(1) The trust deed must contain provision as to the...
- Include mandatory beneficiary rules in employee share trust deed
UK Act of Parliament
1989
United Kingdom
Finance Act 1989
At a glance
What's here
4 compliance obligations
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.
Schedules
(1) The trust deed must contain provision as to the...
- Include trustee functions in your share scheme trust deed
(1) The trust deed must require that any sum received...
- Include trust deed rules for handling sums received by trustees
(1) Subject to paragraph 8 below, the trust deed must...
- Ensure employee share trust only buys qualifying shares in the founding company
Browse 167 other Schedules — structural / supplementary
Schedule 2 para.3
For Group 8 (construction of buildings etc.) of Schedule 5...
In Schedule 1 (registration) to the Value Added Tax Act...
In Schedule 2 (supplies of goods and services) to the...
(1) Subject to sub-paragraphs (2) and (3) and paragraph 13...
(1) Subject to sub-paragraph (3) below, the amendments made by...
(1) Group 8A (protected buildings) of that Schedule shall be...
In Group 11 (caravans and houseboats) of that Schedule, for...
(1) For Group 1 (land) of Schedule 6 (exemptions) to...
The following section shall be substituted for section 21 (refund...
(1) The following section shall be inserted in the ValueAdded...
In section 42 (adjustment of consideration on changes in tax)...
In section 45(4) (orders etc.) of the Value Added TaxAct...
In section 48 (interpretation) of the Value Added Tax Act...
The Taxes Act 1988 shall be amended in accordance with...
(1) Paragraphs 13(2) and 14(2) of Schedule 8 (which provide...
At the end of paragraph 13 of Schedule 8 (calculation...
In paragraph 14 of Schedule 8 (calculation of distributable pool...
At the end of paragraph 14 of Schedule 8 there...
(1) Paragraph 19 of Schedule 8 (profit and loss account...
After paragraph 20 of Schedule 8 there shall be inserted—...
(1) In section 171(4) (limit on pay of which half...
After section 177 there shall be inserted— Death of scheme...
(1) Section 178 (cancellation of registration) shall be amended as...
At the end of section 179 (recovery of tax) there...
At the end of section 180 (annual returns) there shall...
At the end of section 181 (information) there shall be...
(1) Section 182 (appeals) shall be amended as follows.
(1) Paragraph 7 of Schedule 8 (no payments for employees...
A trust is a qualifying employee share ownership trust at...
The trust deed must not contain features which are not...
(1) The trust deed must provide that, for the purposes...
A trust which was at the time it was established...
(1) Subject to sub-paragraphs (2) and (3) below, a trust...
A trust is an employee share ownership trust at a...
For the purposes of this Schedule the following are securities—...
For the purposes of this Schedule, the question whether one...
(1) For the purposes of this Schedule a person shall...
For the purposes of this Schedule a trust is established...
For the purposes of this Schedule “ SAYE option scheme...
(1) The trust must be established under a deed (the...
(1) The trust deed must provide for the establishment of...
Where a trust is established after the day on which...
(1) The following are the provisions that must be complied...
(1) This paragraph applies where the trust deed provides that...
The trust deed may provide that the trustees may acquire...
(1) The trust deed must provide that—
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Retirement Benefits Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Personal Pension Schemes
Section 433 (profits reserved for policy holders or annuitants) shallcease...
(1) In section 434 (franked investment income etc.), for subsection...
Section 435 (taxation of gains reserved for policy holders and...
In section 436 (annuity and pension business: separate charge on...
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Modification of sections 82 TO 83A, 88 and 89 in relation to overseas life insurance companies
Chapter II of Part XIII of the Taxes Act 1988...
At the end of section 539 there shall be added—...
(1) Section 540 shall be amended as follows.
(1) Section 541 shall be amended as follows.
(1) Section 547 shall be amended as follows.
(1) Section 548 shall be amended as follows.
In section 552, in subsection (2), after paragraph (b) there...
Paragraph 5 above shall have effect in relation to chargeable...
Schedule 4 to the Taxes Act 1988 (deep discount securities)...
(1) Paragraph 1 shall be amended as follows.
The following sub-paragraph shall be inserted after paragraph 4(7)—
In paragraph 11(1) after the words “deep discount security” thereshall...
The following paragraph shall be inserted after paragraph 11—
The following sub-paragraph shall be inserted after paragraph 13(2)—
The following shall be inserted after paragraph 14— Retirement benefit...
(1) For the purposes of this Schedule a deep gain...
(1) Where on a transfer or redemption of a security...
(1) Where, for the purposes of paragraph 5 above and...
(1) Sub-paragraph (2) below applies where— (a) by virtue of...
In a case where— (a) paragraph 5 above would apply...
(1) In a case where— (a) paragraph 5 above would...
In a case where— (a) a security is the subject...
In a case where— (a) a security is the subject...
In a case where paragraph 5 above applies to the...
Section 108 of the Taxation of Chargeable Gains Act 1992...
(1) Sub-paragraph (2) below applies where— (a) a security is...
(1) For the purposes of paragraph 1 above a qualifying...
(1) In a case where— (a) securities have been issued...
(1) In a case where— (a) all the securities issued...
(1) A security which (apart from this paragraph) would be...
(1) Sub-paragraph (2) below applies where— (a) a qualifying indexed...
(1) Sub-paragraph (2) below applies where— (a) a security is...
(1) In a case where— (a) a security is a...
(1) This paragraph applies to a security whose terms contain...
(1) The Treasury may make regulations amending paragraph 2 above...
(1) For the purposes of paragraph 1 above a security...
(1) This paragraph applies where— (a) securities (old securities) of...
(1) This paragraph has effect for the purposes of this...
(1) This paragraph applies if— (a) there is a transfer...
(1) This paragraph applies where— (a) there is a transfer...
(1) Paragraph 5 above applies where there is a redemption...
(1) Where an individual who is entitled to a security...
(1) This paragraph applies where a security is transferred from...
(1) This paragraph applies where a security is transferred from...
In this Part of this Schedule “ the relevant provisions...
(1) In section 214 of the Taxes Act 1988 (chargeable...
(1) Section 360 of the Taxes Act 1988 (loan to...
(1) Section 360A of the Taxes Act 1988 (cases in...
(1) In section 576 of the Taxes Act 1988 (which...
(1) In section 623 of the Taxes Act 1988 (meaning...
(1) In section 644 of the Taxes Act 1988 (meaning...
In section 745 of the Taxes Act 1988 (power to...
(1) Paragraph 7 of Schedule 8 to the Taxes Act...
The inspector may, by notice, require any company which is,...
(1) The inspector may, for the purposes of the relevant...
In the first column of the Table in section 98...
In section 13 of the Taxes Act 1988 (small companies’...
(1) In section 168(11) of the Taxes Act 1988 (cases...
(1) In section 187(3) of the Taxes Act 1988 (cases...
Schedule 4 Rental Payments Advertising revenue (1) The advertising revenue of a programme contractor for an...
Browse 205 other sections — procedural / definitional / commencement
Rates.
Reliefs.
Original gravity of beer.
Blending made-wines
Description as beer.
Rates.
Community buses.
Special machines.
Recovery vehicles.
Powers of Secretary of State with respect to assignment of registrationmarks.
Retention of registration mark pending transfer to another vehicle.
Sale by Secretary of State of rights to particular registration marks.
Registration documents.
Dishonoured cheques.
Estimation of excise duty.
Time limits for proceedings.
Disbursements in Port of London.
Buildings and land.
Sewerage services and water.
News services.
Fuel and power.
Protective boots and helmets.
Incorrect certificates.
Recovery of overpaid VAT.
Administration etc.
Input tax on self-supplies.
Relief from car tax where vehicle leased to the handicapped.
Reliefs from duties and taxes for persons enjoying certain immunities and privileges.
Recovery of overpaid excise duty and car tax.
Charge and rates of income tax for 1989-90.
Age allowance.
Operative date for PAYE.
Married couples.
Charge and rate of corporation tax for financial year 1989.
Corporation tax: small companies.
Schedule E: revised Cases.
Schedule E: assessment on receipts basis.
Schedule E: unpaid emoluments.
Schedule E: unremitted emoluments.
Schedule E: emoluments already paid.
Schedule E: pensions etc.
Schedule E: supplementary.
Schedule D: computation
Companies with investment business and insurance companies: computation
s.45
Relief for interest.
Close company loans: business expansion scheme.
Close company loans: material interest.
Car benefits.
Security assets and services.
Assets used partly for security.
Security: supplementary.
Employees earning £8,500 or more and directors.
Relief.
Eligible contracts.
Certification of contracts.
Medical insurance: supplementary.
Payroll deduction scheme.
Covenanted subscriptions.
British Museum and Natural History Museum.
Profit-related pay.
Savings-related share option schemes.
Profit sharing schemes.
Share option and profit sharing schemes: shares of consortium member.
Employee share schemes: material interest.
Priority share allocations for employees etc.
Tax relief.
Principal charges to tax.
Chargeable events.
Chargeable amounts.
Further charges to tax: borrowing.
Limit on chargeable amount.
Information.
Interpretation.
Retirement benefits schemes.
Non-approved retirement benefits schemes.
Personal pension schemes.
Gilt unit trusts.
Offshore funds operating equalisation arrangements.
Calculation of profits: bonuses
Calculation of profits: policy holders' tax
Unappropriated surplus on valuation
Relevant financial reinsurance contracts
Treatment of profits: life assurance — adjustment consequent on change in Insurance Prudential Sourcebook
Section 82D: treatment of transferors under insurance business transfer schemes
Section 82D: treatment of transferees under insurance business transfer schemes
Receipts to be taken into account.
Meaning of “brought into account”.
Amounts added to long term insurance fund of a company in excess of that company’s loss.
Treatment of surplus where there is a subsequent transfer of business from the company etc.
Changes in recognised accounts: attribution of amounts carried forward under s.432F of Taxes Act 1988
Structural assets
Changes in value of assets brought into account: non-profit companies
Meaning of “appropriate line 51 amount” for purposes of s.83YA
FAFTS: charge in relevant period of account
FAFTS: deduction in subsequent periods of account
Regulations: apportionment and redefining “financial reinsurance arrangement”
Financial reinsurance arrangements: further provision
Contingent loans
Interpretation of sections 85 to 89 and further provisions about insurance companies.
Charge of certain receipts of basic life assurance business.
Excess adjusted life assurance trade profits
Spreading of relief for acquisition expenses.
Management expenses.
Corporation tax: policy holders’ share of profits.
Lower corporation tax rate on certain insurance company profits.
Policy holders’ share of profits.
Modification of sections 82 to 83A, 88 and 89 in relation to overseas life insurance companies.
Life policies etc. held by companies.
Interpretation
Premiums trust funds: stock lending.
Regulations about underwriters etc.
Deep discount securities: amendments.
Deep gain securities.
Treasury securities issued at a discount.
Securities: miscellaneous.
Set-off of ACT where companies remain in the same group.
Restriction on set-off of ACT.
Dividends etc. paid by one member of a group to another.
Change in ownership of company.
Treatment of convertible shares or securities for purposes relating togroup relief etc.
Surrender of company tax refund etc. within group.
Repeal of apportionment provisions.
Meaning of “close company”.
Small companies’ rate not available to certain close companies.
Restriction on payment of tax credits.
Close companies: consequential amendments.
Outright gifts etc. between husband and wife.
Settlements where settlor retains interest in settled property.
Residence of trustees.
Residence of personal representatives.
Security: trades etc.
Security: trades etc. (supplementary).
Relief for pre-trading expenditure.
Double taxation: tax credits.
Interest payments to Netherlands Antilles subsidiaries.
Miscellaneous amendments.
Annual exempt amount for 1989-90.
Increase of chattel exemption.
Relief for gifts.
Gifts to housing associations.
Non-resident carrying on profession or vocation in the United Kingdom.
Non-residents: deemed disposals.
Non-residents: post-cessation disposals.
Non-residents: roll-over relief.
Exploration or exploitation assets: definition.
Exploration or exploitation assets: deemed disposals.
Dual resident companies: deemed disposal.
Dual resident companies: roll-over relief.
Non-payment of tax by non-resident companies.
Value shifting.
Value shifting: reductions attributable to distributions within a group.
Value shifting: transactions treated as a reorganisation of share capital.
Groups of companies.
Corporate bonds.
Collective investment schemes.
Re-basing to 1982 etc.
Power to call for documents and information.
Power to call for papers of tax accountant.
Restrictions on powers under
Falsification etc. of documents.
Entry with warrant to obtain documents.
Procedure where documents etc. are removed.
Interpretation.
Assessments founded on fraudulent or negligent conduct.
Further assessments: claims etc.
Assessment of trustees etc.
Distress for non-payment of tax.
Priority in cases of distraint by others.
Recovery of tax from debtor in Scotland.
Priority in cases of poinding etc. by others in Scotland.
Interest on overdue tax.
Effect of certain claims on interest.
Small amounts of interest.
Interest on tax in case of failure or error.
Determinations under TMA s. 88.
Tax carrying interest under TMA ss. 86 and 88.
Failure to make return.
Incorrect return, accounts etc.
Special returns, information etc.
Special penalties in the case of certain returns.
Assisting in preparation of incorrect return etc.
Determination of penalties.
Amendments consequential on section 167.
Time limits.
Up-rating of certain penalties.
Gifts to housing associations.
Abatement of exemption where claim settled out of beneficiary’s ownresources.
Insurance: abolition of certain duties.
Unit trusts.
Stamp duty: stock exchange nominees
Stamp duty reserve tax: stock exchange nominees
Stamp duty reserve tax: information.
Setting of rates of interest.
Provisions consequential on section 178.
Repayment interest: period of accrual.
Broadcasting: additional payments by programme contractors.
Disclosure of information.
Double taxation: disclosure of information.
Government securities: redemption and transfer.
National savings accounts.
Winding up of Redemption Annuities Account.
Interpretation etc.
Repeals.
Short title.
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