Source: http://www.legislation.gov.uk/ukpga/1995/4/part/VI
Timestamp: 2013-05-18 08:51:13
Document Index: 149422505

Matched Legal Cases: ['art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 90']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsHomeAbout UsBrowse LegislationNew LegislationChanges to LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchFinance Act 1995You are here:1995 c. 4Part VITable of ContentsContentMore ResourcesPrevious: PartNext: SchedulePlain ViewPrint Options
What VersionLatest available (Revised)Original (As enacted)Advanced FeaturesShow Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)Show Timeline of Changes Opening OptionsOpen whole ActOpen Act without schedulesOpen Schedules onlyChanges to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 1995. 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.Commencement Orders yet to be applied to the Finance Act 1995:Commencement OrdersThis section lists the commencement orders yet to be applied to the whole 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. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.Commencement Orders bringing provisions within this Act into force:S.I. 2005/1523 art. 2 commences (1995 c. 4)Commencement Orders bringing legislation that affects this Act into force:S.I. 2005/1126 art. 2 commences (2005 c. 11)S.I. 2009/402 art. 2 commences (2008 c. 9)S.I. 2009/511 art. 2 commences (2008 c. 9)S.R. 2006/21 art. 2 commences (S.I. 2005/1455 (N.I.))S.R. 2006/22 art. 2-7 transitional provisions for effects of SR 2006/21Part VIE+W+S+N.I. Miscellaneous and General MiscellaneousE+W+S+N.I.152 Open-ended investment companies.E+W+S+N.I.(1)The Treasury may, by regulations, make such provision as they consider appropriate for securing that the enactments specified in subsection (2) below have effect in relation to—
(a)the Tax Acts and the M1Taxation of Chargeable Gains Act 1992; and
(b)the enactments relating to stamp duty and [F1stamp duty reserve tax].
(c)applies and adapts any of the provisions of [F2the enactments relating to stamp duty or stamp duty reserve tax] for the purpose of making in relation to transactions involving open-ended investment companies any provision corresponding (with or without modifications) to that which applies under [F3those enactments] in the case of equivalent transactions involving unit trusts;
(d)provides for any or all of the provisions of sections 75 to 77 of the M2Finance Act 1986 to have effect or not to have effect in relation to open-ended investment companies or the undertakings of, or any shares in, such companies;
“the enactments relating to stamp duty” means the M3Stamp Act 1891, and any enactment (including any Northern Ireland legislation) which amends or is required to be construed together with that Act;
[F4“the enactments relating to stamp duty reserve tax” means Part IV of the Finance Act 1986 and any enactment which amends or is required to be construed as one with that Part;]
“Northern Ireland legislation” shall have the meaning given by section 24(5) of the M4Interpretation Act 1978;
[F5“open-ended investment company” shall have the meaning given by section 236 of the Financial Services and Markets Act 2000;]
“subordinate legislation” means any subordinate legislation within the meaning of the M5Interpretation Act 1978 or any order or regulations made by statutory instrument under Northern Ireland legislation; and
and references in this section to the enactments relating to stamp duty, or to any of them, or to Part IV of the Finance Act 1986 shall have effect as including references to enactments repealed by sections 107 to 110 of the M6Finance Act 1990.
(b)for the purposes of so much of this section as confers power in relation to the enactments specified in paragraph (b) of that subsection, as a reference to any unit trust scheme (within the meaning given by section 57 of the M7Finance Act 1946).
(b)where one company controls another or two or more companies are under the same control. M8
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)F1Words in s. 152(2)(b) substituted (6.2.2000) by 1999 c. 16, s. 122(4), Sch. 19 para. 13(1)(2)F2Words in s. 152(3)(c) substituted (6.2.2000) by 1999 c. 16, s. 122(4), Sch. 19 para. 13(1)(3)(a)F3Words in s. 152(3)(c) substituted (6.2.2000) by 1999 c. 16, s. 122(4), Sch. 19 para. 13(1)(3)(b)F4S. 152(6): definition of “the enactments relating to stamp duty reserve tax” inserted (6.2.2000) by 1999 c. 16, s. 122(4), Sch. 19 para. 13(1)(4)F5S. 152(6): definition of “open-ended investment company” substituted (1.12.2001) by S.I. 2001/3629, art. 90Marginal CitationsM11992 c. 12. M21986 c. 41. M31891 c. 39. M41978 c. 30. M51978 c. 30. M61986 c. 41. M71946 c. 64. M81990 c. 29. F6153. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.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)F6S. 153 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. VII Notes 1, 2 of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. VII Notes 1, 2154 Short rotation coppice.E+W+S+N.I.(1)The cultivation of short rotation coppice shall be regarded for the purposes of the Tax Acts and the M9Taxation of Chargeable Gains Act 1992 as farming (and, where relevant, as husbandry or agriculture) and not as forestry; and land in the United Kingdom on which the activity is carried on shall accordingly be regarded for those purposes as farm land or agricultural land, as the case may be, and not as woodlands.
(2)For the purposes of the M10 Inheritance Tax Act 1984 the cultivation of short rotation coppice shall be regarded as agriculture; and accordingly for those purposes—
(a)land on which short rotation coppice is cultivated shall be regarded as agricultural land, and
(b)buildings used in connection with the cultivation of short rotation coppice shall be regarded as farm buildings.
(3)In subsections (1) and (2) “short rotation coppice” means a perennial crop of tree species planted at high density, the stems of which are harvested above ground level at intervals of less than ten years.
(4)Subsection (1) and subsection (3) so far as relating to subsection (1) shall be deemed to have come into force on 29th November 1994.
(5)Subsection (2) and subsection (3) so far as relating to subsection (2) shall have effect in relation to transfers of value or other events occuring on or after 6th April 1995.
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.Marginal CitationsM91992 c. 12. M101984 c.51 155 Inheritance tax: agricultural property.E+W+S+N.I.(1)In section 116 of the Inheritance Tax Act 1984 (relief for transfers of agricultural property) in subsection (2) (rate of relief) the word “either” shall be omitted and at the end of paragraph (b) there shall be inserted “or (c)the interest of the transferor in the property immediately before the transfer does not carry either of the rights mentioned in paragraph (a) above because the property is let on a tenancy beginning on or after 1st September 1995;”.
[F7(2)After subsection (2) of that section there shall be inserted the following subsection—
“(2A)In the application of this section as respects property in Scotland, the reference in subsection (2)(c) above to a tenancy beginning on or after 1st September 1995 includes a reference to its being acquired on or after that date by right of succession (the date of acquisition being taken to be the date on which the successor gives relevant notice under section 12 of the M11Agricultural Holdings (Scotland) Act 1991).”]
(3)Subsections (1) and (2) above shall apply in relation to transfers of value made, and other events occurring, on or after 1st September 1995.
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)F7S. 155(2) repealed (29.4.1996 with effect as mentioned in s. 185(3)(6) of the amending Act) by 1996 c. 8, s. 205, Sch. 41 Pt. VIMarginal CitationsM111991 c. 55. 156 Proceedings for tax in sheriff court.E+W+S+N.I.(1)Section 67 of the M12Taxes Management Act 1970 (proceedings for tax in sheriff court) shall be amended as follows.
(2)In subsection (1) (tax not exceeding a specified sum recoverable in sheriff court) for the words from “where” to “the tax” there shall be substituted “ tax due and payable under any assessment ”.
“(1A)An officer of the Board who is authorised by the Board to do so may address the court in any proceedings under this section.”
(4)This section shall apply in relation to proceedings commenced after the day on which this Act is passed.
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.Marginal CitationsM121970 c. 9. 157 Certificates of tax deposit.E+W+S+N.I.(1)If, whether before or after the passing of this Act—
(6)Section 178 of the M13Finance Act 1989 (interest rates) shall apply to subsection (5) above for determining the rate of the interest treated, by virtue of that subsection, as included in any compensation under this section; and any regulations under that section which are in force at the passing of this Act shall be deemed, subject to the powers of the Treasury under that section, to have effect in relation to this section as they have effect in relation to the enactments specified in subsection (2)(f) of that section (interest on overdue tax).
(a)references to a tax deposit are references to the whole or any part of any deposit in respect of which a certificate of tax deposit has been issued by the Treasury under section 12 of the M14National Loans Act 1968; and
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.Marginal CitationsM131989 c. 26. M141968 c. 13. 158 Amendment of the Exchequer and Audit Departments Act 1866.E+W+S+N.I.Section 10 of the M15Exchequer and Audit Departments Act 1866 (Commissioners of Customs and Excise and of Inland Revenue to deduct repayments from gross revenues) shall have effect, and be deemed always to have had effect, as if the reference in that section to repayments included references to—
(a)payments in respect of any actual or deemed credits relating to any tax or duty; and
(b)payments of any interest on sums which are or are deemed to be repayments for the purposes of that section.
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.Marginal CitationsM151866 c. 39. 159 Ports levy.E+W+S+N.I.(1)In Part I of the M16Ports Act 1991 (transfer of statutory port undertakings), after section 15 (duty to provide information for purposes of levy) insert—
“15A Notice of assessment: supplementary provisions.(1)Where a notice of assessment has been served under section 14(2) above on a former relevant port authority (“the authority”), the authority may, within the period mentioned in section 14(3) above, by notice in writing request the appropriate Minister to reconsider the amount of the assessment.
(6)Except as provided by this section a notice of assessment under section 14(2) above shall not be questioned in any legal proceedings whatsoever.”.
(2)Sections 115 to 120 of the M17Finance Act 1990 (levy on privatisation of certain ports) shall cease to have effect.
(3)An Order in Council under paragraph 1(1)(b) of Schedule 1 to the M18Northern Ireland Act 1974 (legislation for Northern Ireland in the interim period) which states that it is made only for purposes corresponding to those of subsection (1) above—
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.Marginal CitationsM161991 c. 52. M171990 c. 29. M181974 c. 28. F8160. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.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)F8S. 160 repealed (19.11.1998) by 1998 c. 43, s. 1(1), Sch. 1 Pt. IV Group 5 GeneralE+W+S+N.I.161 Interpretation.E+W+S+N.I.(1)In this Act “the Taxes Act 1988” means the M19Income and Corporation Taxes Act 1988.
(2)In Part III of this Act “the Management Act” means the M20Taxes Management Act 1970.
(3)Part V of this Act shall be construed as one with the M21Stamp Act 1891.
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.Marginal CitationsM191988 c. 1. M201970 c. 9. M211891 c. 39. 162 Repeals.E+W+S+N.I.The provisions specified in Schedule 29 to this Act (which include provisions which are already spent) are hereby repealed to the extent specified in the third column of that Schedule, but subject to any provision of that Schedule.
163 Short title.E+W+S+N.I.This Act may be cited as the Finance Act 1995.