UK Act of Parliament
2011
United Kingdom
Finance Act 2011
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 671 other Schedules — structural / supplementary
In section 41 (exemption from duty of beer produced for...
In section 49 (beer regulations), in subsection (1)—
In section 49A (drawback allowable to registered brewer), in subsection...
ALDA 1979 is amended as follows.
In section 4 (interpretation), in subsection (1) insert at the...
(1) Section 36 (beer: charge of excise duty) is amended...
In section 36B (interpretation of provisions relating to small brewery...
(1) Section 36D (rate of duty for small brewery beer...
(1) Section 36F (rate of duty for small brewery beer...
(1) Section 36G (assessments where incorrectly low rate of duty...
In section 36H (power to vary reduced rate provisions), in...
After Part 7 of ITEPA 2003 insert— Part 7A Employment...
In section 222(1)(a) and (3) (payments treated as earnings: payments...
After section 227(4) (scope of exemptions to income tax under...
(1) Amend section 271 (income tax exemptions: removal benefits and...
(1) Amend section 287 (income tax exemptions: limit on exemption...
(1) Amend section 394 (employer-financed retirement benefits: charge on benefit...
After section 428(6) (restricted employment-related securities: amount of charge) insert—...
In section 431(3) (restricted employment-related securities: election for disapplication of...
In section 437(1)(a) (convertible employment-related securities: market value) after “option)”...
After section 441(9) (convertible employment-related securities: amount of gain realised)...
In section 446B(4) (employment-related securities with artificially depressed market value:...
ITEPA 2003 is amended as follows.
After section 446C(4) (employment-related securities with artificially depressed market value:...
After section 446S(3) (employment-related securities acquired for less than market...
In section 446T(3) (employment-related securities acquired for less than market...
In section 446V (employment-related securities acquired for less than market...
In section 452(2) (shares in research institution spin-out companies: market...
In section 480(5) (employment-related securities options: deductible amounts)—
In section 567(5) (pension income: amount charged to tax) before...
After section 567 insert— Cases in which Part 7A has...
After section 687(4) (PAYE: payments by intermediary) insert—
After section 687 insert— Payment of employment income under Part...
In section 1(1)(a) (overview of contents of Act) for “7”...
(1) Amend section 689 (PAYE: employee of non-UK employer) as...
Before section 696 insert— Employment income under Part 7A (1) This section applies if— (a) the value of a...
After section 696(2) (PAYE: readily convertible assets) insert—
In section 710(2)(a) (PAYE: accounting for tax on notional payments)...
(1) Amend section 716A (priority rule in relation to certain...
ITTOIA 2005 is amended as follows.
(1) Amend section 39 (employee benefit contributions: meaning of “employee...
(1) Amend section 40 (employee benefit contributions: provision of qualifying...
(1) Amend section 41 (employee benefit contributions: timing of qualifying...
In section 44(1) (employee benefit contributions: interpretation)—
(1) Amend section 3 (structure of employment income Parts) as...
ITA 2007 is amended as follows.
After section 809F(5) (remittance basis: effect) insert—
After section 809K(1)(c) (remittance basis: application of sections 809L to...
For section 809Z7(4) (remittance basis: meaning of “foreign specific employment...
CTA 2009 is amended as follows.
(1) Amend section 1291 (employee benefit contributions: meaning of “employee...
(1) Amend section 1292 (employee benefit contributions: provision of qualifying...
(1) Amend section 1293 (employee benefit contributions: timing of qualifying...
In section 1296(1) (employee benefit contributions: interpretation)—
(1) TCGA 1992 is amended as follows.
For the “or” after section 7(6)(b) (meaning of “specific employment...
In the following provisions, in the definition of “the employment...
In Schedule 34 to FA 2004 (non-UK pension schemes) after...
(1) Part 7A of ITEPA 2003 (as inserted by paragraph...
(1) This paragraph applies if— (a) on or after 9...
(1) This paragraph applies if— (a) on or after 9...
(1) For the purpose of determining whether Chapter 2 of...
(1) This paragraph applies for the purposes of section 554Q...
(1) This paragraph applies for the purposes of section 554R...
(1) This paragraph applies if— (a) B takes a step...
(1) This paragraph applies if— (a) a relevant step within...
(1) Amend section 10 (provision relating to “taxable specific income”)...
The amendments made by paragraph 14 of this Schedule, so...
The amendments made by paragraphs 36, 39(a), 45 and 48(a)...
The amendments made by paragraphs 37(2), 39(b), 46(2) and 48(b)...
The amendments made by paragraphs 38(2) and 47(2) of this...
Employment income provided through third parties
(1) Amend section 13 (person liable for tax) as follows....
After section 63(4) (the benefits code) insert—
Under Step 1 in section 218(1) (exclusion of lower-paid employments...
In Part 13 of ITA 2007 (tax avoidance), after Chapter...
In section 413 (gift aid: overview of Chapter), after subsection...
In section 431 (gifts of shares, securities and real property...
In section 543 (meaning of “non-charitable expenditure”), omit subsection (1)(g)...
Sections 549 to 557 (substantial donor transactions) are repealed.
In Schedule 2 (transitionals and savings), omit paragraphs 105 and...
In Schedule 4 (index of defined expressions), at the appropriate...
In Schedule 9 (amendment of enactments: Part 1), omit paragraph...
In section 105 of CTA 2009 (gifts of trading stock...
In Schedule 1 (minor and consequential amendments), omit paragraphs 703...
CTA 2010 is amended as follows.
After Part 21B of CTA 2010 (inserted by Schedule 5...
In section 1 (overview of Act), in subsection (4)—
In section 189 (relief for qualifying charitable donations), in subsection...
In section 496 (meaning of “non-charitable expenditure”), omit subsection (1)(e)...
Sections 502 to 510 (substantial donor transactions) are repealed.
In Schedule 1 (minor and consequential amendments), omit paragraphs 532...
In Schedule 2 (transitionals and savings etc), omit paragraphs 73...
In Schedule 4 (index of defined expressions), at the appropriate...
(1) Subject to sub-paragraph (2), the amendments made by this...
In the amendments made by Parts 1 and 2 of...
(1) For the purposes of section 549(2) of ITA 2007...
After section 257 of TCGA 1992 insert— Tainted charity donations...
(1) For the purposes of section 502(2) of CTA 2010...
Until such time as section 20 of the Housing (Scotland)...
In section 63 of CAA 2001 (cases in which disposal...
In section 713 of ITEPA 2003 (donations to charity: payroll...
In section 108 of ITTOIA 2005 (gifts of trading stock...
ITA 2007 is amended as follows.
In section 30 (calculation of income tax liability: additional tax)—...
In section 58 (meaning of “adjusted net income), at the...
Part 5 of CTA 2009 (loan relationships) is amended as...
In section 689 (overview of Chapter 11), in subsection (2),...
After section 698 insert— Derecognition Debits arising from derecognition of...
In consequence of the amendments made by this Schedule, omit—...
(1) The amendments made by this Schedule have effect in...
(1) Section 311 (amounts not fully recognised for accounting purposes)...
(1) Section 312 (determination of credits and debits where amounts...
In section 440 (overview of Chapter 15), in subsection (2),...
After section 455 insert— Derecognition Debits arising from derecognition of...
In section 464 (priority of Part for corporation tax purposes),...
Part 7 of CTA 2009 (derivative contracts) is amended as...
(1) Section 599A (amounts not fully recognised for accounting purposes)...
(1) Section 599B (determination of credits and debits where amounts...
In section 1(4) of CTA 2010 (overview of Act), omit...
After Part 21A of that Act insert— Part 21B Group...
(1) Sections 938 to 940 of that Act are renumbered...
(1) Schedule 4 to that Act (index of defined expressions)...
(1) In section 147(6) of TIOPA 2010 (transfer pricing: basic...
(1) The amendments made by paragraphs 1, 2 and 5...
(1) Omit sections 418 to 419 of CTA 2009 (loan...
(1) Omit section 453 of CTA 2009 (connected parties deriving...
Chapter 3 of Part 9 of CTA 2010 (sale of...
Chapter 4 of Part 9 of CTA 2010 (sale of...
(1) Section 410 (“business of leasing plant or machinery”) is...
In section 412 (provision supplementing section 411), in subsection (5)(b),...
In section 413 (relevant plant or machinery value where partnership...
In section 414 (partnership's income for condition B in section...
(1) Section 421 (the amount of the income: the basic...
Chapter 5 of Part 9 of CTA 2010 (sales of...
(1) Section 434 (introduction to sections 435 and 436) is...
(1) Section 435 (disregard of increases or decreases in balance...
In section 436 (balance sheet amounts determined on assumption company...
(1) Section 387 (“business of leasing plant or machinery”) is...
Chapter 6 of Part 9 of CTA 2010 (sales of...
In section 437, omit subsection (9) (definition of “market value”)....
After that section insert— Determining the ascribed value of plant...
In section 267A of CAA 2001 (restriction on effect of...
In section 948 of CTA 2010 (modified application of CAA...
(1) Section 950 of CTA 2010 (transfers of trades involving...
(1) In Schedule 4 to CTA 2010 (index of defined...
(1) The amendments made by paragraphs 2 to 5 and...
In section 389 (provision supplementing section 388), in subsection (5)(b),...
In section 390 (relevant plant or machinery value where relevant...
In section 391 (relevant company's income for condition B in...
(1) Section 398G (transfers into and out of A) is...
In section 401 (provisions supplementing section 400), in subsection (5)(b),...
In section 402 (“PM” where relevant company lessee under long...
(1) Section 403 (“TWDV” in section 399) is amended as...
(1) Section 6 of CTA 2010 (UK resident company operating...
(1) Section 7 of that Act (UK resident company operating...
After section 9 of that Act insert— Designated currency of...
In section 17 of that Act (interpretation of Chapter 4...
In Schedule 24 to ICTA (assumptions for calculating chargeable profits,...
(1) Section 328 of CTA 2009 (loan relationships: exchange gains...
(1) Section 606 of that Act (derivative contracts: exchange gains...
(1) The amendments made by this Schedule have effect in...
ITEPA 2003 is amended as follows.
The amendments made by paragraphs 2(6) and 6 do not...
(1) Section 270A (limited exemption for qualifying childcare vouchers) is...
After section 270A insert— Meaning of “relevant earnings amount” and...
(1) Section 318A (limited exemption for childcare provided otherwise than...
After section 318A insert— Meaning of “relevant earnings amount” and...
In subsection (1) of section 318D (childcare: power to vary...
The amendments made by this Schedule have effect for the...
(1) But the amendments made by paragraphs 2(2) to (5)...
Regulations made under section 270B(3)(b) or (4) of ITEPA 2003...
In section 30 of TCGA 1992 (tax-free benefits)—
For sections 31 to 34 of TCGA 1992 (which make...
In section 176 of TCGA 1992 (depreciatory transactions within a...
In section 179 of TCGA 1992 (company ceasing to be...
The following provisions are repealed— (a) in Schedule 20 to...
(1) The amendments made by paragraphs 1 to 3 and...
In section 139 of TCGA 1992 (reconstruction involving transfer of...
In section 171A of TCGA 1992 (election to reallocate gain...
(1) Section 179 of TCGA 1992 (company ceasing to be...
After section 179 of TCGA 1992 insert— Claim for adjustment...
In TCGA 1992, the following provisions are repealed—
(1) Schedule 7AC to TCGA 1992 (exemptions for disposals by...
(1) Part 8 of CTA 2009 (intangible fixed assets) is...
In consequence of the repeals made by paragraph 5, the...
(1) The amendments made by paragraphs 1 to 5 and...
In section 177A of TCGA 1992 (restriction on set-off of...
Omit the following provisions (which relate to the provisions repealed...
(1) The amendments made by this Part of this Schedule...
(1) Sub-paragraph (2) applies where, immediately before commencement, Schedule 7A...
Schedule 7A to that Act (restriction on set-off of pre-entry...
(1) Paragraph 1 (application and construction of Schedule) is amended...
Omit paragraphs 2 to 5 (determination of pre-entry proportion of...
(1) Paragraph 6 (restrictions on the deduction of pre-entry losses)...
(1) Paragraph 7 (gains from which pre-entry losses are to...
(1) Paragraph 8 (change of a company's nature) is amended...
Omit paragraph 9 (identification of “the relevant group” and application...
In paragraph 11 (continuity provisions), omit sub-paragraph (3)(b) (and the...
(1) Section 748 of ICTA (cases where apportionment of chargeable...
In the following provisions of ICTA, for “or 751AA” substitute...
In section 751A of that Act (reduction in chargeable profits...
(1) Section 751B of that Act (sections 751A and 751AA:...
Omit the following provisions— (a) in Schedule 17 to FA...
(1) The amendments made by paragraph 9 are treated as...
After section 751AA of that Act insert— Reduction in chargeable...
In Schedule 25 to that Act (cases where section 747(3)...
(1) Section 748 of ICTA (cases where apportionment of chargeable...
After that section insert— Exclusion of small profits exemptions (1) Nothing in section 748(1)(da) prevents an apportionment falling to...
(1) Section 748 of ICTA (cases where section 747(3) does...
After section 751AB of that Act (inserted by paragraph 2...
In Schedule 25 to that Act (cases where section 747(3)...
(1) Part 2 of Schedule 16 to FA 2009 (controlled...
CTA 2009 is amended as follows.
In section 1015(2)(b) (relief if employee etc obtains share option),...
In Schedule 4 to that Act (index of defined expressions),...
In paragraph 4(1) of Schedule 24 to ICTA (assumptions for...
In TCGA 1992, after section 276 insert— No gain/no loss:...
CAA 2001 is amended as follows.
In section 15 (plant and machinery allowances: qualifying activities), after...
In the Table in section 61 (disposal events and disposal...
After section 62 insert— Cases in which disposal value is...
ITA 2007 is amended as follows.
In section 879(1) (interest paid on advances from banks), insert...
In section 1(1)(c) (overview of Act), for “Chapter 4” substitute...
(1) Section 918 (manufactured dividends on UK shares: REITs) is...
In section 919 (manufactured interest on UK securities: payments by...
(1) Section 920 (foreign payers of manufactured interest: the reverse...
In section 922 (manufactured overseas dividends: payments by UK residents...
(1) Section 923 (foreign payers of manufactured overseas dividends: the...
TIOPA 2010 is amended as follows.
In section 18 (entitlement to credit for foreign tax reduces...
For section 43 substitute— Profits attributable to permanent establishments for...
(1) Section 78 (meaning of “overseas permanent establishment”) is amended...
In section 5(1) (territorial scope), insert at the end “...
The amendments made by this Schedule come into force on...
(1) This paragraph applies in relation to a company carrying...
(1) This paragraph applies in relation to a company (“company...
(1) This paragraph applies if— (a) there is a relevant...
(1) This paragraph applies if— (a) section 18O of CTA...
For the purposes of section 62A of CAA 2001 (as...
Until provision made under subsection (8) of section 43 of...
After section 18 insert— CHAPTER 3A UK RESIDENT COMPANIES: PROFITS...
In section 775(4) (intangible fixed assets: cases where transfers within...
In section 803(b) (assets held for non-taxable activities excluded from...
In section 845(4) (exceptions to rule that transfer between company...
After section 848 insert— Assets held for purposes of exempt...
In section 1007(2)(b) (relief if employee etc acquires shares), insert...
(1) In FA 2004, section 189 (relevant UK individual) is...
Paragraph 7(3) and (4)(a) have effect in relation to accounting...
Paragraph 7(5) has effect where the accounting period mentioned in...
(1) CAA 2001 is amended as follows.
This Part has effect— (a) for corporation tax purposes, in...
(1) TCGA 1992 is amended as follows.
Subject to paragraph 16, this Part has effect—
Section 241A of TCGA 1992, so far as it applies...
(1) In relation to disposals within paragraph 15 and claims...
(1) ITTOIA 2005 is amended as follows.
(1) ITA 2007 is amended as follows.
Subject to paragraphs 5 and 6, this Part has effect...
Paragraph 2(3) and (4)(a) have effect in relation to the...
Paragraph 2(5) has effect where the tax year mentioned in...
(1) CTA 2009 is amended as follows.
(1) CTA 2010 is amended as follows.
Subject to paragraphs 10 and 11, this Part has effect...
In section 195A of TCGA 1992 (oil licence swaps), in...
After section 195E of that Act (company that gives mixed...
(1) Section 196 of that Act (interpretation of sections 194...
The amendments made by this Part of this Schedule have...
After section 198H of TCGA 1992 (acquisition by member of...
The amendment made by this Part of this Schedule has...
(1) In Part 4 of FA 2004 (pension schemes etc),...
Benefits under pension schemes
(1) This paragraph applies in the case of a person...
The amendments made by paragraphs 24 to 26, 31 and...
The amendments made by paragraphs 27 to 30, 40, 42(2)(a)...
The amendments made by paragraphs 33 to 39, 41, 42(2)(b)...
(1) The amendments made by paragraphs 43, 44, 73, 80...
The amendments made by paragraphs 47 and 50 have effect...
The amendments made by paragraphs 48 and 51 to 57...
Any repeal in paragraph 84 has effect to the same...
(1) This paragraph applies to any order or regulations under...
(1) The trustees or managers of a registered pension scheme...
(1) In Part 4 of FA 2004, section 167 (pension...
Part 2 of Schedule 28 to FA 2004 (pension death...
(1) In paragraph 18 (meaning of “dependants' unsecured pension”), for...
In paragraph 20 (dependants' short-term annuity), in sub-paragraph (1)—
For paragraph 21 (meaning of “dependants' income withdrawal”) substitute— Dependants' income withdrawal” means an amount (other than an annuity)...
(1) In Part 2 of Schedule 28 to FA 2004,...
(1) In Part 2 of Schedule 28 to FA 2004,...
(1) Paragraph 24 of that Schedule (basis amount) is amended...
After paragraph 24 of that Schedule insert— (1) This paragraph applies in relation to drawdown pension years...
Part 1 of Schedule 28 to FA 2004 (pension rules)...
Benefits under pension schemes
(1) In Part 9 of ITEPA 2003 (pension income), Chapter...
(1) In Part 9 of ITEPA 2003 (pension income), Chapter...
Part 1 of Schedule 29 to FA 2004 (lump sum...
(1) Paragraph 1 (pension commencement lump sum) is amended as...
In paragraph 2 (pension commencement lump sum: calculation of permitted...
In paragraph 3 (pension commencement lump sum: calculation of applicable...
(1) Paragraph 3A (recycling of pension commencement lump sums) is...
(1) Paragraph 4 (serious ill-health lump sum) is amended as...
In paragraph 7 (trivial commutation lump sum), in sub-paragraph (1)(e),...
(1) In paragraph 4 (meaning of “unsecured pension”), for “...
In paragraph 10(1) (winding-up lump sum)— (a) at the end...
In paragraph 12 (interpretation of Part 1), after sub-paragraph (1)...
Part 2 of Schedule 29 to FA 2004 (lump sum...
(1) Paragraph 13 (defined benefits lump sum death benefit) is...
(1) Paragraph 14 (pension protection lump sum death benefit) is...
(1) Paragraph 15 (uncrystallised funds lump sum death benefit) is...
(1) Paragraph 16 (annuity protection lump sum death benefit) is...
(1) Paragraph 17 (unsecured pension fund lump sum death benefit)...
(1) Paragraph 18 (charity lump sum death benefit) is amended...
In paragraph 20(1) (trivial commutation lump sum death benefit), omit—...
In paragraph 6 (short-term annuity), in sub-paragraph (1)—
In Part 4 of FA 2004 (pension schemes etc ),...
(1) In Part 4 of FA 2004, section 206 (special...
(1) Section 636A of ITEPA 2003 (exemption for certain lump...
In section 216 of FA 2004 (benefit crystallisation events and...
(1) Schedule 32 to FA 2004 (benefit crystallisation events: supplementary)...
Benefits under pension schemes
IHTA 1984 is amended as follows.
(1) Section 12 (dispositions allowable for income tax or conferring...
Omit the following provisions— (a) section 151A(person dying with alternatively...
IHTA 1984 is amended as follows.
For paragraph 7 (meaning of “income withdrawal”) substitute— Income withdrawal” means an amount (other than an annuity) which...
(1) Section 12(dispositions allowable for income tax or conferring benefits...
In section 151 (treatment of pension rights, etc), in subsection...
In section 200 (transfer on death)— (a) in subsection (1),...
In section 210 (pension rights, etc), omit subsections (2) and...
(1) Section 216 (delivery of accounts) is amended as follows....
In section 226 (payment: general rules), in subsection (4)—
In section 233 (interest on unpaid tax), in subsection (1)(c)—...
In section 272(general interpretation), omit the definition of “scheme administrator”....
Until such time as the repeal of section 28A of...
Until such time as the repeal of section 24A of...
(1) In Part 1 of Schedule 28 to FA 2004,...
(1) Section 683 of ITEPA 2003 (PAYE income) is amended...
In Part 2 of Schedule 1 to ITEPA 2003 (index...
Part 4 of FA 2004 (pension schemes etc) is amended...
In section 164 (authorised member payments), in subsection (2)(b), after...
In section 165 (pension rules), in subsection (3)(a), for “unsecured...
In section 168(1) (lump sum death benefit rule), for paragraph...
In section 169 (recognised transfers), in subsection (1D)—
(1) Section 172B (increase in rights of connected person on...
Omit section 172BA (increase in rights on death arising from...
Omit section 181A (minimum level of payment of alternatively secured...
(1) In Part 1 of Schedule 28 to FA 2004,...
(1) Section 182 (unauthorised borrowing: money purchase arrangements) is amended...
In section 211 (surchargeable unauthorised member payments: valuation of crystallised...
In section 212 (surchargeable unauthorised member payments: valuation of uncrystallised...
(1) In section 216 (benefit crystallisation events and amounts crystallised),...
In section 241(1) (scheme chargeable payment), omit paragraph (aa) (and...
In section 268 (unauthorised payments surcharge and scheme sanction charge),...
In section 273A (insurance company liable as scheme administrator), in...
(1) Section 280(2) (general index) is amended as follows.
In Schedule 28 (pension rules), omit the following provisions—
(1) Schedule 29 (authorised lump sums) is amended as follows....
(1) Paragraph 10 of that Schedule (basis amount) is amended...
(1) Schedule 32 (benefit crystallisation events: supplementary) is amended as...
(1) Schedule 34 (non-UK schemes: application of certain charges) is...
(1) Schedule 36 (transitional provisions and savings) is amended as...
In section 30(1) of ITA 2007 (additional tax), after the...
In consequence of the amendments made by this Schedule, omit...
Subject to the provisions of this Part, the amendments made...
Any person who, immediately before 6 April 2011, was entitled...
Paragraph 6 of Schedule 28 to FA 2004 (short-term annuity)...
Paragraph 8(1A) of Schedule 28 to FA 2004 (member's drawdown...
(1) This paragraph applies in the case of a person...
After paragraph 10 of that Schedule insert— (1) This paragraph applies in relation to drawdown pension years...
(1) This paragraph applies in the case of a person...
(1) This paragraph applies in the case of a person...
(1) This paragraph applies in the case of a person...
(1) This paragraph applies in the case of a person...
Any person who, immediately before 6 April 2011, was entitled...
Paragraph 20 of Schedule 28 to FA 2004 (short-term annuity)...
Paragraph 22(2) of Schedule 28 to FA 2004 (dependant's drawdown...
(1) This paragraph applies in the case of a person...
(1) This paragraph applies in the case of a person...
(1) This paragraph applies in the case of a person...
Part 4 of FA 2004 (pension schemes etc) is amended...
(1) Section 234 (defined benefits arrangements) is amended as follows....
(1) Section 235 (defined benefits arrangements: uprating of opening value)...
(1) Section 236 (defined benefits arrangements: adjustments of closing value)...
After section 236 insert— Post-entitlement enhancements (1) This section applies in relation to the arrangement if,...
In subsection (5) of section 237 (hybrid arrangements), for “236”...
After that section insert— Liability of individual (1) The individual is liable to the annual allowance charge....
(1) Section 238 (pension input period) is amended as follows....
After that section insert— Power to make orders about charge...
In section 254 (accounting for tax by scheme administrators), after...
In section 255(1) (assessments), after paragraph (c) insert—
In section 172D(4)(b) (limit on increase in benefits), for “236”...
In section 269(1)(a) (appeal against discharge of liability), after “under”...
In section 279(1) (other definitions), insert at the appropriate places—...
In section 280(2) (general index), insert at the appropriate places—...
In section 282(1A) (orders and regulations subject to Commons-only draft...
(1) Schedule 34 (currently-relieved non-UK pension schemes etc) is amended...
In Schedule 36 (transitional provision etc), omit paragraph 49 (disapplication...
(1) In FA 2009— (a) in Schedule 2, omit paragraph...
(1) The amendments made by Part 1 have effect for...
(1) This paragraph applies where— (a) the pension input period...
Where paragraph 28 applies in the case of the individual,...
(1) Section 227 (annual allowance charge) is amended as follows....
(1) This paragraph has effect in relation to the application...
In determining under section 233 of FA 2004 the pension...
Section 237B has effect in relation to the tax year...
Section 254(7A) has effect in relation to the tax year...
Expressions used in this Part of this Schedule and Part...
For section 228 substitute— Annual allowance (1) The annual allowance for the tax year 2011-12 and,...
After that section insert— Carry forward of unused annual allowance...
(1) Section 229 (total pension input amount) is amended as...
(1) Section 230 (cash balance arrangements) is amended as follows....
In section 231 (cash balance arrangements: uprating of opening value),...
(1) Section 232 (cash balance arrangements: adjustments of closing value)...
Part 4 of FA 2004 (pension schemes etc) is amended...
(1) Paragraph 28(3) is amended as follows.
(1) Paragraph 34(2) is amended as follows.
In the Registered Pension Schemes (Standard Lifetime and Annual Allowances)...
The amendments made by Part 1 have effect for the...
(1) This paragraph applies on and after 6 April 2012...
(1) The Commissioners for Her Majesty's Revenue and Customs may...
(1) The Commissioners for Her Majesty's Revenue and Customs may...
(1) Regulations under paragraph 15 or 16 may include supplementary...
(1) Section 218 (individual's lifetime allowance and standard lifetime allowance)...
Schedule 29 (authorised lump sums) is amended as follows.
(1) Paragraph 7 (trivial commutation lump sum) is amended as...
(1) Paragraph 10 (winding-up lump sum) is amended as follows....
(1) Paragraph 20 (trivial commutation lump sum death benefit) is...
(1) Paragraph 21 (winding-up lump sum death benefit) is amended...
Schedule 36 (transitional provision) is amended as follows.
In paragraph 16(3), for “standard lifetime allowance when the first...
There is to be a tax called “the bank levy”....
The relevant group is a “foreign banking group” if—
The relevant group is a “relevant non-banking group” if—
(1) The relevant group is a “banking group” if—
(1) The exempt activities condition is met for the purposes...
(1) For the purposes of this Schedule, “ assets ”,...
(1) This paragraph applies if the bank levy is charged...
(1) This paragraph applies if the bank levy is charged...
“ UK sub-group” means a group of entities—
(1) “Chargeable UK resident entity” means a UK resident entity...
(1) This paragraph applies if— (a) the bank levy is...
(1) This paragraph applies if— (a) the bank levy is...
(1) An election made under paragraph 15D or 15E in...
(1) This paragraph applies, in relation to a UK resident...
(1) This paragraph applies in relation to a UK sub-group...
(1) This paragraph applies in relation to a UK resident...
(1) This paragraph applies in relation to a designated FPE...
(1) This paragraph applies in relation to a UK sub-group...
(1) If the relevant group’s responsible member makes an election...
For the purposes of paragraphs 15N to 15Z , references...
(1) To adjust the amount of the equity and liabilities...
(1) This paragraph applies if— (a) the bank levy is...
(1) This paragraph applies if the bank levy is charged...
(1) This paragraph applies if the bank levy is charged...
(1) This paragraph applies if the bank levy is charged...
(1) Paragraph 15U applies if— (a) the bank levy is...
(1) Paragraph 15U also applies if— (a) the bank levy...
(1) The amount of M’s net settlement liabilities is to...
(1) This paragraph applies for the purposes of paragraphs 15W...
(1) Paragraph 15X applies in relation to a chargeable UK...
(1) The amount within Step 3 in paragraph 15N(1) is...
(1) This paragraph makes provision about regulations under any provision...
(1) This paragraph applies where— (a) as at the end...
Take Steps 1 to 4 to determine the non-UK allocated...
(1) This paragraph applies for the purposes of Step 2...
(1) Paragraph 15Z4 applies for the purposes of Steps 1...
(1) In determining the amount of E’s assets at Step...
(1) If a relevant equity and liabilities amount is less...
The bank levy is charged on certain types of equity...
(1) Take Steps 1 to 4 to determine the amount...
(1) This paragraph applies for the purposes of Steps 1...
(1) This paragraph applies for the purposes of Step 2...
(1) This paragraph applies for the purposes of Step 3...
(1) Paragraph 27D applies for the purposes of paragraph 27(2)(b)...
(1) Paragraph 27D also applies for the purposes of paragraph...
Section 556 of CTA 2009 (meaning of securities and similar...
(1) The amount of B’s net settlement liabilities is to...
(1) Equity or liabilities are “excluded” so far as they...
(1) Liabilities representing protected deposits are excluded.
In this Schedule— Part 3 contains provision defining the different...
(1) Equity and liabilities which are “tier one capital equity...
(1) Sovereign repo liabilities are excluded. (2) “ Sovereign repo...
(1) Sovereign stock-lending liabilities are excluded. (2) “ Sovereign stock-lending...
(1) Relevant insurance liabilities are excluded. (2) “ Relevant insurance...
(1) Relevant property, plant and equipment reserves are excluded.
(1) Relevant tax liabilities are excluded. (2) ...“ relevant tax...
(1) Relevant retirement benefit liabilities are excluded.
(1) Financial services compensation scheme liabilities are excluded.
(1) Liabilities representing clients' money held by an authorised person...
(1) Liabilities are excluded if they represent cash collateral provided...
(1) Currency liabilities are excluded. (2) “ Currency liabilities ”...
(1) The bank levy is charged if, as at the...
(1) The Treasury may by order add to, repeal or...
(1) This paragraph applies where an entity does not prepare...
(1) This paragraph applies for the purposes of this Schedule....
(1) This paragraph applies if— (a) the relevant group is...
(1) This paragraph applies for the purpose of determining the...
For the purposes of this Schedule— (a) the territory in...
In calculating profits or losses for the purposes of income...
(1) This paragraph applies if— (a) arrangements are entered into...
(1) Section 1139 of CTA 2010 (definition of “tax advantage”)...
(1) The Commissioners for Her Majesty's Revenue and Customs are...
(1) The bank levy is charged if, as at the...
(1) This paragraph applies where the bank levy is charged...
(1) This paragraph applies where the bank levy is charged...
(1) Paragraphs 50(2) and 51(2) are to be taken as...
(1) This paragraph applies where the bank levy is charged...
(1) This paragraph applies where— (a) an entity (the “ring-fenced...
(1) This paragraph applies where the bank levy is charged...
(1) This paragraph applies for the purposes of paragraph 54(3)....
(1) This paragraph applies for the purposes of paragraph 54(3)...
In section 1 of the Provisional Collection of Taxes Act...
TMA 1970 is amended as follows.
(1) Section 59E (provision about when corporation tax is due...
At the end of section 59F(6) (provision for paying corporation...
(1) This paragraph applies where the bank levy is charged...
Schedule 18 to FA 1998 (company tax returns) is amended...
At the end of paragraph 1 insert , and paragraphs...
After paragraph 3 insert— (1) Her Majesty's Revenue and Customs may from time to...
(1) Paragraph 8 is amended as follows.
(1) Paragraph 11 is amended as follows.
(1) Sub-paragraphs (2) to (6) apply if the chargeable period...
(1) If the Treasury by order declares—
(1) The Treasury may by regulations make provision for relief...
(1) If the Treasury by order declares that—
(1) Sub-paragraph (2) applies if the law of a foreign...
In section 23 of the Constitutional Reform and Governance Act...
(1) In calculating profits or losses for the purposes of...
(1) Paragraph 6(2) applies subject to this paragraph if some...
(1) In this Schedule— “arrangements” includes any agreement, understanding, scheme,...
(1) “ Asset management activities ” means activities which consist...
(1) “The capital resources condition” is that the entity has...
(1) “Excluded entity” means an entity which is—
All equity is “long term”.
(1) Liabilities are “long term” to the extent that—
(1) Liabilities are also “long term” so far as they...
(1) Liabilities under derivative contracts are never “long term” (and...
Paragraphs 74 to 76A are subject to Step 7 in...
(1) “ Relevant foreign bank ” means an entity which—...
“ Relevant regulated activity ” means an activity which is...
The relevant group is a “ UK banking group” if—...
(1) “ UK resident bank ” means an entity which—...
(1) The Treasury may, by order made by statutory instrument,...
The relevant group is a “building society group” if the...
Supplies of commodities to be used in producing electricity
Supplies of commodities to be used in producing electricity
Supplies of commodities to be used in producing electricity
Supplies of commodities to be used in producing electricity
Supplies of commodities to be used in producing electricity
Supplies of commodities to be used in producing electricity
Supplies of commodities to be used in producing electricity
Supplies of commodities to be used in producing electricity
Supplies of commodities to be used in producing electricity
Part 4 of FA 2003 (stamp duty land tax) is...
In section 45 (contract and conveyance: effect of transfer of...
(1) Omit sections 71A(8), 72(7), 72A(8) and 73(5)(a) (which contain...
(1) Paragraph 5 of Schedule 4 (chargeable consideration: exchanges) is...
(1) Subject to what follows, the amendments made by paragraphs...
(1) The amendments made by paragraph 3 are treated as...
Part 4 of FA 2003 (stamp duty land tax) is...
After section 58C insert— Transfers involving multiple dwellings (1) Schedule 6B provides for relief in the case of...
After Schedule 6A insert— Schedule 6B Transfers involving multiple dwellings...
In section 57 of FA 2003 (disadvantaged areas relief), insert...
In section 87(3) of that Act (interest on unpaid tax),...
In paragraph 9 of Schedule 5 to that Act (amount...
In paragraph 12(2A) of Schedule 10 to that Act (notice...
In paragraphs 11(2C) and 19(2C) of Schedule 15 to that...
(1) The amendments made by this Schedule have effect in...
(1) An officer of Revenue and Customs may by notice...
(1) This paragraph applies if— (a) services that an individual...
(1) This paragraph applies if— (a) a person (“A”) performs...
(1) A person by or through whom interest is paid...
A person who (in whatever capacity) is in receipt of...
(1) A person who has a contractual obligation to make...
(1) A person who provides electronic stored-value payment services is...
(1) A person who— (a) provides services to enable or...
Money service businesses
(1) Each of the following is a relevant data-holder—
(1) A person who makes a payment derived from securities...
(1) A person by whom a payment out of public...
(1) A person by whom licences or approvals are issued...
(1) Each of the following is a relevant data-holder—
(1) Each of the following is a relevant data-holder—
(1) The power in paragraph 1(1) is exercisable to assist...
Each of the following is a relevant data-holder—
A person who is registered as managing agent at Lloyd's...
Each of the following is a relevant data-holder—
Each of the following is a relevant data-holder—
Each of the following is a relevant data-holder—
A person who is involved (in any capacity) in any...
(1) Each of the following is a relevant data-holder—
A charity is a relevant data-holder.
(1) The data-holder may appeal against a data-holder notice, or...
(1) Notice of an appeal under paragraph 28 must be...
(1) A data-holder notice must specify the relevant data to...
(1) If the data-holder fails to comply with a data-holder...
If— (a) a penalty under paragraph 30 is assessed, and...
(1) This paragraph applies if— (a) in complying with a...
A failure to do anything required to be done within...
(1) Liability to a penalty under paragraph 30 or 31...
(1) If the data-holder becomes liable to a penalty under...
(1) The data-holder may appeal against a decision by an...
(1) Notice of an appeal under paragraph 36 must be...
(1) This paragraph applies if— (a) a penalty under paragraph...
(1) If the tribunal makes a determination under paragraph 38,...
(1) Relevant data specified in a data-holder notice must be...
(1) A penalty under this Schedule must be paid before...
(1) If it appears to the Treasury that there has...
The data-holder is not liable to a penalty under this...
Subject to the provisions of this Schedule, the following provisions...
(1) Regulations under this Schedule are to be made by...
(1) In this Schedule “tax” means any or all of...
(1) For the purposes of this Schedule data form part...
In this Schedule— “address” includes an electronic address; “body of...
A reference in this Schedule to providing data includes—
(1) A reference in this Schedule to the carrying on...
(1) An officer of Revenue and Customs may ask for...
This Schedule applies to the Crown but not to Her...
(1) TMA 1970 is amended as follows.
In Schedule 15 to FA 1973 (territorial extension of charge...
(1) In section 24 of FA 1974 (returns of persons...
In Schedule 18 to FA 1986 (securities: other provisions), omit...
Omit the following provisions of ICTA so far as they...
In Schedule 12 to FA 1989 (close companies), omit paragraph...
(1) ITTOIA 2005 is amended as follows.
In Schedule 2 to FA 2005 (alternative finance arrangements: further...
In Schedule 2 to CRCA 2005 (functions of Commissioners and...
An officer of Revenue and Customs may take copies of...
FA 2008 is amended as follows.
In section 39 (dormant bank and building society accounts), in...
(1) Schedule 36 (information and inspection powers) is amended as...
In Chapter 4 of Part 4 of CTA 2009 (profits...
(1) CTA 2010 is amended as follows.
(1) This Schedule— (a) comes into force on 1 April...
(1) If an officer of Revenue and Customs thinks it...
(1) This Part of this Schedule sets out who is...
(1) Each of the following is a relevant data-holder—
Schedule 36 to FA 2008 (information and inspection powers) is...
(1) Paragraph 5 (power to obtain information and documents about...
(1) Paragraph 40A (penalties for inaccurate information and documents) is...
(1) After paragraph 49 insert— Increased daily default penalty (1) This paragraph applies if— (a) a penalty under paragraph...
(1) Paragraph 50 (tax-related penalty) is amended as follows.
In paragraph 61A (involved third parties), in the first column...
In this Schedule “MARD” means Council Directive 2010/24/EU.
The Treasury may by regulations make provision about procedural or...
(1) The taking or continuation of steps against a person...
(1) Steps under paragraph 6(3) must not be taken or...
In relation to any steps against a person under paragraph...
For the purposes of any steps under paragraph 6(3), a...
(1) Regulations under this Schedule are to be made by...
In this Schedule— “agricultural levy” has the meaning given by...
(1) Section 134 of and Schedule 39 to FA 2002...
(1) Section 322 of FA 2004 (mutual assistance: customs union...
This Schedule has effect in relation to the recovery of...
(1) The Commissioners are a competent authority in the United...
(1) No obligation of secrecy imposed by statute or otherwise...
(1) A public authority commits an offence if—
(1) It is a defence for a person charged with...
(1) This paragraph applies if an applicant authority of a...
(1) “The relevant UK authority” is— (a) if the foreign...
(1) In relation to a foreign claim, “corresponding UK claim”...
(1) In relation to any kind of foreign claim, the...
(1) Section 35 of, and Schedule 5 to, F(No.2)A 1997...
(1) Section 48 of FA 1998 (gifts of money for...
(1) Section 38 of FA 2000 (supplement payable in connection...
Section 691 of ITTOIA 2005 (National Savings Bank ordinary account...
Section 45 of FA 1944 (exemption of certain assignments by...
Section 31 of FA 1953 (instruments relating to National Savings)...
(1) In Schedule 13 to FA 1999 (stamp duty: instruments...
Browse 93 other sections — procedural / definitional / commencement
Charge and main rates for 2011-12
Basic rate limit for 2011-12
Personal allowance for 2011-12 for those aged under 65
Main rate for financial year 2011
Charge and main rate for financial year 2012
Small profits rate and fractions for financial year 2011
Increase in rate of supplementary charge
Annual exempt amount
Entrepreneurs' relief
Plant and machinery writing-down allowances
Annual investment allowance
Short-life assets
Rates of alcoholic liquor duties
General beer duty: reduced rate for lower strength beer
New high strength beer duty
Rates of tobacco products duty
Rates of gaming duty
Amusement machine licence duty
Fuel duties: rates of duty and rebates from 23 March 2011
Fuel duties: rates of duty and rebates from 1 January 2012
VED rates for light passenger vehicles, light goods vehicles, motorcycles etc
VED rates for certain goods vehicles without road-friendly suspension
Rates of climate change levy
Rate of aggregates levy
Standard rate of landfill tax
Employment income provided through third parties
Tainted charity donations
Amounts not fully recognised for accounting purposes
Loan relationships involving connected debtor and creditor
Group mismatch schemes
Company ceasing to be member of group: availability of relief
Leasing businesses
Long funding finance leases
Investment companies
Reduction in childcare relief for higher earners
Childcare: salary sacrifice etc and the national minimum wage
Accommodation expenses of MPs
Experts seconded to European Union bodies
Employment income: exemption for fees relating to monitoring schemes
Individual investment plans for children
Gift aid: increase of limits on total value of benefits associated with gifts
Enterprise investment scheme: amount of relief
Relief for expenditure on R&D by SMEs
Value shifting
Company ceasing to be member of a group
Pre-entry losses
Controlled foreign companies
Profits of foreign permanent establishments etc
Meaning of “investment trust”
Power to make provision about treatment of transactions
Taxable benefits: calculating the appropriate percentage for cars
Furnished holiday lettings
Leases and changes to accounting standards
Leasing companies: withdrawal of election
Companies with small profits: associated companies
Insurance companies: apportionment of amounts brought into account
Tonnage tax: capital allowances in respect of ship leasing
Transfer pricing: application of OECD principles
Offshore funds
Index-linked gilt-edged securities
PRT: areas treated as continuing to be oil fields
Intangible fixed assets: oil licences
Reduction of supplementary charge for certain new oil fields
Chargeable gains: oil activities
Benefits under pension schemes
Annual allowance charge
Lifetime allowance charge
Borrowing by section 67 pension scheme
Exemption from tax on interest on unpaid relevant contributions
Power to make further provision about section 67 pension scheme
Tax provision consequential on Part 1 of Pensions Act 2008 etc
Foreign pensions of UK residents
The bank levy
Business samples
Zero-rating: splitting of supplies
Academies
Relief from VAT on imported goods of low value
Supplies of commodities to be used in producing electricity
Northern Ireland gas supplies
Power to suspend exemption for supplies used in recycling processes
Transitional tax credit
Prevention of avoidance
Transfers involving multiple dwellings
Interests in collective investment schemes
Security for payment of PAYE
Data-gathering powers
Mutual assistance for recovery of taxes etc
Amendments of section 1 of the Provisional Collection of Taxes Act 1968
Specified investments
Machine games duty
Redundant reliefs
Interpretation
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