Source: http://www.legislation.gov.uk/ukpga/2008/9/part/2/crossheading/miscellaneous
Timestamp: 2013-05-22 07:34:15
Document Index: 19360083

Matched Legal Cases: ['art. 3', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2']

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Changes to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2008. 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.Act modified by S.I. 2009/317 art. 3 Sch.Blanket amendment words substituted by S.I. 2011/1043 art. 3 4Whole provisions yet to be inserted into this Act (including any effects on those provisions):s. 40A-40G inserted by 2009 c. 10 Sch. 22 para. 2s. 40A-42A repealed by 2010 c. 8 Sch. 8 para. 170 Sch. 10 Pt. 5s. 42A inserted by 2009 c. 10 Sch. 22 para. 5Commencement Orders yet to be applied to the Finance Act 2008: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. 2008/1925 art. 2 commences (2008 c. 9)S.I. 2008/1928 art. 2 commences (2008 c. 9)S.I. 2008/1929 art. 2 commences (2008 c. 9)S.I. 2008/1930 art. 2 commences (2008 c. 9)S.I. 2008/1933 art. 2 commences (2008 c. 9)S.I. 2008/1935 art. 2(1) commences (2008 c. 9)S.I. 2009/402 art. 2 commences (2008 c. 9)S.I. 2009/403 art. 2 commences (2008 c. 9)S.I. 2009/404 art. 2 commences (2008 c. 9)S.I. 2009/405 art. 2 commences (2008 c. 9)S.I. 2009/511 art. 2 commences (2008 c. 9)S.I. 2009/571 art. 2-5 commences (2008 c. 9)S.I. 2010/409 art. 2 commences (2008 c. 9)S.I. 2011/23 art. 2 commences (2008 c. 9)Commencement Orders bringing legislation that affects this Act into force:S.I. 2010/867 art. 2 commences (2009 c. 10)S.I. 2011/975 art. 2 commences (2010 c. 13)MiscellaneousE+W+S+N.I.67Income of beneficiaries under settlor-interested settlementsE+W+S+N.I.(1)In section 685A of ITTOIA 2005 (settlor-interested settlements), after subsection (5) insert—
“(5A)If the recipient of the annual payment is treated by subsection (3) as having paid income tax in respect of the annual payment, the amount of the payment is treated as the highest part of the recipient's total income for all income tax purposes except the purposes of sections 535 to 537 (gains from contracts for life insurance etc: top slicing relief).
(5B)See section 1012 of ITA 2007 (relationship between highest part rules) for the relationship between—
(a)the rule in subsection (5A), and
(b)other rules requiring particular income to be treated as the highest part of a person's income.”
(2)In section 1012(4) of ITA 2007 (relationship between rules on highest part of total income), after the entry relating to section 465A of ITOIA 2005 insert— “ section 685A(5A) of ITTOIA 2005 (payments from trustees of settlor-interested settlements to be treated as highest part of total income), ”.
(3)The amendments made by this section have effect for the tax year 2006-07 and subsequent tax years.
68Income charged at dividend upper rateE+W+S+N.I.(1)In section 13(2) of ITA 2007 (income charged at dividend upper rate: individuals)—
(b)at the end of paragraph (b) insert “, and (c)is not relevant foreign income charged in accordance with section 832 of ITTOIA 2005.”
69Payments on account of income taxE+W+S+N.I.(1)In section 964 of ITA 2007, omit subsection (5) (sums representing income tax deducted from annual payments not to be taken into account for the purpose of calculating amounts to be paid on account of income tax).
(2)The repeal made by subsection (1) has effect for the purpose of calculating the amount of any payments to be made under section 59A of TMA 1970 on account of liability to income tax for the tax year 2008-09 and subsequent tax years.
70Allowances etc for non-resident nationals of an EEA stateE+W+S+N.I.(1)In section 278 of ICTA (non-residents eligible for reliefs)—
(a)in subsection (2)(a), omit “or an EEA national”, and
(2)In section 56(3) of ITA 2007 (non-UK residents eligible for personal allowances and tax reductions), before paragraph (a) insert—
“(za)is a national of an EEA state,”.
(3)Accordingly, omit section 145 of FA 1996 (personal reliefs for non-resident EEA nationals).
(4)The amendments made by this section have effect for the tax year 2008-09 and subsequent tax years.