# Taxation in the United Kingdom/Legislation

Links to a narrative description of relevant tax legislation for 2005-06 are below. Note that this is NOT the legislation itself, which is available from OPSI (see http://www.opsi.gov.uk).

## Income and Corporation Taxes Act 1988
### Part I - The charge to tax
##### Corporation tax

Section 6 - The charge to corporation tax and exclusion of income tax and capital gains Section 7 - Treatment of certain payments and repayment of income tax Section 8 - General scheme of corporation tax Section 9 - Computation of income: application of income tax principles Section 11 - Companies not resident in the United Kingdom Section 11AA - Determination of profits attributable to permanent establishment Section 12 - Basis of, and periods of, assessment

##### Small companies' rate

Section 13 - Small companies' relief Section 13ZA - Interpretation of section 13(7) Section 13AA - Corporation tax starting rate Section 13AB - The non-corporate distribution rate (repealed for distributions made on or after 1 April 2006) Section 13A - Close investment-holding companies

##### Advance corporation tax

Section 14 - Advance corporation tax and qualifying distributions

##### The six schedules

Section 15 - Schedule A Section 18 - Schedule D

### Part II - Provisions relating to the Schedule A charge
#### General

Section 21A - Computation of amount chargeable Section 21B - Application of other rules applicable to Case I of Schedule D Section 21C - The Schedule A charge and mutual business Section 24 - Construction of Part II

#### Deductions and other allowances

Section 30 - Expenditure on making sea walls

#### Premiums, leases at undervalue etc.

Section 34 - Treatment of premiums etc. as rent Section 35 - Charge on assignment of lease granted at an undervalue Section 36 - Charge on sale of land with right to reconveyance Section 37 - Premiums paid etc.: deductions from premiums and rent received Section 37A - Section 37(4) and reductions in receipts under ITTOIA 2005 Section 38 - Rules for ascertaining duration of leases Section 39 - Saving for pre-1963 leases, and special relief for individuals

#### Supplementary provisions

Section 40 - Tax treatment of receipts and outgoings on sale of land Section 42 - Appeals against determinations under sections 34 or 36 or Chapter 4 of Part 3 of ITTOIA 2005 Section 42A - Non-residents and their representatives

### Part III - Government securities
#### Government securities and tax reserve certificates

Section 46 - Savings certificates and tax reserve certificates Section 49 - Stock and dividends in name of Treasury etc.

#### Government securities: Treasury directions for payment without deduction of tax

Section 50 - United Kingdom securities: Treasury directions for payment without deduction of tax Section 51 - Treasury directions as respects Northern Ireland securities Section 51AA - Commencement of direction under section 50 or 51

### Schedules

Schedule A1 - Determination of profits attributable to permanent establishment: supplementary provisions Schedule A2 - Corporation tax: the non-corporate distribution rate: supplementary provisions (now repealed)

## Finance Act 2002
### Part 3 - Income tax, corporation tax and capital gains tax
#### Chapter 1 - Charge and rate bands

Section 30 - Charge and main rate for financial year 2003 Section 31 - Small companies' rate and fraction for financial year 2002 Section 32 - Corporation tax starting rate and fraction for financial year 2002

## Finance Act 2003
### Part 6 - Income tax and corporation tax: Charge and rate bands

Section 133 - Charge and main rate for financial year 2004 Section 134 - Small companies' rate and fraction for financial year 2003 Section 135 - Corporation tax starting rate and fraction for financial year 2003

## Finance Act 2004
### Part 3 - Income tax, corporation tax and capital gains tax
#### Chapter 1 - Income tax and corporation tax charge and rate bands

Section 25 - Charge and main rate for financial year 2005 Section 26 - Small companies' rate and fraction for financial year 2004 Section 27 - Corporation tax starting rate and fraction for financial year 2004 Section 28 - The non-corporate distribution rate

## Finance Act 2005
### Part 2 - Income tax, corporation tax and capital gains tax
#### Chapter 1 - Income tax and corporation tax charge and rate bands

Section 10 - Charge and main rate for financial year 2006 Section 11 - Small companies' rate and fraction for financial year 2005 Section 12 - Corporation tax starting rate and fraction for financial year 2005 Section 13 - Non-corporate distribution rate for financial year 2005