Source: https://www.legislation.gov.uk/ukpga/2013/29/notes/contents
Timestamp: 2020-08-15 11:31:22
Document Index: 475551328

Matched Legal Cases: ['art 1', 'art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 1', 'art 2', 'art 1', 'art 2', 'art 3', 'art 4', 'art 2', 'art 3', 'art 1', 'art 4', 'art 5', 'art 6', 'art 7', 'art 1', 'art 2', 'art 1', 'art 2', 'art 1', 'art 2', 'art 3', 'art 4']

Finance Act 2013 - Explanatory NotesFinance Act 2013 - Explanatory Notes
All reference to 'Parts' and 'sections' are from the Finance Act 2013. For other versions of these Explanatory Notes, see More Resources.
Section 1: Charge for 2013-14
Section 2: Personal Allowance for 2013-14 for Those Born after 5 April 1948
Section 3: Basic Rate Limit for 2013-14
Section 4: Corporation Tax: Charge and Main Rate for Financial Year 2014
Section 5: Corporation Tax: Small Profits Rate and Fractions for Financial Year 2013
Section 6: Corporation Tax: Main Rate for Financial Year 2015
Section 7, Schedule 1: Temporary Increase in Annual Investment Allowance
Section 8: London Anniversary Games
Section 9: Glasgow Commonwealth Games
Section 10: Expenses of Elected Representatives
Section 11: Exemption from Income Tax of Contributions to Pension Schemes
Section 12: Childcare Exemptions: Meaning of Disabled Child
Section 13: Income Tax Exemption for Universal Credit
Section 14, Schedule 2: Tax Advantaged Employee Share Schemes
Part 1, Retirement of Participants
Part 2, 'Good Leavers' (other than Retirees)
Part 3, Material Interest Rules
Part 4, Restricted Shares
Part 5, Share Incentive Plans: Partnership Shares
Part 6, Share Incentive Plans: Dividend Shares
Part 7, Share Incentive Plans: Employee Share Ownership Trusts
Part 8, Enterprise Management Incentives: Consequences of Disqualifying Events
Section 15: Abolition of Tax Relief for Patent Royalties
Section 16, Schedule 3: Limit on Income Tax Reliefs
Section 17, Schedule 4: Cash Basis for Small Businesses
Section 18, Schedule 5: Trade Profits: Deductions Allowable at a Fixed Rate
Section 19, Schedule 6: Employment Income: Duties Performed in the UK and Overseas
Section 20, Schedule 7: Remittance Basis: Exempt Property
Section 21: Payments on account
Section 22: Arrangements Made by Intermediaries
Section 23: Taxable Benefit of Cars: the Appropriate Percentage
Section 24, Schedule 8: Gains from Contracts for Life Insurance
New section 528 Reduction in amount charged on basis of non-UK residence where individual liable for tax
New 528A Reduction in amount charged on basis of non-UK residence of deceased person
Section 25, Schedule 9: Qualifying Insurance Policies
Details of the new Part A1 of Schedule 15 to ICTA
Details of new rules for qualifying policies
Section 26, Schedule 10: Transfer of Assets Abroad
Section 27, Schedule 11: Payments of Interest
Interest in kind
Section 28, Schedule 12: Disguised Interest
Section 29: Restriction on Surrender of Losses: Controlled Foreign Company Cases
Section 30: Loss Relief Surrenderable by Non-UK Resident Established in Eea State
Section 31: Arrangement for Transfers of Companies
Section 32: CHANGE IN OWNERSHIP: COMPANY RECONSTRUCTIONS
Section 33, Schedule 13: Change in Company Ownership: Shell Companies
Section 34, Schedule 14 Transfer of Deductions
Current corporate tax loss buying rules
Section 35, Schedule 15: R&D EXPENDITURE CREDITS
Section 36, Schedules 16, 17, 18: Relief for Television Production and Video Games Development
Part 1: Amendments of CTA 2009
Chapter 2: Taxation of Activities of Television Production Company.
Chapter 3: Television Tax Relief
Chapter 4: Programme losses
Chapter 5: Provisional Entitlement to Relief
Chapter 2: Taxation of Activities of Video Games development Company
Chapter 3: Video Games Tax Relief
Chapter 4: Video Game Losses
Section 37: Corporation Tax: Health Service Bodies: Exemption
Section 38: Chief Constables Etc (England and Wales): Exemption
Section 39, Schedule 19: Real Estate Investment Trusts: UK Reits Which Invest in Other UK Reits
Section 40: Corporation Tax Relief for Employee Share Acquisitions Etc
Section 41: Derivative Contracts: Property Total Return Swaps Etc
Section 42, Schedule 20: Corporation Tax: Tax Mismatch Schemes
Section 43: Tier Two Capital
Section 44: Financing Costs and Income: Group Treasury Companies
Section 45: Condition for company to be an “investment trust”
Section 46, Schedule 21: Community Amateur Sports Clubs
Section 47: Lifetime Allowance Charge: Power to Amend the Transitional Provision in Part 2 of Schedule 18 to FA 2011 Etc.
Section 48, Schedule 22: Lifetime Allowance Charge: New Standard Lifetime Allowance for the Tax Year 2014-15 and Subsequent Tax Years
Section 49: Annual Allowance: New Annual Allowance for the Tax Year 2014-15 and Subsequent Tax Years
Section 50: Drawdown Pensions and Dependants’ Drawdown Pensions
Section 51: Bridging Pensions
Section 52: Abolition of Contracting Out of State Second Pension: Consequential Amendments
Section 53: Overseas Pension Schemes: General
Section 54: Overseas Pension Schemes: Information and Inspection Powers
Section 55, Schedule 23: Employee Shareholder Shares
Part 1: Income tax treatment of employee shareholder shares
New Section 226A of ITEPA: Amount treated as earnings
New Section 226B of ITEPA: Deemed payment for employee shareholder shares
New section 226C of ITEPA: Only one payment deemed to be made under associated agreements
New section 226D of ITEPA: Shareholder or connected person having material interest in company
New section 385A of ITTOIA: No charge to tax on purchase by company of exempt employee shareholder shares
Part 2: Capital Gains Tax exemption for employee shareholder shares
New section 236B of TCGA: Exemption for employee shareholder shares
New section 236C of TCGA: Only first £50,000 of shares under associated agreements to be exempt
New section 236D of TCGA: Shares not exempt if shareholder or connected person has material interest in company
New section 236E of TCGA: Identification of exempt employee shareholder shares
New section 236F of TCGA: Reorganisation of share capital involving employee shareholder shares
New section 236G of TCGA: Relinquishment of employment rights is not disposal of an asset
Part 3: Corporation Tax
Part 4: Employment Income Exemption
Section 56: Seis: Income Tax Relief
Section 57: Seis: Reinvestment Relief
Section 58: Disincorporation Relief
Section 59: Disincorporation Relief: Qualifying Business Transfer
Section 60: Disincorporation Relief: Making a Claim
Section 61: Disincorporation Relief: Effect of Disincorporation Relief
Section 62: Attribution of Gains to Members of Non-Resident Companies
Section 63: Heritage Maintenance Settlements
Section 64, Schedule 24: EMI Options and Entrepreneurs’ Relief Etc
Section 65, Schedule 25: Charge on Certain High Value Disposals by Companies Etc
Section 66: Currency Used in Tax Calculations: Chargeable Gains and Losses
Section 67: Allowances for Energy-Saving Plant and Machinery: Northern Ireland
Section 68: Cars With Low Carbon Dioxide Emissions
Section 69: Gas Refuelling Stations: Extension of Time Limit for Capital Allowance
Section 70: First Year Allowance to Be Available for Ships and Railway Assets
Section 71, Schedule 26: Restrictions on Buying Capital Allowances
Section 72: Hire Cars for Disabled Persons
Section 73 Contribution Allowances: Plant and Machinery
Section 74, Schedule 27: community Investment Tax Relief
Section 75, Schedule 28: Lease Premium Relief
Section 76: Manufactured Payments: Stock Lending Arrangements
Section 77, Schedule 29: Manufactured Payments: General
Section 78: Relationship between Rules Prohibiting and Allowing Deductions
Section 79, Schedule 30: Close Companies
Insertion of new Chapters 3A and 3B
Amendments to section 455 CTA10
Amendments to section 459 CTA10
New Chapter 3A – charge to tax: other arrangements
Section 464A Charge to tax: conferring benefit
Section 464B Relief in case of return payment to company
Commencement of sections 464A and 464B
New Chapter 3B: Treatment of certain repayments and return payments
Rule Two: Arrangements rule
Provisions applying to both the 30 day rule and the Arrangements rule
Other features of Chapter 3B
Commencement of Chapter 3B
Part 2 of Section 79: Other Amendments
Section 80: Decommissioning Relief Agreements
Section 81: Decommissioning Relief Agreements: Meaning of “Decommissioning Expenditure”
Section 82: Decommissioning Relief Agreements: Annual Report
Section 83: Decommissioning Relief Agreements: Effect of Claim on Prt
Section 84: Decommissioning Relief Agreements: Terminal Losses Accruing by Virtue of Another’s Default
Section 85: Decommissioning Relief: Decommissioning Relief Agreements: Claims under Agreement Not to Affect Oil Allowance
Section 86: Decommissioning Relief: Removal of Iht Charges in Respect of Decommissioning Security Settlements
Section 87: Decommissioning Relief: Loan Relationships Arising from Decommissioning Security Settlements
Section 88: Decommissioning Relief: Decommissioning Expenditure Taken into Account for Prt Purposes
Section 89, Schedule 31: Decommissioning Relief: Miscellaneous Amendments Relating to Decommissioning
Section 90: Decommissioning Relief: Expenditure on Decommissioning Onshore Installations
Section 91: Decommissioning Relief: Expenditure on Decommissioning Certain Redundant Plant Or Machinery
Section 92: Decommissioning Relief: Expenditure on Site Restoration
Section 93, Schedule 32: Decommissioning Relieg: Restrictions on Allowances for Certain Oil-Related Expenditure
Sections 94 – 174, Schedules 33, 34, 35: Annual Tax on Enveloped Dwellings
Section 94 – Charge to Tax
Section 95 – Entitlement to interests
Section 96 – Person Liable
Section 97 – Liability of persons jointly entitled
Section 98 - Collective Investment Schemes: liability for and collection of tax
Section 99 – Amount of tax chargeable
Section 100 – Interim Relief
Section 101 – Indexation of annual chargeable amounts
Section 102– Taxable value
Section 103 – Section 102: “substantial” acquisitions and disposals
Section 104– No double charge
Section 105– “Adjusted chargeable amount”
Section 106 – Adjustment of amount chargeable
Section 107 – Chargeable interests
Section 108 – Meaning of ‘single-dwelling interest’
Section 109 – Different interests held in the same dwelling
Section 110 – Interests held by connected persons
Section 111 – Different Interests held in the same dwelling – effect of reliefs etc
Section 112 – Meaning of “dwelling”
Section 113 - Substantial performance of “off-plan” purchase
Section 114 – Power to modify meaning of “use as a dwelling”
Section 115 – Parts of a greater whole
Section 116 – Dwelling in Grounds of another Dwelling
Section 117 – Dwellings in the same building
Section 118 – Section 117: supplementary
Section 119 – Terraces etc
Section 120 – Acquisitions and disposals of chargeable interests
Section 121 – Date of acquisition or disposal
Section 122 – Contract and conveyance: the purchaser
Section 123 – Contract and conveyance: the vendor
Section 124 – New dwellings
Section 125 – Dwellings produced from other dwellings
Section 126 – Demolition of a dwelling
Section 127 – Demolition without replacement
Section 128 – Demolition and replacement: new dwellings
Section 129 – Demolition and replacement: other cases
Section 130 – Conversion of dwelling for non-residential use
Section 131 – Damage to a dwelling
Section 132 – Effect of Reliefs under Sections 133-150
Section 133 – Property rental businesses
Section 134 - Rental property: preparation for sale, demolition etc
Section 135 – Non-qualifying occupation: look forward and look back
Section 136 – Meaning of “non-qualifying individual”
Section 137 – Dwellings open to the public
Section 138 – Property developers
Section 139 –Property developers: exchange of dwellings
Section 140 – Property developers: supplementary
Section 141 – Property traders
Section 142 – Property traders: supplementary
Section 143 – Financial Institutions acquiring dwellings in the course of lending
Section 144 - Section 143: supplementary
Section 145 – Occupation by certain employees or partners
Section 146 – Meaning of “qualifying employee” and “qualifying partner” in Section 145
Section 147 – Meaning of “10% or greater share in a company”
Section 148 – Farmhouses
Section 149 – “Farm worker” and “former long-serving farm worker”
Section 150 – Providers of social housing
Section 151 – Charitable companies
Section 152- Section 151: supplementary
Section 153 – Public bodies
Section 154 – Bodies established for national purposes
Section 155 – Dwelling conditionally exempt from inheritance tax
Section 156 – Modification of reliefs
Section 157 – Land sold to a financial institution and leased to a person
Section 158 – Responsibility for collection and management
Section 159 – Annual Tax on Enveloped Dwellings return
Section 160 – Return of adjusted chargeable amount
Section 161 – Return to include self-assessment
Section 162 – Returns, enquiries, assessments and other administrative matters
Section 163 – Payment of tax
Section 164 – Information and enforcement
Section 165 – Collection and recovery of tax etc
Section 166 – Companies
Section 167 – Partnerships
Section 168 – Miscellaneous amendments and transitory provisions
Section 169 – Orders and regulations
Section 170 – Meaning of “chargeable day” and “within the charge”
Section 171 – References to the state of affairs “on” a day
Section 172 – Connected persons
Section 173 – Connected persons: cell companies
Section 174 – General interpretation of Part 3
Schedule 33: Annual Tax on Enveloped Dwellings: Returns, Enquiries, Assessments and Appeals
Part 1: Returns
Part 4: HMRC determination where no return delivered
Part 5: HMRC Assessments
Part 6: Relief in case of overpaid tax or excessive assessment
Part 7: Reviews and Appeals
Schedule 34: Annual Tax on Enveloped Dwellings: Information and Enforcement
Part 1: Information and Inspection Powers
Part 2: Penalties
Schedule 35: Annual Tax on Enveloped Dwellings: Miscellaneous Amendments and Transitory Provision
Part 1: Miscellaneous amendments
Part 2: Transitory provision
Section 175: Open Ended Investment Companies and Authorised Unit Trusts
Section 176, Schedule 36: Treatment of Liabilities for Inheritance Tax Purposes
Section 177: Election to Be Treated as Domiciled in United Kingdom
Section 178: Transfer to Spouse Or Civil Partner Not Domiciled in United Kingdom
Section 179: Fuel Duties: Rates and Rebates from 1 April 2013
Section 180: Rates of Alcoholic Liquor Duties
Section 181: Rates of Tobacco Products Duty
Section 182: Meaning of “Tobacco Products”
Section 183: Rates of Gaming Duty
Section 184: Combined Bingo
Section 185: Air Passenger Duty: Rates of Duty from 1 April 2013
Section 186: Air Passenger Duty: Miscellaneous Provision
Section 187: Ved Rates for Light Passenger Vehicles, Light Goods Vehicles, Motorcycles Etc
Section 188: Not Exhibiting Licence: Period of Grace
Section 189: Vehicles Not Kept Or Used on Public Road
Section 190, Schedule 37: vehicle Licences for Disabled People
Section 191: Repayments of Value Added Tax to Health Service Bodies
Section 192, Schedule 38: Valuation of Certain Supplies of Fuel
Section 193: VAT: Reduced Rate for Energy-Saving Materials
Section 194: Pre-Completion Transactions: Existing Cases
Section 195 Schedule 37: Stamp Duty Land Tax: Pre-Completion Transactions
Meaning of “pre-completion transactions” and associated terms
Other key expressions in relation to pre-completion transactions
Assignments of rights: application of rules about consideration and completion
Assignment of rights: transferor deemed to make a separate acquisition
Effect of rescission, annulment etc of the original contract on SDLT charged on a notional land transaction under paragraph 5(1)
Assignments of rights of a part of the subject-matter of the original contract
Assignments of rights: identity of “the vendor”
Free-standing transfers: application of rules about consideration and substantial performance
Free-standing transfers and pre-completion transactions where there is mixture of both assignments of rights and free-standing transfers: identity of “the vendor”
Other key expressions for the purposes of paragraph 10
Calculation of minimum amounts for the purposes of the minimum consideration rule
Calculation of the second minimum amount for the purposes of the minimum consideration rule
Relief for the original purchaser in assignment of rights cases
Relief for the original purchaser in qualifying subsale cases
Relief for successive subsales
Exclusion of transactions from duty to make returns etc
Section 196, Schedule 40: Stamp Duty Land Tax Relief from 15% Rate
Section 197 and Schedule 41: Stamp Duty Land Tax: Leases
Section 198: Standard Rate of Landfill Tax
Section 199: Climate change levy: MAIN RATES
Section 200, Schedule 42: Climate Change Levy: Supplies Subject to Carbon Price Support Rates Etc.
Part 1 – Earlier provision not to have effect
Part 2 – New provisions having effect from 1 April 2013
Part 3 – Carbon price support rates from 1 April 2014
Part 4 – Carbon price support rates from 1 April 2015
Section 201: Insurance Premium Tax: Contracts That are Not Taxable
Section 202: Bank Levy: Rates from 1 January 2013
Section 203: Bank Levy: Rates from 1 January 2014
Section 204: No Deductions for UK Or Foreign Bank Levies
Section 205 Bank Levy Definition of High Quality Liquid Assets
Sections 206 – 215, Schedule 43: General Anti-Abuse Rule
Section 216, Schedule 44: Vulnerable Beneficiary Trusts
Section 217: Unauthorised unit trusts
Section 218, Schedule 45: Statutory Residence Test
Special rules for trading income
Section 219, Schedule 46: Ordinary Residence
Income tax and capital gains tax: remittance basis of taxation
Income tax: arising basis of taxation
Capital gains tax: accruals basis of taxation
Section 220, Schedule 47: Controlled Foreign Companies Etc
Accounting periods ending before 20 March 2013
Accounting periods ending on or after 20 March 2013
Section 221: Agreement between UK and Switzerland
Section 222: International Agreements to Improve Tax Compliance
Section 223: Disclosure of Tax Avoidance Schemes
Section 224, Schedule 48: Powers under the Proceeds of Crime Act 2002
Section 225: Definition of “Goods” for Certain Customs Purposes
Section 226: Detention of Excise Goods
Section 227: Penalty Instead of Forfeiture of Larger Ships
Section 228: Data-Gathering from Merchant Acquirers Etc.
Section 229, Schedule 49: Corporation Tax: Deferral of Payment of Exit Charge
Section 230, Schedule 50: Penalties: Late Filing, Late Payment and Errors
Section 231: Overpayment Relief: Generally Prevailing Practice Exclusion and Eu Law
Section 232: Overpayment Relief: Time Limit for Claims
Section 233, Schedule 51: Withdrawing a Notice to File a Self Assessment Return
Section 234 Restrictions on Interim Payments in Proceedings Relating to Taxation Matters