Finance Act 2010
Finance Act 2010 (2010 c. 13)
- Finance Act 2010 (2010 c. 13)
- Part 1 Charges, rates etc
- Income tax
- 1 Charge, main rates, thresholds and allowances etc for 2010-11
- Corporation tax
- 2 Charge and main rate for financial year 2011
- 3 Small profits rates and fractions for financial year 2010
- Capital gains tax
- 4 Increase in entrepreneurs' relief
- Capital allowances
- 5 Annual investment allowance
- Stamp duty land tax
- 6 Relief for first-time buyers
- 7 Rate in respect of residential property where consideration over £1m
- Inheritance tax
- 8 Rate bands
- Alcohol and tobacco
- 9 Rates of alcoholic liquor duties
- 10 Rates of tobacco products duty
- Vehicle excise duty
- 11 Rates for motorcycles
- Fuel duties
- 12 Fuel duties: rates and rebates from April 2010
- 13 Fuel duties: further changes in rates and rebates
- Other environmental taxes
- 14 Rates of air passenger duty
- 15 Standard rate of landfill tax
- 16 Rate of aggregates levy
- 17 Rates of climate change levy
- 18 Climate change levy: reduced-rate supplies
- Gambling
- 19 Rate of bingo duty
- 20 Rates of gaming duty
- 21 Amusement machine licence duty
- New taxes
- 22 Bank payroll tax
- 23 Pensions: high income excess relief charge
- Part 2 Anti-avoidance and revenue protection
- Losses, capital allowances etc
- 24 Sideways relief etc
- 25 Property loss relief
- 26 Capital allowance buying
- 27 Leased assets
- 28 Cushion gas
- 29 Sale of lessors: consortium relationships
- Charities etc
- 30 Charities and community amateur sports clubs: definitions
- 31 Gifts of shares etc to charities
- 32 Miscellaneous amendments
- Remittance basis
- 33 “Relevant person”
- 34 Foreign currency bank accounts
- Other international matters
- 35 Penalties: offshore income etc
- 36 Reliefs and reductions for foreign tax
- 37 Asset transfer to non-resident company: recovery of postponed charge
- Securities etc
- 38 Transactions in securities
- 39 Approved CSOP schemes: eligible shares
- 40 Unauthorised unit trusts
- 41 Index-linked gilt-edged securities
- 42 Approved share incentive plans
- Loan relationships and derivative contracts
- 43 Close companies: release of loans to participators etc
- 44 Connected companies: releases of debts
- 45 Relationships treated as loan relationships etc: repos
- 46 Risk transfer schemes
- Insurance companies
- 47 Apportionment of asset value increases
- Pensions
- 48 Extension of special annual allowance charge
- 49 Information
- Value added tax and insurance premium tax
- 50 Extension of reverse charge provisions to supplies of services
- 51 Insurance premium tax: separate contracts
- Inheritance tax
- 52 Reversionary interests of purchaser or settlor etc in relevant property
- 53 Interests in possession
- Stamp taxes
- 54 SDRT: depositary receipt systems and clearance services systems
- 55 SDLT: partnerships
- Administration
- 56 Disclosure of tax avoidance schemes
- 57 Opening of postal packets
- Part 3 Other provisions
- Income tax: benefits in kind
- 58 Zero and low emission vehicles
- 59 Cars with CO2 emissions figure
- 60 Subsidised meals for employees: salary sacrifice etc
- Corporation tax
- 61 Sale of lessors: election out of charge
- 62 Accounting standards: loan relationships and derivative contracts
- Miscellaneous
- 63 Champions League final
- 64 FSCS intervention in relation to insurance contracts
- 65 Stamp duty and SDRT: clearing houses
- 66 Alcoholic liquor duties: power to amend definition of “cider”
- 67 Climate change levy: compatible state aid
- 68 Pensions: minor corrections
- Final provisions
- 69 Interpretation
- 70 Short title
- SCHEDULES
- SCHEDULE 1 Bank payroll tax
- Part 1 The tax
- The tax
- Rate
- “Taxable company”
- “Relevant remuneration”
- “Excluded remuneration”
- “Awarded”
- “Amount” of remuneration
- “The chargeable period”
- “Relevant banking employee”
- Multiple employments
- Payments etc to intermediaries
- Arrangements for future payments etc
- Loans
- Anti-avoidance
- No deduction in computing profits
- Part 2 Collection and management of tax
- Responsibility for collection and management
- Due date for payment
- Obligation to deliver return
- Content etc of return
- Failure to include self-assessment
- Amendment of return by company
- Correction of return by HMRC
- Enquiry into return
- Determination by HMRC
- Discovery assessment by HMRC
- Collection and recovery
- Interest on late payments and repayments
- Overpaid tax etc
- Appeals and other proceedings
- Obligation to preserve records
- Information powers
- Penalties
- Miscellaneous
- Part 3 Definitions
- “UK resident bank” and “relevant foreign bank”
- “Relevant regulated activity”, “capital resources condition”, “excluded company”, “asset management activities”, “linked entity” etc
- “Member of a banking group”
- “The trading income of the group” for the relevant period
- “Investment company” etc
- “Financial trading company” etc
- Other interpretative provisions
- SCHEDULE 3 Sideways relief etc
- Amendments of Chapter 2 of Part 4 of ITA 2007
- Other amendments
- Commencement
- SCHEDULE 4 Capital allowance buying
- SCHEDULE 5 Leased assets
- Restriction of qualifying expenditure
- Restriction of deduction for rental rebate
- Arrangements reducing disposal value of asset
- SCHEDULE 6 Charities and community amateur sports clubs: definitions
- Part 1 Definition of “charity”, “charitable company” and “charitable trust”
- Definition of “charity” etc
- Jurisdiction condition
- Registration condition
- Management condition
- Periods over which management condition treated as met
- Publication of names and addresses of bodies or trusts regarded by HMRC as charities
- Enactments to which this Part applies
- Part 2 Repeals of superseded definitions and other consequential amendments
- FA 1982
- FA 1983
- IHTA 1984
- FA 1986
- FA 1989
- TCGA 1992
- F(No.2)A 1997
- FA 1999
- CAA 2001
- ITEPA 2003
- FA 2003
- ITTOIA 2005
- F(No.2)A 2005
- ITA 2007
- FA 2008
- CTA 2009
- FA 2009
- CTA 2010
- TIOPA 2010
- Power to make further consequential provision
- Part 3 Meaning of “community amateur sports club”
- Part 4 Commencement
- Commencement of Part 1
- Commencement of Part 2
- Commencement of Part 3
- SCHEDULE 7 Gifts of shares etc to charities
- Gifts by individuals
- Gifts by companies
- Commencement and corresponding ICTA amendments
- SCHEDULE 8 Charities: miscellaneous amendments
- Payroll giving
- Payments to bodies outside the UK: non-charitable expenditure
- Gift aid: disqualified overseas gifts
- Gift aid administration: charitable trusts
- Gift aid administration: charitable companies
- Commencement
- SCHEDULE 9 Foreign currency bank accounts
- SCHEDULE 10 Penalties: offshore income etc
- Schedule 24 to FA 2007
- Schedule 41 to FA 2008
- Schedule 55 to FA 2009
- SCHEDULE 11 Reliefs and reductions for foreign tax
- Effect of foreign tax becoming payable
- Schemes about deemed foreign tax
- Foreign tax payable by other participants
- Claims etc made before scheme or arrangement made
- Limit on reduction for foreign tax
- SCHEDULE 12 Transactions in securities
- Income tax
- Corporation tax
- Consequential amendments
- Commencement
- SCHEDULE 13 Unauthorised unit trusts
- Amendments of Chapter 13 of Part 15 of ITA 2007
- Consequential amendments
- Commencement
- Transitional provision: opening value of trustees' double tax relief pool
- SCHEDULE 14 Index-linked gilt-edged securities
- Amendments of Chapter 12 of Part 5 of CTA 2009
- Consequential amendment
- Commencement
- Transitional provision
- SCHEDULE 15 Connected companies: releases of debts
- Amendments of section 322 of CTA 2009
- Amendments of Chapter 6 of Part 5 of CTA 2009
- Commencement
- Transitional provision
- SCHEDULE 16 Risk transfer schemes
- Amendments
- Commencement and transitional provision
- SCHEDULE 17 Disclosure of tax avoidance schemes
- Introduction
- Initial marketing
- Promoters to provide client lists
- Information provided to introducers
- Penalties
- Commencement
- SCHEDULE 18 Sale of lessors: election out of charge
- Main changes
- Interpretation
- Commencement etc
- SCHEDULE 19 Accounting standards: loan relationships and derivative contracts
- Loan relationships
- Derivative contracts
- Affirmative resolution procedure
- SCHEDULE 20 Champions League final
- Exemption from income tax
- Exclusion of certain income
- Tax avoidance
- Disapplication of section 966 of ITA 2007
- Interpretation
Feedback