| Guvnor

Enforced by: HMRC
Status: In Force
Penalty ceiling: Imprisonment 4 of 34 obligations carry an unlimited fine. 1 carries different penalties and 29 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person12 Trader9 Applicant1 Taxable Person1 Operator1

Plus 10 duties 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

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

Trader — also bound by 825 other Acts

Value Added Tax Regulations 1995 416 duties

Companies Act 2006 243 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 133 duties

Companies Act 1985 85 duties

Insolvency (England and Wales) Rules 2016 62 duties

Applicant — also bound by 307 other Acts

Insolvency (England and Wales) Rules 2016 46 duties

Human Medicines Regulations 2012 42 duties

The Land Registration Rules 2003 25 duties

Regulation (EU) No 1178/2011 (Aircrew) 20 duties

Value Added Tax Regulations 1995 18 duties

Taxable Person — also bound by 11 other Acts

Council Directive 2006/112/EC (EU VAT Directive - retained for reference) 52 duties

Value Added Tax Regulations 1995 27 duties

Council Implementing Regulation (EU) No 282/2011 of 15 March 2011 laying down implementing measures for Directive 2006/112/EC on the common system of value added tax (recast) 14 duties

Air Departure Tax (Scotland) Act 2017 7 duties

Value Added Tax Act 1994 5 duties

Operator — also bound by 746 other Acts

Regulation (EU) No 965/2012 (Air Operations) 203 duties

Commission Implementing Regulation (EU) 2018/2066 of 19 December 2018 on the monitoring and reporting of greenhouse gas emissions pursuant to Directive 2003/87/EC of the European Parliament and of the Council and amending Commission Regulation (EU) No 601/2012 (Text with EEA relevance) 121 duties

Commission Regulation (EU) No 601/2012 of 21 June 2012 on the monitoring and reporting of greenhouse gas emissions pursuant to Directive 2003/87/EC of the European Parliament and of the Council (Text with EEA relevance) (repealed) 112 duties

Space Industry Regulations 2021 76 duties

Regulation (EU) 2016/429 of the European Parliament and of the Council of 9 March 2016 on transmissible animal diseases and amending and repealing certain acts in the area of animal health (‘Animal Health Law’) (Text with EEA relevance) 66 duties

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

Income tax, corporation tax and capital gains tax

0 of 54 sections shown

54 other sections in this Part — procedural and definitional

s.001 Charge for 2012-13 and rates for 2012-13 and subsequent tax years

s.002 Basic rate limit for 2012-13

s.003 Personal allowance for 2012-13 for those aged under 65

s.004 Personal allowances from 2013

s.005 Main rate of corporation tax for financial year 2012

s.006 Charge and main rate for financial year 2013

s.007 Small profits rate and fractions for financial year 2012

s.008 High income child benefit charge

s.009 Post-cessation trade or property relief: tax-generated payments or events

s.010 Property loss relief against general income: tax-generated agricultural expenses

s.011 Gains from contracts for life insurance etc

s.012 Settlements: income originating from settlors other than individuals

s.013 Champions League final 2013

s.014 Cars: security features not to be regarded as accessories

s.015 Termination payments to MPs ceasing to hold office

s.016 Employment income exemptions: armed forces

s.017 Taxable benefits: “the appropriate percentage” for cars for 2014-15

s.018 Qualifying time deposits

s.019 Profits arising from the exploitation of patents etc

s.020 Relief for expenditure on R&D

s.021 Real estate investment trusts

s.022 Treatment of the receipt of manufactured overseas dividends

s.023 Loan relationships: debts becoming held by connected company

s.024 Companies carrying on businesses of leasing plant or machinery

s.025 Corporate members of Lloyd's: stop-loss insurance and quota share contracts

s.026 Abolition of relief for equalisation reserves: general insurers

s.027 Election to accelerate receipts under s.26(4)

s.028 Deemed receipts under s.26(4): double taxation relief

s.029 Transfer of whole or part of the business

s.030 Abolition of relief for equalisation reserves: Lloyd's corporate members etc

s.031 Tax treatment of financing costs and income

s.032 Group relief: meaning of “normal commercial loan”

s.033 Company distributions

s.034 Annual exempt amount

s.035 Foreign currency bank accounts

s.036 Collective investment schemes: chargeable gains

s.037 Roll-over relief

s.038 Seed enterprise investment scheme

s.039 Enterprise investment scheme

s.040 Venture capital trusts

s.041 Plant and machinery: restricting exception for manufacturers and suppliers

s.042 Plant and machinery allowances: anti-avoidance

s.043 Plant and machinery allowances: fixtures

s.044 Expenditure on plant and machinery for use in designated assisted areas

s.045 Allowances for energy-saving plant and machinery

s.046 Plant and machinery: long funding leases

s.047 Foreign income and gains

s.048 Employer asset-backed pension contributions etc

s.049 Gifts to the nation

s.050 Gift aid: giving through self-assessment return

s.051 Relief for gift aid and other income of charities etc

s.052 Meaning of “community amateur sports club”

s.053 Site restoration payments

s.054 Changes of accounting policy

Part 2

Insurance companies carrying on long-term business

20 of 101 sections shown

s.101 Commercial allocation for disposals not wholly dealt with by section 100 Regulated

Adopt an acceptable commercial method for allocating BLAGAB gains and lossesTrader

s.102 Policyholders' rate of tax on policyholders' share of I - E profit

amended 3 times (opens in a new tab)

s.103 Rules for determining policyholders' share of I - E profit

amended 1 time (opens in a new tab)

s.104 Meaning of “the adjusted amount”

amended 3 times (opens in a new tab)

s.108 Meaning of “the closing deferred policyholder tax balance” etc

amended 1 time (opens in a new tab)

s.114 Application of Chapter

amended 1 time (opens in a new tab)

s.115 Commercial allocation of accounting profit or loss and tax adjustments

amended 1 time (opens in a new tab)

s.124 Carry forward of pre-1 April 2017 BLAGAB trade losses against subsequent profits

amended 3 times (opens in a new tab)

s.124 Carry forward of post-1 April 2017 BLAGAB trade losses against subsequent profits

amended 3 times

s.124 Excess carried forward post-1 April 2017 losses: relief against total profits

amended 3 times

s.124 Further carry forward against subsequent profits of post-1 April 2017 loss not fully used

amended 3 times

s.124 Restriction on deductions from BLAGAB trade profits

amended 3 times

s.124 Section 124D: shock losses excluded from the restriction

amended 3 times

s.125 Group relief

amended 1 time (opens in a new tab)

s.126 Restrictions in respect of non-trading deficit

amended 3 times (opens in a new tab)

s.127 No relief against policyholders' share of I - E profit

amended 2 times (opens in a new tab)

s.129 Intra-group transfers and demutualisation

amended 3 times (opens in a new tab)

s.134 Section 133: supplementary Regulated

Other duties (1) — Crown / regulator

HMRC must decide on insurance transfer applications within 30 daysStatutory regulator

s.137 Meaning of “the long-term business fixed capital”

amended 1 time (opens in a new tab)

s.139 Minor definitions

amended 5 times (opens in a new tab)

81 other sections in this Part — procedural and definitional

s.055 Overview

s.056 Meaning of “life assurance business”

s.057 Meaning of “basic life assurance and general annuity business”

s.058 Section 57: meaning of “pension business”

s.059 Section 57: meaning of “child trust fund business”

s.060 Section 57: meaning of “individual savings account business”

s.061 Section 57: meaning of “overseas life assurance business”

s.062 Section 57: meaning of “protection business”

s.063 Meaning of “long-term business” and “PHI business”

s.064 Meaning of “contract of insurance” and “contract of long-term insurance”

s.065 Meaning of “insurance company”

s.066 Separate businesses for BLAGAB and other long-term business

s.067 Exception where BLAGAB small part of long-term business

s.068 Charge to tax on I - E profit

s.069 Exclusion of charge under s.35 of CTA 2009 etc

s.070 Rules for calculating I - E profit or excess BLAGAB expenses

s.071 Charge to tax on profits of non-BLAGAB long-term business

s.072 Companies carrying on only PHI business

s.073 The I - E basis

s.074 Meaning of “income”

s.075 Meaning of “BLAGAB chargeable gains” etc

s.076 Meaning of “adjusted BLAGAB management expenses”

s.077 Section 76: meaning of “ordinary BLAGAB management expenses” etc

s.078 Section 76: meaning of other expressions

s.079 Spreading of acquisition expenses

s.080 Section 79: meaning of “acquisition expenses”

s.081 Amounts treated as ordinary BLAGAB management expenses

s.082 Restrictions in relation to ordinary BLAGAB management expenses

s.083 General annuity business

s.084 General annuity business: meaning of “steep-reduction annuity” etc

s.085 General annuity business: payments made in pre-1992 accounting periods

s.086 Separate property businesses for BLAGAB etc

s.087 Losses from property businesses where land held for long-term business

s.088 Loan relationships, derivative contracts and intangible fixed assets

s.089 Miscellaneous income and losses

s.090 Investment return where risk in respect of policy or contract re-insured

s.091 Regulations under section 90(4): supplementary provision

s.092 Certain BLAGAB trading receipts to count as deemed I - E receipts

s.093 Minimum profits test

s.094 Adjustment of I - E profit or excess BLAGAB expenses

s.095 Use of non-BLAGAB allowable losses to reduce I - E profit

s.096 Expenses referable to exempt FOTRA profits

s.097 Application of Chapter

s.098 Commercial allocation

s.099 Application of sections 100 and 101

s.100 Assets wholly or partly matched to BLAGAB liabilities

s.105 Meaning of “BLAGAB non-taxable distributions” and “shareholders' share”

s.106 Deduction for current policyholder tax

s.107 Expenses or receipts for deferred policyholder tax

s.109 Application of Chapter

s.110 Allocations to policyholders

s.111 Dividends and other distributions

s.112 Index-linked gilt-edged securities

s.113 Receipts or expenses relating to long-term business fixed capital

s.116 UK life insurance companies

s.117 Overseas life insurance companies: rule corresponding to s.116

s.118 Transfers of business and transfers within a group

s.119 UK life insurance companies

s.120 Overseas life insurance companies: rule corresponding to s.119

s.121 Sections 119 and 120: supplementary

s.122 Assets forming part of long-term business fixed capital

s.123 Relief for BLAGAB trade losses against total profits

s.128 Relief for transferee in respect of transferor's excess BLAGAB expenses

s.130 Transfers between non-group companies: present value of in-force business

s.130 Re-insurance in the course of transfer of BLAGAB

s.131 Application of ss. 129 and 130 to transfers of non-BLAGAB long-term business

s.132 Anti-avoidance

s.133 Clearance procedure

s.135 Meaning of “group” of companies

s.136 Meaning of “BLAGAB trade profit” and “BLAGAB trade loss”

s.138 Meaning of assets that are “matched to” liabilities

s.140 Abbreviations

s.141 Index of defined terms, etc

s.142 Power to amend Part 2 etc

s.143 Power to amend definition of “insurance business transfer scheme” etc

s.144 Power to modify provisions applying to overseas life insurance companies

s.145 Orders and regulations

s.146 Minor and consequential amendments

s.147 Transitional provision

s.148 Commencement

s.149 Accounting periods straddling 1 January 2013

Part 3

Friendly societies carrying on long-term business

3 of 30 sections shown

s.169 Payments by non-qualifying societies treated as qualifying distributions

amended 1 time (opens in a new tab)

s.172 Minor definitions

amended 1 time (opens in a new tab)

s.174 Index of defined terms

amended 1 time (opens in a new tab)

27 other sections in this Part — procedural and definitional

s.150 Overview

s.151 Friendly societies subject to same basic rules as mutual insurers

s.152 Friendly societies subject to transfer of business rules

s.153 Exemption for certain BLAGAB or eligible PHI business

s.154 Meaning of “BLAGAB or eligible PHI business”

s.155 Meaning of “exempt” BLAGAB or eligible PHI business

s.156 Societies with no provision for assuring gross sums exceeding £2,000 etc

s.157 Transfers to friendly societies

s.158 Transfers from friendly societies to insurance companies etc

s.159 Exception in case of breach of maximum benefits payable to members

s.160 Maximum benefits payable to members

s.161 Section 160: supplementary

s.162 Section 160: statutory declarations

s.163 Directions given to old societies

s.164 Societies registered before 1 June 1973, etc

s.165 Incorporated friendly societies

s.166 Transfers from friendly societies to insurance companies etc

s.167 Transfers between friendly societies

s.168 Withdrawal of qualifying status

s.170 Transfer schemes under s.6(5) of FSA 1992

s.171 Exemption for unregistered friendly societies

s.173 Abbreviations

s.175 Regulations

s.176 Consequential amendments

s.177 Transitional provision

s.178 Commencement

s.179 Accounting periods straddling 1 January 2013

Part 4

Controlled foreign companies and foreign permanent establishments

0 of 1 section shown

1 other section in this Part — procedural and definitional

s.180 Controlled foreign companies and foreign permanent establishments

Part 5

Oil

0 of 4 sections shown

4 other sections in this Part — procedural and definitional

s.181 Transfers within a group by companies carrying on ring fence trade

s.182 Supplementary charge

s.183 Relief in respect of decommissioning expenditure

s.184 Reduction of supplementary charge for certain oil fields

Part 6

Excise duties

4 of 11 sections shown

s.188 Rates of duty and rebates from 1 August 2012 to 31 December 2012 Regulated

Other duties (1) — Crown / regulator

HMRC must apply specific fuel duty rates for Late 2012Statutory regulator

s.189 Rebated fuel: private pleasure craft

amended 1 time (opens in a new tab)

s.190 Air passenger duty Regulated

Other duties (1) — Crown / regulator

HMRC must implement changes to Air Passenger Duty rulesStatutory regulator

s.191 Machine games duty Regulated

Other duties (1) — Crown / regulator

HMRC must implement Machine Games Duty replacing previous licence feesStatutory regulator

7 other sections in this Part — procedural and definitional

s.185 Rates of tobacco products duty

s.186 Rates of alcoholic liquor duties

s.187 Repeal of drawback on British compounds and spirits of wine

s.192 Amusement machine licence duty

s.193 Rates of gaming duty

s.194 Remote gambling: double taxation relief

s.195 VED rates for light passenger vehicles, light goods vehicles, motorcycles etc

Part 7

Value added tax

0 of 9 sections shown

9 other sections in this Part — procedural and definitional

s.196 Changes to the categorisation of supplies

s.197 Exempt supplies

s.198 Supply of goods or services by public bodies

s.199 Relief from VAT on low value goods: restriction relating to Channel Islands

s.200 Group supplies using an overseas member

s.201 Face-value vouchers

s.202 Power to require notification of arrival of means of transport in UK

s.203 Non-established taxable persons

s.204 Administration of VAT

Part 8

Other taxes

2 of 13 sections shown

s.213 Rate in respect of residential property where consideration over £2m

amended 1 time (opens in a new tab)

s.216 Health service bodies

amended 2 times (opens in a new tab)

11 other sections in this Part — procedural and definitional

s.205 Standard rate of landfill tax

s.206 Landfill sites in Scotland

s.207 Climate change levy

s.208 Indexation of rate bands

s.209 Gifts to charities etc

s.210 Settled property: effect of certain arrangements

s.211 The bank levy

s.212 Prevention of avoidance: subsales etc

s.214 Higher rate for certain transactions

s.215 Disclosure of stamp duty land tax avoidance schemes

s.217 Collective investment schemes: stamp duty and stamp duty reserve tax

Part 9

Miscellaneous matters

2 of 10 sections shown

s.221 Tax consequences of financial sector regulation

amended 2 times (opens in a new tab)

s.223 Tax agents: dishonest conduct

amended 2 times (opens in a new tab)

8 other sections in this Part — procedural and definitional

s.218 Agreement between UK and Switzerland

s.219 Penalties: offshore income etc

s.220 International military headquarters, EU forces, etc

s.222 Removal of special provision for incapacitated persons and minors

s.224 Information powers

s.225 PAYE regulations: information

s.226 New tax on ownership of high-value residential properties or dwellings

s.227 Repeals of miscellaneous reliefs etc

Part 10

Final provisions

0 of 2 sections shown

2 other sections in this Part — procedural and definitional

s.228 Interpretation

s.229 Short title

Schedules

29 of 1158 shown

s.001 High income child benefit charge Regulated

Notify HMRC and pay the High Income Child Benefit ChargeAny Person

s.sch007 After section 178 insert— The no disqualifying arrangements requirement (1) The relevant shares must not be issued, nor any... Regulated

Do not issue shares or use funds in connection with disqualifying arrangementsTrader

s.sch008 After section 299 insert— The no disqualifying arrangements requirement (1) The relevant holding must not have been issued, nor... Regulated

Ensure share issuance and use of funds are not part of disqualifying arrangementsTrader

s.sch014 (1) A company that makes an offer in the circumstances... Regulated

Request suspension of tax payment under Patent Box schemeTrader

s.sch014 (1) An individual who makes an offer in the circumstances... Regulated

Formally request HMRC to suspend tax payments during patent gift negotiationsTrader

s.sch017 (1) An application under paragraph 18 must— Regulated

Submit written patent box application with full and accurate particularsApplicant

s.sch017 (1) The insurance company— (a) must, by comparing amounts shown... Regulated

Insurance companies must determine and allocate transitional difference itemsTrader

s.sch023 In section 30 (rate of duty) before subsection (5) insert—... Regulated

Pay doubled APD rate for aircraft weighing ≥20 tonnes with ≤18 passenger seatsOperator

s.sch024 (1) A person is liable for machine games duty in... Regulated

Pay machine games duty on dutiable machines available for public useAny Person

s.sch024 (1) The MGD register is to contain such details of... Regulated

Other duties (1) — Crown / regulator

HMRC must provide register entry copies to the public on requestStatutory regulator

s.sch024 In Schedule 55 to FA 2009 (penalty for failure to... Prosecution

Fail to make returns on time (Patent Box related)Any Person

Unlimited fine

s.sch024 (1) A person commits an offence if the person is... Prosecution

Fraudulently evade machine games dutyAny Person

Unlimited fine

s.sch024 The imposition or payment of machine games duty does not... Regulated

Machine games duty does not make illegal activities lawfulAny Person

s.sch024 (1) Machine games duty is charged on a taxable person's... Regulated

Calculate and pay Machine Games Duty at the correct rate for each machine typeTaxable Person

s.sch025 After section 5D insert— Double taxation relief (1) This section applies if a person (“P”) is liable... Regulated

Claim double taxation relief on betting duties paid abroadAny Person

s.sch025 After section 10 insert— Definition of qualifying foreign tax (1) For the purposes of general betting duty or pool... Regulated

Other duties (1) — Crown / regulator

HMRC must publish and maintain a list of qualifying foreign taxes for betting dutiesStatutory regulator

s.sch025 Before Schedule 1 insert— SCHEDULE A1 Betting duties: double taxation... Regulated

Repay overclaimed double taxation relief on betting duties and notify HMRC of relevant changesTrader

s.sch025 After Schedule 4A insert— SCHEDULE 4B Remote gaming duty: double... Regulated

Notify HMRC of changes to foreign tax, refunds or tax reliefAny Person

s.sch028 In VATA 1994, after Schedule 1 insert— SCHEDULE 1A Registration... Regulated

s.sch035 After Schedule 4 insert— SCHEDULE 4A Stamp duty land tax:... Regulated

Pay 15% SDLT on high-value residential purchases by companies and similar entitiesTrader

s.sch038 Tax agents: dishonest conduct Imprisonment

Conceal or destroy documents after a conduct noticeAny Person

s.sch038 (1) If a document is provided pursuant to a file... Regulated

Other duties (1) — Crown / regulator

HMRC must provide copies of retained documents and compensate for loss or damageStatutory regulator

s.sch038 (1) If the document-holder is a person other than the... Regulated

Comply with a file access notice if upheld or varied on appealAny Person

s.sch038 (1) A person (“P”) commits an offence if P— Prosecution

Conceal or destroy documents required by HMRC file access noticeAny Person

Unlimited fine

s.sch038 (1) This paragraph applies if— (a) a penalty under paragraph... Regulated

Other duties (1) — Crown / regulator

HMRC can seek increased daily penalties for continued file access failuresStatutory regulator

s.sch038 (1) An officer of Revenue and Customs may withdraw a... Regulated

Other duties (1) — Crown / regulator

HMRC must notify you if they withdraw a conduct notice, and the notice expires if no penalty assessed by deadlineStatutory regulator

s.sch038 (1) If a person becomes liable to a penalty under... Regulated

Other duties (1) — Crown / regulator

HMRC must notify you if they assess a Patent Box penaltyStatutory regulator

s.sch038 (1) FA 2003 is amended as follows. Prosecution

Falsify or destroy documents requested by HMRCAny Person

Unlimited fine

s.sch039 (1) The Income Tax (Life Assurance Premium Relief) Regulations 1978... Regulated

Submit annual life assurance premium relief claims within statutory deadlinesAny Person

1129 other schedules

s.005 Tax treatment of financing costs and income

s.007 Enterprise investment scheme

s.008 Venture capital schemes

s.011 Expenditure on plant and machinery for use in designated assisted areas

s.012 Foreign income and gains

s.013 Employer asset-backed pension contributions etc

s.014 Gifts to the nation

s.015 Relief in respect of gift aid and other income

s.017 Part 2: transitional provision

s.018 Part 3: consequential amendments

s.020 Controlled foreign companies and foreign permanent establishments

s.022 Reduction of supplementary charge for certain oil fields

s.023 Air passenger duty

s.024 Machine games duty

s.025 Remote gambling: double taxation relief

s.026 Categorisation of supplies

s.028 Non-established taxable persons

s.029 Administration of VAT

s.030 Climate change levy

s.031 Climate change levy: climate change agreements

s.035 Stamp duty land tax: higher rate for certain transactions

s.037 International military headquarters, EU forces, etc

s.sch001 In Part 10 of ITEPA 2003 (social security benefits), after...

s.sch001 In section 7 of TMA 1970 (notice of liability to...

s.sch001 After section 13 of the Social Security Administration Act 1992...

s.sch001 After section 11 of the Social Security Administration (Northern Ireland)...

s.sch001 (1) ITEPA 2003 is amended as follows.

s.sch001 (1) ITA 2007 is amended as follows.

s.sch001 (1) The amendments made by this Schedule have effect for...

s.sch002 Profits arising from the exploitation of patents etc

s.sch002 (1) In CTA 2010, after Part 8 insert— PART 8A...

s.sch002 In Part 4 of TIOPA 2010 (transfer pricing), Chapter 3...

s.sch002 In section 166 (exemption for small and medium-sized enterprises), in...

s.sch002 After section 167 insert— Small enterprises: exception from exemption: transfer...

s.sch002 In section 170 (appeals against transfer pricing notices), in subsection...

s.sch002 In section 171 (tax returns where transfer pricing notice given),...

s.sch002 (1) The amendments made by this Schedule have effect in...

s.sch002 (1) In each of the financial years in the Table...

s.sch003 Relief for expenditure on R&D

s.sch003 Part 13 of CTA 2009 (additional relief for expenditure on...

s.sch003 (1) Section 1046 (relief only available where company is going...

s.sch003 (1) Section 1057 (tax credit only available where company is...

s.sch003 Chapter 7 (relief for SMEs and large companies: vaccine research...

s.sch003 (1) Section 1094 (relief only available to SME where company...

s.sch003 (1) Section 1106 (tax credit only available where company is...

s.sch003 (1) Chapter 2 (relief for SMEs: cost of R&D incurred...

s.sch003 (1) Section 1039 (overview of Part 13) is amended as...

s.sch003 In section 1042 (“relevant research and development”), in subsection (3),...

s.sch003 In section 1046 (relief only available where company is going...

s.sch003 In section 1057 (tax credit only available where company is...

s.sch003 (1) Chapter 2 (relief for SMEs: cost of R&D incurred...

s.sch003 Chapter 7 (relief for SMEs and large companies: vaccine research...

s.sch003 (1) Section 1085 (overview of Chapter) is amended as follows....

s.sch003 (1) Section 1087 (deduction in calculating profits of trade) is...

s.sch003 (1) In section 1088 (large companies: declaration about effect of...

s.sch003 Omit sections 1089 and 1090 (which relate only to SMEs)....

s.sch003 (1) In section 1091 (large companies: amount of deduction), in...

s.sch003 Omit sections 1092 to 1096 and 1099 (which relate only...

s.sch003 (1) In section 1100 (large companies: qualifying expenditure “for” an...

s.sch003 Omit sections 1103 to 1111 (tax credits).

s.sch003 (1) Section 1112 (artificially inflated claims for relief or tax...

s.sch003 (1) Chapter 2 (relief for SMEs: cost of R&D incurred...

s.sch003 The heading of Chapter 7 becomes “ Relief for large...

s.sch003 (1) Chapter 8 (cap on aid for R&D) is amended...

s.sch003 In consequence of the amendments made by paragraphs 16 to...

s.sch003 Chapter 9 (supplementary) is amended as follows.

s.sch003 (1) Section 1128 (“externally provided worker”) is amended as follows....

s.sch003 (1) Section 1129 (connected persons) is amended as follows.

s.sch003 (1) Section 1130 (election for connected persons treatment) is amended...

s.sch003 In section 1131 (qualifying expenditure on externally provided workers: other...

s.sch003 The amendments made by paragraphs 2 and 16 to 37...

s.sch003 The amendments made by paragraphs 3 to 8 and 15...

s.sch003 (1) Chapter 3 (relief for SMEs: R&D sub-contracted to SME)...

s.sch003 The amendments made by paragraphs 9 to 14 have effect...

s.sch003 (1) Chapter 4 (relief for SMEs: subsidised and capped expenditure...

s.sch003 (1) Chapter 5 (relief for large companies) is amended as...

s.sch003 (1) Chapter 7 (relief for SMEs and large companies: vaccine...

s.sch003 In consequence of the amendments made by paragraphs 3 to...

s.sch003 Chapter 2 (relief for SMEs: cost of R&D incurred by...

s.sch004 Real estate investment trusts

s.sch004 Part 12 of CTA 2010 (real estate investment trusts) is...

s.sch004 (1) Section 572 (termination by notice given by HMRC) is...

s.sch004 After section 573 insert— Notice under section 572: condition D...

s.sch004 (1) Section 577 (multiple breaches of conditions in Chapter 2)...

s.sch004 (1) The amendments made by paragraph 2 have effect in...

s.sch004 In section 527 (being a UK REIT in relation to...

s.sch004 In section 528 (conditions for company) in subsection (3) for...

s.sch004 After section 528 insert— Further condition relating to shares (1) In the case of a group UK REIT, the...

s.sch004 In section 561 (notice of breach of relevant Chapter 2...

s.sch004 Before section 563 insert— Breach of further condition relating to...

s.sch004 (1) Section 572 (termination by notice given by HMRC) is...

s.sch004 (1) Section 525 (becoming a UK REIT: supplementary provision) is...

s.sch004 Before section 574 insert— Notice under section 572: further condition...

s.sch004 (1) Subject to what follows, the amendments made by paragraphs...

s.sch004 In section 530 (condition as to distribution of profits) in...

s.sch004 After section 530 insert— Condition as to distribution of profits:...

s.sch004 In section 564 (breach of condition as to distribution of...

s.sch004 (1) Section 565 (which defines the amount to be charged...

s.sch004 (1) The amendment made by paragraph 22 has effect in...

s.sch004 (1) Section 531 (conditions as to balance of business) is...

s.sch004 In section 547 (funds awaiting reinvestment) omit subsection (3).

s.sch004 (1) Section 566 (breach of condition B in section 531...

s.sch004 In section 527 (being a UK REIT in relation to...

s.sch004 Omit section 567 (breach of condition B in section 531...

s.sch004 In section 568 (breach of balance of business conditions after...

s.sch004 (1) The amendments made by paragraphs 27, 28 and 31...

s.sch004 (1) Omit sections 538 to 540 (entry charge).

s.sch004 (1) In section 545 (cancellation of tax advantage) in subsection...

s.sch004 (1) In section 556 (disposal of assets) omit subsection (4)....

s.sch004 (1) In section 558 (demergers: disposal of asset) in subsection...

s.sch004 In section 559 (demergers: company leaving group UK REIT) in...

s.sch004 In section 583 (overview of Chapter 10 relating to joint...

s.sch004 Omit sections 595 to 597 (additional entry charges in cases...

s.sch004 (1) Section 528 (conditions for company) is amended as follows....

s.sch004 (1) Section 543 (financing cost ratio) is amended as follows....

s.sch004 (1) Section 544 (meaning of “property financing costs” etc) is...

s.sch004 The amendments made by paragraphs 40 and 41 have effect...

s.sch004 (1) Section 556 (disposal of assets) is amended as follows....

s.sch004 The amendments made by paragraph 43 have effect in relation...

s.sch004 In section 558 (demergers: disposal of asset) in subsections (3)...

s.sch004 In section 559 (demergers: company leaving group UK REIT) in...

s.sch004 In section 561 (notice of breach of relevant Chapter 2...

s.sch004 (1) Section 562 (breach of conditions C and D in...

s.sch004 After section 562 insert— Breach of condition D in section...

s.sch005 Part 7 of TIOPA 2010 (tax treatment of financing costs...

s.sch005 (1) Section 314 (the financing income amounts of a company)...

s.sch005 In section 316 (group treasury companies), omit subsection (4).

s.sch005 (1) Section 329 (the tested expense amount) is amended as...

s.sch005 (1) Section 330 (the tested income amount) is amended as...

s.sch005 After section 331 insert— Elections disapplying sections 329(5) and 330(5)...

s.sch005 (1) Section 337 (meaning of “the worldwide group”) is amended...

s.sch005 (1) In section 339 (meaning of “ultimate parent”), subsection (1)...

s.sch005 In section 348 (non-existent financial statements of the worldwide group),...

s.sch005 After section 348 insert— Financial statements: business combinations to which...

s.sch005 In section 351 (expressions taking their meaning from international accounting...

s.sch005 In section 262 (UK net debt of worldwide group for...

s.sch005 In section 353 (other expressions), at the appropriate place insert—...

s.sch005 After section 353A insert— Power to make regulations where accounting...

s.sch005 (1) The amendment made by paragraph 21 has effect in...

s.sch005 In section 276 (disallowance of deductions: appointment of authorised company...

s.sch005 In section 280 (statement of allocated disallowances: requirements), after subsection...

s.sch005 In section 288 (exemption of financing income: appointment of authorised...

s.sch005 In section 292 (statement of allocated exemptions: requirements), after subsection...

s.sch005 In section 296 (failure of reporting body to submit statement...

s.sch005 In Chapter 6 (tax avoidance), before section 306 insert— Schemes...

s.sch005 (1) Section 313 (the financing expense amounts of a company)...

s.sch006 Seed enterprise investment scheme

s.sch006 In ITA 2007, after Part 5 (enterprise investment scheme) insert—...

s.sch006 In section 169 (directors qualifying for relief despite connection), in...

s.sch006 In section 172 (overview of Chapter 3), after paragraph (aa)...

s.sch006 In section 173A (enterprise investment scheme: maximum amount raised annually...

s.sch006 After that section insert— The spending of money raised by...

s.sch006 (1) Section 246 (identification of shares on a disposal) is...

s.sch006 In section 286 (qualifying holdings: introduction), in subsection (3), after...

s.sch006 In section 292A (venture capital trusts: maximum amount raised annually...

s.sch006 After that section insert— The spending of money raised by...

s.sch006 (1) Schedule 4 (index of defined expressions) is amended as...

s.sch006 TCGA 1992 is amended as follows.

s.sch006 (1) Section 150A (enterprise investment scheme) is amended as follows....

s.sch006 (1) Section 150B (enterprise investment scheme: reduction of relief) is...

s.sch006 In Schedule 5B (enterprise investment scheme: re-investment), in paragraph 2...

s.sch006 In section 98 of TMA 1970 (special returns, etc)—

s.sch006 (1) Subject to sub-paragraphs (2) and (3), the amendments made...

s.sch006 Before section 151 insert— Seed enterprise investment scheme (1) For the purpose of determining the gain or loss...

s.sch006 After section 150F (inserted by paragraph 3 of this Schedule)...

s.sch006 After Schedule 5B insert— SCHEDULE 5BB Seed enterprise investment scheme:...

s.sch006 ITA 2007 is amended as follows.

s.sch006 In section 2 (overview of Act), after subsection (5) insert—...

s.sch006 In section 26 (tax reductions), in subsection (1)(a), after the...

s.sch006 In section 27 (order of deducting tax reductions: individual), in...

s.sch007 Part 5 of ITA 2007 (enterprise investment scheme) is amended...

s.sch007 In section 179 (meaning of “qualifying business activity”), in subsection...

s.sch007 In section 186 (the gross assets requirement)—

s.sch007 (1) Section 192 (meaning of “excluded activities”) is amended as...

s.sch007 After section 198 insert— Excluded activities: subsidised generation or export...

s.sch007 In section 199 (excluded activities: provision of services or facilities...

s.sch007 In section 200 (power to amend by Treasury order), the...

s.sch007 In section 209 (disposal of shares), after subsection (5) insert—...

s.sch007 In section 239 (date from which interest is chargeable), in...

s.sch007 In section 243 (power to require information in other cases)—...

s.sch007 In section 157 (eligibility for EIS relief), omit subsections (2)...

s.sch007 In section 251 (approved investment fund as nominee), omit subsection...

s.sch007 In section 257 (minor definitions etc), in subsection (1), for...

s.sch007 (1) The amendments made by paragraphs 2 to 6, 7(1)...

s.sch007 (1) The amendments made by paragraphs 7(2), 11 and 12...

s.sch007 (1) Subject to sub-paragraph (2), the amendments made by paragraphs...

s.sch007 (1) The amendment made by paragraphs 18 and 21 are...

s.sch007 TCGA 1992 is amended as follows.

s.sch007 In section 150A (disposal of shares to which EIS relief...

s.sch007 Accordingly, in Schedule 1 to FA 2008, paragraph 48 is...

s.sch007 In paragraph 1 of Schedule 5B to the TCGA 1992...

s.sch007 (1) In section 158 (form and amount of EIS relief),...

s.sch007 After paragraph 11 insert— Disqualifying arrangements (1) Where an individual subscribes for eligible shares (“the shares”)...

s.sch007 In paragraph 16 (information)— (a) in sub-paragraph (6), for “or...

s.sch007 In paragraph 19 (interpretation), in sub-paragraph (1) for the definition...

s.sch007 (1) The amendment made by paragraph 29 comes into force...

s.sch007 (1) The amendments made by paragraphs 27, 28, 30 and...

s.sch007 The amendment made by paragraph 32 is treated as having...

s.sch007 In section 170 (person interested in capital etc of company)—...

s.sch007 In section 172 (overview of Chapter 3), omit the “and”...

s.sch007 (1) Section 173 (the shares requirement) is amended as follows....

s.sch007 (1) Section 173A (the maximum amount raised annually through risk...

s.sch007 In section 175 (the use of the money raised requirement),...

s.sch008 Part 6 of ITA 2007 (venture capital trusts) is amended...

s.sch008 (1) Section 303 (meaning of “excluded activities”) is amended as...

s.sch008 After section 309 insert— Excluded activities: subsidised generation or export...

s.sch008 In section 310 (excluded activities: provision of services or facilities...

s.sch008 In section 311 (power to amend Chapter by Treasury order),...

s.sch008 After section 312 insert— Power to require information relating to...

s.sch008 In section 313 (interpretation of Chapter 4), in subsection (5),...

s.sch008 In section 98 of TMA 1970 (special returns, etc), in...

s.sch008 (1) The amendments made by paragraphs 2 and 3 have...

s.sch008 (1) The amendments made by paragraphs 4, 5, 6(1) and...

s.sch008 (1) Section 274 (requirements for the giving of approval) is...

s.sch008 (1) The amendments made by paragraphs 6(2), 8 and 9...

s.sch008 (1) Paragraph 7 is to be treated as having come...

s.sch008 (1) Subject to sub-paragraph (2), the amendments made by paragraphs...

s.sch008 After section 280A insert— The investment limits condition (1) This section applies for the purposes of the investment...

s.sch008 In section 286 (qualifying holdings: introduction), in subsection (3), omit...

s.sch008 (1) Section 287 (maximum qualifying investment requirement) is amended as...

s.sch008 (1) Section 292A (the maximum amount raised annually through risk...

s.sch008 In section 293 (the use of the money raised requirement),...

s.sch008 In section 297 (the gross assets requirement)—

s.sch009 Capital allowances for plant and machinery: anti-avoidance

s.sch009 For section 215 of CAA 2001 substitute— Transactions to obtain...

s.sch009 In section 57(3) of CAA 2001 (available qualifying expenditure), after...

s.sch009 In section 214 of that Act (connected persons), after “218”...

s.sch009 In section 216 of that Act (sale and leaseback, etc),...

s.sch009 (1) Section 218 of that Act (restriction on B's qualifying...

s.sch009 After section 218 of that Act insert— Restrictions on writing-down...

s.sch009 (1) Section 230 of CAA 2001 (exception for manufacturers and...

s.sch009 After section 268D of CAA 2001 insert— Meaning of “assigns”...

s.sch009 (1) The amendments made by paragraphs 1 to 7 of...

s.sch010 Plant and machinery allowances: fixtures

s.sch010 CAA 2001 is amended as follows.

s.sch010 In section 199 (election to apportion capital sum given by...

s.sch010 The amendments made by paragraphs 2 to 5 have effect—...

s.sch010 The amendments made by paragraph 6 to 10 have effect—...

s.sch010 (1) Where (ignoring this sub-paragraph) plant or machinery would be...

s.sch010 After section 187 insert— Effect of changes in ownership of...

s.sch010 In section 198 (election to apportion sale price on sale...

s.sch010 (1) Section 201 (elections under sections 198 and 199: procedure)...

s.sch010 (1) In section 563 (procedure for determining certain questions affecting...

s.sch010 After section 186 insert— Fixtures on which a business premises...

s.sch010 In section 9 (interaction between fixtures claims and other claims),...

s.sch010 In section 57 (available qualifying expenditure), in subsection (3), after...

s.sch010 In section 198 (election to apportion sale price on sale...

s.sch011 CAA 2001 is amended as follows.

s.sch011 In section 39 (first-year allowances available for certain types of...

s.sch011 After section 45J insert— Expenditure on plant and machinery for...

s.sch011 In section 46 (general exclusions applying to first-year qualifying expenditure),...

s.sch011 (1) Section 52 (first-year allowances) is amended as follows.

s.sch011 In section 52A (prevention of double relief) for the words...

s.sch011 (1) In Chapter 16B (cap on first-year allowances: zero-emission goods...

s.sch011 The amendments made by this Schedule have effect for chargeable...

s.sch012 Chapter A1 of Part 14 of ITA 2007 (remittance basis)...

s.sch012 In section 809Y (property that ceases to be exempt property...

s.sch012 In section 809Z2 (personal use rule), in subsection (2), omit...

s.sch012 In section 809Z4 (temporary importation rule), in subsection (3)—

s.sch012 In section 809M (meaning of “relevant person”), in subsection (1),...

s.sch012 In section 809Z7 (interpretation of Chapter), omit subsection (7).

s.sch012 For the heading of that section substitute “ Meaning of...

s.sch012 After that section insert— Meaning of “the disposal proceeds” (1) In this Chapter, in relation to a sale or...

s.sch012 The amendments made by this Part of this Schedule have...

s.sch012 After section 809Y of ITA 2007 (property that ceases to...

s.sch012 The amendment made by this Part of this Schedule has...

s.sch012 (1) Section 809C (claim for remittance basis by long-term UK...

s.sch012 (1) Section 809I of ITA 2007 (remittance basis charge: income...

s.sch012 The amendments made by this Part of this Schedule have...

s.sch012 (1) Section 809H (claim for remittance basis by long-term UK...

s.sch012 For section 809V substitute— Money paid to the Commissioners (1) Subsection (2) applies to income or chargeable gains of...

s.sch012 The amendments made by this Part of this Schedule have...

s.sch012 For the italic heading preceding section 809V substitute “ Relief...

s.sch012 After section 809V insert— Business investment relief Money or other...

s.sch012 After the sections inserted by paragraph 7 insert the heading...

s.sch012 Immediately before section 809X insert the heading “Exempt property relief”....

s.sch013 In Chapter 4 of Part 4 of FA 2004 (registered...

s.sch013 (1) This paragraph applies if— (a) the section which would...

s.sch013 (1) For the purposes of paragraphs 13 and 14—

s.sch013 (1) This paragraph applies if amount A exceeds the sum...

s.sch013 If the sum of amounts B and C exceeds amount...

s.sch013 In Chapter 4 of Part 4 of FA 2004 (registered...

s.sch013 In section 280(1) of FA 2004 (abbreviations)—

s.sch013 (1) Subject to what follows, the amendments made by paragraphs...

s.sch013 (1) This Part of this Schedule applies if—

s.sch013 For the purposes of this Part of this Schedule—

s.sch013 In section 280(1) of FA 2004 (abbreviations)—

s.sch013 (1) This paragraph applies for the purposes of this Part...

s.sch013 (1) In this Part of this Schedule “the completion day”...

s.sch013 (1) The events falling within this paragraph are those listed...

s.sch013 (1) This paragraph applies if— (a) the section which would...

s.sch013 (1) This paragraph applies if, apart from this Part of...

s.sch013 (1) Section 196G of FA 2004 (as inserted by paragraph...

s.sch013 (1) For the purposes of paragraphs 30 and 31—

s.sch013 (1) The amendment made by paragraph 1 above has effect...

s.sch013 (1) This paragraph applies if amount A exceeds the sum...

s.sch013 If the sum of amounts B and C exceeds amount...

s.sch013 Chapter 5B of Part 13 of ITA 2007 (finance arrangements)...

s.sch013 In section 809BZA (type 1 finance arrangements: definition) after subsection...

s.sch013 (1) Section 809BZF (type 2 finance arrangements: definition) is amended...

s.sch013 In section 809BZH (type 2 finance arrangements: certain tax consequences...

s.sch013 In section 809BZJ (type 3 finance arrangements: definition) after subsection...

s.sch013 Chapter 2 of Part 16 of CTA 2010 (finance arrangements)...

s.sch013 In section 758 (type 1 finance arrangements: definition) after subsection...

s.sch013 (1) Section 763 (type 2 finance arrangements: definition) is amended...

s.sch013 (1) This Part of this Schedule applies if—

s.sch013 In section 765 (type 2 finance arrangements: certain tax consequences...

s.sch013 In section 767 (type 3 finance arrangements: definition) after subsection...

s.sch013 (1) Subject to what follows, the amendments made by paragraphs...

s.sch013 For the purposes of this Part of this Schedule—

s.sch013 (1) This paragraph applies for the purposes of this Part...

s.sch013 (1) In this Part of this Schedule “the completion day”...

s.sch013 (1) The events falling within this paragraph are those listed...

s.sch013 (1) This paragraph applies if— (a) the section which would...

s.sch014 (1) For the purposes of this Schedule, a person makes...

s.sch014 (1) Suspension under paragraph 9 of a potential donor's obligation...

s.sch014 (1) This paragraph applies if a potential donor's obligation to...

s.sch014 (1) This Part applies to a company's liability to corporation...

s.sch014 (1) If a company (“C”) makes a qualifying gift, a...

s.sch014 (1) The portion of C's tax liability for the relevant...

s.sch014 (1) This paragraph explains the effect of paragraph 13 as...

s.sch014 (1) If the amount of C's tax liability for the...

s.sch014 If a qualifying gift is set aside or declared void...

s.sch014 (1) Suspension under paragraph 18 of a potential donor's obligation...

s.sch014 (1) This Part applies to an individual's liability to income...

s.sch014 (1) This paragraph applies if a potential donor's obligation to...

s.sch014 (1) An order under Part 2 or 3 of this...

s.sch014 (1) In this Schedule, “pre-eminent property” means—

s.sch014 (1) For the purposes of paragraph 22, “the relevant Minister”...

s.sch014 In this Schedule— “the Commissioners” means the Commissioners for Her...

s.sch014 Nothing in this Schedule is to give rise to any...

s.sch014 IHTA 1984 is amended as follows.

s.sch014 In section 25 (gifts for national purposes etc), after subsection...

s.sch014 In section 26A (potentially exempt transfer of property subsequently held...

s.sch014 (1) Section 32 (conditionally exempt transfers: chargeable events) is amended...

s.sch014 (1) If an individual (“N”) makes a qualifying gift, a...

s.sch014 (1) Section 32A (associated properties) is amended as follows.

s.sch014 In section 33 (amount of charge under section 32), in...

s.sch014 In section 34 (reinstatement of transferor's cumulative total), in subsection...

s.sch014 (1) This paragraph applies where a person (“ the donor...

s.sch014 (1) This paragraph applies if a person makes a qualifying...

s.sch014 In section 258 of TCGA 1992 (works of art etc),...

s.sch014 In Chapter A1 of Part 14 of ITA 2007 (income...

s.sch014 (1) Parts 2 and 3 of this Schedule have effect...

s.sch014 (1) The portion of N's tax liability for a relevant...

s.sch014 (1) If the tax reduction figure allocated to a relevant...

s.sch014 (1) This paragraph explains the effect of paragraph 3(1) as...

s.sch014 (1) If the amount of N's tax liability for a...

s.sch014 If a qualifying gift is set aside or declared void...

s.sch015 (1) In Part 10 of ITA 2007 (special rules about...

s.sch015 (1) Section 967 of CTA 2010 (set-off of income tax...

s.sch015 (1) Section 42 of TMA 1970 (procedure for making claims...

s.sch015 In consequence of the amendments made by paragraph 11, in...

s.sch015 Schedule 18 to FA 1998 (company tax returns, assessments and...

s.sch015 (1) Paragraph 9 (claims that cannot be made without a...

s.sch015 (1) Paragraph 57 (claims or elections affecting a single accounting...

s.sch015 In consequence of the amendments made by paragraphs 14 and...

s.sch015 (1) The amendments made by paragraphs 1 to 4 and...

s.sch015 Part 11 of CTA 2010 (charitable companies etc) is amended...

s.sch015 (1) In Chapter 2 (gifts and other payments), section 477A...

s.sch015 In Chapter 3 (other exemptions), after section 491 insert— Claims...

s.sch015 Chapter 9 of Part 13 of CTA 2010 (special types...

s.sch015 After section 661C insert— Gifts qualifying for gift aid relief...

s.sch015 After section 665 insert— Claims Claims in relation to interest...

s.sch015 In consequence of the provision made by paragraph 6, in...

s.sch015 In section 59B of TMA 1970 (payment of income tax...

s.sch016 Part 2: minor and consequential amendments

s.sch016 ICTA is amended as follows.

s.sch016 In section 95ZA(3) (taxation of UK distributions received by insurance...

s.sch016 In section 257(2) (supplementary), for paragraphs (a) and (b) substitute—...

s.sch016 (1) Section 261 (special leasing: life assurance business) is amended...

s.sch016 In the heading for Chapter 1 of Part 12, for...

s.sch016 (1) Section 544 (management assets) is amended as follows.

s.sch016 (1) Section 545 (investment assets) is amended as follows.

s.sch016 (1) Section 560 (transfer of insurance company business) is amended...

s.sch016 (1) Schedule A1 (first-year tax credits) is amended as follows....

s.sch016 (1) Part 2 of Schedule 1 (index of defined expressions)...

s.sch016 FA 2003 is amended as follows.

s.sch016 Omit section 156 (overseas life insurance companies).

s.sch016 Omit section 431 (interpretative provisions relating to insurance companies).

s.sch016 ITEPA 2003 is amended as follows.

s.sch016 In section 357(3) (business entertainment and gifts: exception where employer's...

s.sch016 FA 2004 is amended as follows.

s.sch016 In section 196(4) (relief for employers in respect of contributions...

s.sch016 In section 196A(4)(c) (power to restrict relief), for “brought into...

s.sch016 In section 196L(2) (employer asset-backed contributions: supplementary), as inserted by...

s.sch016 In section 197(10)(b) (spreading of relief), for “section 76 of...

s.sch016 In section 199 (deemed contributions), for subsection (5) substitute—

s.sch016 In section 199A(10)(c) (indirect contributions), for “brought into account at...

s.sch016 In section 200 (no other relief for employers in connection...

s.sch016 Omit section 431ZA (election for assets not be foreign business...

s.sch016 (1) Section 246 (restriction of deduction for non-contributory provision) is...

s.sch016 In section 246A(4)(c) (case where no relief for provision by...

s.sch016 In section 280(1) (abbreviations)— (a) omit the “and” before the...

s.sch016 F(No.2)A 2005 is amended as follows.

s.sch016 In section 18(3)(b) (specific powers relating to authorised unit trusts...

s.sch016 ITTOIA 2005 is amended as follows.

s.sch016 In section 48(4A) (car hire)— (a) at the end of...

s.sch016 In section 473(2) (policies and contracts to which Chapter 9...

s.sch016 In section 476(3) (special rules: foreign policies), in the definition...

s.sch016 In section 504(7) (part surrenders: payments under guaranteed income bonds...

s.sch016 Omit section 431A (amendment of Chapter etc).

s.sch016 (1) Section 531 (gains from contracts for life insurance etc:...

s.sch016 In paragraph 118(2) of Schedule 2 (pre-1 January 2005 contracts...

s.sch016 ITA 2007 is amended as follows.

s.sch016 In section 564B(1) (meaning of “financial institution”)—

s.sch016 In section 681DP (relevant tax relief), for paragraph (c) substitute—...

s.sch016 CTA 2009 is amended as follows.

s.sch016 In section A1(2) (overview of the Corporation Tax Acts)—

s.sch016 (1) Section 18Q (UK resident insurance companies: profits of foreign...

s.sch016 For section 24 substitute— Application to insurance companies (1) This section makes provision in a case where the...

s.sch016 In section 36(3) (farming and market gardening), for “of the...

s.sch016 Omit section 431B (meaning of “pension business”).

s.sch016 In section 38(3)(d) (commercial occupation of land other than woodlands),...

s.sch016 In section 39(5)(a) (profits of mines, quarries and other concerns),...

s.sch016 In section 46(3)(a) (generally accepted accounting practice), omit sub-paragraph (ii)...

s.sch016 In section 56(5) (car hire)— (a) at the end of...

s.sch016 In section 130(1)(a) (insurers receiving distributions etc), for “life assurance...

s.sch016 In section 201 (priority rules: provisions which must be given...

s.sch016 In section 203(4) (property businesses)— (a) for “section 432AA of...

s.sch016 (1) Section 298 (meaning of trade and purposes of trade)...

s.sch016 (1) Section 336 (transfers of loans on group transactions) is...

s.sch016 (1) Section 337 (transfers of loans on insurance business transfers)...

s.sch016 Omit section 431BA (meaning of “child trust fund business”).

s.sch016 (1) Section 386 (overview of Chapter 10 of Part 5...

s.sch016 In section 387(1) (treatment of deficit on BLAGAB: introduction), after...

s.sch016 In section 388(3) (basic rule: deficit set off against income...

s.sch016 In section 389 (claim to carry back deficit), after subsection...

s.sch016 (1) Section 390 (meaning of “available profits”) is amended as...

s.sch016 In section 391 (carry forward of surplus deficit to next...

s.sch016 Omit sections 393 and 394 (insurance companies: determination of questions...

s.sch016 In section 399 (index-linked gilt-edged securities), at the end insert—...

s.sch016 In section 464(3) (list of exceptions to general rule that...

s.sch016 In section 471(3) (connections between persons: creditors who are insurance...

s.sch016 Omit section 431BB (meaning of “individual savings account business”).

s.sch016 In section 472(4)(b) (meaning of “control”), for “of an insurance...

s.sch016 In section 473(3)(b) (meaning of “major interest”), for “of an...

s.sch016 In section 486(4) (exclusion of exchange gains and losses in...

s.sch016 In section 502(1) (meaning of “financial institution”)—

s.sch016 In section 560(4) (investment life insurance contracts: introduction)—

s.sch016 In section 561(2) (meaning of “investment life insurance contract”), in...

s.sch016 In section 563(6)(a) (increased non-trading credits for BLAGAB and EEA...

s.sch016 (1) Section 591 (conditions A to E mentioned in section...

s.sch016 (1) Section 634 (insurance companies) is amended as follows.

s.sch016 (1) Section 635 (creditor relationships of insurance companies: embedded derivatives...

s.sch016 Omit section 431C (meaning of “life reinsurance business”).

s.sch016 (1) Section 636 (insurance companies: modifications of Chapter 5 (continuity...

s.sch016 In section 699(3) (list of exceptions to general rule that...

s.sch016 In section 710 (derivative contracts: other definitions)—

s.sch016 In section 746(2)(c) (“non-trading credits” and “non-trading debits”), for “section...

s.sch016 In section 800(3) (excluded assets: introduction), omit paragraph (b) (together...

s.sch016 In section 806(3) (assets excluded from Part 8 (intangible fixed...

s.sch016 In section 810 (mutual trade or business), omit subsection (2)....

s.sch016 In section 815 (election to exclude capital expenditure on software),...

s.sch016 In section 855(4) (further provision about regulations under section 854),...

s.sch016 For section 901 substitute— Effect of application of the I...

s.sch016 Omit sections 431D and 431E (meaning of “overseas life assurance...

s.sch016 Omit sections 902 (excluded assets) and 903 (elections to exclude...

s.sch016 Omit section 904 (transfers of life assurance business: transfers of...

s.sch016 In section 906(3) (list of exceptions to general rule that...

s.sch016 In section 931S(3) (company distributions: meaning of “small company”), in...

s.sch016 In section 931W (provisions which must be given priority over...

s.sch016 In section 985 (references to a deduction being allowed to...

s.sch016 In section 999 (deduction for costs of setting up SAYE...

s.sch016 (1) Section 1000 (deduction for costs of setting up employee...

s.sch016 In section 1013 (relief if shares acquired by employee or...

s.sch016 In section 1021 (relief if employee or other person obtains...

s.sch016 Omit section 431EA (meaning of “gross roll-up business”).

s.sch016 In section 1083 (refunds of expenditure treated as income chargeable...

s.sch016 In section 1143(4) (overview of Part 14)—

s.sch016 (1) Section 1153 (land remediation tax credit: amount of a...

s.sch016 (1) Section 1158 (restriction on losses carried forward where tax...

s.sch016 In the heading for Chapter 4 of Part 14, for...

s.sch016 Omit section 1159 (limitation on relief under Chapter 2 of...

s.sch016 In section 1160 (provision in respect of I minus E...

s.sch016 (1) Section 1161 (relief in respect of I minus E...

s.sch016 (1) Section 1162 (additional relief) is amended as follows.

s.sch016 Omit section 76 (expenses of insurance companies).

s.sch016 Omit section 431F (meaning of “basic life assurance and general...

s.sch016 In the italic heading before section 1164, for “Life assurance”...

s.sch016 (1) Section 1164 (entitlement to tax credit) is amended as...

s.sch016 (1) Section 1165 (meaning of “qualifying life assurance business loss”)...

s.sch016 In section 1166(1) (amount of tax credit)—

s.sch016 In section 1167(1) and (3)(a) (payment of tax credit etc),...

s.sch016 (1) Section 1168 (restriction on carrying forward expenses payable where...

s.sch016 In section 1169(2) (artificially inflated claims for relief or tax...

s.sch016 After section 1223 insert— Exception for basic life assurance and...

s.sch016 (1) Section 1251 (car hire) is amended as follows.

s.sch016 In section 1288(4) (unpaid remuneration)— (a) in paragraph (a), after...

s.sch016 Omit section 431G (company carrying on life assurance business).

s.sch016 (1) Section 1297 (life assurance business) is amended as follows....

s.sch016 In section 1298(2) (business entertainment and gifts), for paragraph (c)...

s.sch016 In section 1304 (crime-related payments), for subsection (3) substitute—

s.sch016 (1) Schedule 2 (transitionals and savings) is amended as follows....

s.sch016 In Schedule 4 (index of defined expressions)—

s.sch016 CTA 2010 is amended as follows.

s.sch016 In section 17(3) (interpretation of Chapter: meaning of “carried-forward amount”)—...

s.sch016 In section 54(2) (non-UK resident company: receipts of interest, dividends...

s.sch016 In Chapter 4 of Part 4 (property losses), after section...

s.sch016 In section 606(5) (groups), in the definition of “insurance company”,...

s.sch016 Omit section 431H (company carrying on life assurance business and...

s.sch016 (1) Section 783 (treatment of payer of manufactured dividend) is...

s.sch016 (1) Section 785 (treatment of payer: REITs) is amended as...

s.sch016 (1) Section 791 (treatment of payer of manufactured overseas dividend)...

s.sch016 In section 799(5) (manufactured payments under arrangements with unallowable purpose),...

s.sch016 In section 835(2) (transferor or associate becomes liable for payment...

s.sch016 In section 836(2) (transferor or associate becomes liable for payment...

s.sch016 (1) Section 839 (deduction under section 76 of ICTA not...

s.sch016 (1) Section 840 (carrying forward parts of payments) is amended...

s.sch016 In section 860 (relevant corporation tax relief), for paragraph (d)...

s.sch016 In section 886 (relevant tax relief), for paragraph (c) substitute—...

s.sch016 Omit section 432YA (PHI business — adjustment consequent of change...

s.sch016 In section 1171(2) (powers under orders and regulations excluded from...

s.sch016 In section 1173(2) (miscellaneous charges), in Part 3 of the...

s.sch016 TIOPA 2010 is amended as follows.

s.sch016 In section 43(7) (profits attributable to permanent establishments for purposes...

s.sch016 In section 72(2) (application of section 73(1)), omit paragraph (b)...

s.sch016 In section 96(1) (companies with overseas branches: restriction of credit)—...

s.sch016 For section 97 substitute— Companies with more than one category...

s.sch016 Omit section 98 (attribution for section 97 purposes if category...

s.sch016 In section 99(7) (allocation of expense etc in calculations under...

s.sch016 Omit section 102 (interpreting sections 99 to 101 for life...

s.sch016 Omit section 432ZA (linked assets).

s.sch016 (1) Section 103 (interpreting sections 99 to 101 for other...

s.sch016 In section 104(3) (interpreting sections 100 and 101: amounts referable...

s.sch016 In section 269(6) (insurance activities and insurance-related activities), in the...

s.sch016 In section 310(2) (meaning of “carried-forward amount”)—

s.sch016 In Part 1 of Schedule 11 (index of defined expressions...

s.sch016 FA 2011 is amended as follows.

s.sch016 In paragraph 73(2) of Schedule 19 (bank levy: meaning of...

s.sch016 In consequence of the amendments made by Parts 1 to...

s.sch016 Omit section 432A (apportionment of income and gains).

s.sch016 Omit section 432AA (property businesses).

s.sch016 Omit section 432AB (losses from property businesses).

s.sch016 Omit sections 432B to 432G (apportionment of receipts brought into...

s.sch016 Omit section 434 (franked investment income etc).

s.sch016 Omit section 76ZA (payments for restrictive undertakings).

s.sch016 Omit section 434A (computation of losses and limitation on relief)....

s.sch016 Omit sections 434AZA to 434AZC (reduced loss relief for additions...

s.sch016 Omit section 436A (gross roll-up business: separate charge on profits)....

s.sch016 Omit section 436B (gains referable to gross-roll up business not...

s.sch016 Omit sections 437 and 437A (general annuity business).

s.sch016 Omit section 438 (pension business: exemption from tax).

s.sch016 Omit section 440 (transfers of assets etc).

s.sch016 Omit section 440A (securities).

s.sch016 Omit section 440B (modifications where tax charged under s.35 of...

s.sch016 Omit section 440C (modifications for change of tax basis).

s.sch016 Omit section 76ZB (seconded employees).

s.sch016 Omit section 440D (modifications in relation to BLAGAB group reinsurers)....

s.sch016 Omit section 442 (overseas business of UK companies).

s.sch016 Omit section 442A (taxation of investment return where risk reinsured)....

s.sch016 Omit sections 444A to 444AED (transfers of business).

s.sch016 Omit sections 444AF to 444AL (surpluses of mutual and former...

s.sch016 In Schedule 15 (qualifying policies), in paragraph 24(3)(a), for “section...

s.sch016 Omit Schedule 19ABA (modifications in relation to BLAGAB group reinsurers)....

s.sch016 FA 1989 is amended as follows.

s.sch016 In section 67(2) (employee share ownership trusts), for paragraph (b)...

s.sch016 Omit section 82 (calculation of profits: bonuses etc).

s.sch016 Omit sections 76ZC to 76ZE (counselling and retraining expenses).

s.sch016 Omit section 82A (calculation of profits: policy holders' tax).

s.sch016 Omit section 82B (unappropriated surplus on valuation).

s.sch016 Omit sections 82D to 82F (treatment of profits: life assurance...

s.sch016 Omit section 83 (receipts to be taken into account).

s.sch016 Omit section 83XA (structural assets).

s.sch016 Omit sections 83YA and 83YB (changes in value of assets...

s.sch016 Omit sections 83YC to 83YF (FAFTS).

s.sch016 Omit section 83A (meaning of “brought into account”).

s.sch016 Omit section 83B (changes in recognised accounts: attribution of amounts...

s.sch016 Omit section 85 (charge of certain receipts of basic life...

s.sch016 Omit sections 76ZF to 76ZJ (redundancy payments etc).

s.sch016 Omit section 85A (excess adjusted life assurance trade profits).

s.sch016 Omit section 86 (spreading of relief for acquisition expenses).

s.sch016 Omit section 88 (corporation tax: policy holders' share of profits)....

s.sch016 Omit section 89 (policy holders' share of profits).

s.sch016 FA 1950 is amended as follows.

s.sch016 In section 39(3)(b)(ii) (treatment for taxation purposes of enemy debts...

s.sch016 TMA 1970 is amended as follows.

s.sch016 (1) Section 98 (special returns) is amended as follows.

s.sch016 IHTA 1984 is amended as follows.

s.sch016 In section 59(3)(b) (qualifying interest in possession), for “Chapter I...

s.sch016 Omit section 76ZK (contributions to local enterprise organisations or urban...

s.sch016 FA 1991 is amended as follows.

s.sch016 In paragraph 16(1) of Schedule 7 (transitional relief for old...

s.sch016 TCGA 1992 is amended as follows.

s.sch016 In section 10B (non-resident company with United Kingdom permanent establishment),...

s.sch016 In section 100(2B)(a) (exemption for authorised unit trusts etc), for...

s.sch016 In section 140C (transfer or division of non-UK business), omit...

s.sch016 In section 151I(1) (meaning of “financial institution”)—

s.sch016 (1) Section 171C (elections under s.171A: insurance companies) is amended...

s.sch016 In section 185 (deemed disposal of assets on company ceasing...

s.sch016 In section 204(10)(a) (policies of insurance and non-deferred annuities), for...

s.sch016 Omit sections 76ZL and 76ZM (unpaid remuneration).

s.sch016 (1) Section 210A (ring-fencing of losses) is amended as follows....

s.sch016 (1) Section 210B (disposal and acquisition of section 440A securities)...

s.sch016 In section 210C(2) (losses on disposal of authorised investment fund...

s.sch016 (1) Section 211 (transfers of business) is amended as follows....

s.sch016 In section 211ZA(10) (transfers of business: transfer of unused losses),...

s.sch016 (1) Section 212 (annual deemed disposal of holdings of unit...

s.sch016 (1) Section 213 (spreading of gains and losses under section...

s.sch016 After section 213 insert— Power to modify ss.212 and 213...

s.sch016 (1) Schedule 7AC (exemptions for disposals by companies with substantial...

s.sch016 In paragraph 1 of Schedule 7AD (gains of insurance company...

s.sch016 Omit section 76ZN (car hire).

s.sch016 FA 1993 is amended as follows.

s.sch016 In section 91 (deemed disposals of unit trusts by insurance...

s.sch016 FA 1999 is amended as follows.

s.sch016 In section 81(8) (acquisitions disregarded under insurance companies concession), in...

s.sch016 CAA 2001 is amended as follows.

s.sch016 In section 19(5) (special leasing of plant or machinery), for...

s.sch016 In the italic heading before section 254, for “Life assurance”...

s.sch016 In section 254(1) (introductory), for “life assurance business” substitute “...

s.sch016 For section 255 substitute— Apportionment of allowances and charges (1) This section applies if the long-term business of the...

s.sch016 (1) Section 256 (different giving effect rules for different categories...

s.sch017 (1) This Part of this Schedule makes provision, by reference...

s.sch017 (1) If a relevant computational item (or a part of...

s.sch017 (1) A receipt or expense within paragraph 9 or 10...

s.sch017 (1) For the purposes of this paragraph a “relevant court-protected...

s.sch017 (1) This paragraph applies if— (a) under an insurance business...

s.sch017 (1) This paragraph applies if— (a) an insurance company ceases...

s.sch017 (1) This paragraph applies if, as at 1 January 2013,...

s.sch017 (1) This paragraph applies if— (a) on or after 21...

s.sch017 (1) Paragraph 17 does not apply if, on an application...

s.sch017 In this Part of this Schedule— “the 2012 balance sheet”,...

s.sch017 Receipts or expenses are not to be treated as arising...

s.sch017 (1) This paragraph applies if— (a) in its first accounting...

s.sch017 (1) This paragraph applies if, for an accounting period ending...

s.sch017 For the purposes of section 76 an expense is to...

s.sch017 (1) This paragraph applies to assets— (a) which, under the...

s.sch017 (1) The rules in sections 116 to 118 apply in...

s.sch017 (1) The rules in sections 119 to 121 apply in...

s.sch017 (1) This paragraph applies if— (a) immediately before 1 January...

s.sch017 (1) This paragraph applies in a case where—

s.sch017 (1) Any unused losses arising to an insurance company in...

s.sch017 (1) This paragraph applies if an insurance company does not...

s.sch017 (1) Any unused losses arising to an insurance company in...

s.sch017 (1) The appropriate part of any unused life assurance trade...

s.sch017 (1) This paragraph applies if, but for this Part of...

s.sch017 (1) This paragraph applies if— (a) an insurance company carries...

s.sch017 (1) This paragraph applies in relation to assets of an...

s.sch017 (1) Sub-paragraph (2) applies to assets which by reason of...

s.sch017 (1) This paragraph applies where any provision of this Part...

s.sch017 (1) The Treasury may by regulations make further transitional, transitory...

s.sch017 Any regulations made by the Treasury under any provision of...

s.sch017 The following expressions have the same meaning in this Schedule...

s.sch017 (1) This paragraph applies if an insurance company does not...

s.sch017 (1) In the case of an insurance company, a comparison...

s.sch017 (1) Each of the items determined in accordance with paragraph...

s.sch017 (1) Each relevant computational item must be apportioned between—

s.sch017 (1) If a relevant computational item (or a part of...

s.sch018 ICTA is amended as follows.

s.sch018 Omit section 465 (old societies).

s.sch018 Omit section 465A (assets of branch of registered friendly society...

s.sch018 Omit section 466 (interpretation of Chapter 2 of Part 12)....

s.sch018 (1) Schedule 15 (qualifying policies) is amended as follows.

s.sch018 TCGA 1992 is amended as follows.

s.sch018 In section 100(2B)(b) (exemption for authorised unit trusts etc), for...

s.sch018 In section 171(5) (transfers within a group: general provisions), for...

s.sch018 ITTOIA 2005 is amended as follows.

s.sch018 (1) Section 531 (gains from contracts for life insurance etc:...

s.sch018 CTA 2009 is amended as follows.

s.sch018 Omit section 459 (unregistered friendly societies: exemption from tax).

s.sch018 In section A1(2) (overview of the Corporation Tax Acts), after...

s.sch018 In section 564(1) (section 563: interpretation), for “section 460 of...

s.sch018 In section 931S(3) (company distributions: meaning of “small company”), in...

s.sch018 In consequence of the amendments made by this Schedule, omit...

s.sch018 Omit section 460 (exemption from tax in respect of life...

s.sch018 Omit section 461 (taxation in respect of other business).

s.sch018 Omit sections 461A to 461C (taxation in respect of other...

s.sch018 Omit section 461D (transfers of business).

s.sch018 Omit section 462 (conditions for tax exempt business).

s.sch018 Omit section 463 (long-term business of friendly societies: application of...

s.sch018 Omit section 464 (maximum benefits payable to members).

s.sch019 Part 3: transitional provision

s.sch019 Anything which, as a result of section 461(11) or 461A(4)...

s.sch019 (1) This paragraph applies where any provision of this Part...

s.sch020 After Part 9 of TIOPA 2010 insert— PART 9A Controlled...

s.sch020 TMA 1970 is amended as follows.

s.sch020 In section 55 (recovery of tax not postponed) in subsection...

s.sch020 In section 59E (provision about when corporation tax due and...

s.sch020 In section 59F (arrangements for paying tax on behalf of...

s.sch020 In ICTA omit Chapter 4 of Part 17 (controlled foreign...

s.sch020 FA 1998 is amended as follows.

s.sch020 In section 32 (unrelieved surplus advance corporation tax) for subsection...

s.sch020 (1) Schedule 18 (company tax returns) is amended as follows....

s.sch020 Schedule 22 to FA 2000 (tonnage tax) is amended as...

s.sch020 (1) Paragraph 54 is amended as follows.

s.sch020 Chapter 3A of Part 2 of CTA 2009 (foreign permanent...

s.sch020 (1) Paragraph 57 is amended as follows.

s.sch020 In FA 2002 omit section 90 (controlled foreign companies and...

s.sch020 (1) Section 725 of ITA 2007 (transfer of assets abroad:...

s.sch020 (1) Paragraph 3 of Schedule 11 to FA 2007 (technical...

s.sch020 CTA 2009 is amended as follows.

s.sch020 In section A1 (overview of the Corporation Tax Acts) in...

s.sch020 In section 486D (disguised interest: arrangement with no tax avoidance...

s.sch020 (1) Section 486E (disguised interest: excluded shares) is amended as...

s.sch020 In section 521E (unallowable purpose) omit subsections (5) and (6)....

s.sch020 Omit section 870 (intangible fixed assets: assumptions to be made...

s.sch020 In section 18A(1) omit “UK resident”.

s.sch020 In Chapter 2 of Part 9A (exemption of distributions received...

s.sch020 In section 931E (distributions from controlled companies) for subsections (3)...

s.sch020 Part 2 of Schedule 16 to FA 2009 (amendment of...

s.sch020 In paragraph 12— (a) in sub-paragraph (2) omit paragraph (b)...

s.sch020 Omit paragraph 15.

s.sch020 In paragraph 16— (a) in paragraph (a) after “2009” insert...

s.sch020 In the cross-heading before paragraph 17 for “during three years...

s.sch020 CTA 2010 is amended as follows.

s.sch020 In section 398D (restriction on use of losses) for subsection...

s.sch020 (1) Section 938M (group mismatch schemes: controlled foreign companies) is...

s.sch020 After section 18C insert— Income arising from immovable property The references in section 18A(6) to profits which would be...

s.sch020 In section 1139 (definition of “tax advantage”) in subsection (2)...

s.sch020 TIOPA 2010 is amended as follows.

s.sch020 (1) Section 179 (compensating payment if advantaged person is controlled...

s.sch020 In Chapter 4 of Part 7 (exemption for financing income)...

s.sch020 (1) Section 314 (financing income amounts) is amended as follows....

s.sch020 After section 314 insert— The financing income amounts of a...

s.sch020 The Insurance Companies (Reserve) (Tax) Regulations 1996 (S.I. 1996/2991) are...

s.sch020 (1) Regulation 8A is amended as follows.

s.sch020 In regulation 8B for “controlled foreign company” substitute “ CFC...

s.sch020 (1) The CFC charge is charged in relation to accounting...

s.sch020 (1) Section 18F is amended as follows.

s.sch020 (1) The repeal of Chapter 4 of Part 17 of...

s.sch020 The amendment made by paragraph 27(3) above has no effect...

s.sch020 The amendment made by paragraph 30 above has no effect...

s.sch020 The amendment made by paragraph 31 above has no effect...

s.sch020 The amendments made by paragraphs 33 to 36 above are...

s.sch020 (1) The amendments made by paragraphs 3, 5 and 9...

s.sch020 (1) This paragraph applies in relation to a CFC the...

s.sch020 (1) This paragraph applies if— (a) during a company's accounting...

s.sch020 (1) This paragraph applies if— (a) there is an exempt...

s.sch020 (1) The Controlled Foreign Companies (Designer Rate Tax Provisions) Regulations...

s.sch020 For sections 18G to 18I substitute— Anti-diversion rule (1) This section applies for the purposes of this Chapter...

s.sch020 After section 18P(2) insert— (3) Subsection (2) does not apply...

s.sch020 In Chapter 5 of Part 4 of FA 1994 (Lloyd's...

s.sch020 In section 15 of CAA 2001 (plant and machinery allowances:...

s.sch021 Relief in respect of decommissioning expenditure

s.sch021 Part 8 of CTA 2010 (oil activities) is amended as...

s.sch021 In section 330 (supplementary charge in respect of ring fence...

s.sch021 After section 330 insert— Decommissioning expenditure taken into account in...

s.sch021 In section 7 of FA 2011 (increase in rate of...

s.sch021 (1) In Chapter 2 of Part 4 of CTA 2010...

s.sch021 (1) The amendments made by this Schedule have effect in...

s.sch022 In Part 8 of CTA 2010 (oil activities), Chapter 7...

s.sch022 (1) Section 344 (activation of field allowance) is amended as...

s.sch022 (1) Section 345 (introduction to sections 346 and 347) is...

s.sch022 (1) Section 346 (reduction of field allowance if equity disposed...

s.sch022 (1) Section 347 (acquisition of field allowance if equity acquired)...

s.sch022 (1) Section 349 (orders) is amended as follows.

s.sch022 Before section 350 insert— Additionally-developed oil field” (1) In this Chapter an oil field is an “additionally-developed...

s.sch022 (1) Section 357 (other definitions) is amended as follows.

s.sch022 The heading of the Chapter becomes “ REDUCTION OF SUPPLEMENTARY...

s.sch022 (1) Part 8 of CTA 2010 (oil activities) is amended...

s.sch022 (1) Schedule 4 to CTA 2010 (index of defined expressions)...

s.sch022 In section 334 (company's pool of field allowances), for “new...

s.sch022 In section 63 of FA 2011 (reduction of supplementary charge...

s.sch022 (1) The amendments made by paragraphs 14, 15 and 16(3)...

s.sch022 (1) The Commissioners for Her Majesty's Revenue and Customs may...

s.sch022 (1) Section 337 (initial licensee to hold a field allowance)...

s.sch022 In section 338 (holding a field allowance on acquisition of...

s.sch022 In section 339 (unactivated amount of field allowance), in subsections...

s.sch022 (1) Section 340 (introduction to section 341) is amended as...

s.sch022 (1) Section 341 (activation of field allowance) is amended as...

s.sch022 In section 342 (introduction to sections 343 and 344), in...

s.sch022 In section 343 (reference periods), in subsection (3), for “the...

s.sch023 In section 30 of FA 1994 (air passenger duty: rates...

s.sch023 (1) Section 33 (registration of aircraft operators) is amended as...

s.sch023 After section 33 insert— Registration of Northern Ireland long haul...

s.sch023 In section 34 (fiscal representatives) in subsection (5)—

s.sch023 After section 41 insert— Northern Ireland long haul rates of...

s.sch023 In section 44 of CRCA 2005 (payment into Consolidated Fund)...

s.sch023 In column 2 of the Table in paragraph 1 of...

s.sch023 Chapter 4 of Part 1 of FA 1994 (air passenger...

s.sch023 In section 28 (introduction to air passenger duty) for subsection...

s.sch023 (1) Section 29 (chargeable aircraft) is amended as follows.

s.sch023 After section 29 insert— Chargeable aircraft: exceptions (1) This section applies for the purposes of this Chapter....

s.sch023 In article 3 of the Air Passenger Duty (Connected Flights)...

s.sch023 In section 30A (as inserted by paragraph 9 above) after...

s.sch023 (1) Section 43 (interpretation) is amended as follows.

s.sch023 The amendments made by this Part of this Schedule have...

s.sch023 (1) Section 30 of FA 1994 (air passenger duty: rates...

s.sch023 In article 3 of the Air Passenger Duty (Connected Flights)...

s.sch023 The amendments made by this Part of this Schedule have...

s.sch023 Chapter 4 of Part 1 of FA 1994 (air passenger...

s.sch023 (1) Section 30 (rates of duty) is amended as follows....

s.sch023 After section 30 insert— Northern Ireland long haul rates of...

s.sch024 A duty of excise, to be known as machine games...

s.sch024 (1) If the calculation of the amount of machine games...

s.sch024 (1) This paragraph sets out who is “responsible” for premises...

s.sch024 (1) A machine is an “excluded dual-use machine” if—

s.sch024 (1) An accounting period for machine games duty is a...

s.sch024 (1) This paragraph applies in valuing prizes for the purposes...

s.sch024 (1) This paragraph applies in determining for the purposes of...

s.sch024 The Commissioners are responsible for the collection and management of...

s.sch024 (1) The Commissioners may make regulations requiring registrable persons to...

s.sch024 (1) The Commissioners may make regulations about payment of machine...

s.sch024 (1) A “machine game” is a game (whether of skill...

s.sch024 (1) The Commissioners must maintain a register of those responsible...

s.sch024 (1) If a person holds a relevant licence or permit...

s.sch024 (1) A “relevant licence or permit” is—

s.sch024 (1) Sub-paragraph (2) applies if— (a) it appears to HMRC...

s.sch024 (1) The Commissioners may make regulations about registration.

s.sch024 (1) Sub-paragraph (2) applies if— (a) it appears to HMRC...

s.sch024 (1) The decisions mentioned in sub-paragraph (2) are to be...

s.sch024 (1) This paragraph applies if an order is made under...

s.sch024 In Schedule 24 to FA 2007 (penalties for errors), in...

s.sch024 (1) A game that would otherwise be a dutiable machine...

s.sch024 In Schedule 41 to FA 2008 (penalties: failure to notify...

s.sch024 In that Schedule, in each of the following provisions, for...

s.sch024 In Schedule 56 to FA 2009 (penalty for failure to...

s.sch024 In that Schedule, in each of the following provisions, for...

s.sch024 (1) Contravention of a provision mentioned in sub-paragraph (2) attracts...

s.sch024 (1) A machine is liable to forfeiture if—

s.sch024 Section 31 of BGDA 1981 applies in relation to machine...

s.sch024 (1) This paragraph applies to orders and regulations under this...

s.sch024 The Treasury may by order specify criteria to be taken...

s.sch024 (1) The Commissioners may by notice direct that regulations under...

s.sch024 (1) Section 1(1) of CEMA 1979 (interpretation) is amended as...

s.sch024 (1) For section 118BC of that Act (inspection powers: gaming...

s.sch024 In section 2 of BGDA 1981 (bookmakers: general bets), in...

s.sch024 (1) Section 26H of BGDA 1981 (exemptions from remote gaming...

s.sch024 In Schedule A1 to BGDA 1981 (betting duties: double taxation...

s.sch024 In Schedule 4B to BGDA 1981 (remote gaming duty: double...

s.sch024 In section 12 of FA 1994 (assessment to excise duty),...

s.sch024 In section 10 of FA 1997 (gaming duty), for subsection...

s.sch024 In section 7 of the Borders, Citizenship and Immigration Act...

s.sch024 (1) Machines are divided into three types for the purposes...

s.sch024 In this Part of this Schedule— “ appeal tribunal ”...

s.sch024 (1) This Part of this Schedule is to be read...

s.sch024 The following provisions of BGDA 1981 are omitted—

s.sch024 (1) Part 3 of that Act (general) is amended as...

s.sch024 In section 102 of CEMA 1979, in subsection (3)(a), omit...

s.sch024 In section 10 of FA 1997 (gaming duty), omit subsection...

s.sch024 In Schedule 41 to FA 2008 (penalties: failure to notify...

s.sch024 In section 7 of the Borders, Citizenship and Immigration Act...

s.sch024 (1) If a licence granted under section 21 of BGDA...

s.sch024 (1) If a licence granted or to be granted under...

s.sch024 (1) This paragraph applies to licences to be granted under...

s.sch024 (1) The enactments repealed by this Part of this Schedule...

s.sch024 For section 23 of VATA 1994 substitute— Value of supplies...

s.sch024 (1) In Part 2 of Schedule 9 to that Act...

s.sch024 (1) Paragraph 9 of Schedule 11 to that Act (administration,...

s.sch024 (1) The provisions of this Schedule have effect as follows....

s.sch024 (1) The Treasury may by regulations make transitional or saving...

s.sch024 (1) A taxable person's net takings in an accounting period...

s.sch024 (1) In calculating the takings and the payouts under paragraph...

s.sch024 (1) The lower rate is 5%. (2) The standard rate...

s.sch025 BGDA 1981 is amended as follows.

s.sch025 In section 13A(2) of FA 1994 (meaning of “relevant decision”),...

s.sch025 (1) The Table in paragraph 1 of Schedule 41 to...

s.sch025 The amendments made by this Schedule have effect in relation...

s.sch025 After section 8 insert— Double taxation relief (1) This section applies if a person (“P”) is liable...

s.sch025 After section 26I insert— Double taxation relief (1) This section applies if— (a) P is liable to...

s.sch025 In section 33 (interpretation)— (a) in subsection (1), after the...

s.sch025 (1) Schedule 1 (betting duties) is amended as follows.

s.sch026 Part 2 of Schedule 8 of VATA 1994 (zero-rating) is...

s.sch026 (1) Group 1 (food) is amended as follows.

s.sch026 (1) Group 6 (protected buildings) is amended as follows.

s.sch026 (1) Group 9 (caravans and houseboats) is amended as follows....

s.sch026 (1) In Part 2 of Schedule 9 to VATA 1994...

s.sch026 (1) Schedule 7A to VATA 1994 (charge at reduced rate)...

s.sch026 (1) Subject to sub-paragraphs (2) and (3), the amendments made...

s.sch027 Anti-forestalling charge to VAT

s.sch027 In this Schedule— “date of the VAT change” means 1...

s.sch027 Regulations under paragraph 2A of Schedule 11 to VATA 1994...

s.sch027 (1) Expressions used in this Schedule and in VATA 1994...

s.sch027 (1) There is an anti-forestalling charge to value added tax...

s.sch027 (1) The descriptions of supplies are— (a) the supply, in...

s.sch027 (1) A supply of services within paragraph 3(1)(a) or (c)...

s.sch027 (1) The Treasury may by order modify this Schedule for...

s.sch027 (1) An anti-forestalling charge under this Schedule on a chargeable...

s.sch027 (1) The amount of the anti-forestalling charge on a chargeable...

s.sch027 (1) This paragraph applies if, on the date on which...

s.sch027 (1) This paragraph applies where— (a) a contract for the...

s.sch028 In section 77 (assessments: time limits and supplementary assessments), in...

s.sch028 (1) Paragraph 1 of Schedule 1 (registration in respect of...

s.sch028 In paragraph 3 of that Schedule, at the end of...

s.sch028 Accordingly, in the heading of that Schedule, at the end...

s.sch028 In paragraph 1 of Schedule 2 (registration in respect of...

s.sch028 In paragraph 1 of Schedule 3 (registration in respect of...

s.sch028 In paragraph 1 of Schedule 3A (registration in respect of...

s.sch028 In paragraph 18 of Schedule 3B (supply of electronic services...

s.sch028 In Schedule 41 to FA 2008 (penalties: failure to notify...

s.sch028 The amendments made by this Schedule have effect in relation...

s.sch028 VATA 1994 is amended as follows.

s.sch028 In section 7 (place of supply of goods), in subsection...

s.sch028 In section 54 (farmers etc), in subsection (2), after “Schedule...

s.sch028 In section 55 (customers to account for tax on supplies...

s.sch028 In section 55A (customers to account for tax on supplies...

s.sch028 In section 69 (breaches of regulatory provisions), in subsection (1)(a),...

s.sch028 In section 73 (failure to make returns etc), in subsection...

s.sch028 In section 74 (interest on VAT recovered or recoverable by...

s.sch029 VATA 1994 is amended as follows.

s.sch029 In Schedule 3 (registration in respect of acquisitions from other...

s.sch029 In Schedule 3A (registration in respect of disposals of assets...

s.sch029 (1) Paragraph 2 of Schedule 11 (accounting for VAT and...

s.sch029 In consequence of the amendments made by this Schedule—

s.sch029 (1) Section 18B (fiscally warehoused goods: relief) is amended as...

s.sch029 (1) Section 18C (warehouses and fiscal warehouses: services) is amended...

s.sch029 In section 35(2) (refund of VAT to persons constructing certain...

s.sch029 (1) Section 39(3) (repayment of VAT to those in business...

s.sch029 (1) Section 48 (VAT representatives) is amended as follows.

s.sch029 In section 54(6)(a) (farmers etc)— (a) omit “the form and...

s.sch029 In Schedule 1 (registration in respect of taxable supplies), in...

s.sch029 In Schedule 2 (registration in respect of supplies from other...

s.sch030 (1) In paragraph 45A(2)(b) of Schedule 6 to FA 2000...

s.sch030 In paragraph 42 (amount payable by way of levy)—

s.sch030 Before the cross-heading before paragraph 44 insert— Supplies for use...

s.sch030 Omit paragraph 45A (reduced-rate supplies: deemed supply).

s.sch030 After paragraph 62(1)(c) (tax credits) insert— (ca) after a taxable...

s.sch030 In paragraph 101(2)(a) (penalty for incorrect notification)—

s.sch030 In paragraph 146(3) (regulations subject to affirmative resolution procedure) omit...

s.sch030 In paragraph 147 (interpretation)— (a) in the definition of “prescribed”,...

s.sch030 Omit section 188 of FA 2003 (climate change levy: exemption...

s.sch030 (1) FA 2011 is amended as follows.

s.sch030 The amendments made by paragraphs 2 to 18 have effect...

s.sch030 Schedule 6 to FA 2000 (climate change levy) is amended...

s.sch030 In paragraph 42(1) of Schedule 6 to FA 2000 (amount...

s.sch030 In paragraph 43B(1) of Schedule 6 to FA 2000 (supplies...

s.sch030 In section 79 of FA 2011 (which provides for a...

s.sch030 The amendments made by paragraphs 20 to 22 have effect...

s.sch030 In paragraph 4(2)(b) (definition of taxable supply) for “45A” substitute...

s.sch030 In paragraph 5(3) (taxable supplies: deemed supplies of electricity) for...

s.sch030 In paragraph 6(2A) (taxable supplies: deemed supplies of gas) for...

s.sch030 In paragraph 14(3A)(a) (use of electricity in an “exemption-retaining” way)...

s.sch030 Omit paragraph 18A (exemption: supply for use in recycling processes)....

s.sch030 In paragraph 34 (time of supply of commodities other than...

s.sch030 In paragraph 39(1)(c) (regulations as to time of supply) for...

s.sch031 Schedule 6 to FA 2000 (climate change levy) is amended...

s.sch031 In paragraph 137(1) (disclosure of information) after paragraph (f) insert—...

s.sch031 The amendments made by this Schedule have no effect in...

s.sch031 In paragraph 44(1)(a), (2A) and (2C) (definition of “reduced-rate” supply)...

s.sch031 In paragraph 45(1) (variation of certificates under paragraph 44) for...

s.sch031 In paragraph 45B(2) and (6) (removal of reduced rate) for...

s.sch031 In the cross-heading before paragraph 47 omit “with Secretary of...

s.sch031 In paragraph 47(1) (definition of “climate change agreement”: direct agreements)—...

s.sch031 (1) Paragraph 48 (definition of “climate change agreement”: combination of...

s.sch031 (1) Paragraph 49 (supplemental provision relating to climate change agreements)...

s.sch031 After paragraph 52 insert— The Administrator etc (1) In this Part of this Schedule references to “the...

s.sch032 Climate change levy: supplies subject to the carbon price support rates and combined heat and power stations

s.sch032 (1) In paragraph 42A(5) of Schedule 6 to FA 2000...

s.sch032 (1) Paragraph 20A of Schedule 6 to FA 2000 (climate...

s.sch032 (1) The following repeals are made in consequence of paragraph...

s.sch033 Inheritance tax: gifts to charities etc

s.sch033 After Schedule 1 to IHTA 1984 insert— SCHEDULE 1A Gifts...

s.sch033 (1) The Schedule inserted by paragraph 1 has effect in...

s.sch033 IHTA 1984 is amended as follows in consequence of paragraph...

s.sch033 In section 7 (rates), in subsection (1), after “(4) and...

s.sch033 In section 33 (amount of charge under section 32), after...

s.sch033 In section 78 (conditionally exempt occasion), in subsection (3), for...

s.sch033 In section 128 (rate of charge: woodlands)—

s.sch033 After section 141 insert— Apportionment of relief under section 141...

s.sch033 In Schedule 4 (maintenance funds for historic buildings etc), in...

s.sch033 In section 142 of IHTA 1984 (alteration of dispositions taking...

s.sch034 Bank levy

s.sch034 Schedule 19 to FA 2011 (bank levy) is amended as...

s.sch034 The amendments made by paragraphs 8 and 9 have effect...

s.sch034 (1) In paragraph 66 (double taxation arrangements), after sub-paragraph (9)...

s.sch034 (1) This paragraph applies where— (a) an amount of the...

s.sch034 In paragraph 6 (steps for determining the amount of the...

s.sch034 In paragraph 7 (special provision for chargeable periods falling wholly...

s.sch034 The amendments made by paragraphs 2 and 3 are treated...

s.sch034 In paragraph 6 (steps for determining the amount of the...

s.sch034 (1) In paragraph 7 (special provision for chargeable periods falling...

s.sch034 The amendments made by paragraph 6 come into force on...

s.sch034 (1) Paragraph 43 (calculation of chargeable equity and liabilities where...

s.sch034 In paragraph 44 (chargeable equity and liabilities of joint venture:...

s.sch035 Part 4 of FA 2003 (stamp duty land tax) is...

s.sch035 (1) Except as mentioned in sub-paragraph (2), the amendments made...

s.sch035 (1) Section 55 (amount of tax chargeable: general) is amended...

s.sch035 After section 55 insert— Amount of tax chargeable: higher rate...

s.sch035 (1) Section 74 (exercise of collective rights by tenants of...

s.sch035 (1) Section 109 (general power to vary Part 4 of...

s.sch035 (1) Schedule 5 (amount of tax chargeable: rent) is amended...

s.sch035 In paragraph 2(4) of Schedule 6B (transfers involving multiple dwellings)—...

s.sch035 (1) Schedule 15 (partnerships) is amended as follows.

s.sch036 Agreement between UK and Switzerland

s.sch036 In this Schedule— (a) “the Agreement” means the agreement signed...

s.sch036 Nothing in this Part entitles any person to a repayment...

s.sch036 (1) This paragraph explains how paragraph 4(2) is to be...

s.sch036 If a one-off payment is refunded by HMRC in accordance...

s.sch036 The taxes affected by this Part are—

s.sch036 (1) This Part applies if— (a) a sum is levied...

s.sch036 (1) The effect of the relevant certificate depends on whether...

s.sch036 (1) P may make an election under this paragraph in...

s.sch036 Other than a credit allowed under Part 3 of TIOPA...

s.sch036 (1) Sub-paragraph (2) applies if the amount of a credit...

s.sch036 The Joint Declaration does not count for the purposes of...

s.sch036 (1) The taxes affected by this Part are—

s.sch036 This Part affects inheritance tax.

s.sch036 (1) This Part applies if— (a) an amount is withheld...

s.sch036 (1) The cleared assets are to be treated as if...

s.sch036 (1) This paragraph applies if the cleared assets for each...

s.sch036 Nothing in this Part entitles any person to a repayment...

s.sch036 No obligation of secrecy (whether imposed by statute or otherwise)...

s.sch036 (1) Part 2 of this Schedule applies to amounts otherwise...

s.sch036 (1) Income or chargeable gains of a person are to...

s.sch036 (1) This paragraph applies if— (a) but for paragraph 26A(1),...

s.sch036 (1) In this Schedule— “ancillary charge” means any interest, penalty,...

s.sch036 (1) This Part applies if— (a) a one-off payment is...

s.sch036 (1) The Part 2 certificate applies to taxable amounts in...

s.sch036 (1) The effect of the Part 2 certificate depends on...

s.sch036 (1) This paragraph sets out the effect of the Part...

s.sch036 (1) The result of “ceasing to be liable” to tax...

s.sch036 (1) This paragraph sets out the effect of the Part...

s.sch036 (1) Where, by virtue of this Part, P ceases to...

s.sch037 (1) Section 74A of FA 1960 (visiting forces and allied...

s.sch037 In section 6 of IHTA 1984 (excluded property), in subsection...

s.sch037 (1) Section 155 of that Act (visiting forces and allied...

s.sch037 (1) Section 303 of ITEPA 2003 (visiting forces and staff...

s.sch037 (1) Section 833 of ITA 2007 (visiting forces and staff...

s.sch038 This Schedule is arranged as follows— (a) this Part explains...

s.sch038 (1) A file access notice may , subject to sub-paragraph...

s.sch038 A file access notice may require documents to be provided—...

s.sch038 Unless otherwise specified in the notice, a file access notice...

s.sch038 (1) The tribunal may not approve the giving of a...

s.sch038 A file access notice only requires the document-holder to provide...

s.sch038 (1) A file access notice does not require the document-holder...

s.sch038 If a document is provided pursuant to a file access...

s.sch038 (1) In this Schedule “ tax adviser ” means—

s.sch038 (1) A person who fails to comply with a file...

s.sch038 If the failure continues after notification of a penalty under...

s.sch038 A failure to do anything required to be done within...

s.sch038 (1) Liability to a penalty under paragraph 22 or 23...

s.sch038 (1) If a person, in purported compliance with a file...

s.sch038 (1) This paragraph applies if HMRC determine that a person...

s.sch038 (1) A person who engages in sanctionable conduct is liable...

s.sch038 (1) For the purposes of paragraph 26, a person “discloses”...

s.sch038 (1) Sub-paragraph (2) applies where— (a) a person is liable...

s.sch038 (1) Potential lost revenue is attributable to a tax adviser’s...

s.sch038 (1) This paragraph applies if HMRC propose to assess a...

s.sch038 (1) The Commissioners must publish information about a person if...

s.sch038 (1) For the purposes of this Schedule, a person “engages...

s.sch038 (1) HMRC may not assess a penalty under this Schedule...

s.sch038 (1) A person may appeal against a decision of HMRC—...

s.sch038 (1) A penalty under this Schedule must be paid—

s.sch038 A person is not liable to a penalty under this...

s.sch038 (1) A person is not liable to a penalty under...

s.sch038 (1) The Treasury may by regulations amend any of paragraphs...

s.sch038 Subject to the provisions of this Schedule, the following provisions...

s.sch038 (1) “Tax” means— (a) income tax, (b) capital gains tax,...

s.sch038 In this Schedule— “appointed” includes engaged; “client” (except in paragraph...

s.sch038 (1) A reference in this Schedule to clients of a...

s.sch038 (1) This paragraph applies if HMRC determine that an individual...

s.sch038 A loss of tax revenue is taken for the purposes...

s.sch038 A reference in this Schedule to working for an organisation...

s.sch038 A reference in a provision of this Schedule to an...

s.sch038 Nothing in this Schedule limits— (a) any liability a person...

s.sch038 TMA 1970 is amended as follows.

s.sch038 Omit— (a) section 20A (power to call for papers of...

s.sch038 (1) Section 20BB (falsification etc of documents) is amended as...

s.sch038 In section 20D (interpretation of sections 20 to 20CC)—

s.sch038 In section 103 (time limits for penalties)—

s.sch038 In section 103ZA (disapplication of sections 100 to 103)—

s.sch038 (1) An individual to whom a conduct notice is given...

s.sch038 In section 118 (interpretation), in the definition of “tax”, omit...

s.sch038 In Schedule 2 to OTA 1975 (management and collection of...

s.sch038 In section 247 of IHTA 1984 (provision of incorrect information),...

s.sch038 In section 16 of the Social Security Contributions and Benefits...

s.sch038 In paragraph 7B of Schedule 1 to that Act (collection...

s.sch038 In paragraph 7B of Schedule 1 to the Social Security...

s.sch038 In section 110ZA of the Social Security Administration Act 1992...

s.sch038 In section 104ZA of the Social Security Administration (Northern Ireland)...

s.sch038 (1) A person (“P”) commits an offence if, after a...

s.sch038 (1) The power in paragraph 8 is exercisable only in...

s.sch038 (1) Subject to paragraph 7, an officer of Revenue and...

s.sch038 (1) “Relevant documents” means the tax adviser’s working papers (whenever...

s.sch039 Repeal of miscellaneous reliefs etc

s.sch039 (1) Section 52 of FA 1946 (exemption from stamp duty...

s.sch039 (1) The amendments made by paragraphs 1 to 5, 6(1),...

s.sch039 The amendments made by paragraph 7 do not have effect...

s.sch039 (1) The amendments made by paragraph 8 do not have...

s.sch039 (1) Any claim for relief under Schedule 6 to FA...

s.sch039 Section 45 of FA 1966 (harbour reorganisation schemes: stamp duty)...

s.sch039 Section 221 of TCGA 1992 (harbour reorganisation schemes: transfer of...

s.sch039 Sections 991 to 995 of CTA 2010 (harbour reorganisation schemes)...

s.sch039 In consequence of the provision made by paragraph 15—

s.sch039 (1) The amendment made by paragraph 14 has effect in...

s.sch039 (1) Section 126 of FA 1990 (capital allowances and IHT:...

s.sch039 Section 74 of FA 1960 (visiting forces and allied headquarters:...

s.sch039 (1) Section 121 of FA 1991 (inheritance tax: pools payments...

s.sch039 (1) In ITTOIA 2005, the following provisions are repealed—

s.sch039 (1) In CTA 2009, the following provisions are repealed—

s.sch039 Section 266 of ICTA (income tax relief for life assurance...

s.sch039 No claim for relief may be made under paragraph 6...

s.sch039 (1) In this paragraph— (a) “the 1980 Regulations” means the...

s.sch039 (1) The following repeals are made in consequence of the...

s.sch039 (1) This paragraph applies if— (a) a policy which is...

s.sch039 (1) The following provisions are repealed— (a) section 97 of...

s.sch039 (1) In this paragraph “relevant variation” means a variation made...

s.sch039 (1) In ICTA omit sections 268 to 272 (which provide...

s.sch039 (1) In Chapter 6 of Part 8 of ITA 2007...

s.sch039 The following provisions of Part 2 of CAA 2001 (plant...

s.sch039 (1) In consequence of the provision made by paragraph 33,...

s.sch039 The amendments made by paragraphs 33 and 34 have effect—...

s.sch039 Part 4A of CAA 2001 (flat conversion allowances) does not...

s.sch039 Part 4A of CAA 2001 is repealed.

s.sch039 (1) In consequence of the provision made by paragraph 37,...

s.sch039 In consequence of the provision made by paragraphs 37 and...

s.sch039 (1) Section 87 of FA 1985 (certificates) is amended as...

s.sch039 (1) The amendments made by paragraphs 37 to 39 have...

s.sch039 (1) This paragraph applies if, for corporation tax purposes, the...

s.sch039 (1) Nothing in paragraph 37 or 40(1) is to affect...

s.sch039 (1) The following provisions of ITTOIA 2005 (which provide for...

s.sch039 (1) The following provisions of CTA 2009 (which provide for...

s.sch039 (1) Section 201 of TCGA 1992 (mineral leases: royalties) is...

s.sch039 (1) Section 202 of TCGA 1992 (mineral leases: capital losses)...

s.sch039 In section 203 of TCGA 1992 (provisions supplementary to sections...

s.sch039 (1) In section 455 of ITTOIA 2005 (listed securities held...

s.sch039 (1) Section 249 of TCGA 1992 (grants for giving up...

s.sch039 (1) The following provisions are repealed— (a) section 76 of...

s.sch039 (1) Section 89 of ITEPA 2003 (reduction for meal vouchers)...

s.sch039 (1) ALDA 1979 is amended as follows.

s.sch039 (1) In ALDA 1979, omit— (a) section 1(7) (angostura bitters...

s.sch039 (1) The following provisions are repealed— (a) section 750 of...

s.sch039 (1) Section 62(2) and (3) of FA 1946 (compensation for...

s.sch039 (1) Section 130 of FA 2000 (transfers to registered social...

s.sch039 (1) Sections 92 to 92B of, and Schedule 30 to,...

s.sch039 (1) Section 57 of, and Schedule 6 to, FA 2003...

s.sch039 (1) In Part 5 of FA 2003 (stamp duty), the...

Help complying

Guvnor’s practical routes through this instrument.

Patent Box: reduce Corporation Tax on patented profits

How the Patent Box regime reduces the effective Corporation Tax rate to 10% on profits derived from patented inventions. Covers eligibility, qualifying …

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 2012 (introduced Patent Box)

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What it requires

Income tax, corporation tax and capital gains tax

Insurance companies carrying on long-term business

Friendly societies carrying on long-term business

Controlled foreign companies and foreign permanent establishments

Oil

Excise duties

Value added tax

Other taxes

Miscellaneous matters

Final provisions

Schedules

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Patent Box: reduce Corporation Tax on patented profits