Finance Act 1987
Finance Act 1987 (1987 c. 16)
- Finance Act 1987 (1987 c. 16)
- Part 1 Customs and Excise and Value Added Tax
- Chapter I Customs and Excise
- Duties of excise
- 1 Unleaded petrol.
- 2 Part I Vehicles excise duty.
- 3 Abolition of general betting duty on on-course bets.
- 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 5 Gaming machine licence duty: other amendments.
- Amendments of the Management Act
- 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 7 Powers of search and access etc. in respect of vehicles. 1979 c. 2.
- 8 Local export control.
- 9 Records relating to importation and exportation.
- 10 Information powers.
- Chapter II Value Added Tax
- 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Part II Income Tax, Corporation Tax and Capital Gains Tax
- Chapter I General
- 20–39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 41–46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 47 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Part III Stamp Duty and Stamp Duty Reserve Tax
- Stamp duty
- 48 Unit trusts.
- 49 Contract notes.
- 50 Warrants to purchase Government stock, etc.
- 51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 52 Clearance services
- 53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 54 Shared ownership transactions.
- 55 Crown exemption.
- 56 Stamp duty reserve tax
- Part IV Inheritance Tax
- 57 Reduced rates of tax.
- 58 Securities, other business property and agricultural property.
- 59 Maintenance funds for historic buildings etc.
- 60 Acceptance in lieu: waiver of interest.
- Part V Oil Taxation
- 61 Nomination of disposals and appropriations.
- 62 Market value of oil to be determined on a monthly basis.
- 63 Blends of oil from two or more fields.
- 64 Relief for research expenditure.
- 65 Cross-field allowance of certain expenditure incurred on new fields.
- 66 Oil allowance: adjustment for final periods.
- 67 Variation of decisions on claims for allowable expenditure.
- Part VI Miscellaneous and Supplementary
- 68 Abolition of enactments relating to exchange control.
- 69 Regulation of financial dealings.
- 70 Arrangements specified in Orders in Council relating to double taxation relief etc.
- 71 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 72 Short title, interpretation, construction and repeals.
- SCHEDULES
- SCHEDULE 1 Vehicles Excise Duty
- Part II Recovery Vehicles
- Interpretation
- Exclusion of recovery vehicles from trade licences
- Part III Miscellaneous Amendments
- Introductory
- Additional liability for evasion of duty
- Offences relating to trade licences
- Regulations concerning transfer etc. of vehicles
- Increase of certain penalties for offences under regulations
- Dishonoured cheques
- SCHEDULE 2 Amendments of Value Added Tax Act 1983
- Supplies received from abroad
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Transfers of going concerns
- Appeals
- SCHEDULE 7 Stamp Duty Reserve Tax
- Principal charge
- Renounceable letters of allotment, etc.
- Market makers in options
- Clearance services
- Charities etc.
- Interest on tax repayments
- SCHEDULE 8 Securities, Other Business Property and Agricultural Property
- SCHEDULE 9 Maintenance Funds for Historic Buildings etc.
- SCHEDULE 10 Nomination Scheme for Disposals and Appropriation
- Interpretation
- Transactions which may be nominated
- Period for which nomination has effect
- Timing of nominations
- Content of nomination
- Nominated price
- Nominal volume
- Revision of nominations
- Effective volume for nominated transactions
- Aggregate effective volume for a month
- Aggregate nominated proceeds for a month
- Blended oil
- Interpretation
- Returns
- SCHEDULE 11 Market Value of Oil
- Part I Amendments of Paragraphs 2, 2a and 3 of Schedule 3 to Principal Act
- Part II Consequential Amendments of Principal Act
- SCHEDULE 12 Supplementary Provisions as to Blended Oil
- Interpretation
- Method of allocation not suitable
- Appeals
- SCHEDULE 13 Relief for Research Expenditure
- Part I Section to be Inserted After Section 5A of the Principal Act
- Part II Amendments Relating to the New Allowance
- The principal Act
- The Petroleum Revenue Tax Act 1980
- The Finance Act 1980
- The Finance Act 1981
- The Finance Act 1984
- Part III Receipts to be Set Against Allowable Expenditure
- SCHEDULE 14 Cross-Field Allowance
- Part I Elections
- General
- Earliest date for an election
- Latest date for election
- Two or more elections relating to same expenditure
- Part II Effect on Receiving Field
- Part III Relevant New Fields and Associated Companies
- Relevant new fields
- Associated companies
- Part IV Supplemental and Consequential Provisions
- Notice of variation reducing expenditure qualifying for supplement
- Elections following variation increasing expenditure qualifying for supplement
- Limit on amount of tax payable in respect of receiving field
- SCHEDULE 15 Pre-Consolidation Amendments: Income Tax and Corporation Tax
- The Interpretation Act 1978 (c. 30)
- SCHEDULE 16 Repeals
- Part I Vehicles Excise Duty
- Part II Betting and Gaming Duties
- Part III Management of Customs and Excise
- Part IV Value Added Tax
- Part V Income Tax and Corporation Tax: General
- Part VI Unit Trusts
- Part VII Income Tax and Corporation Tax: Pre-Consolidation Amendments
- Part VIII Stamp Duty
- Part IX Inheritance Tax
- Part X Oil Taxation
- Part XI Exchange Control
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