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Finance Bill
Schedule 20 — Repeals
Part 3 — Income tax, corporation tax and capital gains tax

334

 
 

Short title and chapter

Extent of repeal

 
 

Finance Act 1996 (c. 8)

In Schedule 9—

 
  

(a)   

paragraph 6B;

 
  

(b)   

paragraph 6C(2);

 
  

(c)   

paragraph 8;

 

5

  

(d)   

paragraph 9.

 
 

Finance Act 2002 (c. 23)

In Schedule 25, paragraph 26.

 
  

In Schedule 29, paragraph 115(2).

 
 

Finance Act 2004 (c. 12)

In Schedule 10—

 
  

(a)   

paragraph 24;

 

10

  

(b)   

paragraph 25(4);

 
  

(c)   

paragraph 26;

 
  

(d)   

paragraph 27.

 
 

          

These repeals have effect in accordance with section 111(4) of this Act.

(8) Foreign currency accounting

15

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

Section 747(4A) and (4B).

 
 

Act 1988 (c. 1)

Section 747A.

 
  

Section 748(4) and (5).

 
  

Section 750(5) to (8).

 

20

  

In Schedule 24, paragraph 11A.

 
 

Finance Act 1995 (c. 4)

In Schedule 25—

 
  

(a)   

paragraphs 2 to 5;

 
  

(b)   

paragraph 6(4).

 
 

Finance Act 1996 (c. 8)

In Schedule 36, paragraph 1(3)(b) and (c).

 

25

 

Finance Act 1998 (c. 36)

In Schedule 17, paragraph 2.

 
 

Capital Allowances Act 2001

In Schedule 2, paragraph 66(3).

 
 

(c. 2)

  
 

Finance Act 2002 (c. 23)

In Schedule 23, paragraph 19.

 

          

These repeals have effect in accordance with paragraph 24(2) of Schedule 7

30

to this Act.

(9) Other provisions connected with accounting practice

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

In section 43A(3), paragraphs (a) and (b) and the

 
 

Act 1988 (c. 1)

word “and” preceding paragraph (a).

 

35

  

Section 836A.

 
 

Finance Act 1996 (c. 8)

In Schedule 9, paragraph 19A(6).

 
 

Finance Act 1997 (c. 16)

In Schedule 12, in paragraph 30(1), the

 
  

definitions of “consolidated group accounts”,

 
  

“group of companies” and “member” in

 

40

  

relation to a group of companies.

 
 

 

Finance Bill
Schedule 20 — Repeals
Part 3 — Income tax, corporation tax and capital gains tax

335

 
 

Short title and chapter

Extent of repeal

 
 

Finance Act 2002 (c. 23)

Section 103(2).

 
  

In Schedule 25, paragraph 12(2).

 
  

In Schedule 29—

 
  

(a)   

paragraph 6(2);

 

5

  

(b)   

in paragraph 15(4), in the definitions of

 
  

“Previous Debits” and “Previous

 
  

Credits” the words from “under” to

 
  

“accounting policy)”;

 
  

(c)   

paragraph 20(1)(a), (b) and (c);

 

10

  

(d)   

in paragraph 27(1), in the definitions of

 
  

“Debits” and “Credits” the words from

 
  

“under” to “accounting policy)”;

 
  

(e)   

in paragraph 134(1), the words following

 
  

paragraph (b).

 

15

 

Finance Act 2004 (c. 12)

In sections 50(6), 51(6), 52(3) and 54(2),

 
  

paragraph (b) and the word “and” preceding

 
  

it.

 
  

In Schedule 10—

 
  

(a)   

paragraph 12;

 

20

  

(b)   

paragraph 72;

 
  

(c)   

paragraph 73(3);

 
  

(d)   

paragraphs 74 to 76.

 
 

1          

The repeals in sections 50, 51, 52 and 54 of FA 2004 have effect in accordance

with paragraph 50 of Schedule 7 to this Act.

25

2          

The other repeals have effect in accordance with section 111(4) of this Act.

(10) Double Taxation: limits on credit

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

Subsections (4) to (9) of section 803.

 
 

Act 1988 (c. 1)

  

30

          

This repeal has effect in accordance with the provisions of section 118 of this

Act.

(11) Tax avoidance involving annual payments and double taxation relief

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

Section 801(4A) to (4D).

 

35

 

Act 1988 (c. 1)

  
 

Finance Act 2001 (c. 9)

In Schedule 27, paragraph 3.

 

          

These repeals have effect in accordance with section 123(8) of this Act.

 

 

Finance Bill
Schedule 20 — Repeals
Part 3 — Income tax, corporation tax and capital gains tax

336

 

(12) Insurance companies

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

In section 76(8), in the second sentence, the

 
 

Act 1988 (c. 1)

word “or” at the end of paragraph (a).

 
  

In section 431(2), the definition of “long-term

 

5

  

liabilities”.

 
 

Finance Act 1989 (c. 26)

Section 82C(4), (5), (8) and (9).

 
  

In section 83A(2), the words from “Paragraph

 
  

(b) above” to the end of the subsection.

 

1          

The repeals in ICTA have effect in relation to periods of account ending on

10

or after 31st December 2004.

2          

The repeals in section 82C of FA 1989 have effect in accordance with

paragraph 10(4) of Schedule 9 to this Act.

3          

The repeal in section 83A of FA 1989 has effect in accordance with paragraph

12(6) of Schedule 9 to this Act.

15

(13) Chargeable gains: temporary non-residents

 

Short title and chapter

Extent of repeal

 
 

Taxation of Chargeable Gains

Section 10A(10).

 
 

Act 1992 (c. 12)

  

          

This repeal has effect in accordance with section 126(7) of this Act.

20

(14) Chargeable gains: options

 

Short title and chapter

Extent of repeal

 
 

Finance Act 1996 (c. 8)

Section 111(2) and (5).

 

          

These repeals have effect in accordance with paragraph 6(2) of Schedule 11

to this Act.

25

(15) Charges on income for corporation tax

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

In section 125(1), the words “and shall not be a

 
 

Act 1988 (c. 1)

charge on income for the purposes of

 
  

corporation tax”.

 

30

  

Section 338A(2)(a) and (4).

 
  

Section 338B.

 
  

In section 402(6)(b), the words “or a charge on

 
  

income”.

 
  

Section 434A(2)(a)(i).

 

35

  

In section 487(3), the words “or be treated for

 
  

those purposes as a charge on income”.

 
 

 

Finance Bill
Schedule 20 — Repeals
Part 3 — Income tax, corporation tax and capital gains tax

337

 
 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

In section 494—

 
 

Act 1988 (c. 1)—cont.

(a)   

in subsection (1), the words “Section 338

 
  

of this Act and”;

 
  

(b)   

subsection (3).

 

5

  

In section 494A—

 
  

(a)   

in subsection (2), paragraph (b) and the

 
  

word “or” before it;

 
  

(b)   

in subsection (3), paragraph (b) and the

 
  

word “and” before it.

 

10

  

In Schedule 28AA—

 
  

(a)   

in paragraph 7A(2)(b), the words “or

 
  

charges on income”;

 
  

(b)   

in paragraph 7C(2)(b), the words “or

 
  

charges on income”.

 

15

 

Finance Act 1989 (c. 26)

In section 102(7)(b), the words “or a charge on

 
  

income”.

 
 

Taxation of Chargeable Gains

In section 171A(5)(b), the words “or a charge on

 
 

Act 1992 (c. 12)

income”.

 
  

In section 179A(11)(b), the words “or a charge

 

20

  

on income”.

 
 

Finance Act 2002 (c. 23)

In Schedule 29, in paragraph 71(4), the words

 
  

“or a charge on income”.

 
 

          

These repeals have effect in accordance with section 132 of this Act.

(16) Avoidance involving financial arrangements

25

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

In section 18, paragraph (c) of the Case III of

 
 

Act 1988 (c. 1)

Schedule D substituted by subsection (3A).

 
  

Section 43C(1).

 
  

Section 43E(1)(a) and (b).

 

30

  

In section 730—

 
  

(a)   

subsection (1)(c);

 
  

(b)   

subsection (2A);

 
  

(c)   

in subsection (8), the words from “and

 
  

for the purpose” onwards.

 

35

 

Finance Act 1996 (c. 8)

In section 97—

 
  

(a)   

in subsection (2), paragraph (b) and the

 
  

word “but” before it, and

 
  

(b)   

subsections (3) and (3A).

 
  

Section 100(4) to (6), (8) and (13).

 

40

  

In Schedule 9—

 
  

(a)   

in paragraph 1A(1), paragraph (b) and

 
  

the word “or” before it;

 
  

(b)   

paragraph 11(5);

 
  

(c)   

in paragraph 15(4A), paragraph (b) and

 

45

  

the word “and” before it.

 
 

Finance Act 2000 (c. 17)

In Schedule 29, paragraph 44(3).

 
 

 

Finance Bill
Schedule 20 — Repeals
Part 3 — Income tax, corporation tax and capital gains tax

338

 
 

Short title and chapter

Extent of repeal

 
 

Finance Act 2002 (c. 23)

In Schedule 25, paragraphs 13(4) and 51.

 
 

Income Tax (Trading and Other

In section 430(6), the word “and” before the

 
 

Income) Act 2005 (c. 00)

entry relating to section 443(1).

 
  

In Schedule 1, paragraph 300(5).

 

5

 

          

These repeals have effect in accordance with Schedule 13 to this Act.

(17) Loan relationships

 

Short title and chapter

Extent of repeal

 
 

Finance Act 1996 (c. 8)

In Schedule 9—

 
  

(a)   

in paragraph 2(1B), the words “, but not

 

10

  

a CIS-based close company,”, the word

 
  

“or” preceding paragraph (c) and the

 
  

words after paragraph (c);

 
  

(b)   

in paragraph 18(1), paragraph (aa), and

 
  

paragraph (c) and the word “and”

 

15

  

preceding it;

 
  

(c)   

in paragraph 18(4), the word “and”

 
  

preceding the definition of

 
  

“participator”.

 
 

Finance Act 2002 (c. 23)

In Schedule 25, paragraph 34(4).

 

20

 

Finance Act 2004 (c. 12)

In Schedule 8, paragraphs 2(2) and 6(2) and (3).

 

          

These repeals have effect in accordance with paragraph 4 of Schedule 14 to

this Act.

(18) Tonnage tax   

 

Short title and chapter

Extent of repeal

 

25

 

Finance Act 2000 (c. 17)

In Schedule 22, paragraph 105.

 

          

This repeal has effect in accordance with paragraph 18(1) of Schedule 15 to

this Act.

(19) Lloyd’s names

 

Short title and chapter

Extent of repeal

 

30

 

Finance Act 1993 (c. 34)

Section 173.

 
  

In section 182(1)(a), “(so far as not provided for

 
  

by Schedule 19 to this Act)”.

 
  

Schedule 19.

 
 

Finance Act 1994 (c. 9)

Section 221.

 

35

  

In section 229(1)(a), “(so far as not provided for

 
  

by Schedule 19 to the 1993 Act as applied by

 
  

section 221 above)”.

 
  

In Schedule 21, paragraphs 9 and 10.

 
 

Finance Act 2001 (c. 9)

In Schedule 29, paragraph 36.

 

40

 

 

Finance Bill
Schedule 20 — Repeals
Part 4 — Stamp taxes

339

 

          

These repeals have effect in accordance with section 137(8) and (9) of this

Act.

(20) Energy Act 2004 and Health Protection Agency Act 2004

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

Section 349B(3)(g) and (h).

 

5

 

Act 1988 (c. 1)

Section 512.

 
 

Taxation of Chargeable Gains

In section 271(7)—

 
 

Act 1992 (c. 12)

(a)   

the words “, the United Kingdom

 
  

Atomic Energy Authority”;

 
  

(b)   

the words “and the National

 

10

  

Radiological Protection Board”;

 
  

(c)   

the words from “; and for the purposes”

 
  

to the end of the subsection.

 
 

Income Tax (Trading and Other

In Schedule 1, paragraph 199.

 
 

Income) Act 2005 (c. 00)

  

15

          

These repeals have effect in accordance with section 138 of this Act.

Part 4

Stamp taxes

(1) Stamp duty land tax: alternative property finance

 

Short title and chapter

Extent of repeal

 

20

 

Finance Act 2003 (c. 14)

In section 72, in subsection (1)(c) the words “or

 
  

its successor in title”, and subsection (8).

 

          

These repeals have effect in accordance with paragraph 7(1) of Schedule 16

to this Act.

(2) Stamp duty land tax: miscellaneous

25

 

Short title and chapter

Extent of repeal

 
 

Finance Act 2003

In Schedule 15, paragraph 33(4).

 

          

This repeal has effect in relation to any instrument executed on or after the

day on which this Act is passed.

 

 

Finance Bill
Schedule 20 — Repeals
Part 6 — Pensions etc

340

 

(3) Stamp duty land tax: disadvantaged areas relief

 

Short title and chapter

Extent of repeal

 
 

Finance Act 2003 (c. 14)

In Schedule 6—

 
  

(a)   

paragraph 4;

 
  

(b)   

in the second sentence of paragraph 6(1),

 

5

  

the words “land that is non-residential

 
  

property or”;

 
  

(c)   

paragraphs 6(2) and 6(3);

 
  

(d)   

paragraph 8;

 
  

(e)   

in the second sentence of paragraph

 

10

  

10(1), the words “land that is non-

 
  

residential property or”;

 
  

(f)   

paragraphs 10(2) and 10(3).

 

          

These repeals have effect in accordance with paragraph 4 of Schedule 18 to

this Act.

15

(4) Stamp duty and stamp duty reserve tax: extension of exceptions

 

Short title and chapter

Extent of repeal

 
 

Finance Act 2002 (c. 23)

Section 117.

 

          

This repeal has effect in accordance with section 146 of this Act.

Part 6

20

Pensions etc

 

Short title and chapter

Extent of repeal

 
 

Income and Corporation Taxes

In sections 348(1A) and 349(1A)—

 
 

Act 1988 (c. 1)

(a)   

paragraph (b), and

 
  

(b)   

in paragraph (c), “, 610”.

 

25

 

Finance Act 2004 (c. 12)

In section 215—

 
  

(a)   

in subsection (9), paragraph (b) and the

 
  

word “and” before it, and

 
  

(b)   

subsection (10).

 
  

In Schedule 28—

 

30

  

(a)   

in paragraph 2, sub-paragraph (1) and,

 
  

in sub-paragraph (4), the word “or” at

 
  

the end of paragraph (b),

 
  

(b)   

paragraph 3(3) to (6),

 
  

(c)   

paragraph 6(2),

 

35

  

(d)   

in paragraph 16, sub-paragraph (1), in

 
  

sub-paragraph (2), paragraph (b) and the

 
  

word “and” before it, and sub-

 
  

paragraphs (3) to (6), and

 
  

(e)   

paragraph 20(2).

 

40

 

 

 
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