 timesInterest on tax overpaid.
Amended 128 timesInterest on payments in respect of corporation tax and meaning of “the material date".
Amended 128 timesVAT penalties etc.
Amended 17 timesTerritorial scope of charges under certain provisions to which section 836B applies
Amended 17 timesOrders and regulations made by the Treasury or the Board.
Amended 49 timesApplication of Income Tax Acts to public departments and avoidance of exempting provisions.
Amended 5 timesTerritorial sea . . ..
Amended 8 timesInterpretation of this Act.
Amended 11 timesInterpretation of the Corporation Tax Acts etc.
Amended 69 timesInterpretation of Income Tax Acts.
Amended 22 timesInterpretation of the Corporation Tax Acts.
Amended 26 timesMiscellaneous charges (list for the purposes of certain provisions that formerly referred to Case VI of Schedule D)
Amended 26 timesMeaning of “UK property business” and “overseas property business”
Amended 26 timesTotal profits
Amended 26 times“Total income” in the Income Tax Acts.
Amended 10 timesReturns of total income.
Amended 1 timeGenerally accepted accounting practice
Amended 1 timeTable of provisions to which this section applies
Amended 1 time“Annual value” of land.
Amended 1 timeMeaning of “
Amended 1 timeMeaning of “ oil and gas exploration and appraisal ”.
Amended 1 timeMeaning of “offshore installation”
Amended 1 timeSubsidiaries.
Amended 8 timesConnected persons.
Amended 108 timesMeaning of “control” in certain contexts.
Amended 17 timesBanks.
Amended 17 timesMeaning of “tax advantage”
Amended 17 timesMeaning of “recognised stock exchange” etc
Amended 5 timesRecognised clearing systems.
Amended 5 timesInvestment trusts.
Amended 31 timesLocal authorities.
Amended 31 timesVenture capital trusts.
Amended 31 timesMeaning of . . . “property investment LLP”
Amended 31 timesCommencement.
Amended 4 timesBrowse 2 other sections in this Part — procedural / definitional / commencement
Schedules
(1) For each quarter in which a person effects a...
- Submit quarterly returns to HMRC for chargeable transactions Any Person
If a person has made a payment purporting to be...
Other duties (1) — Crown / regulator
- HMRC must repay or adjust overpaid tax under paragraph 6A Statutory regulator
(1) Method A is that the distributable pool is equal...
- Set fixed profit share percentage in employee share scheme Employer
(1) Method B is that the distributable pool is—
- Calculate distributable pool correctly under Method B for profit-sharing schemes Employer
(1) The scheme must provide for the preparation of a...
- Prepare true and fair profit and loss accounts for scheme periods Employer
(1) The scheme must provide that, in preparing a profit...
- Maintain consistent accounting policies in scheme accounts Employer
(1) In a case where— (a) paragraph 21 above applies...
- Cap profit-related pay as a percentage of profits when using Method A Employer
(1) In a case where— (a) paragraph 21 above applies...
- Include payment limits in profit-related pay schemes using method B Employer
(1) Subject to the provisions of this Schedule, on the...
Other duties (1) — Crown / regulator
- HMRC must approve qualifying share option or profit sharing schemes Statutory regulator
(1) In the case of a profit sharing scheme, scheme...
- Do not use prohibited shares in a profit sharing scheme Employer
(1) The scheme must provide for the scheme shares to...
- Ensure share scheme limits payments to certified savings scheme repayments Employer
Subject to paragraphs 18 to 21 below, the rights obtained...
- Ensure share scheme rights cannot be exercised before the bonus repayment date Trader
The scheme must provide that if a person who has...
- Include death-related exercise rules in share scheme Employer
The scheme must provide that if a person who has...
- Include rules on exercising share rights after employment ends Employer
The scheme must provide that where a person who has...
- Include retirement-age exercise rights in share scheme rules Employer
Except as provided in paragraph 18 above, rights obtained by...
- Ensure scheme rights are non-transferable and expire after 6 months Trader
No person shall be treated for the purposes of paragraph...
- Do not treat an employee as leaving employment early for share scheme purposes Employer
(1) The scheme must provide for a person’s contributions under...
- Ensure savings-related share option scheme contributions comply with limits and structure Employer
The price at which scheme shares may be acquired by...
- Set share scheme exercise price at fair market value (≥80%) Trader
(1) Subject to paragraph 8 above, every person who—
- Offer share scheme participation on similar terms to all eligible employees and directors Director or Officer
(1) A person must not be eligible to obtain rights...
- Restrict share scheme eligibility and prohibit transfer of rights Operator
(1) The scheme must provide that no person shall obtain...
- Cap employee share option rights at £30,000 market value Any Person
(1) The price at which scheme shares may be acquired...
- State share option price at grant and ensure it matches market value Employer
(1) The scheme must provide for the establishment of a...
- Set up a UK-resident trust to hold and allocate shares to scheme participants Trader
The trust instrument shall provide that, as soon as practicable...
- Trustees must notify you of share appropriations Trustee
The scheme must not provide for any person to be...
- Prohibit scheme participation by close-company material-interest holders Employer
(1) A share option scheme must provide for directors and...
- Ensure share option and profit sharing scheme shares meet statutory requirements Employer
(1) Subject to sub-paragraphs (4) and (5) below, where the...
- Pass on PAYE deductions from share scheme proceeds to the participant Director or Officer
(1) The change of residence mentioned in paragraphs 3(2) and...
- Ensure change of residence for removal expenses meets qualifying conditions Employer
(1) This paragraph shall have effect where—
- Make return and claim ACT repayment for late-received franked investment income Trader
Where a company makes a qualifying distribution on a date...
- Report qualifying distributions outside an accounting period within 14 days Trader
(1) A claim not included in a return or an...
- Submit standalone tax claims to HMRC with supporting documents Any Person
(1) Subject to the following provisions of this Part of...
- Ensure life insurance policy meets qualifying conditions for tax relief Any Person
The return made by a company for any period shall...
- Include relevant payments and income tax in company tax returns Trader
Where a company makes a relevant payment on a date...
- Report relevant payments made outside an accounting period within 14 days Trader
(1) A claim shall require the consent of the surrendering...
- Give notice of consent to HMRC when surrendering group relief Trader
(1) A claim under paragraph 5 above shall be expressed...
- Express marginal relief claim as conditional on specified matters Applicant
(1) In relation to an underwriting year a managing agent...
- Apply for repayment of tax on syndicate investment income Any Person
Entitlement to certain payments on account
- Submit claim for provisional repayment of pension‑related tax Trader
(1) An insurance company carrying on pension business shall for...
- Claim provisional repayment of income tax and tax credits for pension business Trader
(1) his paragraph applies where an employee who is a...
- Cap pensionable pay for controlling directors and high earners on retirement Employer
(1) The trustees of an eligible scheme may at any...
- Apply to HMRC to convert an eligible pension scheme to an approved personal pension scheme Trustee
(1) This paragraph applies in any case where—
- Guarantor companies may claim to be treated as issuer of guaranteed debt security Trader
(1) The requirement of this paragraph is that the relevant...
- Ensure property managing subsidiaries are relevant qualifying subsidiaries Trader
(1) The requirements of this paragraph are that . ....
- Your company must not control non-qualifying subsidiaries or be controlled by another company Trader
Browse 905 other Schedules — structural / supplementary
PUBLIC REVENUE DIVIDENDS ETC. PAYABLE TO THE BANK OF ENGLAND OR THE BANK OF IRELAND OR ENTRUSTED FOR PAYMENT TO THE BANK OF ENGLAND, THE BANK OF IRELAND OR THE NATIONAL DEBT COMMISSIONERS
Interpretation
APPROVED SHARE OPTION SCHEMES AND PROFIT SHARING SCHEMES
Introductory
PROVISIONS ANCILLARY TO SECTION 266
QUALIFYING POLICIES
DIVISION OF ACCOUNTING PERIODS COVERING 1st APRIL 1987
QUALIFYING INVESTMENTS
Preliminary
Cases where section 747(3) does not apply
DISPOSALS OF INTERESTS IN NON-QUALIFYING FUNDS
REPEALS
(1) Except as provided by sub-paragraphs (2) and (3) below,...
(1) Subject to sub-paragraph (2) below, no payment shall be...
(1) Section 30 shall not apply in relation to expenditure...
The Bank of England and the Bank of Ireland as...
Nothing in paragraphs 6 to 6F above shall impose on...
Where income tax in respect of the proceeds of the...
(1) . . . ,the Board may, by notice served...
In this Part of this Schedule— “dividends” includes foreign dividends,...
(1) Any person who is entrusted with the payment of...
(1) In the case of dividends and profits attached thereto...
Money set apart or retained under paragraph 2 above, and...
No deduction of income tax under this Part of this...
Where any payment is made of public revenue dividends payable...
(1) The following persons are chargeable persons for the purposes...
(1) On the fourteenth day following the month in which...
Any tax due under paragraph 6A above shall carry interest,...
(1) Any income tax which has become due under paragraph...
(1) None of the provisions of section 29 of the...
(1) For the purposes of this Schedule—
(1) Where a deep discount security issued by a close...
(1) Where any deep discount security issued by a company...
Where any deep discount security issued by a public body...
(1) This paragraph applies where— (a) securities (old securities) of...
The rules contained in section 108 of the 1992 Act...
(1) Every company which issues deep discount securities shall cause...
A charity shall be exempt from income tax in respect...
(1) In a case where— (a) paragraph 4 above would...
(1) In a case where— (a) a security is the...
(1) Where on the disposal by trustees of a deep...
(1) In a case where— (a) securities have been issued...
(1) This sub-paragraph applies to deep discount securities issued by...
(1) In a case where— (a) all the securities issued...
In a case where— (a) a security is a qualifying...
(1) Where a person acquires a chargeable security, the chargeable...
(1) On the disposal by any person of any deep...
(1) In computing the corporation tax chargeable for any accounting...
(1) Section 494 shall apply in relation to income elements...
(1) Subject to sub-paragraphs (2) and (3) below, there is...
(1) Where any deep discount security is disposed of and...
(1) Where a deep discount security issued by a company...
CREATIVE ARTISTS: RELIEF FOR FLUCTUATING PROFITS
Schedule 4A para.1
Schedule 4A para.10
Schedule 4A para.11
Schedule 4A para.12
Schedule 4A para.13
Schedule 4A para.14
Schedule 4A para.2
Schedule 4A para.3
Schedule 4A para.4
Schedule 4A para.5
Schedule 4A para.6
Schedule 4A para.7
Schedule 4A para.8
Schedule 4A para.9
(1) This Schedule forms part of the SIP code (see...
(1) The Inland Revenue may by notice direct that the...
(1) If approval of a share incentive plan is withdrawn...
(1) This paragraph applies where the company has issued a...
(1) The provisions of this Schedule apply in relation to—...
(1) Where, under an approved share incentive plan, shares are...
(1) Where under an approved share incentive plan—
(1) No deduction is allowed under paragraph 2 or 3...
(1) No deduction is allowed for expenses in providing shares...
(1) This paragraph applies if any of a participant’s plan...
(1) A deduction is allowed under this paragraph for expenses...
(1) Nothing in this Schedule affects any deduction for expenses...
(1) A deduction is allowed to a company under this...
(1) Subject to the provisions of this Schedule, in computing...
Where an election for the herd basis is made, every...
Where an election for the herd basis has effect for...
The validity of an election for the herd basis in...
(1) An election for the herd basis shall apply to...
(1) Where an election for the herd basis has effect,...
A farmer who, having kept a production herd of a...
(1) Where a farmer transfers to another person all or...
(1) Where the whole or a substantial part of a...
Nothing in this Schedule applies to any animals kept wholly...
(1) In this Schedule “herd” includes a flock, and any...
(1) The preceding provisions of this Schedule shall, with the...
(1) In this Schedule— (a) “approved stock lending arrangement” means...
(1) This paragraph applies where in connection with an approved...
(1) Where the lender under one or more approved stock...
In this Schedule— “relief” means relief by way of— deduction...
Charge to tax etc.
(1) Subject to sub-paragraph (2) below, profits and gains arising...
(1) This Schedule applies to a transaction if—
(1) For the purposes of this Schedule a guaranteed return...
(1) For the purposes of this Schedule a disposal is...
(1) This paragraph applies where for the purposes of this...
(1) In this Schedule references to the return from one...
(1) For the purposes of this Schedule two or more...
(1) Where any profits or gains are treated, in accordance...
For the purpose of determining whether an individual ordinarily resident...
(1) This paragraph applies where— (a) any determination falls to...
(1) The cash equivalent of the benefit is the appropriate...
For the purposes of this Schedule a car is available...
The appropriate percentage for the year is determined in accordance...
(1) This paragraph applies where— (a) the car—
(1) For the purposes of paragraph 3 above the lower...
Where the car— (a) is first registered on or after...
(1) Sub-paragraph (2) below applies where— (a) paragraph 3 above...
In this Schedule— “EC certificate of conformity” means a certificate...
(1) This paragraph applies where— (a) the car is first...
(1) This paragraph applies where the car—
The Treasury may by regulations provide for the value of...
(1) This paragraph applies where the car was first registered...
For the purposes of this Schedule, a vehicle is not...
Subject to paragraph 7 below, where for any part of...
(1) Where in the year concerned the employee is required,...
The Treasury may by regulations provide that where—
For the purposes of this Schedule a car is to...
(1) This paragraph applies where the van mentioned in section...
(1) This paragraph applies where— (a) a cash equivalent of...
In a case where— (a) the cash equivalent of the...
For the purposes of this Schedule a van is available...
(1) Subject to paragraph 3 below, where paragraph 1 above...
(1) Where paragraph 1 above applies and in the year...
(1) This Part of this Schedule applies to a van...
(1) This paragraph applies where for any year this Part...
(1) Subject to sub-paragraph (2) below, the basic value of...
Where (apart from this paragraph) the figure found under paragraph...
(1) In a case where— (a) a figure is found...
(1) Where this Part of this Schedule applies and in...
(1) Subject to sub-paragraph (5) below, the benefit of a...
(1) If— (a) a person has a loan on which...
(1) Where in any year a person has, alone or...
References in paragraphs 10 and 11 above to a husband...
This Part of this Schedule is subject to the provisions...
This Part of this Schedule applies in relation to the...
Where this Part of this Schedule applies in relation to...
(1) Where, by virtue only of paragraph 15 above, paragraph...
Paragraph 15 above shall not prevent paragraph 7, 8 or...
If, in the case of the employee, there is a...
(1) In this Schedule— “eligible for relief” shall be construed...
In paragraph 1 above— (a) references to a loan being...
(1) The cash equivalent for any year of the benefit...
(1) In the absence of a requirement or election that...
(1) For any year of assessment (“the relevant year”) the...
(1) Where in any year there are two or more...
Section 160(1) does not apply to a loan in any...
Where for any year interest is paid on a loan...
(1) Where for any year— (a) no interest is paid...
For the purposes of section 161B(1) a loan “on ordinary...
(1) This paragraph applies to any loan and the relevant...
(1) This paragraph applies to a loan that has been...
(1) The requirements of this paragraph apply to a loan...
Amounts incurred by the person to whom a loan is...
For the purposes of this Schedule a “member of the...
The terms of the scheme must be set out in...
(1) Subject to sub-paragraphs (2) and (3) below, any such...
The scheme must contain provisions by reference to which the...
Except where the scheme is a replacement scheme (within the...
(1) Where a scheme includes provision by virtue of paragraph...
(1) Where a scheme includes provision to give effect to...
If the scheme is a replacement scheme (within the meaning...
The scheme must provide for the whole of the distributable...
The scheme must make provision as to when payments will...
(1) The provisions of the scheme must be such that...
(1) The Treasury may by order amend paragraph 19 above...
The scheme must identify the scheme employer.
(1) This paragraph shall apply to a scheme if the...
(1) Where paragraph 21 above applies to a scheme, the...
If the scheme employer does not pay the emoluments of...
(1) The scheme must identify the undertaking to which the...
The scheme must contain provisions by reference to which the...
The scheme must contain provisions ensuring that no payments are...
(1) The scheme must contain provisions ensuring that no payments...
The persons within this paragraph are any of the following...
The scheme must identify the accounting period or periods by...
Scheme shares must form part of the ordinary share capital...
Scheme shares must be— (a) shares of a class listed...
(1) Scheme shares must be— (a) fully paid up;
(1) In determining, in the case of a share option...
(1) Except where scheme shares are shares in a company...
(1) Except in the case of a profit sharing scheme,...
(1) The Board shall not approve a scheme under this...
(1) The scheme may provide that— (a) if any person...
(1) If, at any time after the Board have approved...
(1) The trust instrument must contain a provision prohibiting the...
The trust instrument must contain a provision requiring the trustees—...
The trust instrument must impose an obligation on the trustees—...
(1) An individual shall not be eligible to have shares...
(1) Subject to paragraphs 8 and 35 above, every person...
(1) This paragraph applies in a case where—
(1) For the purposes of section 187(3)(a) a right to...
In applying section 187(3), as respects any time before or...
If an alteration is made in the scheme at any...
(1) Where an individual has an interest in shares or...
If aggrieved— (a) in any case, by the failure of...
The Board may by notice require any person to furnish...
The provisions of this Part apply in relation to all...
(1) In the case of a savings-related share option scheme...
(1) Any obligation placed on the participant by virtue of...
For the purposes of any of the relevant provisions, “the...
(1) For the purposes of any of the relevant provisions...
(1) In paragraph 3 above the reference to the relevant...
(1) Money or money’s worth is not a capital receipt...
(1) This paragraph applies where there occurs in relation to...
(1) Paragraph 5(2) to (6) above apply where there occurs...
(1) This paragraph applies in any case where—
The provisions of this Schedule supplement the provisions of section...
Tax is not charged under section 148 if foreign service...
(1) Where there is foreign service and paragraph 10 does...
(1) For the purposes of section 148, the amount of...
(1) This paragraph applies where a person is chargeable to...
(1) Tax under section 148 is charged on the employee...
Provision may be made by regulations under section 203(2) requiring...
In this Schedule— “the relevant date” means the date of...
(1) Section 148 applies to all payments and other benefits...
Tax is not charged under section 148 on a payment...
(1) Tax is not charged under section 148 on a...
Tax is not charged under section 148 on a payment...
(1) Tax is not charged under section 148 on—
(1) This pargraph specifies how the £30,000 threshold in section...
(1) For the purposes of paragraph 7(2)(b) employers are associated...
(1) If the employee’s service in the employment in respect...
(1) Where by reason of a person’s employment—
Expenses fall within paragraph 7(c) above if (and only if)—...
(1) Expenses fall within paragraph 7(d) above if (and only...
(1) Expenses fall within paragraph 7(e) above if (and only...
(1) Expenses fall within paragraph 7(f) above if (and only...
(1) Expenses fall within paragraph 7(g) above if (and only...
(1) The Treasury may make regulations amending the preceding provisions...
Benefits are eligible removal benefits if they fall into one...
(1) A benefit falls within paragraph 16(a) above if (and...
(1) A benefit falls within paragraph 16(b) above if (and...
A benefit falls within paragraph 16(c) above if (and only...
(1) This paragraph applies where— (a) any payment or benefit...
(1) A benefit falls within paragraph 16(d) above if (and...
(1) A benefit falls within paragraph 16(e) above if (and...
(1) A benefit falls within paragraph 16(f) above if (and...
(1) The Treasury may make regulations amending the preceding provisions...
(1) In a case where, by reason of the employee’s...
In this Schedule— (a) references to the residence of the...
For the purposes of this Schedule a person is not...
In this Schedule references to employment include references to any...
References in this Schedule to subsistence are to food, drink...
This Schedule applies to any payment made, or any benefit...
(1) Expenses are not qualifying removal expenses unless they are...
(1) A benefit is not a qualifying removal benefit unless...
(1) Subject to sub-paragraph (2) below, the relevant day, in...
Expenses are eligible removal expenses if they fall into one...
(1) Expenses fall within paragraph 7(a) above if (and only...
(1) Expenses fall within paragraph 7(b) above if (and only...
This Schedule shall have effect for the purpose of supplementing...
For the purposes of section 192A and this Schedule the...
(1) This paragraph has effect where a deduction falls to...
(1) For the purposes of section 192A a qualifying period...
For the purposes of this Schedule a person shall not...
Notwithstanding section 132(4)(b), there shall be treated for the purposes...
Where an employment is in substance one the duties of...
In this Schedule references to an employment include references to...
(1) The provisions of this Schedule apply for the purposes...
(1) “Ordinary commuting” means travel between— (a) the employee’s home,...
Travel between any two places that is for practical purposes...
For the purposes of paragraph 2, subject to the following...
(1) A place is not regarded as a temporary workplace...
A place which the employee regularly attends in the performance...
(1) An employee is treated as having a permanent workplace...
Schedule 12AA para.1
Schedule 12AA para.2
Schedule 12AA para.3
Schedule 12AA para.4
Schedule 12AA para.5
Schedule 12AA para.6
Schedule 12AA para.7
Schedule 12AA para.8
One employment is associated with another if— the employer is...
(1) A company shall for each of its accounting periods...
(1) All the provisions of the Corporation Tax Acts as...
(1) Subject to paragraph 7(2) below, the return made by...
(1) Subject to paragraph 7(2) below, advance corporation tax in...
(1) This paragraph and paragraph 3B below apply where—
(1) Without prejudice to paragraph 3 above, if at any...
(1) This paragraph shall have effect where—
Where under paragraph 2 or 4 above franked investment income...
(1) Where a claim has been made under paragraph 5...
(1) Where under paragraph 2 or 4A above foreign income...
(1) This paragraph applies to— (a) any qualifying distribution which...
(1) If a company becomes aware— (a) that anything which...
Where any item has been included in a return under...
(1) This paragraph applies in any case where, by virtue...
(1) In this Schedule any reference to a claim is...
Nothing in the Management Act shall be read as allowing...
(1) Where— (a) a claim is made after an assessment...
(1) Where— (a) by virtue of section 239(4), advance corporation...
(1) Sub-paragraph (3) below applies where— (a) under section 239(1),...
(1) The standard provisions about enquiries into self-assessments . ....
(1) Where— (a) a claim is withdrawn after an assessment...
(1) Surrenders to different subsidiaries or to the same subsidiary...
(1) A claim must specify— (a) the amount the benefit...
A claim by the surrendering company must be made within...
(1) Where a claim could be made by being included...
(1) A claim shall not be withdrawn except by a...
Where— (a) a claim (“claim A”) is withdrawn, and
(1) Subject to sub-paragraph (3) below, a claim shall not...
(1) Paragraphs 2 to 5 below apply where at any...
Subject to paragraph 3 below, the lower-earning partner shall not...
(1) This paragraph applies if no part of either partner’s...
(1) This paragraph applies where— (a) a partner is entitled...
(1) This paragraph applies to elections under paragraph 3 above....
(1) This paragraph applies to a child for a year...
(1) This paragraph applies where a child is a relevant...
(1) For the purposes of this paragraph a change of...
(1) In section 266— (a) references to an individual's spouse...
(1) This paragraph applies to— (a) a policy issued in...
(1) Where a policy is issued or a contract is...
(1) Where it appears to the Board that the relief...
Where a person is entitled to relief under section 266...
(1) Where in any year of assessment the relief to...
(1) The Board may make regulations for carrying into effect...
(1) A policy of life insurance issued in respect of...
(1) Subject to the following provisions of this Part of...
A policy which secures a capital sum payable only on...
(1) A policy which evidences a contract of insurance to...
For the purpose of determining whether any policy is a...
Subject to paragraph 14 below, where the terms of any...
(1) A policy shall not be a qualifying policy if...
(1) Where, in the case of a policy under which...
In determining whether a policy is a qualifying policy, no...
(1) Subject to paragraph 19 below, where one policy (“the...
(1) Subject to paragraph 19 below and to the provisions...
(1) The following provisions of this paragraph shall have effect...
(1) Where, as a result of a variation in the...
In this Part of this Schedule “ industrial assurance business...
(1) This paragraph applies to a qualifying policy (“the original...
(1) A policy of life insurance issued in respect of...
(1) A body which issues or which, after 5th April...
In this Part— (a) any reference to a paragraph is...
(1) This paragraph applies to a policy of life insurance—...
(1) In the application of paragraph 17 in any case...
If, in the case of a substitution of policies falling...
(1) For the purposes of Part I and paragraph 24,...
(1) Paragraphs 1 and 2 above do not apply to...
(1) The provisions of this paragraph have effect notwithstanding anything...
Section 466 shall apply for the interpretation of paragraphs 3...
(1) A policy which was issued by any registered friendly...
Any expression— (a) which is used in any provision made...
(1) A policy issued in the course of an industrial...
Where a policy issued in respect of an insurance made...
(1) Paragraphs 7 and 8 above shall have effect in...
(1) The following provisions apply to any policy which is...
(1) Sub-paragraph (2) applies if— (a) an event falling within...
(1) Sub-paragraph (2) applies if— (a) an event falling within...
(1) For the purposes of paragraphs A1(1)(c) and A2(1)(c) above...
(1) This paragraph applies for the purposes of this Part...
(1) This paragraph applies for the purposes of this Part...
(1) In this Part of this Schedule—
(1) Sub-paragraph (2) applies in relation to a policy issued...
(1) Sub-paragraph (2) applies if any rights under a qualifying...
(1) Sub-paragraph (2) applies if any of the following events...
This Schedule shall have effect for the purposes of section...
(1) Where an authorisation has been given under section 326(8)...
(1) Where an authorisation has been given under section 326(8)...
(1) If the Treasury act as regards an authorisation under...
(1) A share option linked scheme is a scheme under...
A relevant European institution is an EEA firm of the...
(1) The requirements which may be specified under section 326(3)(b),...
(1) Where a specification has been made under section 326(3)(b),...
(1) Where a specification has been made under section 326(3)(b),...
(1) The Treasury may authorise a society or institution under...
(1) Where an authorisation has been given under section 326(7)...
(1) Where an authorisation has been given under section 326(7)...
(1) Subject to the following provisions of this Schedule, an...
(1) An individual shall not be entitled to relief under...
(1) This paragraph applies, subject to sub-paragraph (5) below, where—...
(1) Any relief given under this Part of this Schedule...
(1) Where an event occurs by reason of which any...
(1) In this Part of this Schedule “eligible shares”, in...
(1) A relevant distribution of a venture capital trust shall...
(1) For the purposes of this Part of this Schedule...
(1) In this Part of this Schedule “ordinary shares”, in...
In this Schedule “relevant payment” means any payment to which...
(1) All the provisions of the Income Tax Acts as...
Nothing in paragraphs 1 to 10 above shall be taken...
(1) A company shall for each of its accounting periods...
(1) . . . Income tax in respect of any...
(1) Where in any accounting period a company receives any...
(1) Where a claim has been made under paragraph 5...
Income tax set against other tax under paragraph 5 above...
(1) If a company becomes aware— (a) that anything which...
Where any item has been included in a return or...
(1) This Part of this Schedule has effect in the...
Subject to paragraph 5 below, for the purposes referred to...
If, in the straddling period of a dual resident investing...
In this Part of this Schedule— (a) a “1986 accounting...
(1) If the conditions in sub-paragraph (2) or (3) below...
(1) If, in the case of a dual resident investing...
Notice of the giving of a direction under paragraph 5...
(1) Parts I and II of this Schedule have effect...
(1) This Schedule has effect as respects claims for group...
(1) This paragraph applies in relation to claims under paragraph...
(1) All such assessments or adjustments of assessments shall be...
(1) No claim for an accounting period of a company...
(1) No claim for an accounting period of a company...
Where under paragraph 2 or 3 above a claim may...
(1) A claim for an accounting period of a company...
(1) A claim shall be made by being included in...
A claim may be made for less than the full...
A claim, other than one under paragraph 5 above, shall...
(1) For the purposes of sections 403C and 413(7) and...
(1) This paragraph applies to a right to dividends carried...
(1) Subject to the following provisions of this Schedule, for...
(1) Subject to the following provisions of this Schedule, for...
(1) This paragraph applies if any of the equity holders—...
(1) This paragraph applies if, at any time in the...
(1) In a case where paragraphs 4 and 5 above...
(1) This paragraph applies if, at any time in the...
(1) In a case where paragraphs 4 and 5B above...
(1) In a case where paragraphs 5 and 5B above...
(1) In a case where paragraphs 4 and 5 and...
(1) This paragraph has effect, in the cases specified in...
For the purposes of sections 403C and 413(7) and paragraphs...
(1) In this Schedule “the relevant accounting period” means (subject...
This Part of this Schedule applies, in the case of...
(1) This Part of this Schedule applies in the case...
(1) The EEA amount must, on the relevant assumptions (see...
(1) It is to be assumed that the EEA company...
(1) In the case of any trade carried on by...
(1) It is to be assumed that an accounting period...
(1) This paragraph applies if, before the beginning of the...
(1) For the purposes of this Part of this Schedule...
(1) This paragraph applies for the purposes of this Schedule....
An amount meets the equivalence condition if it corresponds (in...
(1) In the case of a non-resident company which is...
(1) In the case of a non-resident company which is...
(1) This paragraph applies in the case of a non-resident...
(1) For the purposes of paragraph 5, an amount cannot...
(1) For the purposes of paragraph 5, an amount cannot...
(1) For the purposes of paragraph 5, an amount has...
(1) This paragraph applies in the case of a non-resident...
(1) Subject to the provisions of this Part of this...
(1) Where a close company ceases to carry on the...
(1) Subject to paragraph 12below, where a company is subject...
(1) Where a company issues to a close company any...
(1) Where in the case of any company the inspector...
(1) Where notice has been served on a company under...
(1) If the inspector discovers that the amount apportioned in...
(1) A close company may, at any time after the...
(1) The inspector may, by notice, require any company which...
(1) Any functions conferred by this Chapter on the inspector...
(1) Subject to paragraphs 10and 12below, the relevant income of...
(1) For the purposes of this Chapter the distributions of...
(1) For the purposes of this Chapter, the distributable income...
(1) For the purposes of this Chapter, “estate or trading...
(1) The amount for part of an accounting period of...
(1) For the purposes of this Chapter, a “trading company”...
(1) For the purposes of paragraph 1(2)above there shall be...
(1) Paragraph 1(3)above shall not apply to—
(1) In this Schedule— “agent”, in relation to a syndicate...
(1) If it appears to an inspector or the Board...
(1) Interest charged under paragraph 3(4)above shall be treated for...
(1) An inspector may, at any time after the end...
(1) An inspector may, at any time after the end...
(1) In the case of a member’s profit for a...
(1) If the members’ agent delivers a return in accordance...
(1) If the inspector is satisfied that a return under...
(1) The [managing ] agent may appeal against a determination...
(1) Where the [managing ] agent appeals against a determination...
(1) Where a determination of a syndicate profit or loss...
(1) A determination of a syndicate profit or loss for...
For the purposes of sections 36, of the Taxes Management...
(1) This Schedule shall have effect for determining for the...
(1) Assets of a company at the end of a...
(1) Where the value of the assets mentioned in paragraph...
(1) The amount referred to in paragraph 3 above shall...
(1) Any designation of assets required for the purposes of...
(1) This paragraph applies in any case where—
(1) In any case where— (a) an insurance company’s self-assessment...
(1) The Board may by regulations make provision for the...
(1) This paragraph applies in relation to an accounting period...
(1) In this Schedule— “ provisional fraction ” shall be...
INTRODUCTORY
(1) In their application to a BLAGAB group reinsurer the...
Omit section 804D (interpretation of section 804C in relation to...
In section 804E (interpretation of section 804C in relation to...
The Finance Act 1989 shall have effect with the following...
Omit section 82B (unappropriated surplus on valuation).
Omit section 82D (treatment of profits: life assurance—adjustment consequent on...
Omit section 82E (section 82D: treatment of transferors under insurance...
Omit section 82F (section 82D: treatment of transferees under insurance...
In section 83 (receipts to be taken into account)—
In section 83XA (structural assets) in subsection (3)) for the...
Omit section 83YA (changes in value of assets brought into...
This Act shall have effect with the following modifications.
Omit section 83YB (meaning of “appropriate line 51” amount for...
Omit sections 83YC to 83YF (financing-arrangement-funded transfers).
(1) Modify section 83A (meaning of “brought into account”) as...
Omit section 83B (changes in recognised accounts: attribution of amounts...
In section 85A (excess adjusted life assurance trade profits) in...
Omit section 86 (spreading of relief for acquisition expenses).
In section 89 (policy holders' share of profits) omit subsection...
TIOPA 2010 shall have effect with the following modifications.
Omit section 102.
In section 103(1) omit the words from “if” to the...
(1) Modify section 76 (expenses of insurance companies) as follows....
(1) Modify section 431(2) (interpretative provisions relating to insurance companies)...
(1) Modify section 432B (apportionment of receipts brought into account)...
Omit section 432E (section 432B apportionment: participating funds).
Omit section 432F (section 432B apportionment: supplementary provisions).
In section 444AA (transfers of business: deemed periodical returns) in...
In section 444ABA (relevant non-transferred assets) in subsection (1) for...
(1) Modify section 444ABB (retained assets) as follows.
(1) Modify section 444ABD (transferor's period of account including transfer)...
(1) Modify section 444AC (transfer schemes: reduction of income of...
(1) In a case where the transferor or the transferee...
In section 444AEA (transfer schemes: anti-avoidance rule), in subsection (6),...
In section 804C (insurance companies: allocation of expenses etc in...
In its application to an overseas life insurance company this...
(1) In section 438, the following subsection shall be treated...
In section 439B the following subsection shall be treated as...
In section 440(2)(a), the reference to an insurance business transfer...
(1) Where the company mentioned in section 440(1) is an...
(1) In section 440B the following subsection shall be treated...
(1) In section 440A(2), in paragraph (a) the words “UK...
(1) In section 441A, the following subsection shall be treated...
In section 442A the following subsection shall be treated as...
In sections 444A(1) and 460(10A), the references to an insurance...
(1) In paragraph A of section 704, in sub-paragraph (e)...
(1) In subsection (2) of section 794, the following shall...
(1) In subsection (1) of section 811, the words “subsections...
(1) In Schedule 19AA, paragraph 5(5)(c) (and the reference to...
(1) In paragraph 1(8) of Schedule 19AB, the words “UK...
(1) In section 6(4), the words “ and paragraph 5B...
(1) In subsection (2) of section 11, the following paragraphs...
(1) The following sections shall be treated as inserted after...
(1) In section 12(7A), the reference to an insurance business...
After subsection (3) of section 76 there shall be treated...
(1) Where an overseas life insurance company receives a qualifying...
(1) An overseas life insurance company may, on making a...
(1) This paragraph applies to income from the investments of...
After subsection (11) there shall be treated as inserted the...
(1) In subsection (2) of section 431, the following definition...
In section 431D(1), the words “carried on through a branch...
(1) Section 432A has effect as if the references in...
(1) In subsection (1) of section 432B, the words “or...
(1) In section 434, the following subsections shall be treated...
In section 434A(1)— (a) the words “UK distribution income” shall...
The following section shall be treated as inserted after section...
In its application to an overseas life insurance company section...
Petroleum extraction activities: exploration expenditure supplement
About this Schedule
The mixed pool of qualifying E&A expenditure and supplement previously allowed
Treatment of disposal value on disposal of oil licence with exploitation value
Reduction in respect of unrelieved group ring fence profits
The reference amount for a pre-commencement period
Claims for pre-commencement supplement
Supplement in respect of a post-commencement period
Amount of post-commencement supplement for a post-commencement period
Ring fence losses and qualifying E&A losses
Ring fence losses and non-qualifying losses
Special rule for straddling periods
The pool of qualifying E&A losses and the pool of non-qualifying losses
Qualifying companies
The non-qualifying pool
The qualifying pool
Reductions in respect of utilised ring fence losses
Reductions in respect of unrelieved group ring fence profits
The reference amount for a post-commencement period
Accounting periods
The relevant percentage
Limit on number of accounting periods for which supplement may be claimed
Qualifying E&A expenditure
Unrelieved group ring fence profits for accounting periods
Taxable ring fence profits of an accounting period
Supplement in respect of a pre-commencement accounting period
(1) This Schedule entitles a company carrying on a ring...
(1) For the purpose of determining the amount of any...
(1) This paragraph applies in the case of the qualifying...
(1) This paragraph applies if there is an amount of...
For the purposes of this Part of this Schedule, the...
(1) Any claim for pre-commencement supplement in respect of a...
(1) A qualifying company which incurs a ring fence loss...
(1) The amount of the post-commencement supplement for any post-commencement...
(1) If— (a) in any post-commencement period (“the period of...
(1) This paragraph applies if the period of the loss...
(1) For the purpose of determining the amount of any...
This Schedule applies in relation to any company which—
(1) The ring fence pool consists of—
(1) If one or more ring fence losses are set...
(1) If there is an amount of unrelieved group ring...
For the purposes of this Part of this Schedule the...
(1) In this Schedule, in the case of any qualifying...
(1) For the purposes of this Schedule, the relevant percentage...
(1) A company may claim supplement under this Schedule in...
(1) For the purposes of this Schedule, expenditure is “qualifying...
(1) There is an amount of unrelieved group ring fence...
For the purposes of this Schedule, a company has taxable...
(1) If— (a) a qualifying company incurs qualifying pre-commencement expenditure...
Investments specified in any of the following paragraphs of this...
(1) For the purposes of section 506, a loan which...
This Part of this Schedule applies in the circumstances specified...
(1) So much of the unapplied non-qualifying expenditure as is...
(1) Where, in accordance with paragraph 12 above, an amount...
All such adjustments shall be made, whether by way of...
Any investment falling within Part I, Part II, apart from...
Any investment in a common investment fund established under section...
Any investment in a common deposit fund established under section...
Any interest in land, other than an interest held as...
Shares in, or securities of, a company which are listed...
Units, or other shares of the investments subject to the...
Shares in an open-ended investment company.
(1) Deposits with a bank in respect of which interest...
Uncertificated eligible debt security units as defined in section 552(2)...
Certificates of deposit as defined in section 56(5).
(1) Any loan or other investment as to which the...
(1) In this Schedule— “scheme” means a scheme which is...
When two or more contributions are paid at the same...
The question whether any, and if so, what, relief is...
No relief shall be given in respect of the payment...
No relief shall be given in respect of the payment...
The amount of the reduction to be made in respect...
(1) For the purposes of this Schedule, and subject to...
The provisions of this Part of this Schedule shall have...
There shall be ascertained— (a) the total amount of those...
For the purpose of determining what deduction is to be...
(1) The Board may make regulations providing for this Schedule...
(1) The administrator of a scheme in relation to which...
(1) Subject to paragraph 4(4) below, where a valuation produced...
(1) Where a valuation has been produced under paragraph 2...
(1) Where particulars have been furnished under paragraph 4 above,...
(1) Where proposals are submitted to the Board under paragraph...
(1) Where this paragraph applies the Board may specify a...
(1) This paragraph applies if a calculation falls to be...
(1) The Board may make regulations providing that an appeal...
(1) This Schedule shall be deemed to have come into...
(1) This paragraph applies where an employee becomes a member...
(1) This paragraph applies where an employee becomes a member...
(1) This paragraph applies where an employee becomes a member...
(1) This paragraph applies where an employee becomes a member...
(1) This paragraph applies where— (a) the rules of the...
(1) This paragraph applies where an employee who is a...
In this Schedule “relevant annual remuneration” means final remuneration or,...
(1) In this Schedule— . . . . . ....
(1) This paragraph applies in any case where, under a...
(1) Where, in the case of a manufactured dividend, the...
(1) Where a manufactured dividend to which paragraph 2(2) above...
(1) This paragraph applies (subject to paragraph 3A below) in...
(1) Where any manufactured interest is representative of interest on...
(1) This paragraph applies in any case where, under a...
(1) A reference in paragraph 4(4)(a) or (b) to the...
(1) Sub-paragraph (2) below applies in any case where, under...
(1) This paragraph applies where a person makes an unapproved...
(1) . . . In any case where (apart from...
(1) This paragraph applies in any case where—
(1) Dividend manufacturing regulations may make provision for—
(1) In this Schedule— “the date of the change” shall...
(1) This Schedule applies to any retirement benefits scheme which...
(1) The Board may refuse or withhold approval under paragraph...
(1) The Board may give directions for or in connection...
An approved retirement benefits scheme shall be taken to include...
(1) The company shall be assumed to be resident in...
(1) Subject to paragraph 12 below, if, in an accounting...
(1) This paragraph applies in any case where it appears...
(1) This paragraph applies where by virtue of section 747A...
For the purposes of the application of Part 18 of...
Paragraphs 14 to 19 below apply for the purposes of...
(1) This paragraph applies where— (a) by virtue of section...
Where the accounting period mentioned in section 139(1) of the...
(1) This paragraph applies where the last relevant accounting period...
Where by virtue of section 747A the company’s chargeable profits...
(1) This paragraph applies where the accounting period mentioned in...
(1) This paragraph applies where— (a) Chapter II of Part...
(1) The company shall be assumed to have become resident...
(1) Sub-paragraph (2) of paragraph 5 of Schedule 28AA (no...
The company shall be assumed not to be a close...
(1) Subject to sub-paragraph (2) below, where any relief under...
(1) The company shall be assumed to be neither a...
(1) In relation to section 247 it shall be assumed—...
The company shall be assumed not to be a subsidiary...
Without prejudice to the operation of Chapter 1 of Part...
(1) . . . This paragraph applies in any case...
The provisions of this Part of this Schedule have effect...
Goods which are actually delivered into the territory in which...
(1) For the purposes of paragraph 6(2)(b) above, each of...
(1) This paragraph has effect for the interpretation of paragraph...
(1) In paragraph 11A above “ large risks ” means—...
(1) Subject to sub-paragraph (2) below, in paragraphs 6 and...
(1) In paragraphs 6, 8(3) and 12(5) above and this...
(1) For the purposes of section 748(1)(ba), a controlled foreign...
(1) The requirement of this paragraph is that throughout the...
(1) The requirement of this paragraph is that—
(1) The requirement of this paragraph is that C does...
(1) The requirement of this paragraph is that not more...
(1) References in this Part of this Schedule to C's...
(1) For the purposes of section 748(1)(bb), a company (“C”)...
(1) The requirement of this paragraph is that throughout the...
(1) The requirement of this paragraph is that C's main...
(1) The requirement of this paragraph is that—
(1) The requirement of this paragraph is that C does...
The requirement of this paragraph is that not more than...
(1) For the purpose of this Part of this Schedule—...
(1) The provisions of this Part of this Schedule have...
(1) The condition in paragraph 13(2) above is not fulfilled...
(1) References in this Part of this Schedule to shares...
The provisions of this Part of this Schedule have effect...
(1) An exempt period begins in relation to a company...
(1) The requirements of this paragraph are that—
(1) The requirements of this paragraph are that—
(1) This paragraph applies for the purposes of paragraph 15C...
(1) An exempt period ends on the expiry of the...
(1) In this Part of this Schedule— “ group ”...
(1) The provisions of this Part of this Schedule have...
(1) A transaction achieves a reduction in United Kingdom tax...
It is the main purpose or one of the main...
(1) The existence of a controlled foreign company achieves a...
(1) Subject to paragraph 2A below, a controlled foreign company...
(1) Paragraph 2 above shall have effect in accordance with...
(1) This paragraph has effect for the purposes of paragraph...
(1) Subject to sub-paragraphs (2) and (5) below, for the...
(1) For the purposes of this Part of this Schedule,...
(1) This paragraph has effect for the purposes of paragraph...
(1) The provisions of this Part of this Schedule have...
(1) Throughout an accounting period a controlled foreign company is...
(1) For the purposes of paragraph 6(1)(a) above, a “business...
(1) Subject to sub-paragraph (4) below, the condition in paragraph...
(1) Subject to sub-paragraph (3) below, for the purposes of...
(1) In any case where— (a) an amount of chargeable...
(1) In any case where— (a) an amount of chargeable...
(1) This paragraph applies in any case where—
(1) This paragraph applies in any case where—
(1) In so far as any provision of—
(1) In any case where— (a) on a claim for...
(1) For the purposes of this Chapter, an offshore fund...
(1) In any case where the assets of an offshore...
(1) In relation to an offshore fund which has a...
(1) Section 760(3)(c) shall not apply to so much of...
(1) In any case where— (a) in any account period...
If, in the case of any account period of an...
(1) The Board shall, in such manner as they think...
(1) An appeal . . . —
No appeal may be brought against an assessment to tax...
(1) Without prejudice to paragraph 17 above, in any case...
(1) This paragraph applies where— (a) an application has been...
(1) In the case of an offshore fund which throughout...
No obligation as to secrecy imposed by statute or otherwise...
(1) The Treasury may make provision by regulations as to...
(1) Sub-paragraph (2) below applies if any sums which form...
(1) To the extent that the income of an offshore...
(1) Any reference in this Schedule to the United Kingdom...
(1) In any case where— (a) in an account period...
The modification referred to in paragraph 6(3)(a) above is that,...
(1) The modification referred to in paragraph 6(3)(b) above is...
(1) The references in paragraphs 7 and 8(1) above to...
In this Part of this Schedule “material disposal” means a...
(1) Where there is a material disposal, there shall first...
(1) If the amount of any chargeable gain or allowable...
(1) This paragraph applies where— (a) the interest in the...
(1) Subject to sub-paragraph (2) below, a material disposal gives...
(1) Subject to paragraph 7 below, a disposal to which...
(1) For the purposes of this Part of this Schedule,...
(1) On a disposal involving an equalisation element, the Part...
(1) The Treasury may make provision by regulations as to...
The provisions referred to in section 768B(2) for determining whether...
(1) This paragraph has effect in a case to which...
(1) This paragraph has effect in any case to which...
(1) A debit falls within this paragraph if it is...
Expressions used both in this Part of this Schedule and...
(1) The amounts in issue referred to in section 768C(3)(c)...
Paragraph 6A above shall apply for the purposes of paragraph...
The apportionment required by section 768C(3)(c) shall be made as...
In the case of the amount mentioned in paragraph 13(1)(a)...
(1) Subject to paragraph 17 below, the apportionment shall be...
If it appears that any method of apportionment given by...
There is a significant increase in the amount of a...
(1) Amount A is the lower of—
(1) Amount B is the highest 60 day minimum amount...
(1) The capital of a company consists of the aggregate...
The amounts in issue referred to in section 768B(4)(c) are—...
For the purposes of paragraph 6(da) above, the amount for...
(1) Subject to paragraph 8 below, the apportionment required by...
If it appears that any method of apportionment given by...
(1) This paragraph has effect in a case to which...
(1) This paragraph has effect in any case to which...
(1) This Schedule applies where— (a) provision (“the actual provision")...
This Schedule does not apply in relation to provision made...
(1) This paragraph applies where any person (“the taxpayer") carries...
(1) Sub-paragraph (4) applies in so far as—
(1) Nothing in this Schedule shall be construed as affecting—...
(1) In this Schedule— “the actual provision” and “the affected...
(1) This paragraph applies where— (a) both of the affected...
(1) This paragraph applies where the actual provision is made...
(1) This Schedule shall be construed (subject to paragraphs 9...
(1) In this Schedule “transaction” includes arrangements, understandings and mutual...
(1) For the purposes of this Schedule a person is...
(1) A person (“P”) shall be treated for the purposes...
(1) To the extent that it applies to provision relating...
(1) For the purposes of this Schedule . . ....
(1) Paragraph 1(2) above does not apply in computing for...
(1) Paragraph 1(2) above does not apply in computing for...
(1) Paragraph 5B(1) above does not apply as respects any...
(1) In this Schedule— (a) “small enterprise” means a small...
(1) In this Schedule— “non-qualifying territory” means any territory which...
(1) This paragraph applies where— (a) only one of the...
(1) Paragraph 6(2)(a) above does not affect the credits to...
(1) This paragraph applies in any case where—
(1) Where paragraph 1A above applies in relation to any...
Where— (a) interest is paid by any person under the...
(1) Subject to sub-paragraph (4) below, where—
(1) This paragraph applies where— (a) the circumstances are as...
(1) This paragraph applies in any case where—
(1) This paragraph applies in any case where—
(1) This paragraph applies where the following conditions are satisfied—...
(1) Subject to sub-paragraph (3)and sub-paragraph (4) below, this Schedule...
(1) Subject to paragraph 10 below, this paragraph applies to...
Section 804ZA: prescribed schemes and arrangements
(1) A scheme or arrangement, other than a scheme or...
This paragraph applies to a scheme or arrangement if the...
(1) This paragraph applies to a scheme or arrangement if,...
(1) This paragraph applies to a scheme or arrangement if...
(1) This paragraph applies to a scheme or arrangement if,...
(1) This paragraph applies to a scheme or arrangement if...
Venture Capital Trusts: Meaning of “qualifying holdings”
(1) This Schedule applies, where any shares in or securities...
(1) Subject to the following provisions of this paragraph, a...
(1) The requirement of this paragraph is that there are...
(1) The requirement of this paragraph is that eligible shares...
(1) This paragraph applies where— (a) arrangements are made for...
(1) This paragraph applies where— (a) shares have been issued...
None of the requirements of this Schedule shall be regarded,...
(1) A company which is in administration or receivership shall...
(1) The Treasury may by regulations make provision for cases...
The Treasury may by order amend this Schedule for any...
(1) Subject to paragraph 10C(15) above, in this Schedule— “debenture”...
(1) The requirement of this paragraph is that the relevant...
(1) The requirements of this paragraph are as follows.
(1) For the purposes of this Schedule—
(1) In paragraph 4 above— “film” means an original master...
(1) For the purposes of this Schedule, a company (“the...
(1) The requirements of this paragraph are that either—
(1) The requirement of this paragraph is that the relevant...
(1) The requirement of this paragraph is that the value...
(1) The Taxes Management Act 1970, as amended by the...
In section 7 of the Friendly Societies Act 1974 at...
The Taxes Management Act 1970 shall have effect subject to...
In paragraph 36(3) of Schedule 2 to the Administration of...
In Schedule 1 to the Law Reform (Miscellaneous Provisions) (Scotland)...
In the enactments specified in Column 1 of the following...
The following section shall be inserted after section 16—[for text...
(1) . . . . . . . . ....
(1) In subsection (1) of section 55 (recovery of tax...
The following Table shall be substituted for the Table in...
(1) In this paragraph, an “old company” means a company...
(1) Sub-paragraph (2) below applies to any disposition which —...
(1) Where, in the case of any settlement made before...
Where, in the case of any settlement made before 9th...
Where under any Act passed before this Act and relating...
The repeal by this Act of section 16 of the...
The repeal by this Act of Schedule 22 to the...
Any enactment relating to building societies contained in this Act...
Any reference to pension business in any enactment (other than...
Schedule 9 to the Finance Act 1981 shall continue to...
(1) This paragraph applies in any case where a person...
The repeal by this Act of section 21 of the...
(1) Subject to sub-paragraph (2) and paragraph 3 below, section...
The repeal by this Act of section 54 of and...
(1) The continuity of the operation of the Tax Acts...
(1) Sections 24 and 38 shall have effect subject to...
(1) Where section 38 does not have effect, the following...
(1) This paragraph has effect for allowing deductions by reference...
(1) The substitution of this Act for the corresponding enactments...
(1) This paragraph shall apply with respect to claims for...
Without prejudice to paragraphs 6 and 7 above, where a...
(1) In relation to any period before regulations containing the...
(1) The provisions of this Schedule have effect for supplementing...
(1) This paragraph applies where a permanent establishment—
In accordance with the separate enterprise principle, transactions between the...
(1) Section 11AA(4) (general provision as to allowable deductions) applies...
(1) No deduction is allowed in respect of royalties paid,...
(1) No deduction is allowed in respect of payments of...
(1) This paragraph applies where the non-resident company provides the...
(1) The provisions of this Part of this Schedule have...
(1) In accordance with the separate enterprise principle, transfers of...
(1) In accordance with the separate enterprise principle, loans and...
The provisions of this Schedule supplement section 13AB (corporation tax:...
(1) The basic rule is that the allocation of excess...
(1) This paragraph applies where an amount of excess NCDs...
(1) The provisions of this Part of this Schedule as...
(1) Any excess NCDs not allocated to another company under...
(1) For the purposes of section 13AB and this Schedule...
(1) Section 13AB and this Schedule apply in relation to...
For the purposes of section 13AB and this Schedule, a...
(1) For the purposes of section 13AB and this Schedule...
In section 13AB and this Schedule— “basic profits” means the...
(1) A “non-corporate distribution” means a distribution made by a...
(1) A company’s underlying rate of corporation tax for an...
Where in an accounting period the total amount of the...
Where in an accounting period the total amount of the...
(1) This Part of this Schedule provides for the allocation...
(1) If at the end of the distribution period the...
(1) Excess NCDs falling to be allocated to another company...
(1) This paragraph applies where a company (“company A”) ceases...
Other sections — not classified into a Part
These sections sit outside the numbered Parts — usually provisions added or moved by later amendments.
Investment trusts investing in housing.
Amended 8 timesInterpretation of section 508A.
Amended 8 timesDefinition of relevant statutory scheme.
Amended 9 timesBrowse 2 other sections
Corporation tax: the non-corporate distribution rate: supplementary provisions
Determination of profits attributable to permanent establishment: supplementary provisions
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
HM Revenue & Customs
Tax collection, customs duties, national insurance, tax credits, and enforcement of the National Minimum Wage. Regulates all UK businesses for tax compliance …
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