Finance Act 2006
Finance Act 2006 (2006 c. 25)
- Finance Act 2006 (2006 c. 25)
- Part 1 Excise duties
- Tobacco products duty
- 1 Rates of tobacco products duty
- 2 Tobacco products duty: evasion
- Alcoholic liquor duties
- 3 Rate of duty on beer
- 4 Rates of duty on wine and made-wine
- 5 Repeal of provisions of ALDA 1979 of no practical utility etc
- Hydrocarbon oil duties
- 6 Rates until 1st September 2006
- 7 Rates from 1st September 2006
- 8 Road vehicles
- Betting and gaming duties
- 9 General betting duty: gaming machines
- 10 Rates of gaming duty
- Amusement machine licence duty
- 11 Definition of “gaming machine”
- 12 Classes of machine and rates of duty
- Vehicle excise duty
- 13 Rates
- 14 Reduced pollution certificates
- 15 Late renewal supplement
- Part 2 Value added tax
- Gaming machines
- 16 Gaming machines
- Land
- 17 Buildings and land
- Imported works of art etc
- 18 Value of imported works of art etc: auctioneer's commission
- Avoidance and fraud
- 19 Missing trader intra-community fraud
- 20 Power to inspect goods
- 21 Directions to keep records where belief VAT might not be paid
- 22 Treatment of credit vouchers
- Part 3 Income tax, corporation tax and capital gains tax
- Chapter 1 Income tax and corporation tax: charge and rate bands
- Income tax
- 23 Charge and rates for 2006-07
- Corporation tax
- 24 Charge and main rate for financial year 2007
- 25 Small companies' rate and fraction for financial year 2006
- 26 Abolition of corporation tax starting rate and non-corporate distribution rate
- Chapter 2 Reliefs for business
- Group relief
- 27 Group relief where surrendering company not resident in UK
- Research and development
- 28 Relief for research and development: subjects of clinical trials
- 29 Claims for relief for research and development
- Capital allowances
- 30 Temporary increase in amount of first-year allowances for small enterprises
- Chapter 3 Films and sound recordings
- Introductory
- 31 Meaning of “film” and related expressions
- 32 Meaning of “film production company”
- 33 Meaning of “film-making activities” etc
- 34 Meaning of “production expenditure” and related expressions
- 35 Meaning of “UK expenditure”
- 36 Meaning of “qualifying co-production” and “co-producer”
- Taxation of activities of film production company
- 37 Taxation of activities of film production company
- Film tax relief
- 38 Films qualifying for film tax relief
- 39 Conditions of relief: intended theatrical release
- 40 Conditions of relief: British film
- 41 Conditions of relief: UK expenditure
- 42 Film tax relief: further provisions
- Film losses
- 43 Films: restriction on use of losses while film in production
- 44 Films: use of losses in later periods
- 45 Films: terminal losses
- Films: withdrawal of existing reliefs
- 46 Films: withdrawal of existing reliefs (corporation tax)
- 47 Films: withdrawal of existing reliefs (income tax)
- Corporation tax treatment of sound recordings
- 48 Sound recordings: revenue nature of expenditure
- 49 Sound recordings: allocation of expenditure
- 50 Sound recordings: interpretation
- Supplementary provisions
- 51 Corporation tax: films and sound recordings as intangible fixed assets
- 52 Films: application of provisions to certain films already in production
- 53 Films and sound recordings: commencement and power to alter dates
- Chapter 4 Charities
- 54 Transactions with substantial donors
- 55 Non-charitable expenditure
- 56 Trade profits
- 57 Gift aid relief for companies wholly owned by one or more charities
- 58 Extension of restrictions on gift aid payments by close companies
- Chapter 5 Personal taxation
- Cars
- 59 Cars with a CO2 emissions figure
- Mobile telephones and computers
- 60 Mobile telephones
- 61 Computer equipment
- Eye care
- 62 Exemption for employees' eye tests and special glasses
- Vouchers and tokens
- 63 Power to exempt use of vouchers or tokens to obtain exempt benefits
- Holocaust victims
- 64 Payments to or in respect of victims of National-Socialist persecution
- Chapter 6 The London Olympic Games and Paralympic Games
- 65 London Organising Committee
- 66 Section 65: supplementary
- 67 International Olympic Committee
- 68 Competitors and staff
- Chapter 7 Chargeable gains
- Capital losses
- 69 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 70 Restrictions on companies buying losses or gains
- 71 Other avoidance involving losses accruing to companies
- 72 Repeal of s.106 of TCGA 1992
- Insurance policies and annuities
- 73 Policies of insurance and non-deferred annuities
- Capital gains tax
- 74 Exception to “bed and breakfasting” rules etc
- Chapter 8 Avoidance: miscellaneous
- Film partnerships
- 75 Interest relief: film partnership
- Financial instruments
- 76 Avoidance involving financial arrangements
- Intangible fixed assets
- 77 Treating assets as “existing assets” etc
- International matters
- 78 Controlled foreign companies and treaty non-resident companies
- 79 Transfer of assets abroad
- Pre-owned assets
- 80 Restriction of exemption from charge to income tax
- Chapter 9 Miscellaneous provisions
- Leasing of plant or machinery
- 81 Leases of plant or machinery
- Sale of lessors
- 82 Sale etc of lessor companies etc
- 83 Restrictions on use of losses etc: leasing partnerships
- 84 Disposal of plant or machinery subject to lease where income retained
- 85 Restrictions on effect of elections under section 266 of CAA 2001
- Insurance companies and policyholders
- 86 Insurance companies
- 87 Qualifying policies: altering method for calculating benefits
- Settlements
- 88 Settlements, etc: chargeable gains
- 89 Settlements, etc: income
- 90 Special trusts tax rates not to apply to social landlords' service charge income
- Investment reliefs
- 91 Venture capital schemes
- Employment-related securities
- 92 Avoidance using options etc
- 93 Corporation tax relief for shares acquired under EMI option
- PAYE
- 94 PAYE: retrospective notional payments
- Alternative finance arrangements
- 95 Profit share agency
- 96 Diminishing shared ownership
- 97 Beneficial loans to employees
- 98 Orders amending Chapter 5 of Part 2 of FA 2005
- Nuclear decommissioning
- 99 Amendment of section 29 of the Energy Act 2004
- 100 Amendment of section 30 of the Energy Act 2004
- Accounting practice
- 101 Securitisation companies
- 102 Accountancy change: spreading of adjustment
- Part 4 Real Estate Investment Trusts
- Introduction
- 103 Real Estate Investment Trusts
- 104 Property rental business
- 105 Other key concepts
- 106 Conditions for company
- 107 Conditions for tax-exempt business
- 108 Conditions for balance of business
- Entering Real Estate Investment Trust Regime
- 109 Notice
- 110 Duration
- 111 Effects of entry
- 112 Entry charge
- Assets etc
- 113 Ring-fencing of tax-exempt business
- 114 Maximum shareholding
- 115 Profit: financing-cost ratio
- 116 Minor or inadvertent breach
- 117 Cancellation of tax advantage
- 118 Funds awaiting re-investment
- Profits
- 119 Corporation tax
- 120 Calculation of profits
- 121 Distributions: liability to tax
- 122 Distributions: deduction of tax
- 123 Attribution of distributions
- Capital gains
- 124 Corporation tax
- 125 Movement of assets out of ring-fence
- 126 Movement of assets into ring-fence
- 126A Demergers
- 127 Interpretation
- Leaving Real Estate Investment Trust Regime
- 128 Termination by notice: company
- 129 Termination by notice: Commissioners
- 130 Automatic termination for breach of requirement
- 131 Effects of cessation
- 132 Early exit by notice
- 133 Early exit
- Groups
- 134 Group Real Estate Investment Trusts
- 135 Transfer within group
- 136 Availability of group reliefs
- Miscellaneous
- 136A Connected persons
- 137 Insurance companies
- 138 Joint ventures
- 139 Manufactured dividends
- 140 Penalties for failure to give notice, etc
- 141 Effect of deemed disposal and re-acquisition
- 142 Interpretation
- 143 Housing investment trusts: repeal
- General
- 144 Regulations
- 145 Commencement
- Part 5 Oil
- New basis for determining market value
- 146 New basis for determining the market value of oil
- 147 Section 146: commencement and transitional provisions
- Attribution of blended crude oil
- 148 Crude oil: power to make regulations
- Nomination scheme
- 149 Nomination scheme
- 150 Amendment of Schedule 10 to FA 1987
- 151 Nomination excesses and corporation tax
- Ring fence trades
- 152 Increase in rate of supplementary charge
- 153 Election to defer capital allowances
- 154 Ring fence expenditure supplement
- Part 6 Inheritance tax
- Future rates and bands
- 155 Rates and rate bands for 2008-09 and 2009-10
- Trusts
- 156 Rules for trusts etc
- 157 Purchase of interests in foreign trusts
- Part 7 Pensions
- 158 Taxable property held by investment-regulated pension schemes
- 159 Recycling of lump sums
- 160 Inheritance tax
- 161 Miscellaneous
- Part 8 Stamp taxes
- Stamp duty and stamp duty land tax: thresholds
- 162 Raising of thresholds
- Stamp duty land tax
- 163 Partnerships
- 164 Leases
- 165 Reallocation of trust property as between beneficiaries
- 166 Unit trust schemes
- 167 Demutualisation of insurance companies
- 168 Alternative finance
- Stamp duty
- 169 Reliefs for certain company acquisitions
- Part 9 Miscellaneous provisions
- Landfill tax
- 170 Rate of landfill tax
- Climate change levy
- 171 Climate change levy: rates
- 172 Abolition of half-rate supplies etc
- International tax arrangements
- 173 International tax enforcement arrangements
- 174 Arrangements under section 173: information powers
- 175 Arrangements under section 173: recovery of debts
- 176 Double taxation agreements: procedure
- Disclosure of information
- 177 Disclosure of information
- Part 10 Supplementary provisions
- 178 Repeals
- 179 Interpretation
- 180 Short title
- SCHEDULES
- SCHEDULE 1 Group relief where surrendering company not resident in UK
- Part 1 Amendments of Chapter 4 of Part 10 of ICTA
- Availability of relief
- Limits on group relief
- Relief for or in respect of non-resident companies within the charge to corporation tax
- Relief in respect of overseas losses of non-resident companies
- Interpretation of Chapter 4 of Part 10 of ICTA
- Group relief: equity holders and profits or assets available for distribution
- Meaning of conditions in section 403F etc
- Part 2 Amendments of other enactments
- Claims for group relief
- Part 3 Commencement
- Commencement
- SCHEDULE 2 Relief for research and development: subjects of clinical trials
- Amendments to Schedule 20 to FA 2000
- Amendments to Schedule 12 to FA 2002
- Amendments to Schedule 13 to FA 2002
- SCHEDULE 3 Claims for relief for research and development
- Introductory
- Claims to be included in return
- Claims for R&D tax relief
- Claims for relief under Schedule 12 to FA 2002
- Claims for relief under Schedule 13 to FA 2002
- Commencement and transitional provision
- SCHEDULE 4 Taxation of activities of film production company
- Films to which this Schedule applies
- Activities treated as separate trade
- When the trade begins
- Pre-trading expenditure
- Costs of the film
- Income from the film
- Calculation of profit or loss
- Estimates
- When costs are taken to be incurred
- Exclusion of expenditure relieved under other provisions
- SCHEDULE 5 Film tax relief: further provisions
- Part 2 Certification of British films for purposes of film tax relief
- Confidentiality of information
- Wrongful disclosure
- Part 3 Consequential amendments
- Interest
- Claim to be made in tax return
- Recovery of excessive film tax credit
- Claims for film tax credits
- SCHEDULE 6 Avoidance involving financial arrangements
- Repeal of rent factoring provisions
- Dividend stripping: subsequent sales etc of rights to receive dividends etc
- Deemed interest: cash collateral under stock lending arrangements
- Quasi-stock lending arrangements and quasi-cash collateral
- Multiple holders of securities subject to sale and repurchase agreement: no relief for deemed manufactured payments
- Structured finance arrangements: factoring of income receipts etc
- Rent factoring of leases of plant or machinery
- Transactions associated with loans or credit
- Structured finance arrangements: chargeable gains treatment of acquisitions and disposals
- Loan relationships: mandatory convertibles
- Loan relationships: computation in accordance with generally accepted accounting practice
- Loan relationships: amounts not fully recognised for accounting purposes
- Shares treated as loan relationships: shares subject to outstanding third party obligations
- Shares treated as loan relationships: application of rules to non-qualifying shares
- Shares treated as loan relationships: redeemable shares
- Creditor relationships and benefit derived by connected persons
- Loan relationships: money debts etc not arising from the lending of money
- Loan relationships: meaning of “fair value” in Chapter 2 of Part 4 of FA 1996
- Loan relationships: continuity of treatment of groups etc
- Loan relationships: repo and stock-lending arrangements
- Derivative contracts: computation in accordance with generally accepted accounting practice
- Derivative contracts: transactions within groups
- Derivative contracts: transactions within groups (fair value accounting)
- Derivative contracts: meaning of “fair value” in Schedule 26 to FA 2002
- SCHEDULE 7 Transfer of assets abroad
- Income and Corporation Taxes Act 1988
- Amendments of ICTA: introductory
- Section 741: application subject to sections 741B and 741C
- Exemption from sections 739 and 740: new provision
- Application of sections 741 and 741A
- Just and reasonable apportionment in certain cases
- Section 742: interpretation of the Chapter
- ITTOIA 2005
- Gains from contracts for life insurance etc
- SCHEDULE 8 Long funding leases of plant or machinery
- Part 1 Capital allowances
- Introductory
- Use for other qualifying activity of plant or machinery previously used for long funding leasing
- Expenditure on plant or machinery for long funding leasing not to be qualifying expenditure
- General exclusions applying to certain sections
- Commencement of leasing under long funding lease: disposal events and disposal values
- Lessee under long funding lease: capital allowances, disposal events and disposal values
- Interpretation of provisions relating to long funding leases
- Cases in which short-life asset treatment is ruled out
- Fixtures
- Part 2 Corporation tax
- Introductory
- Special rules for long funding leases
- Part 3 Income tax
- Introductory
- Special rules for long funding leases
- Application of Chapter 10A for calculating the profits of a property business
- Part 4 Commencement and transitional provisions
- Commencement
- Election for lease to be treated as long funding lease for tax purposes
- Excepted leases
- Extended time limit: the additional conditions
- Events beyond the control of the parties etc
- Pre-existing heads of agreement relating to two or more assets
- Expenditure incurred before passing of this Act where lease is not an excepted lease
- When expenditure is incurred for the purposes of paragraph 21
- When a lease is “finalised”
- When an asset is “under construction”
- Combined assets and constituent assets
- Mixed leases
- Interpretation of this Part
- SCHEDULE 9 Leases of plant or machinery: miscellaneous amendments
- Income and Corporation Taxes Act 1988
- Petroleum extraction activities: sale and leaseback
- Supplementary charge in respect of ring fence trades
- Leased assets: special cases
- Taxation of Chargeable Gains Act 1992
- Long funding leases: deemed disposals and re-acquisitions
- Restriction of losses: long funding leases of plant or machinery
- Definition of market value
- Finance Act 1997
- Leasing arrangements
- Finance Act 2000
- Tonnage tax: introductory
- Meaning of “finance costs”
- Capital allowances: ship leasing
- Capital Allowances Act 2001
- Withdrawal of first year allowances for lessors of certain plant or machinery
- Plant or machinery treated as owned by person entitled to benefit of contract etc
- Phasing out of overseas leasing rules
- Anti-avoidance: meaning of “finance lease”
- Capital allowances: allocation of expenditure to a chargeable period
- SCHEDULE 10 Sale etc of lessor companies etc
- Part 1 Introduction
- Contents of Schedule
- Commencement
- Part 2 Leasing business carried on by a company alone
- Income and matching expense in different accounting periods
- Amount of income and expense
- No carry back of the expense
- Meaning of “business of leasing plant or machinery”
- Provision for the purposes of condition A in paragraph 6
- Provision for the purposes of condition B in paragraph 6
- Meaning of “associated company”
- Meaning of “a qualifying change of ownership” in relation to a company
- Qualifying 75% subsidiaries
- Consortium relationships
- No qualifying change of ownership in the case of certain intra-group reorganisations
- No qualifying change of ownership where principal company's interest in consortium company unchanged
- Meaning of “company owned by a consortium” etc
- Meaning of qualifying 75% or 90% subsidiary etc
- The amount of the income: the basic amount
- Meaning of “PM” in paragraph 16
- Meaning of “TWDV” in paragraph 16
- Amount to be nil if basic amount negative
- Adjustment to basic amount: qualifying 75% subsidiaries
- Adjustment to the basic amount: consortium relationships
- Migration
- Part 3 Leasing business carried on by a company in partnership
- Change in company's interest in business: income treated as received etc
- Amount of income and expense
- Meaning of “business of leasing plant or machinery”
- Meaning of “associated company”
- Meaning of “qualifying change” in company's interest in a business
- Determining the percentage share in the profits or loss of business
- The amount of the income: the basic amount
- Amount to be nil if basic amount negative
- Adjustment of basic amount
- Amount of expense
- Income and matching expense in different accounting periods
- Amount of income and expense
- No carry back of the expense
- Amount of the income
- Meaning of “profits” etc
- Part 4 Miscellaneous
- Anti-avoidance
- Relief for expense under paragraph 3 , 23(4A) or 33 otherwise giving rise to carried forward loss
- Relationship of Schedule with section 228K of CAA 2001
- Definitions for purposes of Schedule
- Index of definitions
- Consequential amendments
- SCHEDULE 11 Insurance companies
- Continuing the effect of orders under section 431A(3) of ICTA
- Section 432B apportionment: participating funds
- Transfers of business: excess of assets or liabilities
- Transfers of business: modification of s. 83(2B) of FA 1989
- Surpluses of mutual and former mutual businesses
- Receipts to be taken into account
- Changes in value of assets brought into account: non-profit companies
- Contingent loans
- SCHEDULE 12 Settlements: amendment of TCGA 1992 etc
- Part 1 Settlors, trustees and settlements
- Basic trust concepts
- Interests in settlements
- Part 2 Sub-fund settlements
- Part 3 Consequential and minor amendments
- Introduction
- General
- Residence of trustees
- Sub-fund settlements
- Amendments of other Acts
- SCHEDULE 13 Settlements: amendments to ICTA and ITTOIA 2005 etc
- Part 1 Principal amendments
- Part 2 Minor and consequential amendments
- SCHEDULE 14 Investment reliefs: venture capital schemes
- Part 1 Limits on gross assets of issuers of shares or securities
- Enterprise investment scheme
- Venture capital trusts
- Corporate venturing scheme
- Part 2 Rate of relief for investments in venture capital trusts
- Part 3 Enterprise investment scheme: maximum subscriptions and carry-back of relief
- Part 4 Lengthening of periods applicable to venture capital trusts
- Part 5 Venture capital trusts: meaning of “investments”
- SCHEDULE 15 Accountancy change: spreading of adjustment
- Part 1 Income tax
- Application of this Part of this Schedule
- Spreading of adjustment income
- Effect of cessation of business
- Election to accelerate charge
- Liability of personal representatives
- Meaning of “business”
- Application of provisions to partnerships
- Cases where spreading already available
- Part 2 Corporation tax
- Application of this Part of this Schedule
- Spreading of adjustment
- Accounting periods of less than twelve months
- Effect of other events bringing accounting period to an end
- Election to accelerate charge
- Meaning of “business” etc
- Application of provisions to partnerships
- SCHEDULE 16 Real Estate Investment Trusts: excluded business and income
- Part 1 Classes of business
- Part 2 Classes of income or profit
- Part 3 Power to amend
- SCHEDULE 17 Group Real Estate Investment Trusts: modifications
- Introduction
- General modification
- Conditions
- Entering Real Estate Investment Trust Regime
- Assets, etc
- Profits
- Capital gains
- Leaving Real Estate Investment Trust Regime
- Anti-avoidance
- Manufactured dividends
- Financial statements
- Non-UK resident members
- Takeovers
- Demergers
- SCHEDULE 18 Oil taxation: market value of oil
- Part 1 Amendments of the Oil Taxation Act 1975
- Introductory
- Assessable profits and allowable losses
- Allowance of exploration and appraisal expenditure
- Interpretation
- Date of delivery or appropriation for shipped oil not disposed of in sales at arm's length
- “The Board”
- Returns by participators
- Gas fractionation
- Aggregate market value of oil for purposes of section 2(5)
- Power to make regulations
- Part 2 Amendments of other enactments
- Finance (No. 2) Act 1987
- The designated fraction for the month
- Income and Corporation Taxes Act 1988
- Valuation of oil disposed of or appropriated in certain circumstances.
- SCHEDULE 19 Schedule to be inserted as Schedule 19C to ICTA
- SCHEDULE 20 Inheritance tax: rules for trusts etc
- Part 1 “Trusts for bereaved minors”, “age 18-to-25 trusts” and “accumulation and maintenance” trusts
- Trusts for bereaved minors and Age 18-to-25 trusts
- Section 71 of IHTA 1984 not to apply to property settled on or after 22nd March 2006
- Section 71 of IHTA 1984 to cease to apply to certain settled property from 6th April 2008
- Part 2 Interests in possession: when settled property is part of beneficiary's estate
- Aggregation with person's estate of property in which interest in possession subsists
- “Immediate post-death interests” and “transitional serial interests”
- Disabled persons' trusts: meaning of “disabled person's interest” and “disabled person”
- Part 3 Related amendments in IHTA 1984
- Commencement
- Deemed disposition where omission to exercise a right increases value of another person's estate or of settled property not aggregated with a person's estate
- Potentially exempt transfers: provision in consequence of section 71 of IHTA 1984 not applying to property settled on or after 22nd March 2006
- Person's “estate” not to include certain interests in possession
- Life assurance policies entered into before 22nd March 2006
- Tax where interest in possession ends, or is treated as ending, during beneficiary's life
- Non-aggregation with deceased person's estate of property in which he had interest in possession if property reverts to settlor or passes to settlor's spouse or civil partner etc
- Rate of tax on ending of interest in possession in property settled during settlor's life
- Property entering maintenance fund after death of person entitled to interest in possession
- “Relevant property” not to include property held on trust for a bereaved child
- “Relevant property” to include property held on employee trusts or newspaper trusts if certain interests in possession subsist in the property
- Certain interests in possession to which a person becomes entitled on or after 22nd March 2006 not to be “qualifying interests in possession” for purposes of Chapter 3 of Part 3 of IHTA 1984
- New meaning of “qualifying interest in possession” not to apply in section 72 of IHTA 1984
- No charge under sections 71B, 71E etc where property held on trusts for bereaved child becomes held on trusts for charitable purposes etc
- No postponement of commencement date of settlement where property settled on or after 22nd March 2006 unless settlor, or spouse or civil partner, has immediate post-death interest
- Protective trusts
- Alterations of capital etc of close company where participator holds shares etc in company as trustee of settled property in which an interest in possession subsists
- Close company's interest in possession treated as interest of its participators
- Distributions within two years of person's death out of property settled by his will
- Interpretation of IHTA 1984
- Part 4 Related amendments in TCGA 1992
- Part 5 Property subject to a reservation
- Part 6 Conditional exemption: relief from charges
- SCHEDULE 21 Taxable property held by investment-regulated pension schemes
- SCHEDULE 22 Pension schemes: inheritance tax
- Introductory
- Dispositions
- Secured pension funds
- Liability
- Delivery of accounts
- Payment
- Interest
- Interpretation
- Rates of tax
- Transitional
- SCHEDULE 23 Pension schemes etc: miscellaneous
- Introduction
- Meaning of “pension credit member” etc: person dying before discharge of liability
- Unauthorised payments: former members and sponsoring employers etc
- “Bridging” pensions
- Pension commencement lump sum: scheme pensions under money purchase arrangements
- Short service refund lump sum: protected rights etc.
- Refund of excess contributions lump sum: excess relief at source
- Annuity protection lump sum death benefit: benefits from unsecured pension fund
- Benefit crystallisation events: reaching 75 after designation for unsecured pension
- Availability of individual's lifetime allowance: previous benefit crystallisation events
- Overseas pension schemes: extension of migrant member relief
- Abatement
- Amendments and transitionals
- Transitional provision: uncrystallised rights under paragraph 9 to include separate lump sums
- Transitional protection: taking account of death benefits
- Transitional protection: right to take benefits before normal pension age
- Transitional provisions: minor corrections
- SCHEDULE 24 Stamp duty land tax: amendments of Schedule 15 to FA 2003
- Introduction
- Transfer of chargeable interest to a partnership
- Transfer of chargeable interest from a partnership
- Transfer of chargeable interest from a partnership to a partnership
- Transfer of partnership interest: restriction of charge to property-investment partnerships
- Prevention of double charge where money etc withdrawn from partnership
- Commencement
- SCHEDULE 25 Stamp duty land tax: amendments of Schedule 17A to FA 2003
- Introduction
- Agricultural tenancies variable under statutory provisions
- Backdated lease granted to tenant holding over
- Disapplication of “single lease” treatment where agreement for lease followed by grant
- Disapplication of “new lease” treatment for certain rent increases after fifth year
- Abnormal rent increase after fifth year
- Commencement
- SCHEDULE 26 Repeals
- Part 1 Excise duties
- Part 2 Value added tax
- Part 3 Income tax, corporation tax and capital gains tax
- Part 4 Real Estate Investment Trusts
- Part 5 Oil
- Part 6 Inheritance tax
- Part 7 Stamp taxes
- Part 8 Miscellaneous provisions
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