UK Act of Parliament 2015 United Kingdom

Finance Act 2015 (Diverted Profits Tax)

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

Read the Act on legislation.gov.uk (opens in a new tab)
Enforced by
HMRC
Status
In Force
Penalty ceiling
Imprisonment 3 of 15 obligations carry an unlimited fine. 2 carry different penalties and 10 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person7 Director or Officer3 Trader2 Client1

Plus 2 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
Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties
Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties
Client — also bound by 62 other Acts

What it requires

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

Part 1

Income tax, corporation tax and capital gains tax

0 of 51 sections shown
51 other sections in this Part — procedural and definitional
s.001 Charge and rates for 2015-16 (opens in a new tab)
s.002 Limits and allowances for 2015-16 (opens in a new tab)
s.003 Personal allowances for 2015-16 (opens in a new tab)
s.004 Basic rate limit from 2016 (opens in a new tab)
s.005 Personal allowance from 2016 (opens in a new tab)
s.006 Charge for financial year 2016 (opens in a new tab)
s.007 Cars: the appropriate percentage for 2017-18 (opens in a new tab)
s.008 Cars: the appropriate percentage for subsequent tax years (opens in a new tab)
s.009 Diesel cars: the appropriate percentage for 2015-16 (opens in a new tab)
s.010 Zero-emission vans (opens in a new tab)
s.011 Exemption for amounts which would otherwise be deductible (opens in a new tab)
s.012 Abolition of dispensation regime (opens in a new tab)
s.013 Extension of benefits code except in relation to certain ministers of religion (opens in a new tab)
s.014 Exemption for board or lodging provided to carers (opens in a new tab)
s.015 Lump sums provided under armed forces early departure scheme (opens in a new tab)
s.016 Bereavement support payment: exemption from income tax (opens in a new tab)
s.017 PAYE : benefits in kind (opens in a new tab)
s.018 Employment intermediaries: determination of penalties (opens in a new tab)
s.019 Arrangements offering a choice of capital or income return (opens in a new tab)
s.020 Intermediaries and Gift Aid (opens in a new tab)
s.021 Disguised investment management fees (opens in a new tab)
s.022 Miscellaneous loss relief (opens in a new tab)
s.023 Exceptions from duty to deduct tax: qualifying private placements (opens in a new tab)
s.024 Increased remittance basis charge (opens in a new tab)
s.025 Loan relationships: repeal of certain provisions relating to late interest etc (opens in a new tab)
s.026 Intangible fixed assets: goodwill etc acquired from a related party (opens in a new tab)
s.027 Amount of relief for expenditure on research and development (opens in a new tab)
s.028 Expenditure on research and development: consumable items (opens in a new tab)
s.029 Film tax relief (opens in a new tab)
s.030 Reliefs for makers of children's television programmes (opens in a new tab)
s.031 Television tax relief (opens in a new tab)
s.032 Restrictions applying to certain deductions made by banking companies (opens in a new tab)
s.033 Tax avoidance involving carried-forward losses (opens in a new tab)
s.034 Pension flexibility: annuities etc (opens in a new tab)
s.035 Relief for contributions to flood and coastal erosion risk management projects (opens in a new tab)
s.036 Investment reliefs: excluded activities (opens in a new tab)
s.037 Disposals of UK residential property interests by non-residents etc (opens in a new tab)
s.038 Relevant high value disposals: gains and losses (opens in a new tab)
s.039 Private residence relief (opens in a new tab)
s.040 Wasting assets (opens in a new tab)
s.041 Entrepreneurs' relief: associated disposals (opens in a new tab)
s.042 Entrepreneurs' relief: exclusion of goodwill in certain circumstances (opens in a new tab)
s.043 Entrepreneurs' relief: trading company etc (opens in a new tab)
s.044 Deferred entrepreneurs' relief on invested gains (opens in a new tab)
s.045 Zero-emission goods vehicles (opens in a new tab)
s.046 Plant and machinery allowances: anti-avoidance (opens in a new tab)
s.047 Extension of ring fence expenditure supplement (opens in a new tab)
s.048 Reduction in rate of supplementary charge (opens in a new tab)
s.049 Supplementary charge: investment allowance (opens in a new tab)
s.050 Supplementary charge: cluster area allowance (opens in a new tab)
s.051 Amendments relating to investment allowance and cluster area allowance (opens in a new tab)
Part 2

Excise duties and other taxes

1 of 25 sections shown
s.054 Wholesaling of controlled liquor (opens in a new tab) Imprisonment
  • Carry out unapproved wholesale of controlled liquorAny Person
  • Trading in wholesale alcohol without HMRC approvalAny Person
24 other sections in this Part — procedural and definitional
s.052 Reduction in rate of petroleum revenue tax (opens in a new tab)
s.053 Rates of alcoholic liquor duties (opens in a new tab)
s.055 Rates of tobacco products duty (opens in a new tab)
s.056 Excise duty on tobacco: anti-forestalling restrictions (opens in a new tab)
s.057 Air passenger duty: exemption for children in standard class (opens in a new tab)
s.058 VED rates for light passenger vehicles and motorcycles (opens in a new tab)
s.059 VED: extension of old vehicles exemption from 1 April 2016 (opens in a new tab)
s.060 Rates of gaming duty (opens in a new tab)
s.061 Tax credit in Northern Ireland (opens in a new tab)
s.062 Climate change levy: main rates from 1 April 2016 (opens in a new tab)
s.063 Combined heat and power stations (opens in a new tab)
s.064 Landfill tax: rates from 1 April 2016 (opens in a new tab)
s.065 Landfill tax: material consisting of fines (opens in a new tab)
s.066 VAT : refunds to certain charities (opens in a new tab)
s.067 VAT: refunds to strategic highways companies (opens in a new tab)
s.068 SDLT : alternative property finance relief (opens in a new tab)
s.069 SDLT: multiple dwellings relief (opens in a new tab)
s.070 ATED: annual chargeable amount (opens in a new tab)
s.071 ATED: taxable value (opens in a new tab)
s.072 ATED: interests held by connected persons (opens in a new tab)
s.073 ATED: returns (opens in a new tab)
s.074 Inheritance tax: exemption for decorations and other awards (opens in a new tab)
s.075 Inheritance tax: exemption for emergency service personnel etc (opens in a new tab)
s.076 The bank levy: rates from 1 April 2015 (opens in a new tab)
Part 3

Diverted profits tax

10 of 46 sections shown
s.092 Duty to notify if potentially within scope of tax (opens in a new tab) Regulated
  • Notify HMRC if potentially within scope of Diverted Profits TaxTrader
s.095 Charging notice (opens in a new tab) Regulated
  • Pay Diverted Profits Tax after a HMRC charging noticeDirector or Officer
Other duties (1) — Crown / regulator
  • HMRC must issue a charging notice or a clearance notificationStatutory regulator
s.098 Payment of tax (opens in a new tab) Regulated
  • Pay Diverted Profits Tax within 30 daysTrader
  • Pay diverted profits tax within 30 days of a charging noticeDirector or Officer
s.100 Credits for tax on the same profits (opens in a new tab)

amended 3 times (opens in a new tab)

s.100 Relief from corporation tax

amended 3 times

s.101 HMRC review of charging notice (opens in a new tab) Regulated
  • Cooperate with HMRC during Diverted Profits Tax reviewsDirector or Officer
Other duties (1) — Crown / regulator
  • HMRC must review Diverted Profits Tax charging noticesStatutory regulator

amended 2 times (opens in a new tab)

s.101 Amendment of CT return during review period: section 80 or 81 case

amended 2 times

s.101 Amendment of CT return during review period: section 86 case

amended 2 times

s.101 Closure notices: rules during review period

amended 2 times

s.107 “Effective tax mismatch outcome” (opens in a new tab)

amended 1 time (opens in a new tab)

36 other sections in this Part — procedural and definitional
s.077 Introduction to the tax (opens in a new tab)
s.078 Overview of Part 3 (opens in a new tab)
s.079 Charge to tax (opens in a new tab)
s.080 UK company: involvement of entities or transactions lacking economic substance (opens in a new tab)
s.081 Non-UK company: involvement of entities or transactions lacking economic substance (opens in a new tab)
s.082 Calculation of taxable diverted profits in section 80 or 81 case: introduction (opens in a new tab)
s.083 Section 80 or 81 cases where no taxable diverted profits arise (opens in a new tab)
s.084 Section 80 or 81: calculation of profits by reference to the actual provision (opens in a new tab)
s.085 Section 80 or 81: calculation of profits by reference to the relevant alternative provision (opens in a new tab)
s.086 Non-UK company avoiding a UK taxable presence (opens in a new tab)
s.087 Exception for companies with limited UK-related sales or expenses (opens in a new tab)
s.088 Calculation of taxable diverted profits in section 86 case: introduction (opens in a new tab)
s.089 Section 86: calculation of profits where only tax avoidance condition is met (opens in a new tab)
s.090 Section 86: mismatch condition is met: calculation of profits by reference to the actual provision (opens in a new tab)
s.091 Section 86: mismatch condition is met: calculation of profits by reference to the relevant alternative provision (opens in a new tab)
s.093 Preliminary notice (opens in a new tab)
s.094 Representations (opens in a new tab)
s.096 Section 80 or 81 cases: estimating profits for preliminary and charging notices (opens in a new tab)
s.097 Section 86 cases: estimating profits for preliminary and charging notices (opens in a new tab)
s.099 Diverted profits tax ignored for tax purposes (opens in a new tab)
s.102 Appeal against charging notice or supplementary charging notice (opens in a new tab)
s.103 Responsibility for collection and management (opens in a new tab)
s.104 Penalties etc (opens in a new tab)
s.105 Information and inspection powers etc (opens in a new tab)
s.106 “The participation condition” (opens in a new tab)
s.108 Provision supplementing section 107 (opens in a new tab)
s.109 “Excepted loan relationship outcome” (opens in a new tab)
s.110 “The insufficient economic substance condition” (opens in a new tab)
s.111 “Transaction” and “series of transactions” (opens in a new tab)
s.111 Adjustment required to be made to the material provision
s.112 Treatment of a person who is a member of a partnership (opens in a new tab)
s.113 “Accounting period” and “corresponding accounting period” (opens in a new tab)
s.114 Other defined terms in Part 3 (opens in a new tab)
s.114 Application of section 124 of TIOPA 2010 in relation to diverted profits tax
s.115 Application of other enactments to diverted profits tax (opens in a new tab)
s.116 Commencement and transitional provision (opens in a new tab)
Part 4

Other provisions

3 of 8 sections shown
s.120 Penalties in connection with offshore matters and offshore transfers (opens in a new tab)

amended 3 times (opens in a new tab)

s.121 Penalties in connection with offshore asset moves (opens in a new tab) Prosecution
  • Additional penalty for offshore asset moves linked to tax compliance failuresAny Person
  • Move offshore assets to avoid tax penaltiesAny Person

Unlimited fine

s.122 Country-by-country reporting (opens in a new tab)

amended 2 times (opens in a new tab)

5 other sections in this Part — procedural and definitional
s.117 Disclosure of tax avoidance schemes (opens in a new tab)
s.118 Accelerated payments and group relief (opens in a new tab)
s.119 Promoters of tax avoidance schemes (opens in a new tab)
s.123 Status for tax purposes of certain bodies (opens in a new tab)
s.124 Redemption of undated government stocks (opens in a new tab)
Part 5

Final provisions

0 of 3 sections shown
3 other sections in this Part — procedural and definitional
s.125 Commencement orders and regulations (opens in a new tab)
s.126 Interpretation (opens in a new tab)
s.127 Short title (opens in a new tab)
Schedules

Schedules

4 of 320 shown
s.sch017 After section 310B of FA 2004 insert— Duty of promoters... Regulated
  • Notify HMRC of changes to tax avoidance scheme details within 30 daysAny Person
s.sch017 After section 316 of FA 2004 insert— Duty to provide... Regulated
  • Provide additional HMRC‑specified information to recipientsAny Person
s.sch017 After section 313ZB of FA 2004 insert— Duty of employer... Regulated
  • Provide HMRC with information on employees benefiting from tax avoidance schemesClient
s.sch021 The penalties referred to in paragraph 1(2) are— Prosecution
  • Provide inaccurate document or fail to notify HMRC of tax liabilityAny Person

Unlimited fine

316 other schedules
s.001 Extension of benefits code except in relation to certain ministers of religion (opens in a new tab)
s.002 Restrictions applying to certain deductions made by banking companies (opens in a new tab)
s.003 Tax avoidance involving carried-forward losses (opens in a new tab)
s.004 Pension flexibility: annuities etc (opens in a new tab)
s.007 Disposals of UK residential property interests by non-residents etc (opens in a new tab)
s.008 Relevant high value disposals: gains and losses (opens in a new tab)
s.009 Private residence relief (opens in a new tab)
s.010 Plant and machinery allowances: anti-avoidance (opens in a new tab)
s.011 Extension of ring fence expenditure supplement (opens in a new tab)
s.013 Supplementary charge: cluster area allowance (opens in a new tab)
s.015 Landfill tax: material consisting of fines (opens in a new tab)
s.018 Accelerated payments: group relief (opens in a new tab)
s.019 Promoters of tax avoidance schemes (opens in a new tab)
s.sch001 ITEPA 2003 is amended as follows.
s.sch001 (1) Section 169A (van available to more than one family...
s.sch001 In section 184 (interest treated as paid), in subsection (3),...
s.sch001 (1) Section 188 (loan released or written off: amount treated...
s.sch001 In section 228 (effect of exemptions in Part 4 on...
s.sch001 (1) Section 239 (payments and benefits connected with taxable cars...
s.sch001 In section 266 (exemption of non-cash vouchers for exempt benefits),...
s.sch001 In section 267 (exemption of credit-tokens used for exempt benefits),...
s.sch001 In section 269 (exemption where benefits or money obtained in...
s.sch001 In section 290 (accommodation benefits of ministers of religion), in...
s.sch001 In section 290A (accommodation outgoings of ministers of religion)—
s.sch001 In section 7 (meaning of “employment income”, “general earnings” and...
s.sch001 In section 290B (allowances paid to ministers of religion in...
s.sch001 (1) Part 2 of Schedule 1 (index of defined expressions)...
s.sch001 (1) Schedule 7 (transitionals and savings) is amended as follows....
s.sch001 (1) The Social Security Contributions and Benefits Act 1992 is...
s.sch001 (1) The Social Security Contributions and Benefits (Northern Ireland) Act...
s.sch001 (1) Section 173 of FA 2004 (provision of benefits by...
s.sch001 In CTA 2010, in section 1065 (exception for benefits treated...
s.sch001 In section 17 (UK resident employees: treatment of earnings for...
s.sch001 In section 30 (remittance basis and non-UK resident employees: treatment...
s.sch001 (1) Section 63 (the benefits code) is amended as follows....
s.sch001 In section 66 (meaning of “employment” and related expressions), after...
s.sch001 In section 148 (reduction of cash equivalent where car is...
s.sch001 In section 157 (reduction of cash equivalent where van is...
s.sch001 (1) Section 169 (car available to more than one family...
s.sch002 In CTA 2010, after Part 7 insert— PART 7A Banking...
s.sch002 In Schedule 18 to FA 1998 (company tax returns, assessments...
s.sch002 In section 1223 of CTA 2009 (carrying forward expenses of...
s.sch002 In section 1 of CTA 2010 (overview of Act), in...
s.sch002 In Schedule 4 to CTA 2010 (index of defined expressions),...
s.sch002 (1) In Part 9A of TIOPA 2010 (controlled foreign companies),...
s.sch002 (1) The amendments made by paragraphs 1 to 5 of...
s.sch002 (1) The amendments made by paragraph 6 of this Schedule...
s.sch002 (1) This sub-paragraph applies if— (a) for the purposes of...
s.sch003 In CTA 2010, after Part 14A insert— PART 14B Tax...
s.sch003 In section 1 of CTA 2010 (overview of Act), in...
s.sch003 In Schedule 4 to CTA 2010 (index of defined expressions),...
s.sch003 (1) The amendments made by this Schedule have effect for...
s.sch004 Part 4 of FA 2004 is amended as follows.
s.sch004 (1) Section 172B (increase of rights of connected person on...
s.sch004 In section 273B(1) (power of trustees or managers to make...
s.sch004 In section 280(2) (index of defined expressions) at the appropriate...
s.sch004 (1) Schedule 28 (interpretation of the pension rules and the...
s.sch004 (1) Paragraph 3 of Schedule 29 (interpretation of the lump...
s.sch004 In paragraph 15(2)(a) of Schedule 29 (uncrystallised funds lump sum...
s.sch004 In consequence of paragraph 7(b) of this Schedule, omit paragraph...
s.sch004 (1) In Chapter 17 of Part 9 of ITEPA 2003...
s.sch004 In section 393B(2)(a) of ITEPA 2003 (tax on benefits under...
s.sch004 In Schedule 36 to FA 2004 (transitional provision etc in...
s.sch004 (1) Section 167(1) (the pension death benefit rules) is amended...
s.sch004 In section 573 of ITEPA 2003 (foreign pensions to which...
s.sch004 In Chapter 10 of Part 9 of ITEPA 2003 (other...
s.sch004 In section 579A of ITEPA 2003 (section applies to pensions...
s.sch004 (1) For section 579CZA(5)(b) of ITEPA 2003 (tax exemption for...
s.sch004 (1) Part 2 of Schedule 28 (interpretation of the pension...
s.sch004 (1) In section 216(1) (benefit crystallisation events and amounts crystallised)...
s.sch004 (1) Section 217 (persons liable to lifetime allowance charge) is...
s.sch004 In section 219(7A) (events 5C and 7 are “relevant post-death”...
s.sch004 In Schedule 32 (supplementary provisions about benefit crystallisation events)—
s.sch004 In section 172(6A)(b) (“benefit” in section 172 includes rights to...
s.sch004 (1) Section 172A (surrenders of benefits and rights) is amended...
s.sch005 Relief for contributions to flood and coastal erosion risk management projects (opens in a new tab)
s.sch005 In Chapter 5 of Part 2 of ITTOIA 2005 (trade...
s.sch005 In section 272 of ITTOIA 2005 (application of trading income...
s.sch005 In Chapter 5 of Part 3 of CTA 2009 (trading...
s.sch005 In section 210 of CTA 2009 (application of trading income...
s.sch005 In Chapter 2 of Part 16 of CTA 2009 (investment...
s.sch005 In Chapter 3 of Part 16 of CTA 2009 (investment...
s.sch005 In Chapter 5 of Part 16 of CTA 2009 (investment...
s.sch005 In section 253 of CAA 2001 (companies with investment business),...
s.sch005 The amendments made by this Schedule have effect in relation...
s.sch006 Investment reliefs: excluded activities (opens in a new tab)
s.sch006 In Part 5B of ITA 2007 (tax relief for social...
s.sch006 (1) Part 5 of ITA 2007 is further amended as...
s.sch006 (1) Part 6 of ITA 2007 is further amended as...
s.sch006 In consequence of paragraphs 10 and 11—
s.sch006 (1) Part 5B of ITA 2007 is further amended as...
s.sch006 (1) The amendments made by this Part of this Schedule...
s.sch006 The following provisions of Part 5 of ITA 2007 (enterprise...
s.sch006 In section 198A— (a) in subsection (3), omit “or” at...
s.sch006 (1) In section 198A— (a) in subsection (5), omit “,...
s.sch006 The amendments made by this Part of this Schedule have...
s.sch006 The following provisions of Part 6 of ITA 2007 (venture...
s.sch006 In section 309A— (a) in subsection (3), omit “or” at...
s.sch006 (1) In section 309A— (a) in subsection (5), omit “,...
s.sch006 The amendments made by this Part of this Schedule have...
s.sch007 TCGA 1992 is amended in accordance with paragraphs 2 to...
s.sch007 In section 13 (attribution of gains to members of non-resident...
s.sch007 After section 14A insert— UK residential property: non-resident CGT Meaning...
s.sch007 In section 16 (computation of losses), in subsection (3), for...
s.sch007 After section 25 insert— Deemed disposal of UK residential property...
s.sch007 After section 48 insert— Unascertainable consideration (1) This section applies where— (a) a person (“P”) has...
s.sch007 In section 57A (gains and losses on relevant high value...
s.sch007 In Part 2, after Chapter 5 insert— CHAPTER 6 Computation...
s.sch007 (1) Section 62 (death: general provisions) is amended as follows....
s.sch007 After section 80 insert— Deemed disposal of UK residential property...
s.sch007 In section 86 (attribution of gains to settlors with interest...
s.sch007 In section 1 (the charge to tax), in subsection (2A),...
s.sch007 In section 87 (non-UK resident settlements: attribution of gains to...
s.sch007 (1) Section 139 (reconstruction involving transfer of business) is amended...
s.sch007 After section 159 insert— Non-resident CGT disposals: roll-over relief (1) Section 152 does not apply in relation to a...
s.sch007 (1) Section 165 (relief for gifts of business assets) is...
s.sch007 In section 166 (gifts to non-residents), in subsection (1), for...
s.sch007 In section 167 (gifts to foreign-controlled companies), in subsection (1),...
s.sch007 After section 167 insert— Gifts of UK residential property interests...
s.sch007 In section 168 (emigration of donee), in subsection (1), after...
s.sch007 After section 168 insert— Deemed disposal of UK residential property...
s.sch007 After section 187A insert— Deemed disposal of UK residential property...
s.sch007 (1) Section 2 (persons and gains chargeable to capital gains...
s.sch007 Before section 189 (and the italic heading before it), insert—...
s.sch007 (1) Section 260 (gifts on which inheritance tax is chargeable...
s.sch007 In section 261 (section 260 relief: gifts to non-residents), in...
s.sch007 After section 261 insert— Gifts of UK residential property interests...
s.sch007 In section 288 (interpretation), in subsection (1), at the appropriate...
s.sch007 (1) Schedule 1 (application of exempt amount etc in cases...
s.sch007 After Schedule A1, insert— SCHEDULE B1 Disposals of UK residential...
s.sch007 After Schedule B1 (as inserted by paragraph 36), insert— SCHEDULE...
s.sch007 (1) Schedule 4ZZA (relevant high value disposals: gains and losses)...
s.sch007 After Schedule 4ZZA insert— SCHEDULE 4ZZB Non-resident CGT disposals: gains...
s.sch007 In section 2B (persons chargeable to capital gains tax on...
s.sch007 In Schedule 4C (transfers of value: attribution of gains etc),...
s.sch007 TMA 1970 is amended in accordance with paragraphs 42 to...
s.sch007 After section 7 insert— Disregard of certain NRCGT gains for...
s.sch007 Before section 12AA (and the italic heading before it) insert—...
s.sch007 (1) Section 28A (completion of enquiry into personal or trustee...
s.sch007 Before section 29 insert— Determination of amount notionally chargeable where...
s.sch007 In section 29 (assessment where loss of tax discovered), in...
s.sch007 After section 29 insert— Non-resident CGT disposals: determination of amount...
s.sch007 In section 34 (ordinary time limit of 4 years), after...
s.sch007 In section 42 (procedure for making claims), in subsection (11),...
s.sch007 (1) Section 3 (annual exempt amount) is amended as follows....
s.sch007 In section 59A (payments on account of income tax), omit...
s.sch007 After section 59A insert— Non-resident CGT disposals: payments on account...
s.sch007 (1) Section 59B (payment of income tax and capital gains...
s.sch007 In section 107A (relevant trustees), in subsection (2)(b), after “59A”...
s.sch007 In section 118 (interpretation), in subsection (1), at the appropriate...
s.sch007 (1) Schedule 3ZA (date by which payment to be made...
s.sch007 (1) In FA 2007, Schedule 24 (penalties for errors) is...
s.sch007 In Schedule 36 to FA 2008 (information and inspection powers),...
s.sch007 In CTA 2009, in section 2 (charge to corporation tax),...
s.sch007 (1) In Schedule 55 to FA 2009 (penalty for failure...
s.sch007 In section 4 (rates of capital gains tax), after subsection...
s.sch007 The amendments made by this Schedule have effect in relation...
s.sch007 For section 4B (deduction of losses etc in most beneficial...
s.sch007 (1) Section 8 (company's profits for corporation tax purposes to...
s.sch007 In section 10A (temporary non-residents), as that section has effect...
s.sch008 The Taxation of Chargeable Gains Act 1992 is amended as...
s.sch008 (1) Paragraph 4 is amended as follows.
s.sch008 (1) Paragraph 5 is amended as follows.
s.sch008 In the italic heading before paragraph 6, for “assets acquired...
s.sch008 In paragraph 6, for sub-paragraph (1)(b) substitute—
s.sch008 (1) Section 2C (“relevant high value disposal”) is amended as...
s.sch008 (1) Section 2D (CGT on ATED-related gains: the threshold amount)...
s.sch008 (1) Section 2D (CGT on ATED-related gains: the threshold amount)...
s.sch008 In section 2E (restriction of losses), in subsection (3)—
s.sch008 Schedule 4ZZA (relevant high value disposals: gains and losses) is...
s.sch008 For the italic heading before paragraph 2 substitute “ Assets...
s.sch008 For paragraph 2 substitute— (1) In Cases 1 to 3 below—
s.sch008 (1) Paragraph 3 is amended as follows.
s.sch009 TCGA 1992 is amended in accordance with this Schedule.
s.sch009 The amendments made by this Schedule have effect in relation...
s.sch009 In section 222 (relief on disposal of private residence)—
s.sch009 After section 222 insert— Determination of main residence: non-resident CGT...
s.sch009 (1) Section 223 (amount of relief) is amended as follows....
s.sch009 After section 223 insert— Amount of relief: non-resident CGT disposals...
s.sch009 (1) Section 225 (private residence occupied under terms of settlement)...
s.sch009 (1) Section 225A (private residence held by personal representatives) is...
s.sch009 In section 225B (disposals in connection with divorce etc), in...
s.sch009 In section 225E (disposals by disabled persons or persons in...
s.sch010 CAA 2001 is amended as follows.
s.sch010 (1) Section 70DA is amended as follows.
s.sch010 (1) Section 218 is amended as follows.
s.sch010 (1) Section 229A is amended as follows.
s.sch010 (1) Section 242 is amended as follows.
s.sch011 Chapter 5 of Part 8 of CTA 2010 (ring fence...
s.sch011 After section 328 insert— Adjustment of pool to remove pre-2013...
s.sch011 In section 270 of CTA 2010 (overview of Part 8)...
s.sch011 (1) Schedule 4 to CTA 2010 (index of defined expressions)...
s.sch011 (1) In Part 8 of CTA 2010, Chapter 5A (extended...
s.sch011 The amendments made by this Schedule have effect in relation...
s.sch011 In section 307 (overview of Chapter), in subsection (5) for...
s.sch011 In section 309 (accounting periods), in subsection (4), for the...
s.sch011 (1) Section 311 (limit on number of accounting periods for...
s.sch011 In section 316 (the mixed pool of qualifying pre-commencement expenditure...
s.sch011 In section 317 (reduction in respect of disposal receipts under...
s.sch011 After section 318 insert— Adjustment of pool to remove pre-2013...
s.sch011 (1) Section 326 (the ring fence pool) is amended as...
s.sch011 In section 327 (reductions in respect of utilised ring fence...
s.sch012 Supplementary charge: investment allowance (opens in a new tab)
s.sch012 Part 8 of CTA 2010 (oil activities) is amended in...
s.sch012 After Chapter 6 insert— CHAPTER 6A Supplementary charge: investment allowance...
s.sch012 Chapter 7 (reduction of supplementary charge for eligible oil fields)...
s.sch012 In this Part of this Schedule, the following expressions have...
s.sch012 The amendment made by paragraph 2 has effect in relation...
s.sch012 (1) The amendment made by paragraph 3 has effect—
s.sch012 (1) This paragraph applies if, in the absence of this...
s.sch012 (1) This paragraph applies if, in the absence of this...
s.sch013 Part 8 of CTA 2010 (oil activities) is amended in...
s.sch013 After Chapter 8 insert— CHAPTER 9 Supplementary charge: cluster area...
s.sch013 Section 349A (meaning of “additionally-developed oil field”), so far as...
s.sch013 Section 350 (meaning of “new oil field”), so far as...
s.sch013 (1) Sub-paragraph (2) applies if the Secretary of State has...
s.sch013 (1) This paragraph applies where— (a) a cluster area has...
s.sch014 Investment allowance and cluster area allowance: further amendments (opens in a new tab)
s.sch014 CTA 2010 is amended as follows.
s.sch014 (1) The amendments made by Part 1 of this Schedule...
s.sch014 (1) Section 270 (overview of Part) is amended as follows....
s.sch014 In section 330 (supplementary charge in respect of ring fence...
s.sch014 After section 330 insert— Ordering of allowances (1) In this section “relieving Chapter” means any of the...
s.sch014 In section 356C (generation of onshore allowance), in subsection (9)(a),...
s.sch014 Omit section 356DB (companies with both field allowance and onshore...
s.sch014 Before section 356J (but after the heading “Interpretation”) insert— Authorisation...
s.sch014 In section 356JB (definitions for Chapter 8), in the definition...
s.sch014 (1) Schedule 4 (index of defined expressions) is amended as...
s.sch015 Part 3 of FA 1996 (landfill tax) is amended as...
s.sch015 (1) Section 42 (amount of tax charged on a taxable...
s.sch015 In section 63 (qualifying material: special provisions), after subsection (4)...
s.sch015 After section 63 insert— Qualifying fines: special provisions (1) This section applies for the purposes of section 42....
s.sch015 In section 70(1) (interpretation), at the appropriate place insert— “fines”...
s.sch015 (1) In section 71 (orders and regulations), subsection (7) is...
s.sch015 (1) Schedule 5 (provision about information etc) is amended as...
s.sch015 The amendments made by this Schedule have effect in relation...
s.sch016 Recovery of unpaid diverted profits tax due from non-UK resident company (opens in a new tab)
s.sch016 (1) Chapter 6 of Part 22 of CTA 2010 (collection...
s.sch016 (1) This Part of this Schedule applies if—
s.sch016 In this Part of this Schedule “the relevant period”, in...
s.sch016 (1) A company is a “related company”, for the purposes...
s.sch016 (1) An officer of Revenue and Customs may serve a...
s.sch016 A notice under this Part of this Schedule must be...
s.sch016 (1) In a consortium case, the amount that the related...
s.sch016 (1) A company that has paid an amount in pursuance...
s.sch017 Disclosure of tax avoidance schemes (opens in a new tab)
s.sch017 In section 316 of that Act (information to be provided...
s.sch017 In section 98C of TMA 1970 (notification under Part 7...
s.sch017 (1) Section 313C of FA 2004 (information provided to introducers)...
s.sch017 In section 98C of TMA 1970 (notification under Part 7...
s.sch017 In section 98C of TMA 1970 (notification under Part 7...
s.sch017 After section 316A of FA 2004 insert— Confidentiality No duty of confidentiality or other restriction on disclosure (however...
s.sch017 After section 316B of FA 2004 insert— Publication by HMRC...
s.sch017 In section 98C of TMA 1970 (notification under Part 7...
s.sch017 (1) Section 310C of FA 2004 applies in relation to...
s.sch017 In section 316 of that Act (information to be provided...
s.sch017 Any notice given by HMRC under section 312A(4) of FA...
s.sch017 (1) Section 316C of FA 2004 applies in relation to...
s.sch017 In section 98C of TMA 1970 (notification under Part 7...
s.sch017 In section 311(1)(a) of FA 2004 (period for allocation of...
s.sch017 (1) Section 312A of FA 2004 (duty of client to...
s.sch017 In section 313 of that Act (duty of parties to...
s.sch017 In section 316 of that Act (information to be provided...
s.sch017 In section 98C of TMA 1970 (notification under Part 7...
s.sch018 Part 4 of FA 2014 (accelerated payments etc) is amended...
s.sch018 (1) Schedule 32 (accelerated payments and partnerships) is amended as...
s.sch018 In section 55 of TMA 1970 (recovery of tax not...
s.sch018 (1) Section 225A(3) of FA 2014 (effect of notices: surrender...
s.sch018 In section 199 (overview of Part 4), in paragraph (c)...
s.sch018 (1) Section 220 (content of notice given while a tax...
s.sch018 (1) Section 221 (content of notice given pending an appeal)...
s.sch018 (1) Section 222 (representations about a notice) is amended as...
s.sch018 (1) Section 223 (effect of notice given while tax enquiry...
s.sch018 After section 225 insert— Prevention of surrender of losses Effect...
s.sch018 (1) Section 227 (withdrawal, modification or suspension of accelerated payment...
s.sch018 After section 227 insert— Group relief claims after accelerated payment...
s.sch019 Part 5 of FA 2014 (promoters of tax avoidance schemes)...
s.sch019 (1) Section 237 (duty to give conduct notice) is amended...
s.sch019 In section 283 (interpretation of Part 5), in the definition...
s.sch019 (1) Part 2 of Schedule 34 (meeting the threshold conditions)...
s.sch019 In Schedule 36 (partnerships)— (a) omit paragraph 4 (threshold conditions:...
s.sch019 In Schedule 34 (threshold conditions), in paragraph 5 (non-compliance with...
s.sch019 (1) In Schedule 34 (threshold conditions), paragraph 8 (disciplinary action:...
s.sch019 In Part 3 of Schedule 34 (power to amend), at...
s.sch019 The amendments made by paragraphs 2 to 7 have effect...
s.sch020 Penalties in connection with offshore matters and offshore transfers (opens in a new tab)
s.sch020 Schedule 24 to FA 2007 is amended as follows.
s.sch020 (1) Paragraph 6 (amount of penalty: standard amount) is amended...
s.sch020 (1) Paragraph 6A (categorisation of failures) is amended as follows....
s.sch020 After paragraph 6A insert— (1) This paragraph makes provision in relation to offshore transfers....
s.sch020 In paragraph 13 (standard percentage reductions for disclosure), in the...
s.sch020 Schedule 55 to FA 2009 is amended as follows.
s.sch020 (1) Paragraph 6 (penalty for failure continuing 12 months after...
s.sch020 (1) Paragraph 6A (categorisation of information) is amended as follows....
s.sch020 After paragraph 6A insert— (1) This paragraph makes provision in relation to offshore transfers....
s.sch020 In paragraph 15 (standard percentage reductions for disclosure), in the...
s.sch020 In paragraph 17(4) (interaction with other penalties and late payment...
s.sch020 (1) Paragraph 4 (penalties payable under paragraph 1) is amended...
s.sch020 (1) In Schedule 43C to FA 2013 (general anti-abuse rule:...
s.sch020 (1) Section 212(5) of FA 2014 (follower notices: aggregate penalties)...
s.sch020 (1) Paragraph 4A (categorisation of inaccuracies) is amended as follows....
s.sch020 After paragraph 4A insert— (1) This paragraph makes provision in relation to offshore transfers....
s.sch020 In paragraph 10 (standard percentage reductions for disclosure), in the...
s.sch020 In paragraph 12(5) (interaction with other penalties and late payment...
s.sch020 (1) Paragraph 21A (classification of territories) is amended as follows....
s.sch020 (1) Paragraph 21B (location of assets etc) is amended as...
s.sch020 Schedule 41 to FA 2008 is amended as follows.
s.sch021 Penalties in connection with offshore asset moves (opens in a new tab)
s.sch021 (1) A penalty is payable by a person (“P”) where...
s.sch021 The original penalty is for a “deliberate failure” if—
s.sch021 (1) There is a “relevant offshore asset move” if, at...
s.sch021 (1) “The relevant time” has the meaning given by this...
s.sch021 (1) The penalty payable under paragraph 1(1) is 50% of...
s.sch021 (1) Where a person becomes liable for a penalty under...
s.sch021 (1) A person may appeal against a decision of HMRC...
s.sch021 (1) This Schedule has effect in relation to relevant offshore...
1 other provision
Part 3 Part 3 (Diverted Profits Tax)

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Diverted Profits Tax for multinationals

Guide to Diverted Profits Tax (DPT) for multinational businesses operating in the UK. Understand the 31% tax rate, two charging scenarios (avoided …
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