Source: http://www.legislation.gov.uk/ukpga/2010/13/part/3
Timestamp: 2016-05-26 02:53:42
Document Index: 550904845

Matched Legal Cases: ['art 3', 'art 3', 'art 3', 'art 9', 'art 15', 'art 4']

Table of ContentsContentExplanatory NotesMore ResourcesPrevious: PartNext: SchedulePlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As enacted)Advanced FeaturesShow Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)Show Timeline of ChangesOpening OptionsOpen whole ActOpen Act without schedulesOpen Schedules onlyMore ResourcesOriginal Print PDFCorrection Slip - 15/10/2010View moreChanges to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2010. Any changes that have already been made by the team appear in the content and are referenced with annotations.Changes to LegislationRevised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.Changes and effects yet to be applied to the whole Act associated Parts and Chapters:Changes and effectsThis section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.Whole provisions yet to be inserted into this Act (including any effects on those provisions):Sch. 1 para. 196 omitted by 2012 c. 14 Sch. 39 para. 5(2)(g)Sch. 1 para. 372 omitted by 2012 c. 14 Sch. 39 para. 5(2)(g)Sch. 1 para. 376 omitted by 2012 c. 14 Sch. 39 para. 5(2)(g)Sch. 1 para. 45(14)(a) (aa) substituted for Sch. 1 para. 45(14)(a) and word by 2012 c. 21 Sch. 18 para. 130(a)Sch. 6 para. 7(i) and word inserted by 2013 c. 29 Sch. 35 para. 3(b) Part 3 E+W+S+N.I.Other provisionsIncome tax: benefits in kindE+W+S+N.I.58Zero and low emission vehiclesE+W+S+N.I.(1)Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is amended as follows.
(6)Omit subsection (5A).
(7)Section 140 (cars first registered in 1998 or later without emissions figure) is amended as follows.
(8)In subsection (3), for the words after “year is” substitute—
“(a)the special percentage if the car cannot in any circumstances emit CO2 by being driven, and
(b)35% in any other case.”
“(3A)The special percentage is—
(a)for the tax years 2010-11 to 2014-15, 0%, and
(b)for the tax year 2015-16 and subsequent tax years, 9%.”
(10)Omit subsection (4).
(11)In section 149(4) (car fuel benefit), for “for an electrically propelled vehicle” substitute “ or any energy for a car which cannot in any circumstances emit CO2 by being driven. ”
(12)In section 155 (vans), for subsections (1) to (3) substitute—
“(1)The cash equivalent of the benefit of a van for a tax year is—
(a)nil in a case to which subsection (2) applies, and
(b)£3,000 in any other case.
(a)the restricted private use condition is met in relation to the van for the tax year, or
(b)the van cannot in any circumstances emit CO2 by being driven and the tax year is any of the tax years 2010-11 to 2014-15.”
(13)In—
(a)section 156(1) (reduction for periods when van unavailable), and
(b)section 158(1) (reduction for payments for private use),
for “155(2)(a) or (b)” substitute “ 155(1) ”.
(14)In section 160 (van fuel benefit)—
(a)in subsection (1), for “155(2)(b)” substitute “ 155(1)(b) ”, and
(15)In section 170(1A) (power to amend section 155(2)(a) and (3)(b))—
(a)in paragraph (a), for “155(2)(a)” substitute “ 155(1)(a) ” and after “employee” insert “ or a zero-emission van ”, and
(b)in paragraph (b), for “155(3)(b)” substitute “ 155(1)(b) ”.
(16)In FA 2006, in section 59, omit subsection (7).
(17)In FA 2009, in Schedule 28, omit paragraph 7.
(18)The amendments made by subsections (2) to (16) have effect for the tax year 2010-11 and subsequent tax years.
(19)The amendment made by subsection (17) is treated as always having had effect.
(20)The amendment of section 142 of ITEPA 2003 made by paragraph 8 of Schedule 28 to FA 2009 has effect for the tax year 2010-11 (as well as for the tax year 2011-12 and subsequent tax years).
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Amendments (Textual)F1S. 58(2)-(5) omitted (8.4.2010 with effect as mentioned in s. 59(5) of the amending Act) by virtue of Finance Act 2010 (c. 13), s. 59(4)(c)59Cars with CO2 emissions figureE+W+S+N.I.(1)Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is further amended as follows.
(2)For section 139 substitute—
“139Cars with a CO2 emissions figure: the appropriate percentage(1)The appropriate percentage for a year for a car with a CO2 emissions figure depends on the car's CO2 emissions figure.
(2)If the car's CO2 emissions figure is less than the relevant threshold for the year, the appropriate percentage for the year is—
(a)if the year is 2012-13, 2013-14 or 2014-15 and the car's CO2 emissions figure for the year does not exceed 75 grams per kilometre driven, 5%, and
(b)otherwise, 10%.
(3)If the car's CO2 emissions figure is equal to the relevant threshold for the year, the appropriate percentage for the year is 11% (“the threshold percentage”).
(4)If the car's CO2 emissions figure exceeds the relevant threshold for the year, the appropriate percentage for the year is whichever is the lesser of—
(a)the threshold percentage increased by one percentage point for each 5 grams per kilometre driven by which the CO2 emissions figure exceeds the relevant threshold for the year, and
(b)35%.
(5)The relevant threshold is 100 grams per kilometre driven.
(6)If the car's CO2 emissions figure is not a multiple of 5, it is to be rounded down to the nearest multiple of 5 for the purposes of subsections (3) and (4)(a).
(a)section 141 (diesel cars), and
(b)any regulations made by the Treasury under section 170(4) (power to reduce the appropriate percentage).”
(3)In section 170 (Treasury orders and regulations varying various amounts)—
(a)omit subsection (2A) (power to vary limit in section 139(3A)), and
(i)for “ “lower” substitute “ “ relevant ”,
(ii)for “the Table in section 139(4)” substitute “ section 139(5) ”, and
(iii)for “2006” substitute “ 2013 ”.
(4)In consequence of the amendments made by subsections (2) and (3), omit—
(a)in FA 2006, section 59,
(b)in FA 2009, in Schedule 28, paragraphs 6, 9 and 10(1), and
(c)in this Act, section 58(2) to (5).
(5)The amendments made by this section have effect for the tax year 2012-13 and subsequent tax years.
60Subsidised meals for employees: salary sacrifice etcE+W+S+N.I.(1)Section 317 of ITEPA 2003 (exemption from income tax in respect of provision for employees by employer of free or subsidised meals) is amended as follows.
(2)In subsection (1), for “C” substitute “ D ”.
“(4A)Condition D is that the provision is not pursuant to—
(a)relevant salary sacrifice arrangements, or
(b)relevant flexible remuneration arrangements.”
“relevant salary sacrifice arrangements” means arrangements (whenever made, whether before or after the employment began) under which the employee gives up the right to receive an amount of general earnings or specific employment income in return for the provision of free or subsidised meals;
“relevant flexible remuneration arrangements” means arrangements (whenever made, whether before or after the employment began) under which the employee and employer agree that the employee is to be provided with free or subsidised meals rather than receive some other description of employment income.”
Corporation taxE+W+S+N.I.61Sale of lessors: election out of chargeE+W+S+N.I.Schedule 18 contains provision amending Chapter 3 of Part 9 of CTA 2010 (and corresponding earlier provision) to introduce a system for electing out of the charge on a qualifying change.
62Accounting standards: loan relationships and derivative contractsE+W+S+N.I.Schedule 19 contains provision conferring powers on the Treasury to make regulations about cases where, in consequence of a change in accounting standards in relation to loan relationships or derivative contracts, there is a change in the way in which a company is permitted or required for accounting purposes to recognise amounts.
MiscellaneousE+W+S+N.I.63Champions League finalE+W+S+N.I.Schedule 20 contains provision exempting certain persons from income tax in respect of certain income arising in connection with the 2011 Champions League final.
64FSCS intervention in relation to insurance contractsE+W+S+N.I.(1)The Treasury may by regulations make provision for and in connection with the application of the relevant taxes in relation to circumstances in which there is relevant intervention under the FSCS.
(2)“Relevant intervention” means—
(a)anything done under, or while seeking to make, arrangements for securing continuity of insurance in connection with protected contracts of insurance,
(b)anything done as part of measures for safeguarding policyholders in connection with protected contracts of insurance, or
(c)the payment of compensation in connection with protected contracts of insurance.
“the FSCS” means the Financial Services Compensation Scheme (established under Part 15 of FISMA 2000);
“protected contracts of insurance” has the same meaning as in the Handbook made by the Financial Services Authority under that Act as it has effect from time to time.
(4)The provision that may be made by regulations under this section includes provision imposing any of the relevant taxes (as well as provisions for exemptions or reliefs).
(5)The relevant taxes are—
(e)stamp duty land tax,
(f)stamp duty,
(g)stamp duty reserve tax, and
(h)insurance premium tax.
(6)Regulations under this section may include provision having effect in relation to any time before they are made if the provision does not increase any person's liability to tax.
(7)The provision made by regulations under this section may be framed as provision modifying, or applying with appropriate modifications, provisions having effect in relation to protected contracts of insurance.
(a)amend, repeal or revoke or otherwise modify any enactment or instrument (whenever passed or made),
(b)make different provision for different cases or otherwise for different purposes, and
(c)make incidental, consequential, supplementary or transitional provision.
(10)A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.
65Stamp duty and SDRT: clearing housesE+W+S+N.I.(1)In sections 116(1)(b) and 117(1)(b) of FA 1991 (investment exchanges and clearing houses: stamp duty and SDRT), for the words after “description) of such an exchange” substitute “ or clearing house, or a nominee (or nominee of a prescribed description) of a member of such an exchange or clearing house, and ”.
(2)The amendments made by subsection (1) are treated as always having had effect.
66Alcoholic liquor duties: power to amend definition of “cider”E+W+S+N.I.In section 1 of ALDA 1979 (dutiable alcoholic liquors), after subsection (6) insert—
“(6A)The Treasury may by order made by statutory instrument amend subsection (6) above.
(6B)An order under subsection (6A) above may make—
(a)consequential amendments in this Act or any other enactment,
(b)other consequential provision, and
(c)supplementary, incidental and transitional provision.
(6C)A statutory instrument containing an order under subsection (6A) above is to be laid before the House of Commons after being made; and, unless it is approved by that House before the end of the period of 28 days beginning with the date on which it is made, ceases to have effect at the end of that period (but without that affecting anything previously done under it or the making of a new order).
(6D)In reckoning that period no account is to be taken of any time—
(b)during which the House of Commons is adjourned for more than 4 days.”
67Climate change levy: compatible state aidE+W+S+N.I.In paragraph 42 of Schedule 6 to FA 2000 (amount payable by way of levy), after sub-paragraph (2) insert—
“(3)If a reduced-rate supply is part of an aid scheme within Article 25 of Commission Regulation (EC) No. 800/2008, sub-paragraph (4) cites the title and publication reference of that Regulation for the purpose of complying with Article 3(1) of that Regulation.
(4)That citation is Commission Regulation (EC) No. 800/2008 of 6 August 2008 declaring certain categories of aid compatible with the common market in application of Articles 87 and 88 of the Treaty (General block exemption Regulation) (O.J. 2008 No. L214/3) (with the reference to Articles 87 and 88 being read, as a result of the Treaty of Lisbon, as a reference to Articles 107 and 108 of the Treaty on the Functioning of the European Union).”
68Pensions: minor correctionsE+W+S+N.I.(1)Section 280(2) of FA 2004 (Part 4: index) is amended as follows.
(2)After the definition of “active membership period (in sections 221 to 223)” insert—
“additional ratesection 6(2) of ITA 2007 (as applied by section 989 of that Act)”(3)In the definition of “basic rate limit”, for “20(2)” substitute “ 10 ”.
(4)After the entry relating to “higher rate” insert—
“higher rate limitsection 10 of ITA 2007”(5)The amendments made by subsections (2) and (4) have effect for the tax year 2010-11 and subsequent tax years.
(6)The amendment made by subsection (3) has effect for the tax year 2008-09 and subsequent tax years.
Final provisionsE+W+S+N.I.69InterpretationE+W+S+N.I.(1)In this Act—
“ALDA 1979” means the Alcoholic Liquor Duties Act 1979;
“FISMA 2000” means the Financial Services and Markets Act 2000;
70Short titleE+W+S+N.I.This Act may be cited as the Finance Act 2010.
Previous: PartNext: ScheduleBack to topOptions/HelpPrint OptionsPrint The Whole ActPDF The Whole ActWeb page The Whole ActPrint This Part onlyPDF This Part onlyWeb page This Part onlyYou have chosen to open The Whole ActThe Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.Would you like to continue?Continue to openYou have chosen to open The Whole Act as a PDFThe Whole Act you have selected contains over 200 provisions and might take some time to download.Would you like to continue?Continue to openYou have chosen to open the Whole ActThe Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.Would you like to continue?Continue to openYou have chosen to open Schedules onlyThe Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.Would you like to continue?Continue to openLegislation is available in different versions:Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.See additional information alongside the contentGeographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.Opening OptionsDifferent options to open legislation in order to view more content on screen at onceExplanatory NotesText created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.More ResourcesAccess essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:the original print PDF of the as enacted version that was used for the print copylists of changes made by and/or affecting this legislation itemconfers power and blanket amendment detailsall formats of all associated documentscorrection slipslinks to related legislation and further information resourcesMore ResourcesUse this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:the original print PDF of the as enacted version that was used for the print copycorrection slipsClick 'View More' or select 'More Resources' tab for additional information including:lists of changes made by and/or affecting this legislation itemconfers power and blanket amendment detailsall formats of all associated documentslinks to related legislation and further information resourcesAll content is available under the Open Government Licence v3.0 except where otherwise stated© Crown copyright