UK Act of Parliament
2005
United Kingdom
Finance (No. 2) Act 2005
At a glance
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
Browse 121 other Schedules — structural / supplementary
In paragraph 1 (interpretation), after the definition of “designated scheme”...
For paragraph 2 substitute— (1) For the purposes of this Schedule, a taxable person...
After paragraph 2 insert— Meaning of “non-deductible tax” (1) In this Schedule “non-deductible tax”, in relation to a...
(1) Paragraph 6 (duty to notify Commissioners) is amended as...
In paragraph 7 (exemptions from duty to notify) in the...
(1) Paragraph 11 (amount of penalty) is amended as follows....
In paragraph 12 (penalty assessments) for sub-paragraph (3) substitute—
ITEPA 2003 is amended as follows.
(1) In section 440 (amount of charge under section 438),...
(1) In section 443 (exception from charge under section 438...
Chapter 3C of Part 7 (securities acquired for less than...
(1) In section 446R (exception from Chapter for certain company...
(1) In section 446U(1) (discharge of notional loan), insert at...
(1) After section 446U insert— Pre-acquisition avoidance cases (1) Sections 446S to 446U do not apply if the...
(1) Section 698 (PAYE: special charges on employment-related securities) is...
Chapter 4 of Part 7 (post-acquisition benefits from securities) is...
(1) Section 447 (charge on other chargeable benefits from securities)...
(1) In section 449 (exception from charge under section 447...
(1) Section 420 (income and exemptions relating to securities: meaning...
(1) Schedule 23 to FA 2003 (corporation tax relief for...
Chapter 2 of Part 7 (restricted securities) is amended as...
(1) Section 424 (employment-related securities which are not restricted securities...
(1) In section 428 (amount of charge under section 426),...
(1) In section 429 (exception from charge under section 426...
(1) After section 431A insert— Securities acquired for purpose of...
Chapter 3 of Part 7 (convertible securities) is amended as...
(1) In section 436(a) (meaning of “convertible securities”), for “immediate...
For the purposes of section 24 a scheme is a...
(1) A scheme satisfies the requirements of this paragraph if...
(1) A scheme satisfies the requirements of this paragraph if...
Section 839 of ICTA has effect for the purposes of...
A scheme falls within this Part if a party to...
(1) An entity is a hybrid entity if—
A scheme falls within this Part if it satisfies the...
(1) A scheme satisfies the requirements of this paragraph if...
(1) A scheme satisfies the requirements of this paragraph if...
(1) A scheme satisfies the requirements of this paragraph if...
(1) A scheme satisfies the requirements of this paragraph if...
A scheme falls within this Part if it satisfies the...
(1) Section 715 of ICTA is amended as follows.
(1) The amendments made by Part 1 of this Schedule...
(1) Section 723 of ICTA is amended as follows.
(1) Section 265 of TCGA 1992 is amended as follows....
(1) Section 275 of TCGA 1992 is amended as follows....
After section 275 of TCGA 1992 insert— Location of certain...
After section 275B of TCGA 1992 (as inserted by paragraph...
(1) Section 16 of TCGA 1992 is amended as follows....
(1) Section 179A of TCGA 1992 is amended as follows....
(1) Schedule 7AC to TCGA 1992 is amended as follows....
(1) Section 144ZA of TCGA 1992 is amended as follows....
After section 144ZA of TCGA 1992 insert— Exception to rule...
(1) Section 105A of TCGA 1992 is amended as follows....
(1) Section 149A of TCGA 1992 is amended as follows....
(1) Section 288 of TCGA 1992 is amended as follows....
(1) The amendments made by paragraphs 1 to 3 have...
(1) In Schedule 22 to FA 2002 (adjustment on change...
In section 103 of FA 1996 (loan relationships: general interpretation),...
In paragraph 54 of Schedule 26 to FA 2002 (derivative...
(1) In section 227 of ITTOIA 2005 (adjustment on change...
(1) For section 259 of ITTOIA 2005 (trading income: meaning...
(1) In Schedule 4 to FA 2005, omit paragraph 6...
(1) In Schedule 9 to FA 1996 (loan relationships: special...
(1) In paragraph 19A of Schedule 9 to FA 1996...
(1) Where— (a) a company is subject to old UK...
(1) In section 116(8A) of TCGA 1992 (reorganisations, conversions and...
(1) The following provisions shall cease to have effect—
(1) Part 2 of ICTA (which, at sections 43A to...
(1) After section 91 of FA 1996 insert the following...
(1) Section 97 of FA 1996 (manufactured interest) is amended...
(1) Section 100 of FA 1996 (money debts etc not...
(1) In section 103 of FA 1996 (interpretation) after subsection...
(1) Schedule 9 to FA 1996 (loan relationships: special computational...
(1) In Schedule 9 to FA 1996 (loan relationships) paragraph...
(1) In Schedule 9 to FA 1996 (loan relationships) paragraph...
(1) In Schedule 9 to FA 1996 (loan relationships) paragraph...
(1) In Schedule 9 to FA 1996 (loan relationships) after...
(1) In Schedule 9 to FA 1996 (loan relationships) paragraph...
(1) Section 730 of ICTA (transfers of income arising from...
(1) In Schedule 11 to FA 1996 (loan relationships: special...
(1) Schedule 13 to FA 1996 (discounted securities: income tax)...
(1) In Schedule 26 to FA 2002 (derivative contracts) paragraph...
(1) In Schedule 26 to FA 2002 (derivative contracts) paragraph...
(1) In Schedule 26 to FA 2002 (derivative contracts) after...
(1) Chapter 8 of Part 4 of ITTOIA 2005 (profits...
(1) In section 768B(10) of ICTA (Part 4 of Schedule...
(1) After section 775 of ICTA (sale by individual of...
(1) Section 807A of ICTA is amended as follows.
(1) In Schedule 23A to ICTA (manufactured dividends and interest)...
(1) Section 48 of TCGA 1992 (consideration due after time...
In TCGA 1992, after section 151C (strips: manipulation of price:...
(1) Section 171 of TCGA 1992 (transfers within a group:...
(1) Schedule 28AA to ICTA (provision not at arm's length)...
(1) In Schedule 9 to FA 1996 (loan relationships: computational...
(1) Paragraph 18 of that Schedule (discounted securities of close...
(1) Except where sub-paragraph (2) or (3) applies, the amendments...
(1) . . . . . . . . ....
(1) Section 12 of ICTA (corporation tax: basis of, and...
(1) Section 444BA of ICTA is amended as follows.
Part 4 of FA 2003 (stamp duty land tax) is...
In Schedule 15 (partnerships) after paragraph 17 insert— Withdrawal of...
For paragraph 3 of Schedule 16 substitute— Bare trustee (1) Subject to sub-paragraph (2), where a person acquires a...
In paragraph 11 of Schedule 17A (cases where assignment of...
In paragraph 15A of Schedule 17A (leases: reduction of rent...
After paragraph 18 of Schedule 17A insert— Loan or deposit...
In section 80 (adjustment where contingency ceases or consideration is...
(1) Subject to sub-paragraph (7), paragraphs 3 to 7 have...
Part 4 of FA 2003 (stamp duty land tax) is...
In section 66 of FA 2003 (transfers involving public bodies)...
In paragraph 2 of Schedule 7 (restrictions on availability of...
In section 45 (contract and conveyance: effect of transfer of...
In paragraph 8 of Schedule 7 (acquisition relief)—
(1) In Schedule 15 (stamp duty land tax: partnerships), paragraph...
(1) Subject to sub-paragraph (2), paragraphs 18 to 20 have...
In paragraph 1 of Schedule 7 (group relief), in sub-paragraph...
In paragraph 3 of Schedule 7 (withdrawal of group relief)—...
In paragraph 4 of Schedule 7 (cases in which group...
After paragraph 4 of Schedule 7 insert— Withdrawal of group...
In Schedule 17A (further provisions relating to leases) in paragraph...
In paragraph 8 of Schedule 7 (acquisition relief)—
In paragraph 9 of Schedule 7 (withdrawal of reconstruction or...
Browse 72 other sections — procedural / definitional / commencement
Goods subject to warehousing regime: place of acquisition or supply
Cars: determination of consideration for fuel supplied for private use
Credit for, or repayment of, overstated or overpaid VAT
Section 3: consequential and supplementary provision
Reverse charge: gas and electricity valuation
Disclosure of value added tax avoidance schemes
Charge to income tax on lump sum
Meaning of “applicable year of assessment” in section 7
Interpretation and commencement
Consequential amendments
Donations to charity by individuals
Employee securities: anti-avoidance
Corporation tax exemption for organisations
Income tax deduction for payments to organisations
Corporation tax deduction for payments to organisations
Open-ended investment companies
Authorised unit trusts and open-ended investment companies
Section 17(3): specific powers
Section 17: commencement and procedure
Unauthorised unit trusts: chargeable gains
Unit trusts: treatment of accumulation units
Section 349B ICTA: exemption for distributions to PEP/ISA managers
Offshore funds
Deduction cases
Rules relating to deductions
Receipts cases
Rule as to qualifying payment
Notices under sections 24 and 26
Amendments relating to company tax returns
Interpretation
Commencement
Temporary non-residents
Trustees both resident and non-resident in a year of assessment
Location of assets etc
Exercise of options etc
Notional transfers within a group
Accounting practice and related matters
Charges on income for the purposes of corporation tax
Avoidance involving financial arrangements
Transfer pricing and loan relationships
Intangible fixed assets
Insurance companies etc
Implementation of the amended Parent/Subsidiary Directive
Territories with a lower level of taxation: reduction of amount of local tax
Lloyd's underwriters: assessment and collection of tax
Energy Act 2004 and Health Protection Agency Act 2004
E-conveyancing
Disclosure of information contained in land transaction returns
Miscellaneous amendments
Power to extend exceptions relating to recognised exchanges
Chargeable gains
Intangible fixed assets
Intangible fixed assets: permanent establishment in another member State
Loan relationships
Derivative contracts
Capital allowances
Stamp duty reserve tax
Bearer instruments: stamp duty and stamp duty reserve tax
Consequential amendments
Residence
Continuity for transitional purposes
Groups
Groups: intangible fixed assets
Held-over gains
Restrictions on set-off of pre-entry losses
Vehicle excise duty: late renewal supplements
Reorganisation of water and sewerage services in Northern Ireland
s.68
Abolition of statutory adjudicator for National Savings and Investments
Repeals
Interpretation
Short title
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