Session 2012 - 13
Internet Publications
Other Bills before Parliament

Finance (No. 2) Bill


Finance (No. 2) Bill

vi

 

137   

Property developers: exchange of dwellings

138   

Property developers: supplementary

139   

Property traders

140   

Property traders: supplementary

141   

Financial institutions acquiring dwellings in the course of lending

142   

Section 141: supplementary

143   

Occupation by certain employees or partners

144   

Meaning of “qualifying employee” and “qualifying partner” in section 143

145   

Meaning of “10% or greater share in a company”

146   

Farmhouses

147   

“Farm worker” and “former long-serving farm worker”

148   

Charitable companies

149   

Section 148: supplementary

150   

Providers of social housing

Exemptions

151   

Public bodies

152   

Bodies established for national purposes

153   

Dwelling conditionally exempt from inheritance tax

Power to modify reliefs

154   

Modification of reliefs

Alternative property finance

155   

Land sold to financial institution and leased to person

Administration and payment of tax

156   

Responsibility for collection and management

157   

Annual tax on enveloped dwellings return

158   

Return of adjusted chargeable amount

159   

Return to include self assessment

160   

Returns, enquiries, assessments and other administrative matters

161   

Payment of tax

162   

Information and enforcement

163   

Collection and recovery of tax etc

Application of provisions

164   

Companies

165   

Partnerships

Supplementary provisions

166   

Miscellaneous amendments and transitory provision

167   

Orders and regulations

Interpretation

168   

Meaning of “chargeable day” and “within the charge”

169   

References to the state of affairs “on” a day

 
 

Finance (No. 2) Bill

vii

 

170   

Connected persons

171   

Connected persons: cell companies

172   

General interpretation of Part 3

Part 4

Excise duties and other taxes

Inheritance tax

173   

Open- ended investment companies and authorised unit trusts

174   

Treatment of liabilities for inheritance tax purposes

175   

Election to be treated as domiciled in United Kingdom

176   

Transfer to spouse or civil partner not domiciled in United Kingdom

Fuel

177   

Fuel duties: rates of duty and rebates from 1 April 2013

Alcohol

178   

Rates of alcoholic liquor duties

Tobacco

179   

Rates of tobacco products duty

180   

Meaning of “tobacco products”

Gambling

181   

Rates of gaming duty

182   

Combined bingo

Air passenger duty

183   

Air passenger duty: rates of duty from 1 April 2013

184   

Air passenger duty: miscellaneous provision

Vehicle excise duty

185   

VED rates for light passenger vehicles, light goods vehicles, motorcycles etc

186   

Not exhibiting licence: period of grace

187   

Vehicles not kept or used on public road

188   

Vehicle licences for disabled people

Value added tax

189   

Repayments of value added tax to health service bodies

190   

Valuation of certain supplies of fuel

191   

Reduced rate for energy-saving materials

Stamp duty land tax

192   

Pre-completion transactions: existing cases

 
 

Finance (No. 2) Bill

viii

 

193   

Pre-completion transactions

194   

Relief from higher rate

195   

Leases

Landfill tax

196   

Standard rate of landfill tax

Climate change levy

197   

Climate change levy: main rates

198   

Climate change levy: supplies subject to carbon price support rates etc

Insurance premium tax

199   

Contracts that are not taxable

Bank levy

200   

Bank levy: rates from 1 January 2013

201   

Bank levy: rates from 1 January 2014

202   

No deductions for UK or foreign bank levies

Part 5

General anti-abuse rule

203   

General anti-abuse rule

204   

Meaning of “tax arrangements” and “abusive”

205   

Meaning of “tax advantage”

206   

Counteracting the tax advantages

207   

Consequential relieving adjustments

208   

Proceedings before a court or tribunal

209   

Relationship between the GAAR and priority rules

210   

Consequential amendment

211   

Interpretation of Part 5

212   

Commencement and transitional provision

Part 6

Other provisions

Trusts

213   

Trusts with vulnerable beneficiary

Unit trusts

214   

Unauthorised unit trusts

Residence

215   

Statutory residence test

216   

Ordinary residence

 
 

Finance (No. 2) Bill

ix

 

International matters

217   

Controlled foreign companies etc

218   

Agreement between UK and Switzerland

219   

International agreements to improve tax compliance

Disclosure

220   

Disclosure of tax avoidance schemes

Powers

221   

Powers under Proceeds of Crime Act 2002

222   

Definition of “goods” for certain customs purposes

223   

Power to detain goods

224   

Penalty instead of forfeiture of larger ships

225   

Data-gathering from merchant acquirers etc

Payment

226   

Corporation tax: deferral of payment of exit charge

227   

Penalties: late filing, late payment and errors

228   

Overpayment relief: generally prevailing practice exclusion and EU law

229   

Overpayment relief: time limit for claims

Administration

230   

Self assessment: withdrawal of notice to file etc

Part 7

Final provisions

231   

Interpretation

232   

Short title

Schedule 1   —   

Annual investment allowance: periods straddling 1 January

2013 or 1 January 2015

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

Schedule 3   —   

Limit on income tax reliefs

Schedule 4   —   

Cash basis for small businesses

Part 1   —   

Main provisions

 
 

Finance (No. 2) Bill

x

 

Part 2   —   

Consequential amendments

Part 3   —   

Commencement and transitional provision

Schedule 5   —   

Deductions allowable at a fixed rate

Schedule 6   —   

Employment income: duties performed in the UK and

overseas

Part 1   —   

Apportionment of earnings

Part 2   —   

Remittance basis of taxation: special mixed fund rules

Part 3   —   

Commencement

Schedule 7   —   

Remittance basis: exempt property

Schedule 8   —   

Gains from contracts for life insurance etc

Schedule 9   —   

Qualifying insurance policies

Part 1   —   

Amendments of Schedule 15 to ICTA etc

Part 2   —   

Restricted relief qualifying policies

Part 3   —   

Information powers

Schedule 10   —   

Transfer of assets abroad

Part 1   —   

Introduction

Part 2   —   

New exemption for genuine transactions etc

Part 3   —   

Amendments relating to the charges under sections 720 and

727

Schedule 11   —   

Deduction of income tax at source etc

Schedule 12   —   

Disguised interest

Schedule 13   —   

Change in ownership of shell company: restriction of relief

Schedule 14   —   

R&D expenditure credits

Part 1   —   

Amendments of CTA 2009

Part 2   —   

Consequential amendments

Part 3   —   

Abolition of certain relief under Part 13 of CTA 2009

Part 4   —   

Commencement and transitional provision

Schedule 15   —   

Tax relief for television production

Part 1   —   

Amendments of CTA 2009

Part 2   —   

Commencement

Schedule 16   —   

Tax relief for video games development

Part 1   —   

Amendments of CTA 2009

Part 2   —   

Commencement

Schedule 17   —   

Television and video games tax relief: consequential

amendments

Schedule 18   —   

Real estate investment trusts: UK REITs which invest in other

UK REITs

Schedule 19   —   

Tax mismatch schemes

Schedule 20   —   

Community amateur sports clubs

Schedule 21   —   

Transitional provision relating to reduction in standard

lifetime allowance etc

Part 1   —   

“Fixed protection 2014”

Part 2   —   

Other provision

Schedule 22   —   

Employee shareholder shares

Part 1   —   

Income tax treatment of employee shareholder shares

Part 2   —   

Capital gains tax exemption for employee shareholder shares

Part 3   —   

Corporation tax

Part 4   —   

Commencement

Schedule 23   —   

EMI options and entrepreneurs’ relief etc

Schedule 24   —   

Charge on certain high value disposals by companies etc

Part 1   —   

Taxation of Chargeable Gains Act 1992

Part 2   —   

Other amendments

Part 3   —   

Commencement

Schedule 25   —   

Community investment tax relief

 
 

Finance (No. 2) Bill

xi

 

Schedule 26   —   

Lease premium relief

Schedule 27   —   

Manufactured payments

Part 1   —   

Income tax

Part 2   —   

Corporation tax

Part 3   —   

Consequential etc amendments

Part 4   —   

Commencement

Schedule 28   —   

Close companies

Part 1   —   

Amendments of Part 10 of CTA 2010

Part 2   —   

Other amendments

Schedule 29   —   

Miscellaneous amendments relating to decommissioning

Part 1   —   

Abandonment guarantees and abandonment expenditure

Part 2   —   

Receipts arising from decommissioning

Part 3   —   

Commencement

Schedule 30   —   

Restrictions on allowances for certain oil-related expenditure

Part 1   —   

Decommissioning expenditure

Part 2   —   

Expenditure on site restoration

Part 3   —   

Amendments of TIOPA 2010

Schedule 31   —   

Annual tax on enveloped dwellings: returns, enquiries,

assessments and appeals

Part 1   —   

Returns

Part 2   —   

Duty to keep and preserve records

Part 3   —   

Enquiry into return

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

Part 8   —   

Supplementary

Schedule 32   —   

Annual tax on enveloped dwellings: information and

enforcement

Part 1   —   

Information and inspection powers

Part 2   —   

Penalties

Schedule 33   —   

Annual tax on enveloped dwellings: miscellaneous

amendments and transitory provision

Part 1   —   

Miscellaneous amendments

Part 2   —   

Transitory provision: the first chargeable period

Schedule 34   —   

Treatment of liabilities for inheritance tax purposes

Schedule 35   —   

Vehicle licences for disabled people

Schedule 36   —   

Valuation of certain supplies of fuel

Schedule 37   —   

Stamp duty land tax: transactions entered into before

completion of contract

Schedule 38   —   

Stamp duty land tax: relief from 15% rate

Schedule 39   —   

Stamp duty land tax on leases

Schedule 40   —   

Climate change levy: supplies subject to carbon price support

rates etc

Part 1   —   

Earlier provision not to have effect

Part 2   —   

New provision 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

Schedule 41   —   

General anti-abuse rule: procedural requirements

Schedule 42   —   

Trusts with vulnerable beneficiary

Schedule 43   —   

Statutory residence test

Part 1   —   

The rules

Part 2   —   

Key concepts

Part 3   —   

Split year treatment

 
 

Finance (No. 2) Bill

xii

 

Part 4   —   

Anti-avoidance

Part 5   —   

Miscellaneous

Schedule 44   —   

Ordinary residence

Part 1   —   

Income tax and capital gains tax: remittance basis of taxation

Part 2   —   

Income tax: arising basis of taxation

Part 3   —   

Capital gains tax: accruals basis of taxation

Part 4   —   

Other amendments

Schedule 45   —   

Controlled foreign companies

Schedule 46   —   

Proceeds of crime: powers of officers of Revenue and Customs

Schedule 47   —   

Corporation tax: deferral of payment of exit charge

Schedule 48   —   

Penalties: late filing, late payment and errors

Schedule 49   —   

Withdrawal of notice to file etc

 
 

 
previous section contents continue
 

© Parliamentary copyright
Revised 28 March 2013