Finance (No. 2) Act 2017, Schedule 14 | UK Legislation | Guvnor

What this means for your business

2 guides

Enforced by: IPO, OPSS, ECJU
Applies to: United Kingdom
On this page: 2 practical guides across 2 topics

Read full text on legislation.gov.uk

Practical guidance

Our guides explain how to comply with the requirements above.

Prepare for Making Tax Digital for VAT

What you need to do to comply with Making Tax Digital requirements for VAT, including digital record keeping, choosing software, …

Making Tax Digital for businesses

How to comply with Making Tax Digital requirements.

Sections and provisions

90 classified provisions from this legislation.

1 Duties 4 Offences and penalties 5 Powers 11 Definitions 7 Exemptions

Duties 1

s.50 Register of approved persons

Offences and penalties 4

s.53 Offence
s.54 Forfeiture
s.65 Penalties for enablers of defeated tax avoidance
Schedule 18 Requirement to correct certain offshore tax non-compliance

Powers 5

s.41 Co-ownership authorised contractual schemes: information requirements
s.51 Regulations relating to approval, registration etc.
s.52 Disclosure of information by HMRC
s.55 Penalties
Schedule 16 Penalties for enablers of defeated tax avoidance

Definitions 11

Schedule 6 Relief for production of museum and gallery exhibitions
s.19 Losses: counteraction of avoidance arrangements
s.40 Co-ownership authorised contractual schemes: capital allowances
s.42 Co-ownership authorised contractual schemes: offshore funds
s.44 Petroleum revenue tax: elections for oil fields to become non-taxable
s.49 Requirement for approval
s.58 Interpretation
s.60 Digital reporting and record-keeping for income tax etc
s.69 Data-gathering from money service businesses
s.71 Interpretation
Schedule 10 Inheritance tax on overseas property representing UK residential property double taxation relief arrangements effective rate UK residential property interest

Exemptions 7

s.3 Pensions advice
Schedule 11 Employment income provided through third parties: loans etc outstanding on 5 April 2019
Schedule 12 Trading income provided through third parties: loans etc outstanding on 5 April 2019
s.47 Tobacco products manufacturing machinery: licensing scheme
s.57 Regulations
Schedule 9 Settlements and transfer of assets abroad: value of benefits
Schedule 13 Imported goods fulfilment businesses: penalty