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

What this means for your business

Enforced by: HMRC
Applies to: United Kingdom

Read full text on legislation.gov.uk

Guidance

We are still building practical guidance for this legislation.

Read the full text on legislation.gov.uk

Sections and provisions

884 classified provisions from this legislation.

1 Duties 4 Offences and penalties 6 Powers 10 Definitions 6 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 6

s.57 Section 57 (First-time buyer relief)
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 10

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.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 6

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
Schedule 9 Settlements and transfer of assets abroad: value of benefits
Schedule 13 Imported goods fulfilment businesses: penalty