UK Act of Parliament 2007 United Kingdom

Finance Act 2007, Schedule 24 (Penalties for errors)

An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.

Read the Act on legislation.gov.uk (opens in a new tab)
Enforced by
HMRC
Status
In Force
Penalty ceiling
Prosecution 2 of 8 obligations carry an unlimited fine. 1 carries different penalties and 5 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person5 Trader1 Financial Services Firm1

Plus 1 duty on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties
Financial Services Firm — also bound by 167 other Acts

What it requires

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.

Part 1

Charges, rates, thresholds

2 of 16 sections shown
s.008 Remote gaming duty (opens in a new tab) Regulated
  • Pay remote gaming duty to HMRCTrader
s.016 Emissions trading: charges for allocations (opens in a new tab) Regulated
  • Pay for greenhouse gas emission allowancesAny Person
14 other sections in this Part — procedural and definitional
s.001 Charge and rates for 2007-08 (opens in a new tab)
s.002 Charge and main rates for financial year 2008 (opens in a new tab)
s.003 Small companies' rates and fractions for financial year 2007 (opens in a new tab)
s.004 Rates and rate bands for 2010-11 (opens in a new tab)
s.005 Rates of duty on alcoholic liquor (opens in a new tab)
s.006 Rates of tobacco products duty (opens in a new tab)
s.007 Rates of gaming duty (opens in a new tab)
s.009 Amusement machine licence duty (opens in a new tab)
s.010 Fuel duty rates and rebates (opens in a new tab)
s.011 Rates of vehicle excise duty (opens in a new tab)
s.012 Rates of air passenger duty (opens in a new tab)
s.013 Rates of climate change levy (opens in a new tab)
s.014 Rate of aggregates levy (opens in a new tab)
s.015 Rates of landfill tax (opens in a new tab)
Part 2

Environment

0 of 8 sections shown
8 other sections in this Part — procedural and definitional
s.017 Corporation tax deduction for expenditure on energy-saving items (opens in a new tab)
s.018 Extension of income tax deduction for expenditure on energy-saving items (opens in a new tab)
s.019 s.19 (opens in a new tab)
s.020 Income tax exemption for domestic microgeneration (opens in a new tab)
s.021 Renewables obligation certificates for domestic microgeneration (opens in a new tab)
s.022 Aggregates levy: exemption for aggregate removed from railways etc (opens in a new tab)
s.023 Climate change levy: reduced-rate supplies etc (opens in a new tab)
s.024 Landfill tax: bodies concerned with the environment (opens in a new tab)
Part 3

Income tax, corporation tax and capital gains tax

0 of 43 sections shown
43 other sections in this Part — procedural and definitional
s.025 Managed service companies (opens in a new tab)
s.026 Restrictions on trade loss relief for partners (opens in a new tab)
s.027 Extension of restrictions on allowable capital losses (opens in a new tab)
s.028 Restriction on expenses of management (opens in a new tab)
s.029 Life policies etc: effect of rebated or reinvested commission (opens in a new tab)
s.030 Avoidance involving financial arrangements (opens in a new tab)
s.031 Companies carrying on business of leasing plant or machinery (opens in a new tab)
s.032 Restrictions on companies buying losses or gains: tax avoidance schemes (opens in a new tab)
s.033 Lloyd's corporate members: restriction of group relief (opens in a new tab)
s.034 Employee benefit contributions (opens in a new tab)
s.035 Schemes etc designed to increase double taxation relief (opens in a new tab)
s.036 Industrial and agricultural buildings allowances (opens in a new tab)
s.037 Temporary increase in first-year capital allowances for small enterprises (opens in a new tab)
s.038 Insurance companies: gross roll-up business etc (opens in a new tab)
s.039 Insurance companies: basis of taxation etc (opens in a new tab)
s.040 Insurance companies: transfers etc (opens in a new tab)
s.041 Insurance companies: miscellaneous (opens in a new tab)
s.042 Technical provisions made by general insurers (opens in a new tab)
s.043 Lloyd's: cessation of business by corporate members (opens in a new tab)
s.044 Transfers of business by friendly societies to insurance companies etc (opens in a new tab)
s.045 Tax exempt business of friendly societies (opens in a new tab)
s.046 Purchased life annuities: self-assessment (opens in a new tab)
s.047 Sale and repurchase of securities (opens in a new tab)
s.048 Controlled foreign companies (opens in a new tab)
s.049 Vaccine research relief: amount of deduction for SMEs (opens in a new tab)
s.050 Research and development tax relief: definition of (opens in a new tab)
s.051 Venture capital schemes etc (opens in a new tab)
s.052 Real Estate Investment Trusts (opens in a new tab)
s.053 Alternative finance investment bond (opens in a new tab)
s.054 Profit share agency (opens in a new tab)
s.055 Trust income (opens in a new tab)
s.056 Trust gains on contracts for life insurance (opens in a new tab)
s.057 Offshore funds (opens in a new tab)
s.058 Election out of special film rules for film production companies (opens in a new tab)
s.059 Securitisation companies (opens in a new tab)
s.060 Gift aid: limits (opens in a new tab)
s.061 Enterprise management incentives: excluded activities (opens in a new tab)
s.062 Benefits code: whether employment is “lower-paid employment” (opens in a new tab)
s.063 Armed forces redundancy schemes (opens in a new tab)
s.064 Armed forces: the Operational Allowance (opens in a new tab)
s.065 Service charge income (opens in a new tab)
s.066 Charge on benefits received by former owner of property: late elections (opens in a new tab)
s.067 Unpaid remuneration and employee benefit contributions (opens in a new tab)
Part 4

Pensions

0 of 3 sections shown
3 other sections in this Part — procedural and definitional
s.068 Abolition of contributions relief for life assurance premium contributions (opens in a new tab)
s.069 Alternatively secured pensions etc (opens in a new tab)
s.070 Miscellaneous (opens in a new tab)
Part 5

SDLT, stamp duty and SDRT

0 of 11 sections shown
11 other sections in this Part — procedural and definitional
s.071 Anti-avoidance (opens in a new tab)
s.072 Partnerships (opens in a new tab)
s.073 Exemptions: intermediaries, repurchases etc (opens in a new tab)
s.074 Acquisition relief: disregard of company holding own shares (opens in a new tab)
s.075 SDLT: alternative finance arrangements (opens in a new tab)
s.076 SDLT: exchanges (opens in a new tab)
s.077 SDLT: shared ownership trusts (opens in a new tab)
s.078 SDLT: shared ownership lease (opens in a new tab)
s.079 Certain transfers of school land (opens in a new tab)
s.080 Payment of tax (opens in a new tab)
s.081 Self-certificate declarations (opens in a new tab)
Part 6

Investigation, administration etc

0 of 16 sections shown
16 other sections in this Part — procedural and definitional
s.082 Criminal investigations: powers of Revenue and Customs (opens in a new tab)
s.083 Northern Ireland criminal investigations (opens in a new tab)
s.084 Sections 82 and 83: supplementary (opens in a new tab)
s.085 Criminal investigations: Scotland (opens in a new tab)
s.086 Search warrants (opens in a new tab)
s.087 Cross-border exercise of powers (opens in a new tab)
s.088 Personal tax returns (opens in a new tab)
s.089 Trustee's tax return (opens in a new tab)
s.090 Partnership tax returns (opens in a new tab)
s.091 Consequential amendments (opens in a new tab)
s.092 Commencement (opens in a new tab)
s.093 Mandatory electronic filing of returns (opens in a new tab)
s.094 Mandatory electronic payment (opens in a new tab)
s.095 Payment by cheque (opens in a new tab)
s.096 Enquiry into returns (opens in a new tab)
s.097 Penalties for errors (opens in a new tab)
Part 7

Miscellaneous

3 of 15 sections shown
s.107 Limitation period in old actions for mistake of law relating to direct tax (opens in a new tab)

amended 1 time (opens in a new tab)

s.108 Disclosure of tax avoidance schemes (opens in a new tab)

amended 1 time (opens in a new tab)

s.110 Mergers Directive: regulations (opens in a new tab)

amended 1 time (opens in a new tab)

12 other sections in this Part — procedural and definitional
s.098 s.98 (opens in a new tab)
s.099 VAT: non-business use etc of business goods (opens in a new tab)
s.100 VAT: transfers of going concerns (opens in a new tab)
s.101 IPT: meaning of “premium” (opens in a new tab)
s.102 Abolition of (opens in a new tab)
s.103 Tax-exempt tariffing receipts (opens in a new tab)
s.104 Allowance of unrelievable loss from abandoned field (opens in a new tab)
s.105 Amendments connected with Gambling Act 2005 (opens in a new tab)
s.106 VED: exempt vehicles (opens in a new tab)
s.109 Meaning of “recognised stock exchange” etc (opens in a new tab)
s.111 Excise duties: small consignment relief (opens in a new tab)
s.112 Updating references to Standing Committees (opens in a new tab)
Part 8

Final provisions

1 of 3 sections shown
s.113 Interpretation (opens in a new tab)

amended 1 time (opens in a new tab)

2 other sections in this Part — procedural and definitional
s.114 Repeals (opens in a new tab)
s.115 Short title (opens in a new tab)
Schedules

Schedules

6 of 501 shown
s.sch011 (1) This paragraph applies if an officer of Revenue and... Regulated
  • Provide HMRC with a report on technical provisions if askedFinancial Services Firm
s.sch023 Part 3 of the Criminal Law (Consolidation) (Scotland) Act 1995... Regulated
  • Fail to comply with production orderAny Person
s.sch023 At the beginning of that Part insert— Investigation of offences... Prosecution
  • Falsify or destroy documents required by HMRC production orderAny Person

Unlimited fine

s.sch024 (1) A penalty is payable by a person (P) where—... Prosecution
  • Provide inaccurate tax information to HMRCAny Person

Unlimited fine

s.sch024 (1) The final entry in the Table in paragraph 1... Regulated
Other duties (1) — Crown / regulator
  • HMRC must cap aggregate penalties for the same inaccuracyStatutory regulator
s.sch024 (1) This paragraph applies where a document of a kind... Regulated
  • Take reasonable care to avoid inaccuracies in tax documents on avoidance arrangementsAny Person
495 other schedules
s.sch001 The sections set out below are to be inserted in...
s.sch001 Those sections are— Remote gaming duty Interpretation (1) For the purposes of remote gaming duty “remote gaming”...
s.sch001 In BGDA 1981, before section 26N (non-sterling amounts) (as renumbered...
s.sch001 In section 31 of that Act (protection of officers), after...
s.sch001 In section 32 of that Act (subordinate legislation), after subsection...
s.sch001 In section 33(2) of that Act (no legalising effect), after...
s.sch002 Schedule 6 to FA 2000 (climate change levy) is amended...
s.sch002 In paragraph 147 (interpretation), in the definition of “reduced-rate supply”—...
s.sch002 (1) Paragraph 11 (exemption: supply not for burning in UK)...
s.sch002 (1) Paragraph 101 (civil penalties: incorrect notifications etc) is amended...
s.sch002 (1) Paragraphs 2 to 10 come into force on such...
s.sch002 In paragraph 4(2)(b) (taxable supplies: introduction), after “paragraph 24” insert...
s.sch002 In paragraph 5(3) (supplies of electricity), for “or 24” substitute...
s.sch002 In paragraph 6(2A) (supplies of gas), after “24” insert “...
s.sch002 (1) Paragraph 34 (other commodities: deemed supplies) is amended as...
s.sch002 In paragraph 39(1)(c) (regulations as to time of supply), for...
s.sch002 For paragraph 44 substitute— (1) For the purposes of this Schedule, a taxable supply...
s.sch002 (1) Paragraph 45 (reduced-rate supplies: variation of notices under paragraph...
s.sch002 After that paragraph insert— Reduced-rate supplies: deemed supply (1) This paragraph applies where— (a) a taxable supply has...
s.sch003 ITEPA 2003 is amended as follows.
s.sch003 (1) This paragraph applies for the purpose of calculating for...
s.sch003 In section 7(5) (meaning of “employment income” etc), for paragraph...
s.sch003 In section 48(2) (workers under arrangements made by intermediaries: scope...
s.sch003 After section 61 insert— Chapter 9 Managed service companies Application...
s.sch003 In section 218(1) (exclusion of lower-paid employments from parts of...
s.sch003 After section 688 insert— Managed service companies: recovery from other...
s.sch003 In section 717(4) (orders and regulations not subject to negative...
s.sch003 In Part 2 of Schedule 1 (index of defined expressions),...
s.sch003 In ITTOIA 2005, after section 164 insert— Managed service companies...
s.sch004 (1) In ITA 2007, before section 104 (and the italic...
s.sch004 In— (a) section 104(5) (restriction on reliefs for limited partners),...
s.sch004 In— (a) section 105(11) (meaning of “contribution to the firm”...
s.sch004 Omit section 106 (meaning of “limited partner”).
s.sch004 In section 112 (meaning of “non-active partner” and “early tax...
s.sch004 Omit the italic-cross heading before section 114 (regulations: exclusion of...
s.sch004 In section 115 (restrictions on reliefs for firms exploiting films),...
s.sch004 Omit section 116 (exclusion from restrictions under section 115: certain...
s.sch004 In section 792 (partners claiming excess sideways or capital gains...
s.sch004 In section 809 (individuals in partnership claiming relief for licence-related...
s.sch004 In paragraph 148(3)(b) of Schedule 2 (transitionals and savings: tax...
s.sch004 (1) In ITA 2007, before section 114 insert— Exclusion of...
s.sch004 In Schedule 4 (index of defined expressions)—
s.sch004 The amendments made by paragraphs 5 to 20 are deemed...
s.sch004 (1) ICTA has effect, in relation to any loss made...
s.sch004 ITA 2007 is amended as follows.
s.sch004 In section 32 (liability not dealt with in the calculation),...
s.sch004 In section 82(a) (exploitation of films), for “sections 115 and...
s.sch004 (1) Section 102 (overview of Chapter 3 of Part 4)...
s.sch004 After section 103 insert— Meaning of “limited partner” (1) In this Chapter “limited partner” means an individual who...
s.sch004 After section 103C (as inserted by paragraph 1(1) above) insert—...
s.sch005 (1) ICTA is amended as follows. (2) In section 347A(1)...
s.sch005 (1) In section 171(2) of TCGA 1992 (exceptions to rule...
s.sch005 . . . . . . . . . ....
s.sch005 . . . . . . . . . ....
s.sch005 . . . . . . . . . ....
s.sch005 . . . . . . . . . ....
s.sch005 . . . . . . . . . ....
s.sch005 . . . . . . . . . ....
s.sch005 (1) Chapter 17 of Part 2 of CAA 2001 (plant...
s.sch005 . . . . . . . . . ....
s.sch005 . . . . . . . . . ....
s.sch005 (1) In section 660C of ICTA, omit subsection (4) (income...
s.sch005 (1) Section 774B of ICTA (disregard of intended effects of...
s.sch005 In section 774D of ICTA (disregard of intended effects of...
s.sch005 In section 774E of ICTA (exceptions), in subsection (7)(a) (meaning...
s.sch005 (1) Section 774G of ICTA (minor definitions etc for purposes...
s.sch005 (1) The amendments made by paragraphs 3 to 5 and...
s.sch005 (1) Section 263E of TCGA 1992 (structured finance arrangements) is...
s.sch005 (1) In paragraph 7A(10) of Schedule 23A to ICTA (manufactured...
s.sch006 . . . . . . . . . ....
s.sch006 (1) Schedule 10 to FA 2006 (sale etc of lessor...
s.sch007 In section 98 of TMA 1970 (special returns etc), in...
s.sch007 After section 431E insert— Meaning of “gross roll-up business” In this Chapter “gross roll-up business” means business of any...
s.sch007 In section 431F (meaning of “basic life assurance and general...
s.sch007 In section 432ZA(7) (linked assets), for “long-term business other than...
s.sch007 (1) Section 432A (apportionment of income and gains) is amended...
s.sch007 (1) Section 432AA (Schedule A business or overseas property business)...
s.sch007 In section 432AB (losses from Schedule A business or overseas...
s.sch007 (1) Section 432B (apportionment of receipts brought into account) is...
s.sch007 For section 432C substitute— Section 432B apportionment: non-participating funds (1) This section specifies the extent to which the net...
s.sch007 Omit section 432D (section 432B apportionment: value of non-participating funds)....
s.sch007 (1) Section 432E (section 432B apportionment: participating funds) is amended...
s.sch007 ICTA is amended as follows.
s.sch007 In section 432F(2) (section 432B apportionment: supplementary provisions)—
s.sch007 For section 432G substitute— Section 432B apportionment: business transfers-in (1) There is referable to the life assurance business of...
s.sch007 (1) Section 434 (franked investment income etc) is amended as...
s.sch007 (1) Section 434A (computation of losses and limitation on relief)...
s.sch007 Omit section 436 (pension business: separate charge on profits).
s.sch007 Before section 437 insert— Gross roll-up business: separate charge on...
s.sch007 (1) Section 438 (pension business: exemption from tax) is amended...
s.sch007 Omit section 438B (income or gains arising from property investment...
s.sch007 Omit section 438C (determination of policy holders' share for purposes...
s.sch007 Omit section 439 (restricted government securities).
s.sch007 (1) Section 76 (expenses of insurance companies) is amended as...
s.sch007 Omit section 439B (life reinsurance business: separate charge on profits)....
s.sch007 (1) Section 440 (transfers of assets etc) is amended as...
s.sch007 In section 440A(2) (securities)— (a) in paragraph (a), for sub-paragraphs...
s.sch007 In section 440B(4) (modifications where tax charged under Case I...
s.sch007 Omit section 441 (overseas life assurance business).
s.sch007 In section 444A(3) (transfers of business)— (a) for “436(3)(c) or...
s.sch007 (1) Section 444AC (transfers of business: excess of assets or...
s.sch007 (1) Section 444AF (demutualisation surplus: life assurance business) is amended...
s.sch007 (1) Section 444AK (mutual surplus: Case VI categories of life...
s.sch007 Omit sections 458 and 458A (capital redemption business).
s.sch007 Omit section 333B (involvement of insurance companies with plans and...
s.sch007 In section 460(2) (registered friendly societies: exemption from tax in...
s.sch007 In section 461 (registered friendly societies: other business), omit subsection...
s.sch007 In section 461B (incorporated friendly societies), omit subsection (2A).
s.sch007 (1) Section 466 (interpretation of Chapter 2 of Part 12)...
s.sch007 In section 502H(2)(a)(ii) and (4)(b) (insurance company as lessor), for...
s.sch007 In section 539(3) (life policies, life annuities and capital redemption...
s.sch007 (1) Section 553B (overseas life assurance business: capital redemption policies)...
s.sch007 (1) Section 755A (treatment of chargeable profits and creditable tax...
s.sch007 In section 804A(1) (life assurance companies with overseas branches etc:...
s.sch007 (1) Section 804B (insurance companies carrying on more than one...
s.sch007 In section 403E (relief for overseas losses of UK resident...
s.sch007 In section 804C(14) (insurance companies: allocation of expenses etc in...
s.sch007 (1) Section 804D (interpretation of section 804C in relation to...
s.sch007 In section 804E (interpretation of section 804C in relation to...
s.sch007 In section 806L(5) (carry forward or carry back of unrelieved...
s.sch007 In section 808 (restriction on deduction of interest or dividends...
s.sch007 Omit Schedule 19AA (overseas life assurance fund).
s.sch007 . . . . . . . . . ....
s.sch007 FA 1989 is amended as follows.
s.sch007 In section 88(3A) (corporation tax: policy holders' fraction of profits),...
s.sch007 In section 89(1A) (policy holders' share of profits), for paragraph...
s.sch007 (1) Section 431 (interpretative provisions relating to insurance companies) is...
s.sch007 TCGA 1992 is amended as follows.
s.sch007 In section 204(10) (policies of insurance and non-deferred annuities)—
s.sch007 In section 210B— (a) omit paragraph (b) of subsection (6)...
s.sch007 In section 212(2) (annual deemed disposal of holdings of certain...
s.sch007 In section 213(1A) (spreading of gains and losses under section...
s.sch007 FA 1996 is amended as follows.
s.sch007 In paragraph 12(3) of Schedule 9 (loan relationships: special computational...
s.sch007 (1) Schedule 11 (loan relationships: special provisions for insurers) is...
s.sch007 CAA 2001 is amended as follows.
s.sch007 (1) Section 255 (apportionment of allowances and charges) is amended...
s.sch007 In section 431A(3)(a) (power to amend), omit “and Schedule 19AA”....
s.sch007 (1) Section 256 (different giving effect rules for different categories...
s.sch007 (1) Section 545 (investment assets) is amended as follows.
s.sch007 In paragraph 20 of Schedule 22 to FA 2001 (remediation...
s.sch007 FA 2002 is amended as follows.
s.sch007 (1) Schedule 12 (tax relief for expenditure on research and...
s.sch007 (1) Schedule 26 (derivative contracts) is amended as follows.
s.sch007 ITTOIA 2005 is amended as follows.
s.sch007 In section 473(2) (policies and contracts to which Chapter 9...
s.sch007 In section 476(3) (special rules: foreign policies), in the definition...
s.sch007 In Schedule 2 (transitionals and savings etc), in paragraph 118(2),...
s.sch007 After section 431B insert— Meaning of “child trust fund business”...
s.sch007 (1) A loss incurred by an insurance company in a...
s.sch007 (1) An unused pension business loss of an insurance company...
s.sch007 (1) An unused non-pension business loss of an insurance company...
s.sch007 (1) In paragraph 82 “unused non-pension business loss”, in relation...
s.sch007 Where there is a subsection (2) excess (within the meaning...
s.sch007 (1) This paragraph applies where a loss ... is treated...
s.sch007 (1) This paragraph applies where section 444AZB of ICTA has...
s.sch007 (1) Section 431D (meaning of “overseas life assurance business”) is...
s.sch008 ICTA is amended as follows.
s.sch008 In section 755A(2) and (6)(a) (controlled foreign companies: apportionments to...
s.sch008 FA 1989 is amended as follows.
s.sch008 In section 83(6)(c) (receipts to be taken into account), for...
s.sch008 In subsection (1) of section 85 (charge of certain receipts...
s.sch008 After that section insert— Excess adjusted Case I profits (1) Where for any accounting period an insurance company is...
s.sch008 (1) Section 88 (policy holders' fraction of profits) is amended...
s.sch008 (1) Section 89 (policy holders' share of profits) is amended...
s.sch008 In paragraph 16(1) of Schedule 7 to FA 1991 (transitional...
s.sch008 In section 212 of TCGA 1992 (annual deemed disposal of...
s.sch008 In F(No.2)A 1992, omit section 65 (life assurance business: I...
s.sch008 (1) Section 76 (expenses of insurance companies) is amended as...
s.sch008 In paragraph 4 of Schedule 11 to FA 1996 (loan...
s.sch008 In paragraph 84 of Schedule 18 to FA 1998 (company...
s.sch008 CAA 2001 is amended as follows.
s.sch008 In section 256(1) (different giving effect rules for different categories...
s.sch008 In section 257(2) (life assurance: supplementary), for paragraphs (a) and...
s.sch008 FA 2002 is amended as follows.
s.sch008 In paragraph 13(1) of Schedule 12 (tax relief on R&D:...
s.sch008 In Schedule 29 (gains and losses of a company from...
s.sch008 Step 7 in subsection (7) of section 76 of ICTA...
s.sch008 (1) This paragraph applies where— (a) the profits of the...
s.sch008 In section 431(2) (interpretative provisions relating to insurance companies), insert...
s.sch008 For section 432 (and the italic cross-heading before it) substitute—...
s.sch008 In section 432A(7)(c)(ii) (apportionment of income and gains), for “85(2C)(c)”...
s.sch008 In section 437(1A) (annuities), for “, otherwise than in accordance...
s.sch008 Omit section 439A (taxation of pure reinsurance business).
s.sch008 (1) Section 440B (modifications where tax charged under Case I...
s.sch008 After that section insert— Modifications for change of tax basis...
s.sch009 (1) In section 431(2) of ICTA (interpretative provisions for purposes...
s.sch009 (1) Section 83 of FA 1989 (receipts to be taken...
s.sch009 (1) FA 1989 is amended as follows.
s.sch009 . . . . . . . . . ....
s.sch009 (1) Paragraph 16 of Schedule 7 to FA 1991 (transitional...
s.sch009 (1) TCGA 1992 is amended as follows.
s.sch009 In paragraph 57 of Schedule 8 to FA 1995 (application...
s.sch009 (1) The Treasury may by order make provision in relation...
s.sch009 (1) The amendments made by paragraphs 1 to 3 and...
s.sch009 (1) Section 444A of ICTA (transfers of business: expenses, losses...
s.sch009 (1) In ICTA , for section 444AA substitute— Transfers of...
s.sch009 (1) In ICTA, for sections 444AB and 444ABA substitute— Transfer...
s.sch009 In ICTA, after section 444ABC (inserted by paragraph 4) insert—...
s.sch009 (1) In ICTA, for section 444AC substitute— Transfer schemes transferring...
s.sch009 (1) In ICTA, omit section 444AD (transfers of business: modification...
s.sch009 (1) In ICTA, before section 444AF (and the italic cross-heading...
s.sch009 In FA 1989, omit section 82C (relevant financial reinsurance contracts)....
s.sch010 In section 83ZA(4) of FA 1989 (contingent loans), for “the...
s.sch010 (1) In section 431(2) of ICTA (interpretative provisions relating to...
s.sch010 (1) Section 431 of ICTA (interpretative provisions relating to insurance...
s.sch010 (1) Section 431A (power to amend) is amended as follows....
s.sch010 In section 83A(1) of FA 1989 (“brought into account”)—
s.sch010 (1) Omit the following provisions. (2) In ICTA—
s.sch010 (1) In section 432ZA(5) of ICTA (linked assets), for “432F”...
s.sch010 (1) Omit the following provisions (which are obsolete or of...
s.sch010 (1) The amendment made by paragraph 1 has effect on...
s.sch010 (1) In FA 1989, after section 83 insert— Structural assets...
s.sch010 In TCGA 1992, after section 210B insert— Losses on disposal...
s.sch010 . . . . . . . . . ....
s.sch010 (1) TCGA 1992 is amended as follows.
s.sch010 (1) Chapter 2 of Part 4 of FA 1996 (loan...
s.sch010 The repeals made by Schedule 3 to ITA 2007 in...
s.sch010 (1) In section 431(2) of ICTA (interpretative provisions relating to...
s.sch010 (1) In section 431(2) of ICTA (interpretative provisions relating to...
s.sch011 (1) This paragraph applies if a general insurer makes any...
s.sch011 (1) In paragraph 1 “general insurer” means—
s.sch011 In FA 2000, omit section 107 (general insurance reserves).
s.sch011 (1) Paragraphs 1 to 3 have effect in relation to...
s.sch012 (1) Section 460 of ICTA (exemption from tax in respect...
s.sch012 (1) Section 464 of ICTA (maximum benefits payable to members)...
s.sch012 In section 466(2) of ICTA, in the definition of “tax...
s.sch012 (1) Section 461 of ICTA (exemption of registered friendly societies...
s.sch012 (1) Section 461B of ICTA (exemption of incorporated friendly societies...
s.sch012 (1) The amendment made by sub-paragraph (2) of paragraph 1,...
s.sch013 (1) The purpose of this Schedule is to secure that...
s.sch013 (1) This paragraph applies if a company (“ the lender...
s.sch013 (1) This paragraph applies if— (a) a company (“the lender”)...
s.sch013 (1) This paragraph applies if— (a) under an arrangement a...
s.sch013 . . . . . . . . . ....
s.sch013 (1) In this Schedule— “arrangement” includes any agreement or understanding...
s.sch013 (1) The Treasury may by regulations provide for all or...
s.sch013 (1) For the purposes of this Schedule a company (“...
s.sch013 (1) For the purposes of this Schedule a company (“...
s.sch013 (1) This paragraph applies if a company (“ the borrower...
s.sch013 (1) This paragraph applies if a company (“ the borrower...
s.sch013 (1) This paragraph applies if— (a) a company (“the borrower”)...
s.sch013 (1) For the purposes of this Schedule a company (“...
s.sch013 (1) For the purposes of this Schedule a company (“...
s.sch013 (1) This paragraph applies if a company (“ the lender...
s.sch014 ICTA is amended as follows.
s.sch014 . . . . . . . . . ....
s.sch014 TCGA 1992 is amended as follows.
s.sch014 (1) Section 263A (agreements for sale and repurchase of securities)...
s.sch014 (1) For paragraph 12 of Schedule 7AC substitute— (1) This paragraph applies where— (a) a company (“the borrower”)...
s.sch014 Chapter 2 of Part 4 of FA 1996 (loan relationships)...
s.sch014 In section 91C(3) (shares treated as loan relationships: condition 1...
s.sch014 (1) Section 97 (manufactured interest) is amended as follows.
s.sch014 In section 100 (money debts etc not arising from the...
s.sch014 For paragraph 15 of Schedule 9 (and the italic cross-heading...
s.sch014 In section 229(1)(ca) of FA 1994 (Lloyd's corporate members: regulations),...
s.sch014 . . . . . . . . . ....
s.sch014 In section 139 of FA 2006 (Real Estate Investment Trusts:...
s.sch014 ITA 2007 is amended as follows.
s.sch014 . . . . . . . . . ....
s.sch014 . . . . . . . . . ....
s.sch014 In section 886(2) (interest paid by recognised clearing houses etc),...
s.sch014 . . . . . . . . . ....
s.sch014 Omit sections 730A and 730B (treatment of price differential on...
s.sch014 Omit section 730BB (exchange gains and losses on sale and...
s.sch014 . . . . . . . . . ....
s.sch014 Omit sections 737A to 737C (sale and repurchase of securities:...
s.sch014 Omit section 737E (power to modify sections 730A, 730BB and...
s.sch014 . . . . . . . . . ....
s.sch015 (1) Section 747 of ICTA (imputation of chargeable profits and...
s.sch015 (1) The amendments made by this Schedule have effect in...
s.sch015 In section 749 of ICTA (residence), insert at the end—...
s.sch015 In section 749A of ICTA (elections and designations under section...
s.sch015 In section 750(3) of ICTA (territories with a lower level...
s.sch015 In ICTA, after section 751 insert— Reduction in chargeable profits...
s.sch015 In section 756 of ICTA (interpretation and construction of Chapter...
s.sch015 (1) Part 2 of Schedule 25 to ICTA (supplementary provision...
s.sch015 (1) In section 748(1) of ICTA (cases where apportionment under...
s.sch015 In paragraph 44(3) of Schedule 18 to FA 1998 (discovery...
s.sch016 (1) Part 3 of Schedule 15 to FA 2000 (requirements...
s.sch016 In paragraph 86(2) (substitution of new shares for old shares),...
s.sch016 (1) In section 297 of ICTA (qualifying trades)—
s.sch016 (1) Section 306 of ITA 2007 (qualifying holdings) is amended...
s.sch016 This Part of this Schedule is deemed to have come...
s.sch016 (1) This paragraph applies if— (a) shares in or securities...
s.sch016 (1) Schedule 15 to FA 2000 is amended as follows....
s.sch016 (1) In Chapter 3 of Part 7 of ICTA—
s.sch016 In section 301 of ITA 2007, after subsection (1) insert—...
s.sch016 This Part of this Schedule is deemed to have come...
s.sch016 (1) In Part 5 of ITA 2007 (enterprise investment scheme),...
s.sch016 (1) Chapter 4 of Part 5 of ITA 2007 (the...
s.sch016 (1) Chapter 3 of Part 6 of ITA 2007 (VCT...
s.sch016 (1) In section 284 of ITA 2007 (power to make...
s.sch016 (1) Part 6 of ITA 2007 is amended as follows....
s.sch016 (1) Schedule 15 to FA 2000 is amended as follows....
s.sch016 (1) Part 5 of ITA 2007 is amended as follows....
s.sch016 (1) Chapter 4 of Part 6 of ITA 2007 (qualifying...
s.sch016 (1) Schedule 5B to TCGA 1992 is amended as follows....
s.sch016 (1) This paragraph applies for the purposes of—
s.sch016 (1) Paragraph 29 of Schedule 15 to FA 2000 is...
s.sch017 Part 4 of FA 2006 (REITs) is amended as follows....
s.sch017 In section 123(a) (attribution of distributions), for “Condition 4” substitute...
s.sch017 After section 126 (movement of assets into ring fence) insert—...
s.sch017 In section 127 (interpretation), for “126” substitute “ 126A ”....
s.sch017 In section 133 (early exit), insert at the end—
s.sch017 In section 138 (joint ventures), after subsection (3) insert—
s.sch017 In paragraph 3 of Schedule 16 (excluded income: owner-occupied property),...
s.sch017 (1) Schedule 17 (modifications for groups) is amended as follows....
s.sch017 In section 505(1) of ICTA (charities: exemptions), after paragraph (a)...
s.sch017 In section 531 of ITA 2007 (charities: exemptions)—
s.sch017 In section 106 (conditions for company)— (a) in subsection (1),...
s.sch017 In section 107 (conditions for tax-exempt business)—
s.sch017 In section 108(2) (profit condition), for paragraph (b) substitute—
s.sch017 In section 109 (notice), after subsection (2) insert—
s.sch017 In section 115 (profit: financing cost ratio)—
s.sch017 In section 116 (minor or inadvertent breach)—
s.sch017 In section 117 (cancellation of tax advantage), insert at the...
s.sch017 In section 120 (calculation of profits)— (a) in paragraph (a)...
s.sch018 Part 4 of FA 2004 (pension schemes etc) is amended...
s.sch018 In section 188(3) (relief for members' contributions: contributions which are...
s.sch018 After section 195 insert— Life assurance premium contributions (1) Contributions paid by or on behalf of an individual...
s.sch018 (1) In relation to contributions under any pension scheme that...
s.sch018 (1) This paragraph specifies when a policy of insurance is...
s.sch018 (1) In relation to contributions under any occupational pension scheme,...
s.sch018 (1) This paragraph specifies when a policy of insurance is...
s.sch018 (1) The Commissioners for Her Majesty's Revenue and Customs may...
s.sch019 Part 4 of FA 2004 (pension schemes etc) is amended...
s.sch019 In paragraph 17A of Schedule 36 (“enhanced protection”)—
s.sch019 . . . . . . . . . ....
s.sch019 (1) Section 172B (increase in rights of connected person on...
s.sch019 . . . . . . . . . ....
s.sch019 . . . . . . . . . ....
s.sch019 . . . . . . . . . ....
s.sch019 (1) Paragraph 18 of Schedule 29 (charity lump sum death...
s.sch019 In section 268(6) (unauthorised payments surcharge and scheme chargeable payments),...
s.sch019 (1) Schedule 34 (non-UK schemes application of certain charges) is...
s.sch019 IHTA 1984 is amended as follows.
s.sch019 (1) In section 165(1) (pension rules) is amended as follows....
s.sch019 . . . . . . . . . ....
s.sch019 . . . . . . . . . ....
s.sch019 . . . . . . . . . ....
s.sch019 . . . . . . . . . ....
s.sch019 . . . . . . . . . ....
s.sch019 . . . . . . . . . ....
s.sch019 . . . . . . . . . ....
s.sch019 In Schedule 2 (provisions applying on reduction of tax), omit...
s.sch019 (1) Section 636A of ITEPA 2003 (exemption for certain lump...
s.sch019 (1) The amendments made by paragraphs 2(2) and 3 have...
s.sch019 In paragraph 12 of Schedule 28 (pension rules: alternatively secured...
s.sch019 . . . . . . . . . ....
s.sch019 In section 168(1) (lump sum death benefit rule), omit paragraph...
s.sch019 Omit section 172B(5)(a) (reduction for transfer lump sum death benefit)....
s.sch019 In section 188(5) (amounts not to be treated as contributions),...
s.sch019 In section 280(2) (index), omit the entry relating to transfer...
s.sch019 In Schedule 29, omit paragraph 19 (transfer lump sum death...
s.sch020 Part 4 of FA 2004 (pension schemes etc) is amended...
s.sch020 In section 219(7) (multiple benefit crystallisation events occurring by reason...
s.sch020 (1) Schedule 29 (authorised lump sums) is amended as follows....
s.sch020 (1) Paragraph 10 of Schedule 29 (winding-up lump sums) is...
s.sch020 . . . . . . . . . ....
s.sch020 (1) Schedule 29A (taxable property held by investment-regulated pension schemes)...
s.sch020 In paragraph 11D of Schedule 36 (lump sum death benefits...
s.sch020 Schedule 36 (transitional provision) is amended as follows.
s.sch020 (1) Paragraph 12 (when enhanced protection ceases) is amended as...
s.sch020 In paragraph 14 (relevant contributions), after sub-paragraph (3) insert—
s.sch020 (1) Paragraph 15 (relevant benefit accrual) is amended as follows....
s.sch020 (1) Section 154 (persons by whom registered pension scheme may...
s.sch020 In section 58 of IHTA 1984 (settlements: “relevant property”), after...
s.sch020 In section 393B of ITEPA 2003 (employer-financed retirement benefits schemes:...
s.sch020 (1) In section 167(2) of FA 2004 (meaning of “pension...
s.sch020 (1) In section 1(1) of the Pension Schemes Act 1993...
s.sch020 (1) The amendments made by paragraphs 2 to 4 and...
s.sch020 Omit section 155 (persons by whom scheme may be established:...
s.sch020 In section 273 (members liable as scheme administrator)—
s.sch020 In section 160 (unauthorised payments), after subsection (4) insert—
s.sch020 (1) Section 172A (surrender) is amended as follows.
s.sch020 (1) Schedule 28 (pension rules) is amended as follows.
s.sch020 (1) Schedule 28 (pension rules) is amended as follows.
s.sch020 In section 166(2)(a) (when person becomes entitled to pension commencement...
s.sch021 (1) Section 80A of FA 1986 (exemption from stamp duty:...
s.sch021 (1) Section 80B of FA 1986 (exemption from stamp duty...
s.sch021 (1) Section 88A of FA 1986 (exemption from SDRT: sales...
s.sch021 (1) Section 88B of FA 1986 (exemption from SDRT on...
s.sch021 (1) Section 80C of FA 1986 (exemption from stamp duty:...
s.sch021 (1) Section 89AA of FA 1986 (exemption from SDRT: repurchases...
s.sch021 (1) In section 116 of FA 1991 (stamp duty: investment...
s.sch021 (1) In F(No.2)A 2005, omit section 50 (power to extend...
s.sch022 In section 20D(1) of TMA 1970, for “sections 20A, 20BA...
s.sch022 In Schedule 5 to FA 1996 (landfill tax)—
s.sch022 In Schedule 6 to FA 2000 (climate change levy)—
s.sch022 In FA 2001 (aggregates levy)— (a) paragraph 6 of Schedule...
s.sch022 (1) In the Criminal Justice and Police Act 2001—
s.sch022 Section 36(2) and (3) of the Tax Credits Act 2002...
s.sch022 Section 323(3)(e) and (f) of the Proceeds of Crime Act...
s.sch022 Part 7 of Schedule 13 to FA 2003 (stamp duty...
s.sch022 In CRCA 2005— (a) section 13(3)(b) and (c) (Commissioners' functions...
s.sch022 In section 67 of the Criminal Justice and Police Act...
s.sch022 The provisions listed below are omitted.
s.sch022 In TMA 1970— (a) sections 20C and 20CC (search warrants),...
s.sch022 In CEMA 1979— (a) section 118C(3)(c) (gaming duty), and
s.sch022 In BGDA 1981— (a) paragraph 16 of Schedule 1 (general...
s.sch022 Section 148(4) of FA 1989 (definition of “business” for purposes...
s.sch022 In VATA 1994— (a) section 72(9) (powers of arrest), and...
s.sch022 In Schedule 7 to FA 1994 (insurance premium tax)—
s.sch023 After that subsection insert— (1A) The inclusion of officers of...
s.sch023 The Criminal Justice and Police Act 2001 is amended as...
s.sch023 In section 63(2) (powers to obtain hard copies etc of...
s.sch023 In Schedule 1— (a) in Part 1, after paragraph 59...
s.sch023 (1) The amendments made by this Schedule come into force...
s.sch023 The heading to that Part becomes “ Investigation of Revenue...
s.sch023 In section 24 (detention and questioning by customs officers)—
s.sch023 In section 25(1) (right to have someone informed of the...
s.sch023 In section 26 (detention in connection with drug smuggling offences),...
s.sch023 After that section insert— Power of arrest Power of arrest...
s.sch023 Section 307 of the Criminal Procedure (Scotland) Act 1995 (interpretation)...
s.sch023 In subsection (1), in the definition of “officer of law”,...
s.sch024 (1) If a person who would otherwise be liable to...
s.sch024 (1) If a person who would otherwise be liable to...
s.sch024 (1) If they think it right because of special circumstances,...
s.sch024 (1) Where a person becomes liable for a penalty under...
s.sch024 (1) HMRC may suspend all or part of a penalty...
s.sch024 (1) A person may appeal against a decision of HMRC...
s.sch024 (1) An appeal under this Part of this Schedule shall...
s.sch024 (1) On an appeal under paragraph 15(1) the ... tribunal...
s.sch024 (1) P is liable under paragraph 1(1)(a) where a document...
s.sch024 (1) Where a penalty under paragraph 1 is payable by...
s.sch024 (1) A penalty is payable by a person (T) where—...
s.sch024 (1) A penalty is payable by a person (P) where—...
s.sch024 (1) This paragraph applies where P is liable to a...
s.sch024 A person is not liable to a penalty under paragraph...
s.sch024 (1) A category 1 territory is a territory designated as...
s.sch024 (1) The Treasury may by regulations make provision for determining...
s.sch024 In paragraphs 1(2) and 5 references to “tax” are to...
s.sch024 (1) A person is not liable to a penalty under...
s.sch024 Paragraphs 23 to 27 apply for the construction of this...
s.sch024 HMRC means Her Majesty's Revenue and Customs.
s.sch024 “Tax”, without more, includes duty.
s.sch024 “UK” means the United Kingdom, including the territorial sea of...
s.sch024 An expression used in relation to income tax has the...
s.sch024 An expression used in relation to corporation tax has the...
s.sch024 An expression used in relation to capital gains tax has...
s.sch024 An expression used in relation to VAT has the same...
s.sch024 In this Schedule— (a) a reference to corporation tax includes...
s.sch024 The following provisions are omitted— (a) sections 95, 95A, 97...
s.sch024 (1) For the purposes of a penalty under paragraph 1,...
s.sch024 In paragraphs 7 and 7B of Schedule 1 to the...
s.sch024 In paragraphs 7 and 7B of Schedule 1 to the...
s.sch024 (1) In paragraph 3A “ avoidance arrangements ” means, subject...
s.sch024 (1) This paragraph applies where— (a) a document of a...
s.sch024 (1) This paragraph sets out the penalty payable under paragraph...
s.sch024 (1) An inaccuracy is in category 1 if—
s.sch024 (1) This paragraph makes provision in relation to offshore transfers....
s.sch024 The penalty payable under paragraph 1A is 100% of the...
s.sch024 The penalty payable under paragraph 2 is 30% of the...
s.sch024 Paragraphs 5 to 8 define “potential lost revenue”.
s.sch024 (1) “The potential lost revenue” in respect of an inaccuracy...
s.sch024 (1) Where P is liable to a penalty under paragraph...
s.sch024 (1) Where an inaccuracy has the result that a loss...
s.sch024 (1) Where an inaccuracy resulted in an amount of tax...
s.sch024 (A1) Paragraph 10 provides for reductions in penalties—
s.sch025 . . . . . . . . . ....
s.sch025 In section 33(1) (interpretation of Act), for the definition of...
s.sch025 (1) Schedule 1 (enforcement) is amended as follows.
s.sch025 (1) Schedule 3 (exemptions from bingo duty) is amended as...
s.sch025 Chapter 2 of Part 1 of FA 1993 (lottery duty)...
s.sch025 In section 24(4) (lotteries in respect of which lottery duty...
s.sch025 In section 37 (disclosure of information to or by the...
s.sch025 FA 1997 is amended as follows.
s.sch025 (1) Section 10 (charge to gaming duty) is amended as...
s.sch025 (1) Section 11 (rate of gaming duty) is amended as...
s.sch025 In section 15(3) (definitions for purposes of the gaming duty...
s.sch025 In section 530(2) of ITA 2007 (charitable trusts: exemption for...
s.sch025 (1) Schedule 1 (gaming duty: administration, enforcement etc) is amended...
s.sch025 In Schedule 3 to FA 1966 (provision relating to Schedule...
s.sch025 In section 1(1) of CEMA 1979 (interpretation), in paragraph (a)(ic)...
s.sch025 (1) Paragraphs 3, 4, 6, 7(1) and (5), 11(1) and...
s.sch025 BGDA 1981 is amended as follows.
s.sch025 (1) Section 3 (bookmakers: spread bets) is amended as follows....
s.sch025 In section 5B(3)(a) (liability to pay general betting duty), for...
s.sch025 In section 5C(5) (bet-brokers: cases where section 5C does not...
s.sch025 (1) Section 12(4) (definitions for purposes of Part 1) is...
s.sch025 In section 20A(1) (meaning of “combined bingo”), omit paragraph (a)...
s.sch025 (1) Section 20C(2) (definitions for purposes of Part 2) is...
s.sch026 For section 1005 of ITA 2007 substitute— Meaning of “recognised...
s.sch026 (1) ITEPA 2003 (persons to whom section 421J applies) is...
s.sch026 (1) ITTOIA 2005 is amended as follows.
s.sch026 (1) ITA 2007 is amended as follows.
s.sch026 For section 841 of ICTA substitute— Meaning of “recognised stock...
s.sch026 In section 288 of TCGA 1992 (interpretation), after subsection (5)...
s.sch026 (1) In section 272 of TCGA 1992 (valuation: general), for...
s.sch026 (1) In ITTOIA 2005, for sections 450 and 451 substitute—...
s.sch026 In section 90(8) of FA 1986 (exceptions to the charge...
s.sch026 (1) ICTA is amended as follows. (2) . . ....
s.sch026 (1) TCGA 1992 is amended as follows.
s.sch026 In paragraph 4(2C)(b) of Schedule 26 to FA 2002 (derivative...

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