Finance Act 1986
Finance Act 1986 (1986 c. 41)
- Finance Act 1986 (1986 c. 41)
- PART I Customs and Excise and Value Added Tax
- Chapter I Customs and Excise
- The rates of duty
- 1 Tobacco products.
- 2 Hydrocarbon oil.
- 3 Vehicles excise duty.
- Other provisions
- 4 Beer duty: minor amendments.
- 5 Warehousing regulations.
- 6 Betting duties and bingo duty in Northern Ireland.
- 7 Betting and gaming duties: evidence by certificate, etc.
- 8 Licences under the customs and excise Acts.
- Chapter II Value Added Tax
- 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Part II Income Tax, Corporation Tax and Capital Gains Tax
- Chapter I General
- Tax rates and main reliefs
- 16—22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 23 Employee share schemes: general amendments.
- 24 Approved profit sharing schemes: workers’ co-operatives.
- 25—32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Foreign element: expenses
- 34—54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Chapter II Capital Allowances
- 55—57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Chapter III CAPITAL GAINS
- 58 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 59 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 60 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Chapter IV Securities
- 61—63. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- PART III STAMP DUTY
- Securities
- 64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 66 Company's purchase of own shares
- Depositary receipts
- 67 Depositary receipts 1.5% charge
- 68 Depositary receipts: notification
- 69 Depositary receipts: supplementary
- Clearance services
- 70 Clearance services 1.5% charge
- 71 Clearance services: notification
- 72 Clearance services: supplementary
- Meaning of “exempt capital-raising instrument” and “exempt listing instrument”
- 72ZA Meaning of “exempt capital-raising instrument”
- 72ZB Meaning of “exempt listing instrument”
- Transfers between depositary receipt system and clearance system
- 72A Transfers between depositary receipt system and clearance system.
- Reconstructions and acquistions
- 73 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 74 Reconstructions etc: repeals.
- 75 Acquisitions: reliefs.
- 76 Acquisitions: further provisions about reliefs.
- 77 Acquisition of target company's share capital
- 77A Disqualifying arrangements
- Loan capital, letters of allotment etc.
- 78 Loan capital.
- 79 Loan capital: new provisions.
- 80 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 80A Sales to intermediaries.
- 80B Intermediaries: supplementary.
- 80C Repurchases and stock lending.
- 80D Repurchases and stock lending: replacement stock on insolvency
- 81 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 82 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 83 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 84 Miscellaneous exemptions
- 85 Supplementary
- Resolution of financial institutions
- 85A Resolution of financial institutions
- Part IV Stamp Duty Reserve Tax
- Introduction
- 86 The tax: introduction
- The principal charge
- 87 The principal charge
- 88 Special cases.
- 88A Section 87: exceptions for intermediaries.
- 88B Intermediaries: supplementary.
- 89 Section 87: exceptions for market makers etc.
- 89A Section 87: exceptions for public issues.
- 89AA Section 87: exception for repurchases and stock lending.
- 89AB Section 87: exception for repurchases and stock lending in case of insolvency
- 89B Section 87: exceptions for stock lending and collateral security arrangements.
- 89C Section 87: UK listing relief
- 90 Section 87: other exceptions
- 91 Liability to tax
- 92 Repayment or cancellation of tax
- Other charges : depositary receipts
- 93 Depositary receipts : 1.5% charge
- 94 Depositary receipts: supplementary
- 95 Depositary receipts: exceptions
- 95A Depositary receipts: exception for replacement securities.
- Other charges: clearance services
- 96 Clearance services : 1.5% charge
- 97 Clearance services: exceptions
- 97ZA Clearance services: exception for replacement securities.
- 97A Clearance services: election for alternative system of charge.
- Depositary receipts and clearance services: further exceptions
- 97AB Exempt capital-raising transfers
- 97AC Exempt listing transfers
- 97AD Exception for transfers of shares held by issuing company
- 97B Transfer between depositary receipt system and clearance system.
- 97C Transfers to non-EU depositary receipt and clearance services systems
- General
- 98 Administration etc.
- 99 Interpretation
- 99A Section 99(4B): “listed” and “recognised growth market”
- PART V INHERITANCE TAX
- 100 Capital transfer tax to be known as inheritance tax.
- 101 Lifetime transfers potentially exempt etc.
- 102 Gifts with reservation.
- 102ZA Gifts with reservation: termination of interests in possession
- 102A Gifts with reservation: interest in land.
- 102B Gifts with reservation: share of interest in land.
- 102C Sections 102A and 102B: supplemental.
- 103 Treatment of certain debts and incumbrances.
- 104 Regulations for avoiding double charges etc.
- 105 Application of business and agricultural relief where transfer partly exempt.
- 106 Changes in financial institutions business property.
- 107 Changes in financial institutions: interest.
- PART VI OIL TAXATION
- 108 The on-shore/off-shore boundary.
- 109 Alternative valuation of light gases.
- 110 Attribution of certain receipts and expenditure between oil fields.
- Part VII Miscellaneous and Supplementary
- 111 Broadcasting: additional payments by programme contractors.
- 112 Limit for local loans.
- 113 “Securities” for purposes of Exchange Equalisation Account Act 1979.
- 114 Short title, interpretation, construction and repeals.
- Part I Provision Substituted for Part II of Schedule 2 to the Acts of 1971 and 1972
- Part II Tables Substituted in Part II of Schedule 4 to the Acts of 1971 and 1972
- Table A(1) Rates of Duty on Rigid Goods Vehicles Exceeding 12 Tonnes Plated Gross Weight
- Table C(1) Rates of duty on Tractor Units Exceeding 12 Tonnes Plated Train Weight and Having Only 2 Axles
- Table D(1) Rates of duty on Tractor Units Exceeding 12 Tonnes Plated Train Weight and Having Three or More Axles
- SCHEDULE 2 Vehicles Excise Duty: Miscellaneous Amendments
- Additional days to be included in duration of certain licences
- Tower wagons used by street lighting authorities etc.
- Visiting forces
- Trade licences
- Surrender of licences
- Removal of fee for duplicate registration document
- Additional days to be included in duration of certain licences
- Tower wagons used by street lighting authorities etc.
- Trade licences
- Surrender of licences
- Removal of fee for duplicate registration document
- SCHEDULE 3 Warehousing Regulations
- SCHEDULE 4 Extension to Northern Ireland of Provisions of Betting and Gaming Duties Act 1981
- Part I Amendments of the Betting and Gaming Duties Act 1981
- General betting duty and pool betting duty
- Bingo duty
- General
- Administration of betting duties
- Exemptions from, and administration of, bingo duty
- Part II Consequential Amendments of Northern Ireland Legislation
- Part III Subordinate Legislation
- SCHEDULE 5 Licences Under the Customs and Excise Acts
- General provisions as to payment of duty on excise licences
- Licences to manufacture spirits
- Licences relating to hydrocarbon oil etc.
- Licences to manufacture mechanical lighters
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- SCHEDULE 9 Business Expansion Scheme
- Part II Consequential Amendments
- SCHEDULE 18 Securities: Other Provisions
- Sale and re-purchase of securities
- Information
- Miscellaneous
- General
- SCHEDULE 19 INHERITANCE TAX
- PART I AMENDMENTS OF 1984 ACT
- PART II TRANSITIONAL PROVISIONS
- SCHEDULE 20 GIFTS WITH RESERVATION
- Interpretation and application
- Donee predeceasing the material date
- Termination of interests in possession
- Settled gifts
- Exclusion of benefit
- Agricultural property and business property
- SCHEDULE 21 Modifications of Finance Act 1982, Schedule 18 in Relation to Elections Under Section 109 of this Act
- General modifications
- Specific modifications
- SCHEDULE 22 Broadcasting: Additional Payments by Programme Contractors
- Part I Amendment of Broadcasting Act 1981
- PART II Transitional Provisions
- SCHEDULE 23 Repeals
- Part I Customs and Excise: Miscellaneous
- Part II Vehicles Excise Duty
- Part III Betting and Gaming Duties
- Part IV Licences Under the Customs and Excise Acts
- Part V Income Tax and Corporation Tax: General
- Part VI Income Tax and Corporation Tax: Capital Allowances
- Part VII Capital Gains
- Part VIII Securities
- Part IX Stamp Duty
- Part X Inheritance Tax
- Part XI Broadcasting: Additional Payments by Programme Contractors
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