Source: http://www.legislation.gov.uk/ukpga/2013/29/contents
Timestamp: 2018-04-20 18:35:01
Document Index: 544526691

Matched Legal Cases: ['art 2', 'ART 2', 'ART 3', 'art 3', 'ART 4', 'ART 5', 'art 5', 'ART 1', 'art 7', 'art 4', 'art 11', 'art 6', 'art 9', 'art 8', 'ART 2', 'art 7', 'art 5', 'art 6', 'art 7', 'art 5', 'art 6', 'art 6', 'ART 3', 'art 7', 'art 3', 'art 11', 'art 3', 'art 9', 'art 3', 'ART 4', 'art 7', 'art 4', 'art 5', 'art 6', 'art 7', 'art 9', 'art 10', 'art 11', 'art 4', 'art 6', 'art 7', 'art 9', 'art 2', 'art 4', 'art 5', 'art 6', 'art 8', 'ART 5', 'art 6', 'art 9', 'ART 6', 'art 8', 'ART 7', 'art 9', 'ART 8', 'art 2', 'art 2', 'art 7', 'art 7', 'art 2', 'art 2', 'art 2', 'art 4', 'art 8', 'art 2', 'ART 1', 'art 2', 'ART 2', 'art 14', 'art 1', 'art 2', 'art 14', 'art 4', 'ART 1', 'art 1', 'art 1', 'ART 2', 'art 4', 'ART 3', 'art 13', 'ART 2', 'ART 3', 'art 15', 'art 4', 'art 4', 'art 4', 'art 14', 'art 14', 'art 14', 'art 14', 'ART 14', 'art 3', 'art 13', 'art 9', 'art 8', 'ART 3', 'art 13', 'art 13', 'art 13', 'arts 1', 'art 3', 'art 15', 'ART 15', 'art 15', 'art 9', 'art 3', 'art 13', 'art 15', 'art 8', 'art 12', 'art 15', 'art 21', 'ART 21', 'art 13', 'ART 1', 'art 4', 'art 1', 'ART 1', 'art 3', 'art 4', 'ART 2', 'art 12', 'ART 4', 'art 4', 'art 5', 'art 4', 'ART 1', 'art 2', 'art 2', 'art 7', 'art 7', 'art 7', 'art 11', 'ART 11', 'art 18', 'ART 17', 'ART 3', 'art 15', 'art 17', 'art 17', 'arts 1', 'art 3', 'ART 1', 'art 10', 'art 10', 'ART 1', 'art 2', 'art 8', 'art 3', 'art 2', 'art 8', 'art 3', 'art 2', 'art 8', 'art 2', 'art 8', 'ART 2', 'art 8', 'art 2', 'ART 1', 'ART 2', 'ART 3', 'art 4', 'art 4', 'ART 1', 'ART 2', 'ART 3', 'ART 4', 'ART 5', 'ART 6', 'ART 1', 'ART 1', 'ART 2', 'art 1', 'ART 1', 'ART 2', 'art 2', 'ART 3', 'ART 4', 'ART 3', 'art\n53', 'art\n56', 'art 7', 'art 4', 'art 13', 'art 2', 'art 2', 'ART 4', 'art 6', 'art 7', 'art 9', 'art 11', 'art 4', 'art 5', 'art 14', 'art 4', 'art 2', 'arts 1', 'ART 1', 'ART 2', 'ART 3', 'art 4', 'art 4', 'art 9', 'art 2', 'art 6', 'art 9']

There are currently no known outstanding effects for the Finance Act 2013.
CHAPTER 1 Charges, rates etc
1.Charge for 2013-14
2.Personal allowance for 2013-14 for those born after 5 April 1948
3.Basic rate limit for 2013-14
4.Charge and main rate for financial year 2014
5.Small profits rate and fractions for financial year 2013
6.Main rate for financial year 2015
7.Temporary increase in annual investment allowance
8.London Anniversary Games
9.Glasgow Commonwealth Games
10.Expenses of elected representatives
11.Exemption from income tax of contributions to pension schemes
12.Childcare exemptions: meaning of disabled child
13.Income tax exemption for universal credit
14.Tax advantaged employee share schemes
15.Abolition of tax relief for patent royalties
16.Limit on income tax reliefs
17.Cash basis for small businesses
18.Deductions allowable at a fixed rate
19.Employment income: duties performed in the UK and overseas
20.Remittance basis: exempt property
21.Payments on account
22.Arrangements made by intermediaries
23.Taxable benefit of cars: the appropriate percentage
24.Gains from contracts for life insurance etc
25.Qualifying insurance policies
26.Transfer of assets abroad
27.Payments of interest
28.Disguised interest
Losses, other reliefs and deductions
29.Restriction on surrender of losses: controlled foreign company cases
30.Loss relief surrenderable by non-UK resident established in EEA state
31.Arrangements for transfers of companies
32.Change in company ownership: company reconstructions
33.Change in company ownership: shell companies
34.Transfer of deductions
35.R&D expenditure credits
36.Relief for television production and video games development
37.Health service bodies: exemption
38.Chief constables etc (England and Wales): exemption
39.Real estate investment trusts: UK REITs which invest in other UK REITs
40.Corporation tax relief for employee share acquisitions etc
41.Derivative contracts: property total return swaps etc
42.Corporation tax: tax mismatch schemes
43.Tier two capital
44.Financing costs and income: group treasury companies
45.Condition for company to be an “investment trust”
46.Community amateur sports clubs
CHAPTER 4 Pensions
47.Lifetime allowance charge: power to amend the transitional provision in Part 2 of Schedule 18 to FA 2011 etc
48.Lifetime allowance charge: new standard lifetime allowance for the tax year 2014-15 and subsequent tax years
49.Annual allowance: new annual allowance for the tax year 2014-15 and subsequent tax years
50.Drawdown pensions and dependants' drawdown pensions
51.Bridging pensions
52.Abolition of contracting out of state second pension: consequential amendments etc
53.Overseas pension schemes: general
54.Overseas pension schemes: information and inspection powers
55.Employee shareholder shares
56.SEIS: income tax relief
57.SEIS: re-investment relief
58.Disincorporation relief
59.Qualifying business transfer
60.Making a claim
61.Effect of disincorporation relief
62.Attribution of gains to members of non-resident companies
63.Heritage maintenance settlements
64.EMI options and entrepreneurs' relief etc
65.Charge on certain high value disposals by companies etc
66.Currency used in tax calculations: chargeable gains and losses
67.Allowances for energy-saving plant and machinery: Northern Ireland
68.Cars with low carbon dioxide emissions
69.Gas refuelling stations: extension of time limit for capital allowance
70.First-year allowance to be available for ships and railway assets
71.Restrictions on buying capital allowances
72.Hire cars for disabled persons
73.Contribution allowances: plant and machinery
74.Community investment tax relief
75.Lease premium relief
76.Manufactured payments: stock lending arrangements
77.Manufactured payments: general
78.Relationship between rules prohibiting and allowing deductions
79.Close companies
PART 2 Oil
80.Decommissioning relief agreements
81.Meaning of “decommissioning expenditure”
82.Annual report
83.Effect of claim on PRT
84.Terminal losses accruing by virtue of another's default
85.Claims under agreement not to affect oil allowance
Decommissioning security settlements
86.Removal of IHT charges in respect of decommissioning security settlements
87.Loan relationships arising from decommissioning security settlements
Decommissioning expenditure etc
88.Decommissioning expenditure taken into account for PRT purposes
89.Miscellaneous amendments relating to decommissioning
90.Expenditure on decommissioning onshore installations
91.Expenditure on decommissioning certain redundant plant or machinery
92.Expenditure on site restoration
93.Restrictions on allowances for certain oil-related expenditure
PART 3 Annual tax on enveloped dwellings
94.Charge to tax
95.Entitlement to interests
96.Person liable
97.Liability of persons jointly entitled
98.Collective investment schemes: liability for and collection of tax
99.Amount of tax chargeable
100.Interim relief
101.Indexation of annual chargeable amounts
102.Taxable value
103.Section 102: “substantial” acquisitions and disposals
104.No double charge
Adjustment of amount charged
105.“Adjusted chargeable amount”
106.Adjustment of amount chargeable
Chargeable interests and “single-dwelling interest”
107.Chargeable interests
108.Meaning of “single-dwelling interest”
109.Different interests held in the same dwelling
110.Interests held by connected persons
111.Different interests held in the same dwelling: effect of reliefs etc
112.Meaning of “dwelling”
113.Substantial performance of “off plan” purchase
114.Power to modify meaning of “use as a dwelling”
115.Parts of a greater whole
116.Dwelling in grounds of another dwelling
117.Dwellings in the same building
118.Section 117: supplementary
119.Terraces etc
120.Acquisitions and disposals of chargeable interests
121.Date of acquisition or disposal
122.Contract and conveyance: the purchaser
123.Contract and conveyance: the vendor
New dwellings, conversions, demolition etc
124.New dwellings
125.Dwellings produced from other dwellings
126.Demolition of a dwelling
127.Demolition without replacement
128.Demolition and replacement: new dwellings
129.Demolition and replacement: other cases
130.Conversion of dwelling for non-residential use
131.Damage to a dwelling
132.Effect of reliefs under sections 133 to 150
133.Property rental businesses
134.Rental property: preparation for sale, demolition etc
135.Non-qualifying occupation: look-forward and look-back
136.Meaning of “non-qualifying individual”
137.Dwellings opened to the public
138.Property developers
139.Property developers: exchange of dwellings
140.Property developers: supplementary
141.Property traders
142.Property traders: supplementary
143.Financial institutions acquiring dwellings in the course of lending
144.Section 143: supplementary
144A.Regulated home reversion plans
145.Occupation by employees or partners of a qualifying trade or property rental business
146.Meaning of “qualifying employee” and “qualifying partner” in section 145
147.Meaning of “10% or greater share in a company”
147A.Caretaker flat owned by management company
148.Farmhouses
149.“Farm worker” and “former long-serving farm worker”
150.Providers of social housing
151.Charitable companies
153.Public bodies
154.Bodies established for national purposes
155.Dwelling conditionally exempt from inheritance tax
Power to modify reliefs
156.Modification of reliefs
157.Land in England, Wales or Northern Ireland sold to financial institution and leased to person
157A.Land in Scotland sold to financial institution and leased to person
Administration and payment of tax
158.Responsibility for collection and management
159.Annual tax on enveloped dwellings return
159A.Relief declaration returns
160.Return of adjusted chargeable amount
161.Return to include self assessment
162.Returns, enquiries, assessments and other administrative matters
163.Payment of tax
164.Information and enforcement
165.Collection and recovery of tax etc
166.Companies
167.Partnerships
168.Miscellaneous amendments and transitory provision
169.Orders and regulations
170.Meaning of “chargeable day” and “within the charge”
171.References to the state of affairs “on” a day
172.Connected persons
173.Connected persons: cell companies
174.General interpretation of Part 3
PART 4 Excise duties and other taxes
175.Open- ended investment companies and authorised unit trusts
176.Treatment of liabilities for inheritance tax purposes
177.Election to be treated as domiciled in United Kingdom
178.Transfer to spouse or civil partner not domiciled in United Kingdom
179.Fuel duties: rates of duty and rebates from 1 April 2013
180.Rates of alcoholic liquor duties
181.Rates of tobacco products duty
182.Meaning of “tobacco products”
183.Rates of gaming duty
184.Combined bingo
185.Air passenger duty: rates of duty from 1 April 2013
186.Air passenger duty: miscellaneous provision
187.VED rates for light passenger vehicles, light goods vehicles, motorcycles etc
188.Not exhibiting licence: period of grace
189.Vehicles not kept or used on public road
190.Vehicle licences for disabled people
191.Repayments of value added tax to health service bodies
192.Valuation of certain supplies of fuel
193.Reduced rate for energy-saving materials
194.Pre-completion transactions: existing cases
195.Pre-completion transactions
196.Relief from higher rate
197.Leases
198.Standard rate of landfill tax
199.Climate change levy: main rates
200.Climate change levy: supplies subject to carbon price support rates etc
201.Contracts that are not taxable
202.Bank levy: rates from 1 January 2013
203.Bank levy: rates from 1 January 2014
204.No deductions for UK or foreign bank levies
205.High quality liquid assets
PART 5 General anti-abuse rule
206.General anti-abuse rule
207.Meaning of “tax arrangements” and “abusive”
208.Meaning of “tax advantage”
209.Counteracting the tax advantages
209A.Effect of adjustments specified in a provisional counteraction notice
209B.Notified adjustments: 12 month period for taking action if appeal made
209C.Notified adjustments: case within section 209B(4)(c)
209D.Notified adjustments: case within section 209B(4)(d)
209E.Notified adjustments: case within section 209B(4)(e)
209F.Appeals against provisional counteractions: further provision
210.Consequential relieving adjustments
211.Proceedings before a court or tribunal
212.Relationship between the GAAR and priority rules
212A.Penalty
213.Consequential amendment
214.Interpretation of Part 5
215.Commencement and transitional provision
216.Trusts with vulnerable beneficiary
217.Unauthorised unit trusts
218.Statutory residence test
219.Ordinary residence
220.Controlled foreign companies etc
221.Agreement between UK and Switzerland
222.International agreements to improve tax compliance
223.Disclosure of tax avoidance schemes
224.Powers under Proceeds of Crime Act 2002
225.Definition of “goods” for certain customs purposes
226.Power to detain goods
227.Penalty instead of forfeiture of larger ships
228.Data-gathering from merchant acquirers etc
229.Corporation tax: deferral of payment of exit charge
230.Penalties: late filing, late payment and errors
231.Overpayment relief: generally prevailing practice exclusion and EU law
232.Overpayment relief: time limit for claims
233.Self assessment: withdrawal of notice to file etc
234.Restrictions on interim payments in proceedings relating to taxation matters
235.Interpretation
236.Short title
Annual investment allowance: periods straddling 1 January 2013 or 1 January 2015
Chargeable periods which straddle 1 January 2013
Straddling period beginning before the relevant date
First straddling period beginning on or after the relevant date
Chargeable periods which straddle 1 January 2015
4.Annual investment allowance: periods straddling 1 January 2013 or 1 January 2015
5.(1) Paragraphs 1 to 3 also apply for the purpose...
PART 1 Retirement of participants
1.Part 7 of ITEPA 2003 (employment income: income and exemptions...
2.In section 498 (no charge on shares ceasing to be...
3.In Part 4 of Schedule 2 (types of shares that...
4.Part 11 of Schedule 2 (supplementary provisions) is amended as...
5.Omit paragraph 98 (meaning of “specified retirement age”).
6.In paragraph 100 (index of defined expressions) omit the entry...
7.Part 6 of Schedule 3 (requirements etc relating to share...
8.In paragraph 27 (introduction) in sub-paragraph (1)—
9.In paragraph 30 (time for exercising options) in sub-paragraph (2)(a)—...
10.Omit paragraph 31 (requirement to have a “specified age”).
11.Omit paragraph 33 (exercise of options: reaching specified age without...
12.In paragraph 34 (exercise of options: scheme-related employment ends) in...
13.In Part 9 of Schedule 3 (supplementary provisions) in paragraph...
14.In section 524 (no charge in respect of exercise of...
15.In Part 8 of Schedule 4 (supplementary provisions) omit paragraph...
16.The amendment made by paragraph 11 above has no effect...
17.(1) A SIP, SAYE option scheme or CSOP scheme approved...
PART 2 “Good leavers” (other than retirees)
18.Part 7 of ITEPA 2003 (employment income: income and exemptions...
19.In section 498 (no charge on shares ceasing to be...
20.(1) In Part 5 of Schedule 2 (free shares) in...
21.In section 519 (no charge in respect of exercise of...
22.Part 6 of Schedule 3 (requirements etc relating to share...
23.(1) Paragraph 34 (exercise of options: scheme-related employment ends) is...
24.(1) Paragraph 37 (exercise of options: company events) is amended...
25.(1) In Part 7 of Schedule 3 (exercise of share...
26.(1) Section 524 (no charge in respect of exercise of...
27.Part 5 of Schedule 4 (requirements etc relating to share...
28.In paragraph 21 (introduction) in sub-paragraph (2)—
29.After paragraph 25 insert— Exercise of options: company events (1) The scheme may provide that share options relating to...
30.(1) In Part 6 of Schedule 4 (exercise of share...
31.(1) In Part 6 of Schedule 5 (company reorganisations) in...
PART 3 Material interest rules
32.Part 7 of ITEPA 2003 (employment income: income and exemptions...
33.Part 3 of Schedule 2 (eligibility of individuals) is amended...
34.In paragraph 13 (introduction)— (a) after the entry for paragraph...
35.In paragraph 14 (time of eligibility to participate) in sub-paragraph...
36.Omit paragraphs 19 to 24 (the “no material interest” requirement)....
37.In Part 11 of Schedule 2 (supplementary provisions) in paragraph...
38.(1) The amendments made by paragraphs 33 to 37 above...
39.Part 3 of Schedule 3 (eligibility of individuals) is amended...
40.In paragraph 9 (introduction) omit the entry for paragraph 11...
41.Omit paragraphs 11 to 16 (the “no material interest” requirement)....
42.In Part 9 of Schedule 3 (supplementary provisions) in paragraph...
43.(1) The amendments made by paragraphs 39 to 42 above...
44.(1) In Part 3 of Schedule 4 (eligibility of individuals)...
PART 4 Restricted shares
45.Part 7 of ITEPA 2003 (employment income: income and exemptions...
46.Part 4 of Schedule 2 (types of shares that may...
47.In paragraph 25 (introduction) in sub-paragraph (1)—
48.Omit paragraphs 30 to 33 (only certain kinds of restrictions...
49.In Part 5 of Schedule 2 (free shares) in paragraph...
50.In Part 6 of Schedule 2 (partnership shares) in paragraph...
51.In Part 7 of Schedule 2 (matching shares) in paragraph...
52.In Part 9 of Schedule 2 (trustees) in paragraph 75...
53.(1) In Part 10 of Schedule 2 (approval of plans)...
54.Part 11 of Schedule 2 (supplementary provision) is amended as...
55.In paragraph 92 (determination of market value) for sub-paragraph (2)...
56.In paragraph 99 (minor definitions) after sub-paragraph (3) insert—
57.In paragraph 100 (index of defined expressions) at the appropriate...
58.(1) The amendments made by paragraphs 46 to 48 and...
59.Part 4 of Schedule 3 (shares to which schemes can...
60.In paragraph 17 (introduction) in sub-paragraph (1)—
61.Omit paragraph 21 (only certain kinds of restrictions allowed).
62.In Part 6 of Schedule 3 (requirements etc relating to...
63.In Part 7 of Schedule 3 (exchange of share options)...
64.Part 9 of Schedule 3 (supplementary provisions) is amended as...
65.In paragraph 48 (minor definitions) after sub-paragraph (2) insert—
66.In paragraph 49 (index of defined expressions) at the appropriate...
67.(1) The amendments made by paragraphs 59 to 62 above...
68.In Part 2 of Schedule 4 (general requirements for approval)...
69.Part 4 of Schedule 4 (shares to which schemes can...
70.In paragraph 15 (introduction)— (a) after the entry for paragraph...
71.Omit paragraph 19 (only certain kinds of restrictions allowed).
72.In Part 5 of Schedule 4 (requirements etc relating to...
73.In Part 6 of Schedule 4 (exchange of share options)...
74.Part 8 of Schedule 4 (supplementary provisions) is amended as...
75.In paragraph 36 (minor definitions) after sub-paragraph (2) insert—
76.In paragraph 37 (index of defined expressions) at the appropriate...
77.(1) The amendment made by paragraph 68 above has effect...
PART 5 Share incentive plans: partnership shares
78.Schedule 2 to ITEPA 2003 is amended as follows.
79.(1) In Part 6 (partnership shares) paragraph 52 (application of...
80.In Part 9 (trustees) in paragraph 75 (duty to give...
81.(1) The amendments made by paragraphs 79 and 80 above...
PART 6 Share incentive plans: dividend shares
82.Part 8 of Schedule 2 to ITEPA 2003 (cash dividends...
Company's power to direct reinvestment of cash dividends
83.(1) Paragraph 62 (reinvestment of dividends) is amended as follows....
84.In paragraph 68 (reinvestment: amounts to be carried forward) for...
85.In paragraph 69 (cash dividends with no requirement to reinvest)...
86.(1) A SIP approved before the day on which this...
Removal of limit on amount reinvested
87.In paragraph 63 (requirements to be met as regards cash...
88.Omit paragraph 64 (limit on amount reinvested).
89.(1) The amendments made by paragraphs 87 and 88 above...
Amounts to be carried forward
90.(1) Paragraph 68 (reinvestment: amounts to be carried forward) is...
PART 7 Share incentive plans: employee share ownership trusts
91.Part 9 of Schedule 2 to ITEPA 2003 (trustees) is...
92.In paragraph 70 (introduction) in sub-paragraph (2)—
93.(1) Omit paragraph 78 (acquisition of shares from employee share...
PART 8 Enterprise management incentives: consequences of disqualifying events
94.(1) In section 532 of ITEPA 2003 (modified tax consequences...
1.In Chapter 3 of Part 2 of ITA 2007 (calculation...
2.(1) ITA 2007 is amended as follows.
3.The amendments made by paragraphs 1 and 2 above have...
4.(1) Sub-paragraph (2) applies to a claim which relates to...
5.In section 24A(6)(d) of ITA 2007 (as inserted by paragraph...
1.Part 2 of ITTOIA 2005 (trading income) is amended as...
Eligibility to calculate profits on cash basis
2.Chapter 3 (trade profits: basic rules) is amended as follows....
3.In section 25(3) (exception to requirement to use generally accepted...
4.After section 25 insert— Cash basis for small businesses (1) A person who is or has been carrying on...
5.After Chapter 3 insert— CHAPTER 3A Trade profits: cash basis...
Rules restricting deductions
6.Chapter 4 (trade profits: rules restricting deductions) is amended as...
7.After section 32 insert— Cash basis accounting Application of Chapter...
8.After section 33 insert— Cash basis: capital expenditure (1) In calculating the profits of a trade on the...
9.In section 38 (restriction of deductions in respect of employee...
10.Before section 52 (and after the heading “Interest payments”) insert—...
11.(1) Section 55A (expenditure on integral features) is amended as...
12.Chapter 5 (trade profits: rules allowing deductions) is amended as...
13.After section 56 insert— Cash basis accounting Application of Chapter...
14.After section 57A insert— Cash basis: interest payments Cash basis:...
15.In section 58 (incidental costs of obtaining finance), in subsection...
16.In section 72 (payroll deduction schemes: contributions to agents' expenses),...
17.In section 94A (costs of setting up SAYE option scheme...
18.Chapter 6 (trade profits: receipts) is amended as follows.
19.After section 95 insert— Cash basis accounting Application of Chapter...
20.After section 96 insert— Cash basis: capital receipts (1) This section applies if— (a) the whole or part...
21.After section 97 insert— Cash basis: value of stock and...
22.(1) Section 105 (industrial development grants) is amended as follows....
Amounts not reflecting commercial transactions
23.After Chapter 6 insert— CHAPTER 6A Trade profits: amounts not...
24.In Chapter 8 (trade profits: herd basis rules), after section...
25.In Chapter 9 (trade profits: sound recordings), after section 130...
Telecommunication rights
26.In Chapter 10 (trade profits: certain telecommunication rights), before section...
27.In Chapter 10A (leases of plant or machinery: special rules...
28.In Chapter 11 (trade profits: other specific trades), before section...
29.In Chapter 11A (trade profits: changes in trading stock), after...
Unremittable amounts
30.In Chapter 13 (deductions from profits: unremittable amounts), after section...
31.In Chapter 14 (disposal and acquisition of know-how), before section...
32.In Chapter 16 (averaging profits of farmers and creative artists),...
Compensation for compulsory slaughter of animal
33.In Chapter 16ZA (compensation for compulsory slaughter of animal), after...
34.In Chapter 16A (oil activities), before section 225A (and the...
35.Chapter 17 (adjustment income) is amended as follows.
36.After section 227 insert— Application of Chapter where cash basis...
37.After section 239 insert— Spreading of adjustment income on leaving...
Adjustments for capital allowances
38.After Chapter 17 insert— CHAPTER 17A Cash basis: adjustments for...
39.(1) Chapter 18 (post-cessation receipts) is amended as follows.
40.In Chapter 1 of Part 7 of ITTOIA 2005 (rent-a-room...
41.Chapter 2 of Part 7 of ITTOIA 2005 (qualifying care...
42.In section 805 (meaning of “qualifying care receipts”), after subsection...
43.In section 820 (periods of account not ending on 5th...
44.In section 42 of TMA 1970 (procedure for making claims...
45.After section 47 of TCGA 1992 insert— Cash basis accounting...
46.In section 1 of CAA 2001 (capital allowances), after subsection...
47.In section 59 of CAA 2001 (unrelieved qualifying expenditure), after...
48.In Chapter 5 of Part 2 of CAA 2001 (plant...
49.In section 31 of ITTOIA 2005 (relationship between rules prohibiting...
50.In section 56 of ITTOIA 2005 (rules allowing deductions: professions...
51.Omit section 160 of ITTOIA 2005 (cash basis of calculation...
52.(1) Chapter 17 of Part 2 of ITTOIA 2005 (adjustment...
53.In Part 2 of Schedule 4 to ITTOIA 2005 (index...
54.(1) In Part 4 of ITA 2007 (loss relief), Chapter...
55.(1) Chapter 1 of Part 8 of ITA 2007 (relief...
56.Subject to paragraph 57, the amendments made by this Schedule...
57.(1) In a case where— (a) the profits of a...
2.After Chapter 5 insert— CHAPTER 5A Trade profits: deductions allowable...
3.In section 31 (relationship between rules prohibiting and allowing deductions),...
4.In Chapter 18 (post-cessation receipts), in section 254 (allowable deductions),...
5.(1) Part 2 of CAA 2001 (plant and machinery allowances)...
6.The amendments made by this Schedule have effect for the...
Employment income: duties performed in the UK and overseas
PART 1 Apportionment of earnings
1.Part 2 of ITEPA 2003 (employment income: charge to tax)...
2.In section 15 (earnings for year when employee UK resident),...
3.In Chapter 5 (taxable earnings: remittance basis rules and rules...
PART 2 Remittance basis of taxation: special mixed fund rules
4.Chapter A1 of Part 14 of ITA 2007 (remittance basis)...
5.In section 809Q (sections 809L and 809P: transfers from mixed...
6.After section 809R insert— Special mixed fund rules for certain...
7.The amendments made by Part 1 of this Schedule have...
8.The amendments made by Part 2 of this Schedule have...
1.Chapter A1 of Part 14 of ITA 2007 (remittance basis)...
2.In section 809X(3) (exempt property: public access rule), for “sections...
3.(1) Section 809Y (property that ceases to be exempt property...
4.After section 809YE insert— Exception to section 809Y: compensation taken...
5.(1) Section 809Z (public access rule: general) is amended as...
6.Omit section 809Z1 (public access rule: relevant VAT relief).
7.(1) Section 809Z4 (temporary importation rule) is amended as follows....
8.In section 809Z6 (exempt property: other interpretation), after subsection (4)...
9.The amendments made by paragraphs 3, 4, 5(4), 7(2), (3)(b)...
10.The other amendments made by this Schedule have effect—
11.In the case of property that falls within paragraph 10(b)...
1.Chapter 9 of Part 4 of ITTOIA 2005 (gains from...
2.In section 476 (special rules: foreign policies) in subsection (2)—...
3.For section 528 substitute— Reduction in amount charged on basis...
4.Omit section 529 (exceptions to section 528).
5.(1) Section 536 (top slicing relieved liability: one chargeable event)...
6.In section 552 of ICTA (information: duty of insurers) after...
PART 1 Amendments of Schedule 15 to ICTA etc
1.Schedule 15 to ICTA (qualifying insurance policies) is amended as...
2.Before Part 1 insert— PART A1 Premium limit for qualifying...
3.At the beginning of Part 1 (qualifying conditions) insert— RULES...
4.(1) Paragraph 17 (substitutions) is amended as follows.
5.In paragraph 25 (application of paragraph 17 in cases involving...
6.(1) In section 55 of FA 1995 (qualifying life insurance...
PART 2 Restricted relief qualifying policies
7.Chapter 9 of Part 4 of ITTOIA 2005 (gains from...
8.After section 463 insert— Restricted relief qualifying policies: disapplication of...
9.In section 485 (disregard of certain events in relation to...
PART 3 Information powers
10.After section 552ZA of ICTA insert— Regulations in relation to...
11.In section 552B of ICTA (duties of overseas insurers' tax...
12.In section 98 of TMA 1970 (special returns etc), in...
1.Chapter 2 of Part 13 of ITA 2007 (tax avoidance:...
PART 2 New exemption for genuine transactions etc
2.(1) Section 718 (meaning of “person abroad” etc) is amended...
3.In section 720 (charge to tax on income treated as...
4.In section 727 (charge to tax on income treated as...
5.In section 731 (charge to tax on income treated as...
6.(1) Section 736 (exemptions: introduction) is amended as follows.
7.After section 742 insert— Post-5 April 2012 transactions: exemption for...
8.In section 751 (the Tribunal's jurisdiction on appeals) after paragraph...
9.(1) The amendments made by paragraph 2 above have effect...
PART 3 Amendments relating to the charges under sections 720 and 727
10.(1) Section 721 (individuals with power to enjoy income as...
11.(1) Section 724 (special rules where benefit provided out of...
12.(1) Section 725 (reduction in amount charged where controlled foreign...
13.In section 726 (non-UK domiciled individuals to whom remittance basis...
14.(1) Section 728 (individuals receiving capital sums as a result...
15.In section 730 (non-UK domiciled individuals to whom remittance basis...
16.(1) Section 743 (no duplication of charges) is amended as...
17.(1) Section 744 (meaning of taking income into account in...
18.(1) Section 745 (rates of tax applicable to income charged...
19.In section 746 (deductions and reliefs where individual charged under...
20.(1) The amendments made by this Part of this Schedule...
21.(1) Sections 721(3C) and 728(2A) of ITA 2007 (as inserted...
Deduction of income tax at source etc
Deduction from interest payable on compensation
1.Chapter 3 of Part 15 of ITA 2007 (deduction from...
2.In section 874 (duty to deduct from certain payments of...
3.In section 875 (interest paid by building societies), at the...
4.In section 878 (interest paid by banks), after subsection (1)...
Deduction from yearly interest: specialties
5.In section 874 of ITA 2007 (duty to deduct from...
Payment of interest in kind
6.After section 370 of ITTOIA 2005 insert— Valuation of interest...
7.In section 380 of that Act (funding bonds), in subsection...
8.In section 939 of ITA 2007 (duty to retain bonds...
9.In section 975 of that Act (statements about deduction of...
10.After section 975 of that Act insert— Statements about certain...
11.In section 413 of CTA 2009 (issue of funding bonds),...
12.(1) The amendments made by paragraphs 1 to 4 have...
Key amendments to Part 4 of ITTOIA 2005
1.Part 4 of ITTOIA 2005 (savings and investment income) is...
2.In section 365(1) (overview of Part 4)—
3.After Chapter 2 insert— CHAPTER 2A Disguised interest Charge to...
4.The following amendments are in consequence of the amendments made...
5.TCGA 1992 is amended as follows.
6.In section 37 (consideration chargeable to tax on income), after...
7.In section 39 (exclusion of expenditure by reference to tax...
8.Omit sections 148A to 148C (provision dealing with the capital...
9.(1) Section 263A (agreements for sale and repurchase of securities)...
10.After section 263A insert— Section 263A: interpretation (1) Subsections (2) to (7) apply for the purposes of...
11.(1) Section 263F (power to modify repo provisions: non-standard repo...
12.In section 263G (power to modify repo provisions: redemption arrangements)—...
13.(1) ITTOIA 2005 is amended as follows.
14.In Schedule 14 of FA 2007 (sale and repurchase of...
15.(1) ITA 2007 is amended as follows.
16.In Schedule 1 of CTA 2010 (minor and consequential amendments),...
17.In Schedule 6 of FA 2010 (charities etc), omit paragraph...
18.(1) Subject to sub-paragraph (2), the amendments made by this...
Change in ownership of shell company: restriction of relief
Amendments of Part 14 of CTA 2010
1.(1) Part 14 of CTA 2010 (change in company ownership)...
2.In Schedule 4 to that Act (index of defined expressions)...
3.The amendments made by this Schedule have effect in relation...
New Part 14A of CTA 2010
1.After Part 14 of CTA 2010 insert— PART 14A Transfer...
2.(1) In section 1(4) of CTA 2010 (overview of Act),...
3.(1) The amendments made by this Schedule have effect in...
1.In Part 3 of CTA 2009 (trading income), after Chapter...
2.(1) Part 13 of CTA 2009 (additional relief for expenditure...
3.In Schedule 4 to CTA 2009 (index of defined expressions),...
4.Schedule 18 to FA 1998 (company tax returns, assessments and...
5.In paragraph 10(2) (other claims and elections to be included...
6.(1) Paragraph 52 (recovery of excessive repayments etc) is amended...
7.(1) Part 9A (claims for R&D tax relief) is amended...
9.Part 8A of CTA 2010 (profits arising from the exploitation...
10.In section 357CG (adjustments in calculating profits of trade), in...
11.In section 357CK (deductions that are not routine deductions), in...
PART 3 Abolition of certain relief under Part 13 of CTA 2009
Amendments of Part 13 of CTA 2009
12.Part 13 of CTA 2009 (additional relief for expenditure on...
13.(1) Section 1039 (overview of Part) is amended as follows....
14.Omit Chapter 3 (relief for SMEs: R&D sub-contracted to SME)....
15.Omit Chapter 4 (relief for SMEs: subsidised and capped expenditure...
16.Omit Chapter 5 (relief for large companies).
17.(1) Section 1081 (insurance companies treated as large companies) is...
18.Omit section 1082 (R&D expenditure of group companies).
19.Omit section 1083 (refunds of expenditure treated as income chargeable...
20.(1) Section 1084 (artificially inflated claims for relief or tax...
21.In section 1119 (meaning of “small or medium-sized enterprise”), in...
22.In section 1133 (meaning of “sub-contractor” etc), in subsection (3),...
23.In Schedule 4 to CTA 2009 (index of defined expressions),...
24.(1) CTA 2010 is amended as follows.
25.In section 13 of F(No.3)A 2010, omit subsections (4) and...
26.(1) FA 2012 is amended as follows.
27.The amendments made by Parts 1 and 2 of this...
28.Subject to paragraph 29, the amendments made by Part 3...
29.(1) If a company claims an R&D expenditure credit under...
Tax relief for television production
1.After Part 15 of CTA 2009 insert— PART 15A Television...
2.(1) Any power conferred on the Secretary of State or...
1.After Part 15A of CTA 2009 (inserted by Schedule 16...
4.(1) The Treasury may by order make such amendments of...
Television and video games tax relief: consequential amendments
1.(1) Section 826 of ICTA (interest on tax overpaid) is...
2.Schedule 18 to FA 1998 (company tax returns, assessments and...
3.(1) Paragraph 10 (other claims and elections to be included...
4.(1) Paragraph 52 (recovery of excessive overpayments etc) is amended...
5.(1) Part 9D (claims for film tax relief) is amended...
6.In Schedule A1 to CAA 2001 (first-year tax credits), in...
7.In Schedule 24 to FA 2007 (penalties for errors), in...
8.In Chapter 6A of Part 3 of CTA 2009 (trade...
10.In Part 13 of CTA 2009 (additional relief for expenditure...
11.Part 15 of CTA 2009 (film tax relief) is amended...
12.In section 1195 (availability and overview of film tax relief),...
13.(1) Section 1206 (confidentiality of information) is amended as follows....
14.(1) In section 1310 of CTA 2009 (orders and regulations),...
15.(1) Schedule 4 to CTA 2009 (index of defined expressions)...
16.In Schedule 54A to FA 2009 (further provision as to...
17.Part 8A of CTA 2010 (profits arising from the exploitation...
18.(1) Section 357CG (adjustments in calculating profits of trade) is...
19.After section 357CH insert— Shortfall in qualifying expenditure (1) There is a shortfall in qualifying expenditure in relation...
20.(1) Section 357CK (deductions that are not routine deductions) is...
Consequential renumbering
21.(1) Sections 1217 and 1218 of CTA 2009 are renumbered...
22.(1) The amendments made by this Schedule come into force...
23.(1) The amendments made by this Schedule have effect in...
1.Part 12 of CTA 2010 (real estate investment trusts) is...
2.(1) Section 530 (condition as to distribution of profits) is...
3.(1) Section 530A (condition as to distribution of profits: increase...
4.(1) Section 531 (conditions as to balance of business) is...
5.(1) Section 548 (distributions: liability to tax) is amended as...
6.(1) Section 549 (distributions: supplementary) is amended as follows.
7.After section 549 insert— Distributions from one UK REIT to...
8.In section 550 (attribution of distributions) in subsection (2)—
9.In section 588 (joint ventures: effect of notice under section...
10.In section 589 (joint ventures: effect of notice under section...
11.In section 605 (property rental business: exclusion of business producing...
12.In Chapter 18 of Part 15 of ITA 2007 (deduction...
13.(1) The amendments made by paragraph 4(3) to (5) above...
1.CTA 2010 is amended in accordance with paragraphs 2 to...
2.In section 1(4) (overview of Act), after paragraph (j) insert—...
3.After Part 21B insert— PART 21BA Tax mismatch schemes Losses...
4.In Schedule 4 (index of defined expressions), at the appropriate...
5.In section 231(8) of TIOPA 2010 (tax arbitrage: overview), for...
6.(1) The amendments made by this Schedule have effect in...
1.Chapter 9 of Part 13 of CTA 2010 (community amateur...
2.(1) Section 659 (meaning of “open to the whole community”)...
Meaning of “organised on an amateur basis”
3.(1) Section 660 (meaning of “organised on an amateur basis”)...
Clubs consisting mainly of social members
4.In section 658 (meaning of “community amateur sports club”), in...
5.After section 660 insert— Clubs consisting mainly of social members...
6.In section 662 (exemption from corporation tax for UK trading...
7.In section 663 (exemption from corporation tax for UK property...
Power to specify income condition
8.(1) The Treasury may by regulations provide that a club...
9.(1) Any power conferred on the Treasury under or by...
10.(1) In a case where a club that was registered...
Transitional provision relating to reduction in standard lifetime allowance etc
PART 1 “Fixed protection 2014”
1.(1) This paragraph applies on or after 6 April 2014...
2.(1) The Commissioners for Her Majesty's Revenue and Customs may...
3.(1) The Commissioners for Her Majesty's Revenue and Customs may...
4.(1) Regulations under paragraph 2 or 3 may include supplementary...
5.Part 4 of FA 2004 (pension schemes) is amended as...
6.(1) Section 218 (standard lifetime allowance etc) is amended as...
7.(1) In section 219 (availability of individual's lifetime allowance) after...
8.(1) Part 1 of Schedule 29 (authorised lump sums: lump...
PART 1 Income tax treatment of employee shareholder shares
1.ITEPA 2003 is amended in accordance with paragraphs 2 to...
2.In section 19(2) (time of receipt of non-money earnings), at...
3.In Chapter 12 of Part 3, after section 226 insert—...
4.In consequence of the amendment made by paragraph 3—
5.In section 428 (restricted securities: amount of charge on occurrence...
6.In section 431 (election for full or partial disapplication of...
7.In section 437 (convertible securities: adjustment of charge), in subsection...
8.In section 446B (charge on acquisition of securities with artificially...
9.In section 446T (securities acquired for less than market value:...
10.In section 446V (Chapter 3C to be additional to other...
11.In section 452 (shares in research institution spin-out companies: market...
12.In section 479 (securities options: amount of gain realised on...
13.In section 531 (enterprise management incentives: limitation of charge where...
14.(1) Section 532 (enterprise management incentives: consequences after disqualifying events)...
15.In section 554N (exclusions: other cases involving employment-related securities etc),...
16.In Chapter 3 of Part 4 of ITTOIA 2005 (tax...
PART 2 Capital gains tax exemption for employee shareholder shares
17.TCGA 1992 is amended as follows.
18.In section 58(2) (spouses and civil partners: disposals excepted from...
19.(1) Section 149AA (restricted and convertible employment-related securities) is amended...
20.After section 236A insert— Employee shareholders Exemption for employee shareholder...
21.CTA 2009 is amended as follows.
22.In section 1005 (definitions), at the appropriate place insert— “employee...
23.(1) Section 1009 (relief for employee share acquisitions: employee's tax...
24.In section 1010(1) (acquisition of shares: relief if shares neither...
25.(1) Section 1011 (acquisition of shares: relief if shares are...
26.In section 1018(1) (acquisition of shares pursuant to option: relief...
27.In section 1019(1) (acquisition of shares pursuant to option: relief...
28.In section 1022 (takeover of company whose shares are subject...
29.In section 1026 (restricted shares: relief available on chargeable event),...
30.In section 1027 (restricted shares: relief available on death of...
31.In section 1033 (convertible securities: relief available on chargeable event),...
32.In section 1034 (convertible securities: relief available following death of...
33.(1) At the end of Chapter 6 of Part 12...
34.In section 1292 (provision of qualifying benefits), after subsection (6)...
35.In section 1293 (timing and amount of certain qualifying benefits),...
36.In Schedule 4 (index of definitions), at the appropriate place...
PART 4 Employment income exemption
37.In Chapter 11 of Part 4 of ITEPA (employment income:...
38.The amendments made by this Schedule come into force in...
EMI options and entrepreneurs' relief etc
Entrepreneurs' relief to apply to shares acquired under EMI option
1.(1) In Chapter 3 of Part 5 of TCGA 1992...
Identification of shares acquired under EMI option
2.Chapter 1 of Part 4 of TCGA 1992 (general provision...
3.In section 105 (disposal on or before day of acquisition...
4.(1) Section 106A (identification of securities for capital gains tax...
5.(1) The amendments made by paragraphs 1 to 4 above...
6.(1) This paragraph applies if, during the tax year 2012-13,...
Charge on certain high value disposals by companies etc
PART 1 Taxation of Chargeable Gains Act 1992
2.(1) Section 1 (the charge to tax) is amended as...
3.In section 2 (persons and gains chargeable to capital gains...
4.After section 2 insert— Persons chargeable to capital gains tax...
5.In section 4 (rates of capital gains tax), after subsection...
6.In section 8 (company's total profits to include chargeable gains),...
7.In section 13 (attribution of gains to members of non-resident...
8.In section 16 (computation of losses), in subsection (3) after...
9.In Part 2, after Chapter 4 insert— CHAPTER 5 Computation...
10.After section 100 insert— Exemption for certain EEA UCITS (1) ATED-related gains accruing on relevant high value disposals made...
11.(1) Section 161 (appropriations to and from stock) is amended...
12.In section 171 (transfers within a group: general provisions), in...
13.After section 187 insert— Deemed disposal under section 185: ATED-related...
14.In section 271 (miscellaneous exemptions)— (a) in subsection (1A), after...
15.In section 288 (interpretation), in subsection (1), at the appropriate...
16.After Schedule 4 insert— SCHEDULE 4ZZA relevant high value disposals:...
17.In Schedule 7A (restriction on set-off of pre-entry losses), after...
18.In section 2 of CTA 2009 (charge to corporation tax),...
19.Charge on certain high value disposals by companies
20.The amendments made by this Schedule have effect in relation...
1.Chapter 16A of Part 2 of CAA 2001 (avoidance involving...
Restrictions where certain conditions met
2.(1) Section 212B (circumstances where Chapter 16A applies) is amended...
3.After section 212L insert— Limiting conditions Limiting conditions (1) The qualifying change meets one of the limiting conditions...
4.In consequence of the amendments made by paragraphs 2 and...
5.(1) Section 212B (circumstances where Chapter 16A applies) is amended...
6.(1) Section 212C (when there is a a qualifying change...
7.(1) Section 212I (relevant percentage share) is amended as follows....
8.In section 212J(1) (relevant excess of allowances) for “trade” substitute...
9.In section 212K(2), (3), (4) and (5) (relevant tax written-down...
10.In section 212N(2), (3) and (4) (old and new accounting...
11.(1) Section 212P (effect of excess on pools) is amended...
12.(1) Section 212Q (when there are postponed capital allowances) is...
1.Part 7 of ITA 2007 (community investment tax relief) is...
2.In section 335 (form and amount of CITR) in subsection...
3.After section 335 insert— Carry forward of CITR (1) This section applies if— (a) the investor is entitled...
4.In section 357 (attribution of CITR) after subsection (4) insert—...
5.(1) Section 361 (disposal of securities or shares during 5...
6.The amendments made by paragraphs 1 to 5 above have...
Corporation tax: carry forward of relief
7.Part 7 of CTA 2010 (community investment tax relief) is...
8.(1) Section 220 (form and amount of CITR) is amended...
9.After section 220 insert— Carry forward of CITR (1) This section applies if— (a) the investor is entitled...
10.In section 240 (attribution of CITR) after subsection (4) insert—...
11.(1) Section 244 (disposal of securities or shares during 5...
12.The amendments made by paragraphs 7 to 11 above have...
Corporation tax: limit on State aid
13.(1) In Part 7 of CTA 2010 (community investment tax...
2.In section 61 (tenants occupying land for purposes of trade...
3.In section 292 (tenants under taxed leases treated as incurring...
4.The amendments made by paragraphs 2 and 3 above have...
5.CTA 2009 is amended as follows.
6.In section 63 (tenants occupying land for purposes of trade...
7.In section 232 (tenants under taxed leases treated as incurring...
8.The amendments made by paragraphs 6 and 7 above have...
1.Before Part 11A of ITA 2007 insert— PART 11ZA Manufactured...
2.Before Part 18 of CTA 2010 insert— PART 17A Manufactured...
PART 3 Consequential etc amendments
3.The following amendments are in consequence of, or otherwise connected...
4.TCGA 1992 is amended as follows.
5.In section 263B (stock lending arrangements), for subsection (7) substitute—...
6.Omit section 263D (gains accruing to persons paying manufactured dividends)....
7.In section 263F (power to modify repo provisions: non-standard repo...
8.In section 263G (power to modify repo provisions: redemption arrangements)—...
9.In section 263H (sections 263F and 263G: supplementary provisions), in...
10.(1) Section 263I (powers about manufactured overseas dividend) is amended...
11.In Schedule 24 to FA 2004 (manufactured dividends), omit paragraph...
13.In section 397(6) (list of provisions to which the section...
14.In section 397A (tax credit for distributions of non-UK resident...
15.Omit section 397B (tax credits under section 397A: manufactured overseas...
16.ITA 2007 is amended as follows.
17.In section 2 (overview of Act)— (a) omit subsection (11),...
18.Omit the following provisions (which deal with manufactured payments and...
19.In section 647 (makers of manufactured payments), for subsection (6)...
20.In section 658 (powers to modify: supplementary), for subsection (5)...
21.In section 918(1) (manufactured dividends on UK shares: REITs), for...
22.In section 919 (manufactured interest on UK securities)—
23.Omit section 920 (foreign payers of manufactured interest: the reverse...
24.In section 921 (cases where interest on underlying securities paid...
25.Omit sections 922 to 925 (manufactured overseas dividends).
26.In section 925A(2) (creditor repos), for “to 925” substitute “...
27.Omit section 925B (debtor repos).
28.In section 925C (actual payments ignored)— (a) in the heading,...
29.In section 926 (interpretation of Chapter 9 of Part 15),...
30.In Schedule 1 (minor and consequential amendments), omit paragraph 335(1)...
31.In Schedule 2 (transitionals and savings), omit paragraphs 108 to...
32.In Schedule 4 (index of defined expressions), omit the entries...
33.(1) FA 2008 is amended as follows.
34.CTA 2009 is amended as follows.
35.In section 539 (introduction to Chapter about manufactured interest), omit...
36.In section 540(3) (manufactured interest treated as interest under loan...
37.In section 550 (which makes provision about the effect of...
38.In section 1221(1) (amounts treated as expenses of management), for...
39.In section 1248 (expenses in connection with arrangements for securing...
40.In Schedule 19 to FA 2009 (income tax credits for...
41.CTA 2010 is amended as follows.
42.In section 1 (overview of Act), in subsection (4)—
43.Omit Part 17 (manufactured payments and repos).
44.(1) Section 1109(5) (provisions to which section 1109 is subject)...
45.In Schedule 1 (minor and consequential amendments), omit paragraphs 259,...
46.In Schedule 2 (transitionals and savings), omit Part 17 (manufactured...
47.In Schedule 4 (index of defined expressions), omit the entries...
48.(1) TIOPA 2010 is amended as follows.
49.In Schedule 13 to FA 2011 (profits of foreign permanent...
50.(1) FA 2012 is amended as follows.
51.The amendments made by Parts 1 and 2 of this...
52.The amendments made by Part 3 of this Schedule come...
PART 1 Amendments of Part 10 of CTA 2010
1.Part 10 of CTA 2010 (close companies) is amended as...
2.(1) In section 438 (overview), after subsection (2) insert—
3.(1) In section 455 (charge to tax in case of...
4.(1) In section 459(2) (application of other provisions where loan...
5.(1) After Chapter 3 insert— CHAPTER 3A Charge to tax:...
6.(1) After Chapter 3A insert— CHAPTER 3B Repayments and return...
7.In section 465 (power to obtain information), after “Chapter 3”...
8.TMA 1970 is amended as follows.
9.In section 59E(11)(a) (provision as to when tax is due...
10.In section 59F(6)(a) (arrangements for paying tax on behalf of...
11.(1) Section 109 (corporation tax on close company in connection...
12.The amendments made by paragraphs 9 to 11 are treated...
13.(1) Schedule 18 to FA 1998 (company tax returns, assessments...
14.(1) In section 417 of ITTOIA 2005 (person liable for...
Miscellaneous amendments relating to decommissioning
PART 1 Abandonment guarantees and abandonment expenditure
1.(1) In Part 2 of ITTOIA 2005 (trading income), Chapter...
2.(1) In Part 8 of CTA 2010 (oil activities), Chapter...
3.In Schedule 3 to OTA 1975 (petroleum revenue tax: miscellaneous...
4.In Schedule 5 to OTA 1975 (allowance of expenditure), in...
5.(1) Part 3 of FA 1991 (oil taxation) is amended...
6.(1) In Part 2 of ITTOIA 2005 (trading income), Chapter...
7.(1) In Part 8 of CTA 2010 (oil activities), Chapter...
8.In Part 3 of FA 1991, omit section 108 (reimbursement...
9.In Part 2 of ITTOIA 2005, omit section 225T (reimbursement...
10.In Part 8 of CTA 2010, omit section 298 (reimbursement...
11.(1) Section 104 of FA 1991 is amended as follows....
12.In FA 2008, omit section 105.
13.In Part 2 of ITTOIA 2005, Chapter 16A is amended...
14.(1) Section 225N is amended as follows.
15.Omit sections 225P and 225Q.
16.In section 225R (introduction to sections 225S and 225T)—
17.In Part 8 of CTA 2010, Chapter 4 is amended...
18.(1) Section 292 is amended as follows.
19.Omit sections 294 and 295.
20.In section 296 (introduction to sections 297 and 298)—
PART 2 Receipts arising from decommissioning
Calculation of profits chargeable to corporation tax and supplementary charge
21.In Chapter 4 of Part 8 of CTA 2010 (oil...
Calculation of profits chargeable to income tax
22.In Chapter 16A of Part 2 of ITTOIA 2005 (trading...
23.The amendments made by this Schedule have effect in relation...
Restrictions on allowances for certain oil-related expenditure
PART 1 Decommissioning expenditure
2.After section 165 insert— Restrictions on allowances: anti-avoidance Decommissioning services...
3.In section 26(5), at the end insert “ and sections...
4.In section 57(3), after the reference to section 70DA insert—...
5.In section 161C(3), for “and 164(4)” substitute “ , 164(4)...
6.In section 164(5A), at the end insert “ and sections...
7.After section 165(3) insert— (3A) Subsection (3) is subject to...
8.The amendments made by this Part have effect in relation...
PART 2 Expenditure on site restoration
9.After section 416ZB of CAA 2001 (inserted by section 92)...
10.In section 395(3) of that Act (provisions limiting “qualifying expenditure”)...
11.The amendments made by this Part have effect in relation...
PART 3 Amendments of TIOPA 2010
12.Part 4 of TIOPA 2010 (transfer pricing) is amended as...
13.In section 147(6) (list of exceptions to the basic rule...
14.After section 206 insert— Modification of basic rule where allowances...
15.In section 213 (effect of Part 4 on capital allowances),...
16.The amendments made by this Part have effect for accounting...
Annual tax on enveloped dwellings: returns, enquiries, assessments and appeals
PART 1 Returns
1.(1) The Commissioners for Her Majesty's Revenue and Customs may...
2.In this Part of this Act— (a) references to the...
Amendment of return by chargeable person
3.(1) A person who has delivered a return may amend...
Correction of return by HMRC
4.(1) An officer of Revenue and Customs may correct any...
PART 2 Duty to keep and preserve records
5.(1) A person who is required to deliver a return...
Preservation of information etc
6.The duty under paragraph 5 to preserve records may be...
7.(1) A person who fails to comply with paragraph 5...
PART 3 Enquiry into return
8.(1) An officer of Revenue and Customs may enquire into...
9.(1) An enquiry extends to anything contained in the return,...
Amendment of self assessment during enquiry to prevent loss of tax
10.(1) If at a time when an enquiry is in...
Referral of questions to tribunal during enquiry
11.(1) At any time when an enquiry is in progress...
12.An officer of Revenue and Customs or the relevant person...
13.(1) While proceedings on a referral under paragraph 11 are...
14.(1) A determination under paragraph 11 is binding on the...
Tribunal to which referrals are made
15.(1) Where the question to be referred under paragraph 11...
16.(1) An enquiry under paragraph 8 is completed when an...
17.(1) The relevant person may apply to the tribunal for...
PART 4 HMRC determination where no return delivered
18.(1) This paragraph applies where condition A or condition B...
Determination to have effect as a self assessment
19.(1) A determination under paragraph 18 has effect for enforcement...
Determination superseded by actual self assessment
20.(1) If after an HMRC determination has been made P...
PART 5 HMRC assessments
21.(1) Sub-paragraph (2) applies if an officer of Revenue and...
22.(1) If an amount of tax has been, but ought...
References to “the taxpayer”
23.In paragraphs 24 to 27 “taxpayer” means—
Conditions for making assessment where return has been delivered
24.(1) If the taxpayer has delivered a return in respect...
25.(1) The general rule is that no assessment may be...
26.(1) This paragraph applies for the purposes of paragraphs 24...
27.(1) Notice of an assessment must be served on the...
PART 6 Relief in case of overpaid tax or excessive assessment
Relief in case of double assessment
28.(1) A person who believes that tax has been assessed...
Claim for relief for overpaid tax etc
29.(1) This paragraph applies where— (a) a person has paid...
Cases in which Commissioners are not liable to give effect to a claim
30.(1) The Commissioners for Her Majesty's Revenue and Customs are...
31.(1) A claim under paragraph 29 must be made within...
The claimant: partnerships
32.(1) This paragraph is about the application of paragraph 29...
Assessment of claimant in connection with claim
33.(1) This paragraph applies where— (a) a claim is made...
34.(1) In paragraph 29(1)(a) the reference to an amount paid...
35.(1) An appeal may be brought against—
36.(1) Notice of an appeal under paragraph 35 must be...
37.(1) This paragraph applies in a case where—
Steps that may be taken following notice of appeal
38.(1) This paragraph applies if notice of appeal has been...
Right of appellant to require review
39.(1) If the appellant notifies HMRC that it requires them...
Offer of review by HMRC
40.(1) Sub-paragraphs (2) to (5) apply if HMRC notify the...
41.(1) This paragraph applies if HMRC are required by paragraph...
Effect of conclusions of review
42.(1) If HMRC give notice of the conclusions of a...
Notifying appeal to tribunal after appellant has required review
43.(1) Where HMRC have notified an appellant under paragraph 39(1)(a)...
Notifying appeal to tribunal after HMRC have offered review
44.(1) Where HMRC have offered to review the matter to...
Interpretation of paragraphs 38 to 44
45.(1) In paragraphs 38 to 44— (a) “matter in question”...
46.(1) In relation to an appeal of which notice has...
Appeal does not postpone recovery of tax
47.(1) Where there is an appeal under paragraph 35, the...
Application for payment of tax to be postponed
48.(1) If the appellant has grounds for believing that the...
Agreement to postpone payment of tax
49.(1) If the appellant and an officer of Revenue and...
Assessments and self assessments
50.(1) This paragraph applies where an appeal under paragraph 35(1)...
51.The determination of the tribunal in relation to any proceedings...
Payment of tax where appeal has been determined
52.(1) On the determination of an appeal under paragraph 35...
53.(1) Where a party to an appeal to the tribunal...
References to “the tribunal”
54.(1) In this Part of this Schedule “the tribunal” means—...
Application of Schedule in cases involving joint liability to tax
55.(1) This paragraph applies where— (a) section 97(2) applies and...
56.In relation to a return delivered by the responsible partners...
Meaning of “return”
57.In this Schedule “return”, except where the contrary is indicated,...
Meaning of “filing date”
58.“Filing date”, in relation to a return, means the day...
Annual tax on enveloped dwellings: information and enforcement
PART 1 Information and inspection powers
2.In paragraph 12A (powers to inspect property for valuation etc),...
3.After paragraph 21A insert— Annual tax on enveloped dwellings: taxpayer...
4.In paragraph 37 (partnerships), after sub-paragraph (2A) insert—
5.In paragraph 63(1) (meaning of “tax” in the Schedule), after...
6.In Schedule 24 to FA 2007 (penalties for errors), in...
7.(1) In Schedule 55 to FA 2009 (penalty for failure...
8.Paragraphs 9 to 12 contain amendments and modifications of Schedule...
9.(1) The Table in paragraph 1 of that Schedule is...
10.(1) Until paragraphs 2(13)(a) and 2(14)(a) of Schedule 11 to...
11.Until paragraph 3 of Schedule 11 to F(No. 3)A 2010...
12.Schedule 56 to FA 2009, as amended by paragraph 9,...
Annual tax on enveloped dwellings: miscellaneous amendments and transitory provision
PART 1 Miscellaneous amendments
1.In section 1(1) of the Provisional Collection of Taxes Act...
2.In section 318(1) of FA 2004 (disclosure of tax avoidance...
Definitions relating to charities
3.In paragraph 7 of Schedule 6 to FA 2010 (definition...
PART 2 Transitory provision: the first chargeable period
4.In relation to the chargeable period beginning on 1 April...
5.In relation to the chargeable period beginning on 1 April...
2.(1) Section 162 (liabilities) is amended as follows.
3.After section 162 insert— Liabilities attributable to financing excluded property...
4.After section 175 (estate on death: liability to make future...
5.(1) Subject to sub-paragraph (2), the amendments made by this...
Vehicle licences for disabled people
2.(1) Section 19 (rebates) is amended as follows.
3.(1) Section 22ZA (nil licences for vehicles for disabled persons:...
4.In section 62(1) (definitions), at the appropriate places insert— “armed...
5.In Schedule 1 (annual rates of duty), in Part 1...
6.(1) In Schedule 2 (exempt vehicles), paragraph 19 is amended...
7.The amendments made by this Schedule are treated as having...
Valuation of certain supplies of fuel
Valuation of supplies for private use
2.In Schedule 6 (valuation: special cases), before paragraph 1 insert—...
3.In paragraph 6 of that Schedule (valuation of supplies of...
4.Omit sections 56 and 57 (fuel for private use).
5.In section 97(4) (orders subject to affirmative procedure), in paragraph...
Supplies to employees etc at less than open market value
6.After paragraph 2 of Schedule 6 insert— (1) This paragraph applies if— (a) a taxable person (“P”)...
7.(1) The amendments made by paragraphs 2 to 4 come...
8.(1) The amendment made by paragraph 6 is to be...
Stamp duty land tax: transactions entered into before completion of contract
2.For section 45 (contract and conveyance: effect of transfer of...
3.After Schedule 2 insert— SCHEDULE 2A Transactions entered into before...
4.In section 57A (sale and leaseback arrangements), in subsection (3)(c)—...
5.In section 77 (notifiable transactions), in subsection (1)—
6.In section 79(2) (registration of land transactions etc)—
7.In section 119 (meaning of “effective date” of a transaction),...
8.In section 121 (index of defined expressions), in the entry...
9.In Schedule 6B (transfers involving multiple dwellings), in paragraph 7(6),...
10.In paragraph 12B of Schedule 17A (assignment of agreement for...
11.The amendments made by this Schedule have effect in relation...
Stamp duty land tax: relief from 15% rate
Amendments of FA 2003
2.(1) Schedule 4A (higher rate for certain transactions) is amended...
3.(1) Section 81 (further return where relief withdrawn) is amended...
4.After section 81 insert— Alternative finance arrangements: return where relief...
5.In section 85 (liability for tax), after subsection (2) insert—...
6.In section 86 (payment of tax), after subsection (2) insert—...
7.In the table in section 122 (index of defined expressions),...
8.The amendments made by paragraphs 1 to 7 have effect...
Transactions to which section 29 of the Scotland Act 2012 applies
9.(1) In relation to transactions in relation to which section...
2.(1) In Schedule 17A (further provisions about leases), paragraph 3...
3.After that paragraph insert— (1) This paragraph applies where— (a) (ignoring this paragraph) paragraph...
4.In section 87 (interest on unpaid tax), in subsection (3)—...
5.In section 119 (meaning of “effective date” of a transaction),...
Agreement for lease and assignment of agreement for lease
6.(1) Schedule 17A is amended as follows.
7.(1) In Schedule 17A, omit paragraphs 14 and 15 (abnormal...
8.(1) The amendments made by paragraph 2(2), (3), (5) and...
Climate change levy: supplies subject to carbon price support rates etc
PART 1 Earlier provision not to have effect
1.(1) On and after 26 March 2013, Schedule 6 to...
PART 2 New provision having effect from 1 April 2013
2.Schedule 6 to FA 2000 (climate change levy) is amended...
3.In paragraph 4 (definition of “taxable supply”) in sub-paragraph (2)(b)...
4.In paragraph 5 (supplies of electricity) after sub-paragraph (2) insert—...
5.In paragraph 6 (supplies of gas) in sub-paragraph (2A) after...
6.(1) Paragraph 14 (exemption for supplies to electricity producers) is...
7.In paragraph 15 (exemption for supplies to combined heat and...
8.(1) Paragraph 17 (exemption: self-supplies by electricity producers) is amended...
9.In paragraph 21 (regulations to avoid double charges to levy)...
10.In Part 2 after paragraph 24 insert— Deemed taxable supply:...
11.After paragraph 38 insert— Deemed supplies under paragraph 24A, 24B,...
12.(1) Paragraph 39 (regulations as to time of supply) is...
13.In paragraph 42 (amount payable by way of levy) before...
14.After paragraph 42 insert— (1) This paragraph applies to a deemed supply under paragraph...
15.In paragraph 55 (notification of registrability) in sub-paragraph (1) after...
16.In paragraph 62 (tax credits) in sub-paragraph (1) after paragraph...
17.In paragraph 146 (regulations) in sub-paragraph (3)—
18.In paragraph 147 (definitions)— (a) at the appropriate places, insert—...
19.After paragraph 152 insert— Meaning of “exempt unlicensed electricity supplier”...
20.(1) Regulation 5 of the Climate Change Levy (Electricity and...
21.The amendments made by this Part of this Schedule are...
22.(1) The amendments made by paragraph 6(2) and (3) above...
PART 3 Carbon price support rates from 1 April 2014
23.(1) In paragraph 42A of Schedule 6 to FA 2000...
PART 4 Carbon price support rates from 1 April 2015
24.(1) In paragraph 42A of Schedule 6 to FA 2000...
General anti-abuse rule: procedural requirements
1.(1) In this Part “the GAAR Advisory Panel” means the...
1A.Meaning of “tax appeal”
2.In this Schedule a “designated HMRC officer” means an officer...
3.(1) If a designated HMRC officer considers—
4.(1) If a notice is given to the taxpayer under...
4A.Corrective action by taxpayer
4B.Paragraphs 5 and 6 apply if the taxpayer does not...
5.If no representations are made in accordance with paragraph 4,...
6.(1) If representations are made in accordance with paragraph 4,...
7.If the matter is referred to the GAAR Advisory Panel,...
8.If the matter is referred to the GAAR Advisory Panel,...
9.(1) The taxpayer has 21 days beginning with the day...
10.(1) If the matter is referred to the GAAR Advisory...
11.(1) Where the matter is referred to the GAAR Advisory...
12.(1) A designated HMRC officer who has received a notice...
13.(1) A designated HMRC officer may give a notice, or...
SCHEDULE 43A
Procedural requirements: pooling notices and notices of binding
1.(1) This paragraph applies where a person has been given...
2.(1) This paragraph applies where a counteraction notice has been...
3.(1) The decision of a designated HMRC officer whether or...
4.(1) If a person to whom a pooling notice or...
5.If the person mentioned in paragraph 1(1) takes the relevant...
6.(1) Sub-paragraph (2) applies where— (a) a pooling notice is...
7.(1) In relation to a person who is, or has...
8.(1) This paragraph applies where— (a) further to a pooling...
9.(1) This paragraph applies where— (a) a person has been...
10.If a notice under paragraph 8(2) or 9(2) states that...
11.(1) For the purposes of paragraph 1, tax arrangements are...
12.(1) A designated HMRC officer may give a notice, or...
12A.Anything that may or must be done by a given...
13.(1) The Treasury may by regulations amend this Schedule (apart...
SCHEDULE 43B
Procedural requirements: generic referral of tax arrangements
1.(1) Sub-paragraph (2) applies if— (a) further to pooling notices...
2.(1) T has 30 days beginning with the day on...
3.(1) This paragraph applies where a designated HMRC officer has...
4.(1) If a generic referral is made to the GAAR...
5.If a generic referral is made the designated HMRC officer...
6.(1) If a generic referral is made to the GAAR...
7.(1) Where a designated HMRC officer is given an opinion...
8.(1) A designated HMRC officer who has received a copy...
9.(1) A designated HMRC officer may give a notice, or...
9A.Anything that may or must be done by a given...
10.(1) The Treasury may by regulations amend this Schedule (apart...
SCHEDULE 43C
Penalty under section 212A: supplementary provision
1.Paragraphs 2 to 4 set out how to calculate the...
2.(1) The “value of the counteracted advantage” is the additional...
3.(1) To the extent that the tax advantage mentioned in...
4.(1) To the extent that the tax advantage mentioned in...
5.(1) Where a person is liable for a penalty under...
6.(1) After notification of an assessment has been given to...
7.(1) Sub-paragraph (2) applies where a person—
8.(1) Sub-paragraph (3) applies where— (a) two or more penalties...
9.(1) A person may appeal against— (a) the imposition of...
10.(1) The Commissioners may in their discretion mitigate a penalty...
11.In this Schedule— (a) a reference to an “assessment” to...
2.(1) Section 71A (trusts for bereaved minors) is amended as...
3.(1) Section 71B (charge to tax on property to which...
4.(1) Section 71D (age 18-to-25 trusts) is amended as follows....
5.(1) Section 71E (charge to tax on property to which...
6.(1) Section 89 (trusts for disabled persons) is amended as...
7.(1) Section 89A (self-settlement by person with condition expected to...
8.(1) Section 89B (meaning of “disabled person's interest”) is amended...
9.(1) The amendments made by paragraphs 2 to 8 have...
10.(1) In section 89B (meaning of “disabled person's interest”), in...
11.TCGA 1992 is amended as follows.
12.(1) Section 169D (exceptions to rules on gifts to settlor-interested...
13.(1) Paragraph 1 of Schedule 1 (application of exempt amount...
14.FA 2005 is amended as follows.
15.(1) Section 34 (disabled persons) is amended as follows.
16.(1) Section 35 (relevant minors) is amended as follows.
17.For section 38 substitute— Meaning of “disabled person” In this Chapter “disabled person” has the meaning given by...
19.After Schedule 1 insert— SCHEDULE 1A Meaning of “disabled person”...
Interpretation: relevant settlement
20.(1) In this Schedule, “relevant settlement” means—
1.(1) This Part of this Schedule sets out the rules...
2.(1) In enactments relating to relevant tax, a reference to...
3.An individual (“P”) is resident in the UK for a...
4.If neither of those tests is met for that year,...
5.The automatic residence test is met for year X if...
6.There are 4 automatic UK tests.
7.The first automatic UK test is that P spends at...
8.(1) The second automatic UK test is that—
9.(1) The third automatic UK test is that—
10.(1) The fourth automatic UK test is that—
11.There are 5 automatic overseas tests.
12.The first automatic overseas test is that—
13.The second automatic overseas test is that—
14.(1) The third automatic overseas test is that—
15.(1) The fourth automatic overseas test is that—
16.(1) The fifth automatic overseas test is that—
17.(1) The sufficient ties test is met for year X...
18.The Table below shows how many UK ties are sufficient...
19.The Table below shows how many UK ties are sufficient...
20.(1) If P dies in year X, paragraph 18 has...
21.This Part of this Schedule defines some key concepts for...
22.(1) If P is present in the UK at the...
23.(1) If P is not present in the UK at...
Days spent “in” a period
24.Any reference to a number of days spent in the...
25.(1) A person's home could be a building or part...
26.(1) P is considered to be “working” (or doing “work”)...
27.(1) Work is done where it is actually done, regardless...
Rules for calculating the reference period
28.(1) This paragraph applies in calculating the “reference period” (which...
29.(1) There is a “significant break from UK work” if...
Relevant jobs on board vehicles, aircraft or ships
30.(1) P has a “relevant” job on board a vehicle,...
31.(1) What counts as a “UK tie” depends on whether...
32.(1) P has a family tie for year X if—...
33.(1) This paragraph applies in deciding for the purposes (only)...
34.(1) P has an accommodation tie for year X if—...
35.(1) P has a work tie for year X if...
36.(1) This paragraph applies for the purposes of paragraph 35....
37.P has a 90-day tie for year X if P...
38.(1) P has a country tie for year X if...
PART 3 Split year treatment
39.This Part of this Schedule— (a) explains when, as respects...
40.(1) The effect of a tax year being a split...
41.This Part— (a) does not apply in determining the residence...
42.The existence of special charging rules for cases involving split...
Definition of a “split year”
43.(1) As respects an individual, a tax year is a...
44.(1) The circumstances of a case fall within Case 1...
Case 2: the partner of someone starting full-time work overseas
45.(1) The circumstances of a case fall within Case 2...
46.(1) The circumstances of a case fall within Case 3...
Case 4: starting to have a home in the UK only
47.(1) The circumstances of a case fall within Case 4...
48.(1) The circumstances of a case fall within Case 5...
Case 6: ceasing full-time work overseas
49.(1) The circumstances of a case fall within Case 6...
Case 7: the partner of someone ceasing full-time work overseas
50.(1) The circumstances of a case fall within Case 7...
51.(1) The circumstances of a case fall within Case 8...
General rules for construing Cases 1 to 8
52.(1) This paragraph applies for the purposes of paragraphs 44...
The overseas part
53.(1) “The overseas part” of a split year is the...
Priority between Cases 1 to 3
54.(1) This paragraph applies to determine which Case has priority...
Priority between Cases 4 to 8
55.(1) This paragraph applies to determine which Case has priority...
The UK part
56.“The UK part” of a split year is the part...
Special charging rules for employment income
57.ITEPA 2003 is amended as follows.
58.(1) In section 15 (earnings for year when employee UK...
59.In section 22 (chargeable overseas earnings for year when remittance...
60.(1) Section 23 (calculation of “chargeable overseas earnings”) is amended...
61.(1) Section 24 (limit on chargeable overseas earnings where duties...
62.(1) Section 26 (foreign earnings for year when remittance basis...
63.In section 232 (giving effect to mileage allowance relief), after...
64.(1) Section 329 (deduction from earnings not to exceed earnings)...
65.(1) Section 394 (charge on employer-financed retirement benefits) is amended...
66.(1) Section 421E (income relating to securities: exclusions about residence...
67.In section 474 (cases where Chapter 5 of Part 7...
68.(1) Section 554Z4 (residence issues) is amended as follows.
69.In section 554Z6 (overlap with certain earnings), in subsection (1)(a),...
70.In section 554Z9 (remittance basis: A is ordinarily UK resident),...
71.(1) Section 554Z10 (remittance basis: A is not ordinarily resident)...
Special charging rules for pension income
72.(1) Section 575 of ITEPA 2003 (foreign pensions: taxable pension...
73.(1) Section 690 of ITEPA 2003 (employee non-residents etc) is...
Special charging rules for trading income
74.ITTOIA 2005 is amended as follows.
75.In section 6 (territorial scope of charge to tax), after...
76.(1) Section 17 (effect of becoming or ceasing to be...
77.In section 243 (post-cessation receipts: extent of charge to tax),...
78.In section 849 (calculation of firm's profits or losses), after...
79.(1) Section 852 (carrying on by partner of notional trade)...
80.(1) Section 854 (carrying on by partner of notional business)...
Special charging rules for property income
81.In section 270 of ITTOIA 2005 (profits of property businesses:...
Special charging rules for savings and investment income
82.Part 4 of ITTOIA 2005 (savings and investment income) is...
83.In section 368 (territorial scope of charges in respect of...
84.In section 465 (person liable for tax on gains from...
85.In section 467 (person liable: UK resident trustees), in subsection...
86.(1) Section 528 (reduction in amount charged under Chapter 9...
87.(1) Section 528A (reduction in amount charged on basis of...
88.(1) Section 536 (top slicing relieved liability: one chargeable event)...
Special charging rules for miscellaneous income
89.In section 577 (territorial scope of charges in respect of...
Special charging rules for relevant foreign income charged on remittance basis
90.In section 832 of ITTOIA 2005 (relevant foreign income charged...
91.(1) Chapter 2 of Part 13 of ITA 2007 (transfer...
Special charging rules for capital gains
92.TCGA 1992 is amended as follows.
93.(1) Section 2 (persons and gains chargeable to capital gains...
94.(1) Section 3A (reporting limits) is amended as follows.
95.(1) Section 12 (non-UK domiciled individuals to whom remittance basis...
96.In section 13 (attribution of gains to members of non-resident...
97.In section 16 (computation of losses), after subsection (3) insert—...
98.In section 16ZB (individual who has made election under section...
99.(1) Section 16ZC (individual who has made election under section...
100.In section 86 (attribution of gains to settlors with interest...
101.In section 87 (non-UK resident settlements: attribution of gains to...
102.In section 69 of TCGA 1992 (trustees of settlements), after...
103.In section 475 of ITA 2007 (residence of trustees), after...
Definitions in enactments relating to income tax and CGT
104.(1) Section 288 of TCGA 1992 (interpretation) is amended as...
105.In Part 2 of Schedule 1 to ITEPA 2003 (index...
106.In Part 2 of Schedule 4 to ITTOIA 2005 (index...
107.In section 989 of ITA 2007 (definitions for purposes of...
108.In Schedule 4 to that Act (index of defined expressions),...
PART 4 Anti-avoidance
109.This Part of this Schedule— (a) explains when an individual...
Meaning of temporarily non-resident
110.(1) An individual is to be regarded as “temporarily non-resident”...
111.In relation to an individual, a “residence period” is—
112.(1) An individual has “sole UK residence” for a residence...
113.In relation to an individual, “the temporary period of non-residence”...
114.“The year of departure” is the tax year consisting of...
115.“The period of return” is the first residence period after...
Consequential amendments: income tax
116.In ITEPA 2003, for section 576A substitute— Temporary non-residents (1) This section applies if a person is temporarily non-resident....
117.In ITEPA 2003, for section 579CA substitute— Temporary non-residents (1) This section applies if a person is temporarily non-resident....
118.In ITTOIA 2005, for section 832A substitute— Section 832: temporary...
Consequential amendments: capital gains tax
119.In TCGA 1992, for section 10A substitute— Temporary non-residents (1) This section applies if an individual (“the taxpayer”) is...
120.For section 86A of TCGA 1992 substitute— Attribution of gains...
121.In section 96 (payment by and to companies), in subsection...
122.(1) Section 279B (deferred unascertainable consideration: supplementary provisions) is amended...
123.(1) Schedule 4C (transfers of value: attribution of gains to...
New special rule: lump sum payments under pension schemes etc
124.ITEPA 2003 is amended as follows.
125.In Chapter 2 of Part 6 (employer-financed retirement benefits), after...
126.In Chapter 2 of Part 7A (employment income provided through...
127.In that Chapter, after section 554Z11 insert— Temporary non-residents (1) This section applies if A is temporarily non-resident.
128.In that Chapter, in section 554Z12 (relevant step taken after...
129.In Chapter 3 of Part 9 (United Kingdom pensions: general...
130.(1) In Chapter 1 of Part 11 (pay as you...
New special rule: distributions to participators in close companies etc
131.Part 4 of ITTOIA 2005 (savings and investment income) is...
132.In Chapter 1 (introduction), after section 368 insert— Interpretation of...
133.In Chapter 3 (dividends etc from UK resident companies and...
134.In Chapter 4 (dividends from non-UK resident companies), after section...
135.In Chapter 5 (stock dividends from UK resident companies), after...
136.In Chapter 6 (release of loan to participator in close...
137.In Chapter 8 of Part 5 of that Act (income...
138.In Chapter 1 of Part 14 of ITA 2007 (limits...
New special rule: chargeable event gains
139.Chapter 9 of Part 4 of ITTOIA 2005 (gains from...
140.After section 465A insert— Temporary non-residents (1) This section applies if an individual is temporarily non-resident....
141.In section 468 (non-UK resident trustees and foreign institutions), after...
142.In section 514 (chargeable events where transaction-related calculations show gains),...
143.In section 541 (calculation of deficiencies), in subsection (4)(b), after...
144.In section 552 of ICTA (information: duties of insurers), in...
145.In this Schedule— “corporation tax” includes any amount assessable or...
146.In relation to an individual who carries on a trade—...
147.A reference in this Schedule to a number of days...
148.(1) TCGA 1992 is amended as follows.
149.In section 27 of ITEPA 2003 (UK-based earnings for year...
150.In section 465 of ITTOIA 2005 (gains from contracts for...
151.(1) Chapter 4 of Part 2 of FA 2005 (trusts...
152.(1) ITA 2007 is amended as follows.
153.(1) Parts 1 and 2 of this Schedule have effect...
154.(1) This paragraph applies if— (a) year X or, in...
155.(1) This paragraph applies if— (a) year X or, for...
156.(1) Sub-paragraph (2) applies in determining whether the test in...
157.(1) This paragraph applies in determining whether the test in...
158.(1) The existing temporary non-resident provisions, as in force immediately...
159.Section 13 of FA 2012 (Champions League final 2013) is...
PART 1 Income tax and capital gains tax: remittance basis of taxation
Remittance basis restricted to non-doms
2.In section 809A (overview of Chapter), omit “or are not...
3.In section 809B (claim for remittance basis to apply)—
4.In section 809D (application of remittance basis without claim where...
5.In section 809E (application of remittance basis without claim: other...
Treatment of relevant foreign earnings
6.ITEPA 2003 is amended as follows.
7.(1) In section 22 (chargeable overseas earnings for year when...
8.In section 23 (calculation of “chargeable overseas earnings”), in subsection...
9.(1) In section 26 (foreign earnings for year when remittance...
10.After that section insert— Section 26: requirement for 3-year period...
11.(1) Section 41C (foreign securities income) is amended as follows....
12.In section 271 (limited exemption of removal benefits and expenses:...
13.(1) In section 554Z9 (remittance basis: A is ordinarily UK...
14.(1) In section 554Z10 (remittance basis: A is not ordinarily...
15.(1) Section 690 (employee non-resident etc) is amended as follows....
16.In section 266A of ICTA (life assurance premiums paid by...
17.In section 12 of TCGA 1992 (non-UK domiciled individuals to...
18.In section 87B of that Act (section 87: remittance basis),...
19.In section 726 of ITA 2007 (non-UK domiciled individuals to...
20.In section 730 of that Act (non-UK domiciled individuals to...
21.In section 735 of that Act (non-UK domiciled individuals to...
22.In section 809F of that Act (effect on what is...
23.In section 809YD of that Act (chargeable gains accruing on...
24.In section 809Z7 of that Act (meaning of “foreign income...
25.The amendments made by this Part of this Schedule have...
26.(1) This paragraph applies to an individual who—
27.References in this Part of this Schedule to an individual's...
PART 2 Income tax: arising basis of taxation
28.In section 614 of ICTA (exemptions and reliefs in respect...
29.ITEPA 2003 is amended as follows.
30.In section 56 (application of Income Tax Acts in relation...
31.In section 61G (application of Income Tax Acts in relation...
32.In section 328 (the income from which deductions may be...
33.In section 341 (travel at start or finish of overseas...
34.In section 342 (travel between employments where duties performed abroad),...
35.In section 370 (travel costs where duties performed abroad: employee's...
36.In section 376 (foreign accommodation and subsistence costs and expenses...
37.(1) Section 378 (deductions from seafarers' earnings: eligibility) is amended...
38.(1) Section 413 (exception in certain cases of foreign service)...
39.(1) In section 681A (foreign benefits of consular employees), for...
40.(1) In Schedule 2 (approved share incentive plans), in paragraph...
41.(1) In Schedule 3 (approved SAYE option schemes), in paragraph...
42.In Schedule 5 (enterprise management incentives), in paragraph 27(3)(b), omit...
43.ITTOIA 2005 is amended as follows.
44.In section 154A (certain non-UK residents with interest on 3½%...
45.In section 459 (transfer of assets abroad), in subsection (2),...
46.In section 468 (non-UK resident trustees and foreign institutions), for...
47.In section 569 (anti-avoidance: transfer of assets abroad), in subsection...
48.(1) In section 636 (calculation of undistributed income), in subsection...
49.In section 648 (income arising under a settlement), in subsection...
50.In section 651 (meaning of “UK estate” and “foreign estate”),...
51.In section 664 (the aggregate income of the estate), in...
52.(1) Section 715 (interest from FOTRA securities held on trust)...
53.(1) In section 771 (relevant foreign income of consular officers...
54.ITA 2007 is amended as follows.
55.In section 465 (overview of Chapter 2 and interpretation), in...
56.(1) Section 475 (residence of trustees) is amended as follows....
57.(1) Section 476 (how to work out whether settlor meets...
58.In section 643 (non-residents), in subsection (1), omit “and is...
59.In section 718 (meaning of “person abroad” etc), in subsection...
60.In section 720 (charge to tax on income treated as...
61.(1) Section 721 (individuals with power to enjoy income as...
62.In section 727 (charge to tax on income treated as...
63.(1) Section 728 (individuals receiving capital sums as a result...
64.In section 732 (non-transferors receiving benefit as a result of...
65.(1) In section 749 (restrictions on particulars to be provided...
66.In section 812 (case where limit on liability of non-UK...
67.(1) In section 834 (residence of personal representatives), in subsection...
68.(1) In section 858 (declarations of non-UK residence: individuals)—
69.(1) In section 859 (declarations of non-UK residence: Scottish partnerships)—...
70.(1) In section 860 (declarations of non-UK residence: personal representatives),...
71.(1) Section 861 (declarations of non-UK residence: settlements) is amended...
72.(1) The amendments made by this Part of this Schedule...
73.(1) This paragraph applies to an individual who—
PART 3 Capital gains tax: accruals basis of taxation
74.TCGA 1992 is amended as follows.
75.(1) Section 2 (persons and gains chargeable to capital gains...
76.In section 10 (non-resident with United Kingdom branch or agency),...
77.(1) Section 13 (attribution of gains to members of non-resident...
78.In section 16 (computation of losses), in subsection (3), for...
79.In section 62 (death: general provisions), in subsection (3), omit...
80.In section 65 (liability for tax of trustees or personal...
81.In section 67 (provisions applicable where section 79 of the...
82.(1) Section 69 (trustees of settlements) is amended as follows....
83.In section 76 (disposal of interests in settled property), in...
84.In section 80 (trustees ceasing to be resident in UK),...
85.(1) Section 81 (death of trustee: special rules) is amended...
86.In section 82 (past trustees: liability for tax), in subsection...
87.In section 83 (trustees ceasing to be liable to UK...
88.(1) Section 83A (trustees both resident and non-resident in a...
89.In section 84 (acquisition by dual resident trustees), in subsection...
90.In section 85 (disposal of interests in non-resident settlements), in...
91.(1) Section 86 (attribution of gains to settlors with interest...
92.(1) Section 87 (non-UK resident settlements: attribution of gains to...
93.In section 88(1) (gains of dual resident settlements)—
94.(1) Section 96 (payments by and to companies) is amended...
95.In section 97 (supplementary provisions), in subsection (1)(a), for “neither...
96.In section 99 (application of Act to unit trust schemes),...
97.In section 106A(5A) (identification of securities: capital gains tax)—
98.(1) Section 159 (non-residents: roll-over relief) is amended as follows....
99.(1) Section 166 (gifts to non-residents) is amended as follows....
100.(1) Section 167 (gifts to foreign-controlled companies) is amended as...
101.(1) Section 168 (emigration of donee) is amended as follows....
102.In section 169 (gifts into dual resident trusts), in subsection...
103.In section 199 (exploration or exploitation assets: deemed disposals), in...
104.(1) Section 261 (section 260 relief: gifts to non-residents) is...
105.In Schedule 1 (application of exempt amount and reporting limits...
106.(1) Schedule 4A (disposal of interest in settled property: deemed...
107.(1) Schedule 4C (transfers of value: attribution of gains to...
108.(1) Schedule 5 (attribution of gains to settlors with interest...
109.(1) Schedule 5A (settlements with foreign element: information) is amended...
110.(1) Schedule 5B (enterprise investment scheme: re-investment) is amended as...
111.In Schedule 7C (reliefs for transfers to approved share plans),...
112.(1) The amendments made by this Part of this Schedule...
FA 1916
113.In FA 1916, omit section 63 (exemption from taxation of...
F(No.2)A 1931
114.(1) In section 22 of F(No.2)A 1931 (provisions in cases...
115.TMA 1970 is amended as follows.
116.(1) In section 98 (special returns etc), in subsection (4E)(d),...
117.In Schedule 1A (claims etc not included in returns), in...
118.(1) Section 157 of IHTA 1984 (non-residents' bank accounts) is...
119.Part 4 of FA 2004 (pension schemes etc) is amended...
120.In section 185G (disposal by person holding directly), in subsection...
121.In section 205 (short service refund lump sum charge), in...
122.In section 205A (serious ill-health lump sum charge), in subsection...
123.In section 206 (special lump sum death benefits charge), in...
124.In section 207 (authorised surplus payments charge), in subsection (3),...
125.In section 208 (unauthorised payments charge), in subsection (4), omit...
126.In section 209 (unauthorised payments surcharge), in subsection (5), omit...
127.In section 217 (persons liable to lifetime allowance charge), in...
128.In section 237A (liability of individual to annual allowance charge),...
129.In section 237B (liability of scheme administrator), in subsection (8),...
130.In section 239 (scheme sanction charge), in subsection (4), omit...
131.In section 242 (de-registration charge), in subsection (3), omit “,...
132.The amendments of Part 4 of FA 2004 made by...
133.(1) In section 30 of FA 2005 (qualifying trust gains:...
134.F(No.2)A 2005 is amended as follows.
135.(1) In section 7 (charge to income tax on lump...
136.In section 18 (section 17(3): specific powers), in subsection (1)(f)...
137.CTA 2009 is amended as follows.
138.(1) In section 900 (which relates to roll-over relief for...
139.(1) In section 936 (meaning of “UK estate” and “foreign...
140.(1) In section 947 (aggregate income of the estate), in...
141.(1) In section 1009 (conditions relating to employee's income tax...
142.(1) In section 1017 (condition relating to employee's income tax...
143.(1) In section 1025 (additional relief available if shares acquired...
144.(1) In section 1032 (meaning of “chargeable event”), in subsection...
145.(1) Section 1034 of CTA 2010 (purchase by unquoted trading...
146.In section 363A of TIOPA 2010 (residence of offshore funds...
147.(1) In section 41 of the Constitutional Reform and Governance...
1.Part 9A of TIOPA 2010 (controlled foreign companies) is amended...
2.Chapter 5 (the CFC charge gateway: non-trading finance profits) is...
3.In section 371ED (arrangements in lieu of dividends) in subsection...
4.(1) Section 371EE (leases to UK resident companies etc) is...
5.Chapter 22 (supplementary provision) is amended as follows.
6.In section 371VA (definitions) for the definition of “relevant finance...
7.(1) Section 371VG (finance profits) is amended as follows.
8.(1) Section 371VH (interests in companies) is amended as follows....
9.After section 371VI insert— Relevant finance leases (1) In this Part “relevant finance lease” means an arrangement...
Limit on double taxation relief in cases involving qualifying loan relationships of CFCs
10.Part 2 of TIOPA 2010 (double taxation relief) is amended...
11.Chapter 2 (double taxation relief by way of credit) is...
12.In section 42 (limit on credit against corporation tax) after...
13.After section 49 insert— Limit on credit in cases involving...
14.(1) In Chapter 3 (miscellaneous provisions), section 112 (deduction from...
15.In Part 6 of TIOPA 2010 (tax arbitrage), in section...
16.Part 9A of TIOPA 2010 (controlled foreign companies) is amended...
17.In Chapter 3 (the CFC charge gateway: determining which (if...
18.Chapter 9 (exemptions for profits from qualifying loan relationships) is...
19.In section 371IB (loans funded out of qualifying resources) after...
20.(1) Section 371IE (matched interest) is amended as follows.
21.The amendments made by this Schedule are treated as having...
22.(1) Section 371CE of TIOPA 2010 (as amended by paragraph...
Proceeds of crime: powers of officers of Revenue and Customs
1.The Proceeds of Crime Act 2002 is amended in accordance...
2.(1) Section 289 (searches) is amended as follows.
3.In section 290 (prior approval for search)—
4.In section 291(2) (report on exercise of powers), for “customs...
5.In section 292 (code of practice)— (a) in subsection (1),...
7.In section 295(1) (detention of seized cash), for “customs officer”...
8.In section 296(2) (interest on cash), for “customs officer” substitute...
9.In section 297(4) (release of detained cash), for “A customs...
10.In section 302(6) (compensation), for “a customs officer” substitute “...
11.In section 351(5) (person making application to vary or discharge...
12.(1) Section 352 (search and seizure warrants) is amended as...
13.(1) Section 353 (requirements where production order not available) is...
14.(1) Section 369 (customer information orders: supplementary provisions) is amended...
15.In section 375(4) (account monitoring orders: supplementary provisions)—
16.After section 375B insert— Officers of Revenue and Customs Restriction...
17.In section 377(1) (persons subject to code of practice), for...
18.In section 378 (officers)— (a) in subsection (1), for paragraph...
19.After section 408B insert— Officers of Revenue and Customs Restriction...
20.In section 412 (interpretation), in the entry relating to the...
21.In Schedule 2 to the Commissioners for Revenue and Customs...
Relationship of provisions of 2005 Act with provisions of 2002 Act
22.Nothing in section 6 or 7 of the Commissioners for...
23.In section 80(1) and (3) of the Serious Crime Act...
24.In Schedule 7 to the Policing and Crime Act 2009...
Corporation tax: deferral of payment of exit charge
2.After section 59F insert— Exit charge payment plans (1) Schedule 3ZB contains provisions about exit charge payment plans...
3.Immediately before section 59G insert— “ Managed payment plans ”....
4.(1) Section 109B (provision for securing payment by company of...
5.(1) Section 109E (liability of other persons for unpaid tax)...
6.After Schedule 3ZA insert— SCHEDULE 3ZB Exit charge payment plans...
Amendments of FA 2009
8.(1) The amendments made by this Schedule are treated as...
Penalties: late filing, late payment and errors
Amendments to Schedule 24 to FA 2007: penalties for errors
1.(1) In Schedule 24 to FA 2007 (penalties for errors),...
2.Schedule 55 (penalty for failure to make returns etc) to...
3.In paragraph 1 (returns etc in respect of which penalties...
4.In the Table at the end of paragraph 1, in...
5.In paragraph 2 (amount of penalty: occasional returns and returns...
6.After paragraph 6A insert— Amount of penalty: real time information...
7.In paragraph 18 (assessment), for sub-paragraph (5) substitute—
8.(1) Paragraph 19 (assessment) is amended as follows.
9.(1) Paragraph 27 (interpretation) is amended as follows.
10.Schedule 56 (penalty for failure to make payments on time)...
11.In paragraph 1 (penalty for failure to pay tax), in...
12.(1) Paragraph 6 (amount of penalty: PAYE and CIS amounts)...
13.After paragraph 9 insert— Interaction with other penalties and late...
14.(1) Paragraph 11 (assessment of penalty) is amended as follows....
15.In consequence of paragraph 7, paragraph 10 of Schedule 10...
16.(1) The amendments made by paragraph 1 have effect in...
Withdrawal of notice to file etc
2.(1) Section 7 (notice of liability to income tax and...
3.After section 8A insert— Withdrawal by HMRC of notice under...
4.After section 12AA insert— Withdrawal by HMRC of notice under...
5.In section 59B (payment of income and capital gains tax),...
6.(1) Paragraph 7 of Schedule 41 to FA 2008 (potential...
7.(1) Paragraph 3 of Schedule 53 to FA 2009 (late...
8.In Schedule 55 to that Act (penalty for failure to...
9.(1) The amendments made by this Schedule have effect—