| Guvnor

Status: In Force

What it defines

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

113 other provisions — procedural and definitional

s.001 Rates of tobacco products duty

s.002 Rate of duty on beer

s.003 Rates of duty on wine and made-wine

s.004 Consolidation of current rates of hydrocarbon oil duties

s.005 Rates of hydrocarbon oil duties etc. from 1st September 2005

s.006 Rates of gaming duty

s.007 Rates

s.008 Charge and rates for 2005-06

s.009 Personal allowances for those aged 65 or more

s.010 Charge and main rate for financial year 2006

s.011 Small companies' rate and fraction for financial year 2005

s.012 Corporation tax starting rate and fraction for financial year 2005

s.013 Non-corporate distribution rate for financial year 2005

s.014 Special trust rates not to apply to first slice of trust income

s.015 Childcare vouchers: exempt amount

s.016 Extension of exemptions for childcare, workplace parking, cycles etc

s.017 Transfer of previously loaned computer or cycle etc

s.018 Extension of outplacement services etc exemption: part-time employees

s.019 Armed forces pensions and compensation schemes

s.020 Research institution spin-out companies

s.021 Research institution spin-out companies: pre-2nd December 2004 cases

s.022 Capital gains

s.023 Introduction

s.024 Entitlement to make claim for special tax treatment

s.025 Qualifying trusts income: special income tax treatment

s.026 Amount of relief

s.027 Trustees' liability: TQTI

s.028 Vulnerable person's liability: VQTI

s.028 Disapplication of section 629 of ITTOIA 2005

s.029 Part years

s.030 Qualifying trusts gains: special capital gains tax treatment

s.031 UK resident vulnerable persons: amount of relief

s.032 Non-UK resident vulnerable persons: amount of relief

s.033 Vulnerable person's liability: VQTG

s.034 Disabled persons

s.035 Relevant minors

s.036 Parts of assets

s.037 Vulnerable person election

s.038 Meaning of “disabled person”

s.039 Meaning of “relevant minor”

s.040 Power to make enquiries

s.041 Interpretation etc.

s.042 Application in relation to Scotland

s.043 Penalties under TMA 1970

s.044 Consequential amendments

s.045 Commencement

s.046 Alternative finance arrangements

s.047 Alternative finance arrangements: purchase and re-sale

s.047 Alternative finance arrangements: diminishing shared ownership

s.048 Arrangements within section 47: foreign currency and non-residents

s.048 Alternative finance arrangements: alternative finance investment bond: introduction

s.048 Alternative finance arrangements: alternative finance investment bond: effects

s.049 Alternative finance arrangements: deposit

s.049 Alternative finance arrangements: profit share agency

s.050 Treatment of alternative finance arrangements: companies

s.051 Treatment of alternative finance arrangements: persons other than companies

s.051 Discount

s.052 Provision not at arm's length

s.053 Treatment of section 47 , 47A or 48A arrangements: sale and purchase of asset

s.054 Return not to be treated as distribution

s.054 Treatment of section 47, 49 and 49A arrangements as loans: Community Investment Tax Relief

s.055 Further provisions

s.056 Application of Chapter

s.057 Interpretation of Chapter

s.058 Relief for production and acquisition expenditure on limited-budget films

s.059 Restrictions on relief for production and acquisition expenditure

s.060 Deferred income agreements which exist when relief claimed

s.061 Meaning of “deferred income agreement in respect of a film”

s.062 Deferred income agreements entered into after relief claimed

s.063 Sections 60 to 62: supplementary

s.064 Transitional provision for years of assessment before the year 2005-06

s.065 Corresponding provision in ITTOIA 2005

s.066 When a chargeable event occurs

s.067 Consequences of a chargeable event: exit event X or Y

s.068 Exit event Z: a relevant disposal at an undervalue

s.069 Consequences of a chargeable event: exit event Z

s.070 Valuation of the “rights to guaranteed income” and “disposed rights”

s.071 Meaning of “company” and related terms

s.072 Removal of restrictions on interest relief

s.073 Meaning of “contribution to the trade”

s.074 Recovery of excess relief given under section 380 or 381 of ICTA

s.075 Computing the chargeable amount

s.076 Meaning of “relevant loss”

s.077 Transitional provision for years of assessment before the year 2005-06

s.078 Consequential amendments

s.079 Meaning of “capital contribution to the trade”

s.080 Accounting practice and related matters

s.081 Computation of profits: change of accounting basis

s.082 Change of accounting practice: deferment of transitional adjustments

s.083 Application of accounting standards to securitisation companies

s.084 Taxation of securitisation companies

s.085 Dividends by reference to which a deduction is allowed: no underlying tax

s.086 Limits on credit: income tax and corporation tax: trading profits

s.087 Schemes and arrangements designed to increase relief

s.088 Self-assessment amendments

s.089 ADP dividends and double taxation relief

s.090 Foreign taxation of group as single entity: exclusion of ADP CFCs

s.091 Tax avoidance involving annual payments and double taxation relief

s.092 Capital allowances: renovation of business premises in disadvantaged areas

s.093 Tonnage tax

s.094 Alternative property finance

s.095 Raising of thresholds

s.096 Removal of disadvantaged areas relief for non-residential property

s.097 Demutualisation of insurance companies

s.098 Rates and rate bands for the next three years

s.099 Rate of landfill tax

s.100 Lorry road-user charge

s.101 Pension schemes etc.

s.102 Pension Protection Fund etc.

s.103 Civil partnerships etc

s.104 Repeals

s.105 Interpretation

s.106 Short title

Schedules

0 of 206 shown

206 other schedules

s.sch001 The “ vulnerable person's actual income ” for the tax...

s.sch001 The “ trustees' specially taxed income ” for the tax...

s.sch001 (1) The “vulnerable person's deemed CGT taxable amount” for the...

s.sch001 (1) The “ vulnerable person's notional section 77 gains ”...

s.sch001 (1) “Actual gains” means any chargeable gains which accrue to...

s.sch001 (1) “Assumed gains” means any chargeable gains, other than actual...

s.sch001 (1) For the purposes of paragraph 6 the “relevant assumptions”...

s.sch001a “ Disabled person ” means— (a) a person who by...

s.sch001a A person is to be treated as a disabled person...

s.sch001a A person (“A”) is to be treated as a disabled...

s.sch001a A person is to be treated as a disabled person...

s.sch001a A person (“ A ”) is to be treated as...

s.sch001a A person is to be treated as a disabled person...

s.sch001a In this Schedule— “ armed forces independence payment ” means...

s.sch002 In this Schedule, “ relevant arrangements ” means—

s.sch002 In section 380 of ITTOIA 2005 (funding bonds), references to...

s.sch002 Chapter 2 of Part 15 of ITA 2007 (deduction of...

s.sch002 Chapters 3 to 5 of Part 15 of ITA 2007...

s.sch002 In Chapter 12 of Part 15 of ITA 2007 (funding...

s.sch002 Section 349 of ICTA (certain payments to be made subject...

s.sch002 In section 468L of ICTA (interest distributions), in subsection (9)(a),...

s.sch002 Section 477A of ICTA (building societies: regulations for deduction of...

s.sch002 Sections 480A to 482 of ICTA (relevant deposits: deduction of...

s.sch002 In section 582 of ICTA (funding bonds) references to interest...

s.sch002 Section 787 of ICTA (restriction of relief for payments of...

s.sch002 In paragraph 8(2)(a) of Schedule 10 to FA 1996 (loan...

s.sch003 (1) Section 42 of F(No.2)A 1992 (relief for production or...

s.sch003 (1) In section 48 of F(No.2)A 1997 (which modifies section...

s.sch003 (1) Section 138 of ITTOIA 2005 (certified master versions: production...

s.sch003 (1) Section 138A of ITTOIA 2005 (certified master versions: acquisition...

s.sch003 (1) In section 139 of ITTOIA 2005 (certified master versions:...

s.sch003 (1) In section 140 of ITTOIA 2005 (certified master versions:...

s.sch003 (1) Section 141 of ITTOIA 2005 (“total production expenditure in...

s.sch003 (1) In section 142 of ITTOIA 2005 (when expenditure is...

s.sch003 Section 118ZM of ICTA (partnerships exploiting films: supplementary), as that...

s.sch003 (1) Section 40A of F(No.2)A 1992 (revenue nature of expenditure...

s.sch003 (1) Section 40B of F(No.2)A 1992 (allocation of expenditure to...

s.sch003 (1) Section 101 of FA 2002 (restriction of relief for...

s.sch003 In section 40C of F(No.2)A 1992 (cases where section 40B...

s.sch003 (1) Section 40D of F(No.2)A 1992 (election for sections 40A...

s.sch003 (1) Section 41 of F(No.2)A 1992 (relief for preliminary expenditure)...

s.sch003 (1) Section 42 of F(No.2)A 1992 (relief for production or...

s.sch003 (1) Section 43 of F(No.2)A 1992 (interpretation of provisions relating...

s.sch003 In Schedule 12 to FA 1997 (leasing arrangements: finance leases...

s.sch003 (1) Section 48 of F(No. 2)A 1997 (which modifies section...

s.sch003 (1) Paragraph 116 of Schedule 3 to CAA 2001 (transitional...

s.sch003 Section 99 of FA 2002 (restriction of relief to films...

s.sch003 In Schedule 29 to that Act (gains and losses of...

s.sch003 (1) For section 138 of ITTOIA 2005 (certified master versions:...

s.sch003 (1) ITTOIA 2005 is amended as follows.

s.sch003 (1) The amendment made by paragraph 21(3), so far as...

s.sch003 (1) For the purposes of this Schedule “pre-announcement expenditure” means...

s.sch003 (1) For the purposes of this Schedule a film was...

s.sch003 For the purposes of this Schedule— “film” is to be...

s.sch003 (1) Section 139 of ITTOIA 2005 (certified master versions: production...

s.sch003 (1) Section 140 of ITTOIA 2005 (certified master versions: acquisition...

s.sch003 (1) After section 140 of ITTOIA 2005 insert— Interpretation of...

s.sch003 (1) This paragraph applies in relation to any claim for...

s.sch003 (1) This paragraph applies in relation to relief under section...

s.sch003 (1) Section 42 of F(No.2)A 1992 (relief for production or...

s.sch004 In section 74 of ICTA (general rules as to deductions...

s.sch004 After paragraph 5 of Schedule 9 to FA 1996 insert—...

s.sch004 (1) Paragraph 6 of Schedule 9 to FA 1996 (impairment...

s.sch004 Omit paragraph 6B of Schedule 9 to FA 1996 (impairment...

s.sch004 After paragraph 6C of Schedule 9 to FA 1996 insert—...

s.sch004 (1) The following provisions of Schedule 9 to FA 1996...

s.sch004 (1) Schedule 12 to FA 1997 (leasing arrangements: finance leases...

s.sch004 In section 43A of ICTA (rent factoring: meaning of “finance...

s.sch004 In section 501A of ICTA (supplementary charge in respect of...

s.sch004 (1) Section 747A of ICTA (special rule requiring chargeable profits...

s.sch004 Section 836A of ICTA (meaning of generally accepted accounting practice)...

s.sch004 (1) Section 85B of FA 1996 (loan relationships: amounts recognised...

s.sch004 (1) Section 94A of FA 1996 (loan relationships with embedded...

s.sch004 (1) Section 89 of ICTA (debts proving to be irrecoverable...

s.sch004 In Schedule 12 to FA 1997 (leasing arrangements: finance leases...

s.sch004 In section 219 of CAA 2001 (finance leases), in subsection...

s.sch004 After paragraph 25 of Schedule 26 to FA 2002 (debits...

s.sch004 In paragraphs 38(1) and (3) and 38A(1) and (3) of...

s.sch004 In paragraph 54 of Schedule 26 to FA 2002 (derivative...

s.sch004 (1) Paragraph 6 of Schedule 29 to FA 2002 (gains...

s.sch004 In paragraph 8(1) of Schedule 29 to FA 2002 for...

s.sch004 (1) Section 94 of ICTA (debts deducted and subsequently released)...

s.sch004 In paragraphs 9(1), 12(1), 14(1), 16(1), 17(1), 26(1)(a), 103(2) and...

s.sch004 In paragraph 13(1)(a) of Schedule 29 to FA 2002 for...

s.sch004 In paragraphs 27 and 28 of Schedule 29 to FA...

s.sch004 In paragraph 29 of Schedule 29 to FA 2002 (intangible...

s.sch004 In Part 7 of Schedule 29 to FA 2002 (intangible...

s.sch004 For paragraph 116A of Schedule 29 to FA 2002 (intangible...

s.sch004 (1) Paragraph 134 of Schedule 29 to FA 2002 (intangible...

s.sch004 In paragraph 143 of Schedule 29 to FA 2002 (intangible...

s.sch004 In Schedule 5 to ITEPA 2003 (enterprise management incentives), in...

s.sch004 In section 50 of FA 2004 (generally accepted accounting practice),...

s.sch004 (1) Section 103 of ICTA (receipts after discontinuance) is amended...

s.sch004 In sections 50(6), 51(6), 52(3) and 54(2) of FA 2004...

s.sch004 In Part 4 of Schedule 10 to FA 2004 (amendments...

s.sch004 (1) This paragraph applies to regulations under any of the...

s.sch004 In section 799 of ICTA (double taxation relief: computation of...

s.sch004 In section 834(1) of ICTA (interpretation of the Corporation Tax...

s.sch006 After Part 3 of CAA 2001 insert— PART 3A BUSINESS...

s.sch006 In section 573(1) of CAA 2001 (transfers treated as sales),...

s.sch006 (1) Part 2 of Schedule 1 to CAA 2001 (list...

s.sch006 In section 1(2) of CAA 2001 (capital allowances provided for...

s.sch006 In section 2(3) of CAA 2001 (provisions about giving effect...

s.sch006 In section 3 of CAA 2001 (claims for capital allowances)...

s.sch006 In section 537(1) of CAA 2001 (general conditions for making...

s.sch006 In section 546 of CAA 2001 (interpretation of VAT provisions),...

s.sch006 In section 567(1) of CAA 2001 (Parts of Act for...

s.sch006 In section 570(1) of CAA 2001 (elections under section 569...

s.sch006 In section 570A(1) of CAA 2001 (avoidance affecting proceeds of...

s.sch007 Schedule 22 to FA 2000 shall be amended as follows....

s.sch007 After paragraph 22E insert— Flagging: restrictions where ship ceases to...

s.sch007 After paragraph 43 insert— The requirement to prove compliance with...

s.sch007 (1) Paragraph 68 is amended as follows.

s.sch007 (1) Paragraph 85 is amended as follows.

s.sch007 (1) Paragraph 92 is amended as follows.

s.sch007 (1) Paragraph 104 is amended as follows.

s.sch007 Omit paragraph 105.

s.sch007 (1) Paragraph 147 is amended as follows.

s.sch007 (1) Subject to paragraphs 19 to 21, paragraphs 4 to...

s.sch007 (1) If a withdrawal notice is given on or before...

s.sch007 (1) Paragraph 13 is amended as follows.

s.sch007 In relation to the financial year 2005, Schedule 22 to...

s.sch007 Where a company (whether or not a member of a...

s.sch007 After paragraph 15 (and before Part 3) insert— Withdrawal notices...

s.sch007 (1) Paragraph 19 is amended as follows.

s.sch007 (1) Paragraph 20 is amended as follows.

s.sch007 After paragraph 20 insert— Qualifying dredgers and tugs (1) This paragraph applies where a company operates a ship...

s.sch007 (1) Paragraph 22 is amended as follows.

s.sch007 After paragraph 22 insert— Flagging: rule for ships other than...

s.sch007 After paragraph 22C insert— Flagging: rule on first operation of...

s.sch008 Part 4 of FA 2003 is amended in accordance with...

s.sch008 After section 71 insert— Alternative property finance: land sold to...

s.sch008 (1) Section 72 (alternative property finance: land sold to financial...

s.sch008 After section 72 insert— Alternative property finance in Scotland: land...

s.sch008 (1) Section 73 (alternative property finance: land sold to individual...

s.sch008 In section 122 (index of defined expressions), in the entry...

s.sch008 (1) Paragraphs 2 and 3, and paragraphs 5 and 6...

s.sch009 (1) Schedule 6 to FA 2003 (disadvantaged areas relief) is...

s.sch009 (1) The Stamp Duty (Disadvantaged Areas) (Application of Exemptions) Regulations...

s.sch009 (1) Subject to sub-paragraph (2), paragraph 1 applies in relation...

s.sch010 Part 4 of FA 2004 (pension schemes etc.) is amended...

s.sch010 In the table in section 280(2) (index of defined expressions),...

s.sch010 (1) Paragraph 2 of Schedule 28 (scheme pensions) is amended...

s.sch010 In Schedule 28 (authorised pensions), after paragraph 2 insert— (1) Where this paragraph applies in relation to a pension...

s.sch010 (1) Paragraph 3 of Schedule 28 (lifetime annuity) is amended...

s.sch010 (1) Paragraph 6 of Schedule 28 (short-term annuity) is amended...

s.sch010 (1) Paragraph 17 of Schedule 28 (dependants' annuity) is amended...

s.sch010 (1) Paragraph 20 of Schedule 28 (dependants' short-term annuity) is...

s.sch010 In the table in section 280(2) (index of defined expressions),...

s.sch010 (1) Paragraph 8 of Schedule 28 (member's unsecured pension fund)...

s.sch010 (1) Paragraph 10 of Schedule 28 (“unsecured pension years” etc.)...

s.sch010 In section 153(8) (deferred annuity contract to be registered pension...

s.sch010 (1) Paragraph 22 of Schedule 28 (dependant's unsecured pension fund)...

s.sch010 (1) Paragraph 24 of Schedule 28 (“unsecured pension years” etc.)...

s.sch010 In paragraph 3(8) of Schedule 29 (pension commencement lump sum:...

s.sch010 (1) Schedule 32 (benefit crystallisation events: supplementary) is amended as...

s.sch010 In paragraph 15 of Schedule 28 (meaning of “dependant”), after...

s.sch010 (1) Paragraph 16 of Schedule 28 (dependants' scheme pension) is...

s.sch010 In Schedule 28 (authorised pensions), after paragraph 16 insert— (1) Paragraphs 16B and 16C apply where—

s.sch010 (1) Paragraph 17 of Schedule 28 (dependants' annuity) is amended...

s.sch010 In section 153 (registration of pension schemes), after subsection (8)...

s.sch010 (1) Paragraph 3 of Schedule 29 (pension commencement lump sum:...

s.sch010 In the table in section 216(1) (benefit crystallisation events and...

s.sch010 In paragraph 4(1) of Schedule 32 (benefit crystallisation events 4:...

s.sch010 In the table in section 280(2) (index of defined expressions),...

s.sch010 (1) Paragraph 1 of Schedule 29 (meaning of “pension commencement...

s.sch010 (1) Paragraph 3 of Schedule 29 (applicable amount limit) is...

s.sch010 In section 169 (recognised transfers), after subsection (1) insert—

s.sch010 (1) Section 172 (assignment of benefit to which member has...

s.sch010 After section 172 insert— Surrender (1) Subsection (2) applies if a member of a registered...

s.sch010 After section 196 insert— Power to restrict relief (1) The Board of Inland Revenue may make regulations for...

s.sch010 After section 266 insert— Relief from liability in respect of...

s.sch010 After section 246 insert— Case where no relief for provision...

s.sch010 In section 215 (amount of lifetime allowance charge), omit—

s.sch010 In the table in section 216(1) (benefit crystallisation events and...

s.sch010 (1) Schedule 32 (benefit crystallisation events: supplementary) is amended as...

s.sch010 (1) Section 220 (lifetime allowance enhancement factor in case of...

s.sch010 In paragraph 4(c) of Schedule 33 (meaning of “relevant migrant...

s.sch010 In section 251(4)(a) (persons to whom scheme administrators can be...

s.sch010 After section 255 insert— Payment Electronic payment (1) The Board of Inland Revenue may give directions requiring...

s.sch010 (1) After section 273 insert— Insurance company liable as scheme...

s.sch010 In section 161(5) (payment made to person who is connected...

s.sch010 Before section 275 insert— Power to split schemes (1) The Board of Inland Revenue may make regulations for...

s.sch010 In paragraph 3(2) of Schedule 36 (power to modify rules...

s.sch010 (1) Schedule 36 (transitional provisions) is amended as follows.

s.sch010 In Schedule 36 (transitional provisions), after paragraph 23 insert— (1) Where— (a) paragraph 19 applies to a benefit crystallisation...

s.sch010 In the substituted sub-paragraph (7) set out in paragraph 34(2)...

s.sch010 (1) Schedule 36 (transitional provisions) is amended as follows.

s.sch010 In section 636B(3) of ITEPA 2003 (trivial commutation and winding-up...

s.sch010 (1) Section 162 (meaning of “loan”) is amended as follows....

s.sch010 In section 683(3) of ITEPA 2003 (PAYE pension income), after...

s.sch010 In Schedule 36 to FA 2004 (transitional provisions), omit—

s.sch010 In sections 348(1A) and 349(1A) of ICTA (deduction of tax),...

s.sch010 Section 613(1) and (2) of ICTA (tax relief for contributions...

s.sch010 (1) Subject as follows, the preceding provisions of this Schedule...

s.sch010 In section 165(3) (when a person becomes entitled to a...

s.sch010 (1) Schedule 32 (benefit crystallisation events: supplementary) is amended as...

s.sch010 In section 279(1) (definitions), before the definition of “the Board...

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.

Finance Act 2005

What it defines

Schedules