Finance Bill (HC Bill 102)

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EUROPEAN CONVENTION ON HUMAN RIGHTS

The Chancellor of the Exchequer has made the following statement under section
19(1)(a) of the Human Rights Act 1998:

In my view the provisions of the Finance Bill are compatible with the Convention
rights.

Contents

  1. Part 1

    Direct taxes

    1. Income tax: employment and pensions

      1. 1. Taxable benefits: time limit for making good

      2. 2. Taxable benefits: ultra-low emission vehicles

      3. 3. Pensions advice

      4. 4. Legal expenses etc

      5. 5. Termination payments etc: amounts chargeable on employment income

      6. 6. PAYE settlement agreements

      7. 7. Money purchase annual allowance

    2. Income tax: investments

      1. 8. Dividend nil rate for tax year 2018-19 etc

      2. 9. Life insurance policies: recalculating gains on part surrenders etc

      3. 10. Personal portfolio bonds

      4. 11. EIS and SEIS: the no pre-arranged exits requirement

      5. 12. VCTs: follow-on funding

      6. 13. VCTs: exchange of non-qualifying shares and securities

      7. 14. Social investment tax relief

      8. 15. Business investment relief

    3. Income tax: trading and property businesses

      1. 16. Calculation of profits of trades and property businesses

      2. 17. Trading and property allowances

    4. Corporation tax

      1. 18. Carried-forward losses

      2. 19. Losses: counteraction of avoidance arrangements

      3. 20. Corporate interest restriction

      4. 21. Museum and gallery exhibitions

      5. 22. Grassroots sport

      6. 23. Profits from the exploitation of patents: cost-sharing arrangements

      7. 24. Hybrid and other mismatches

      8. 25. Trading profits taxable at the Northern Ireland rate

    5. Chargeable gains

      1. 26. Elections in relation to assets appropriated to trading stock

      2. 27. Substantial shareholding exemption

      3. 28. Substantial shareholding exemption: institutional investors

    6. Domicile, overseas property etc

      1. 29. Deemed domicile: income tax and capital gains tax

      2. 30. Deemed domicile: inheritance tax

      3. 31. Settlements and transfer of assets abroad: value of benefits

      4. 32. Exemption from attribution of carried interest gains

      5. 33. Inheritance tax on overseas property representing UK residential property

    7. Disguised remuneration

      1. 34. Employment income provided through third parties

      2. 35. Trading income provided through third parties

      3. 36. Disguised remuneration schemes: restriction of income tax relief

      4. 37. Disguised remuneration schemes: restriction of corporation tax relief

    8. Capital allowances

      1. 38. First-year allowance for expenditure on electric vehicle charging points

    9. Transactions in UK land

      1. 39. Disposals concerned with land in United Kingdom

    10. Co-ownership authorised contractual schemes

      1. 40. Co-ownership authorised contractual schemes: capital allowances

      2. 41. Co-ownership authorised contractual schemes: information requirements

      3. 42. Co-ownership authorised contractual schemes: offshore funds

  2. Part 2

    Indirect taxes

    1. 43. Air passenger duty: rates of duty from 1 April 2018

    2. 44. Petroleum revenue tax: elections for oil fields to become non-taxable

    3. 45. Gaming duty: rates

    4. 46. Remote gaming duty: freeplay

    5. 47. Tobacco products manufacturing machinery: licensing scheme

  3. Part 3

    Fulfilment businesses

    1. 48. Carrying on a third country goods fulfilment business

    2. 49. Requirement for approval

    3. 50. Register of approved persons

    4. 51. Regulations relating to approval, registration etc.

    5. 52. Disclosure of information by HMRC

    6. 53. Offence

    7. 54. Forfeiture

    8. 55. Penalties

    9. 56. Appeals

    10. 57. Regulations

    11. 58. Interpretation

    12. 59. Commencement

  4. Part 4

    Administration, avoidance and enforcement

    1. Reporting and record-keeping

      1. 60. Digital reporting and record-keeping for income tax etc

      2. 61. Digital reporting and record-keeping for income tax etc: further amendments

      3. 62. Digital reporting and record-keeping for VAT

    2. Enquiries

      1. 63. Partial closure notices

    3. Avoidance etc

      1. 64. Errors in taxpayers’ documents

      2. 65. Penalties for enablers of defeated tax avoidance

      3. 66. Disclosure of tax avoidance schemes: VAT and other indirect taxes

      4. 67. Requirement to correct certain offshore tax non-compliance

      5. 68. Penalty for transactions connected with VAT fraud etc

    4. Information

      1. 69. Data-gathering from money service businesses

  5. Part 5

    Final

    1. 70. Northern Ireland welfare payments: updating statutory reference

    2. 71. Interpretation

    3. 72. Short title

    1. Schedule 1

      Social investment tax relief

      1. Part 1

        Amendments of Part 5B of ITA 2007

      2. Part 2

        Consequential amendments

      3. Part 3

        Commencement

    2. Schedule 2

      Trades and property businesses: calculation of profits

      1. Part 1

        Trades etc: amendments of ITTOIA 2005

      2. Part 2

        Property businesses: amendments of ITTOIA 2005

      3. Part 3

        Trades etc: amendments of other Acts

      4. Part 4

        Commencement and transitional provision

    3. Schedule 3

      Trading and property allowances

      1. Part 1

        Main provisions

      2. Part 2

        Consequential amendments

      3. Part 3

        Commencement

    4. Schedule 4

      Relief for carried-forward losses

      1. Part 1

        Amendment of general rules about carrying forward losses

      2. Part 2

        Restriction on deductions in respect of carried-forward losses

      3. Part 3

        Group relief for carried-forward losses

      4. Part 4

        Insurance companies: carrying forward BLAGAB trade losses

      5. Part 5

        Carrying forward trade losses in certain creative industries

      6. Part 6

        Oil activities

      7. Part 7

        Oil contractors

      8. Part 8

        Transferred trades

      9. Part 9

        Tax avoidance

      10. Part 10

        Northern Ireland trading losses etc

      11. Part 11

        Minor and consequential amendments

      12. Part 12

        Commencement etc

    5. Schedule 5

      Corporate interest restriction

      1. Part 1

        New Part 10 of TIOPA 2010

      2. Part 2

        New Schedule 7A to TIOPA 2010

      3. Part 3

        Consequential amendments

      4. Part 4

        Commencement and transitional provision

    6. Schedule 6

      Relief for production of museum and gallery exhibitions

      1. Part 1

        Amendment of CTA 2009

      2. Part 2

        Consequential amendments

      3. Part 3

        Commencement

    7. Schedule 7

      Trading profits taxable at the Northern Ireland rate

      1. Part 1

        Amendments relating to SMEs

      2. Part 2

        Minor amendments

      3. Part 3

        Commencement etc

    8. Schedule 8

      Deemed domicile: income tax and capital gains tax

      1. Part 1

        Application of deemed domicile rule

      2. Part 2

        Protection of overseas trusts

      3. Part 3

        Capital gains tax rebasing

      4. Part 4

        Cleansing of mixed funds

    9. Schedule 9

      Settlements and transfer of assets abroad: value of benefits

    10. Schedule 10

      Inheritance tax on overseas property representing UK
      residential property

    11. Schedule 11

      Employment income provided through third parties: loans etc
      outstanding on 5 April 2019

      1. Part 1

        Application of Part 7A of ITEPA 2003

      2. Part 2

        Approval of a qualifying loan etc.

      3. Part 3

        Exclusions

      4. Part 4

        Supplementary provision

      5. Part 5

        Consequential amendments

    12. Schedule 12

      Trading income provided through third parties: loans etc
      outstanding on 5 April 2019

    13. Schedule 13

      Third country goods fulfilment businesses: penalty

    14. Schedule 14

      Digital reporting and record-keeping for income tax etc:
      further amendments

      1. Part 1

        Amendments of TMA 1970

      2. Part 2

        Amendments of other Acts

    15. Schedule 15

      Partial closure notices

    16. Schedule 16

      Penalties for enablers of defeated tax avoidance

      1. Part 1

        Liability to penalty

      2. Part 2

        “Abusive” and “tax arrangements”: meaning

      3. Part 3

        “Defeat” in respect of abusive tax arrangements

      4. Part 4

        Persons who “enabled” the arrangements

      5. Part 5

        Amount of penalty

      6. Part 6

        Assessment of penalty

      7. Part 7

        GAAR Advisory Panel opinion, and representations

      8. Part 8

        Appeals

      9. Part 9

        Information

      10. Part 10

        Publishing details of persons who have incurred penalties

      11. Part 11

        Miscellaneous

      12. Part 12

        General

    17. Schedule 17

      Disclosure of tax avoidance schemes: VAT and other indirect
      taxes

      1. Part 1

        Duties to disclose avoidance schemes etc

      2. Part 2

        Penalties

      3. Part 3

        Consequential amendments

      4. Part 4

        Supplemental

    18. Schedule 18

      Requirement to correct certain offshore tax non-compliance

      1. Part 1

        Liability for penalty for failure to correct

      2. Part 2

        Amount of penalty

      3. Part 3

        Further provisions relating to the requirement to correct

      4. Part 4

        Supplementary

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