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House of Commons		 Session 2005 - 06
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Finance Bill

 

Finance Bill

 

[Not Amended in the Committee and As Amended in Standing Committee B]

 
 

Contents

Part 1

Value added tax

1   

Goods subject to warehousing regime: place of acquisition or supply

2   

Cars: determination of consideration for fuel supplied for private use

3   

Credit for, or repayment of, overstated or overpaid VAT

4   

Section 3: consequential and supplementary provision

5   

Reverse charge: gas and electricity valuation

6   

Disclosure of value added tax avoidance schemes

Part 2

Income tax, corporation tax and capital gains tax

Chapter 1

Personal taxation

Social security pension lump sums

7   

Charge to income tax on lump sum

8   

Meaning of “applicable year of assessment” in section 7

9   

Interpretation and commencement

10   

Consequential amendments

Gift aid

11   

Donations to charity by individuals

Employee securities

12   

Employee securities: anti-avoidance

 

Bill 37                                                                                                 

54/1

 

 

Finance Bill

iv

 

Chapter 2

Scientific research organisations

13   

Corporation tax exemption for organisations

14   

Income tax deduction for payments to organisations

15   

Corporation tax deduction for payments to organisations

Chapter 3

Authorised investment funds etc

16   

Open-ended investment companies

17   

Authorised unit trusts and open-ended investment companies

18   

Section 17(3): specific powers

19   

Section 17: commencement and procedure

20   

Unauthorised unit trusts: chargeable gains

21   

Unit trusts: treatment of accumulation units

22   

Section 349B ICTA: exemption for distributions to PEP/ISA managers

23   

Offshore funds

Chapter 4

Avoidance involving tax arbitrage

24   

Deduction cases

25   

Rules relating to deductions

26   

Receipts cases

27   

Rule as to qualifying payment

28   

Notices under sections 24 and 26

29   

Amendments relating to company tax returns

30   

Interpretation

31   

Commencement

Chapter 5

Chargeable gains

Residence, location of assets etc

32   

Temporary non-residents

33   

Trustees both resident and non-resident in a year of assessment

34   

Location of assets etc

Miscellaneous

35   

Exercise of options etc

36   

Notional transfers within a group

 

 

Finance Bill

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Chapter 6

Miscellaneous

Accounting practice and related matters

37   

Accounting practice and related matters

Financial avoidance etc

38   

Charges on income for the purposes of corporation tax

39   

Avoidance involving financial arrangements

Financing of companies etc

40   

Transfer pricing and loan relationships

Intangible fixed assets

41   

Intangible fixed assets

Insurance companies etc

42   

Insurance companies etc

International matters

43   

Implementation of the amended Parent/Subsidiary Directive

44   

Territories with a lower level of taxation: reduction of amount of local tax

Miscellaneous

45   

Lloyd’s underwriters: assessment and collection of tax

46   

Energy Act 2004 and Health Protection Agency Act 2004

Part 3

Stamp taxes

Stamp duty land tax

47   

E-conveyancing

48   

Disclosure of information contained in land transaction returns

49   

Miscellaneous amendments

Stamp duty and stamp duty reserve tax

50   

Power to extend exceptions relating to recognised exchanges

Part 4

European company statute

51   

Chargeable gains

 

 

Finance Bill

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52   

Intangible fixed assets

53   

Intangible fixed assets: permanent establishment in another member State

54   

Loan relationships

55   

Derivative contracts

56   

Capital allowances

57   

Stamp duty reserve tax

58   

Bearer instruments: stamp duty and stamp duty reserve tax

59   

Consequential amendments

60   

Residence

61   

Continuity for transitional purposes

62   

Groups

63   

Groups: intangible fixed assets

64   

Held-over gains

65   

Restrictions on set-off of pre-entry losses

Part 5

Miscellaneous matters

66   

Vehicle excise duty: late renewal supplements

67   

Reorganisation of water and sewerage services in Northern Ireland

68   

EU Mutual Assistance Directive: notifications

69   

Abolition of statutory adjudicator for National Savings and Investments

Part 6

Supplementary provisions

70   

Repeals

71   

Interpretation

72   

Short title

Schedule 1   —   

Disclosure of value added tax avoidance schemes

Schedule 2   —   

Employee securities: anti-avoidance

Schedule 3   —   

Qualifying scheme

Part 1   —   

Introductory

Part 2   —   

Schemes involving hybrid entities

Part 3   —   

Schemes involving hybrid effect

Part 4   —   

Schemes involving hybrid effect and connected persons

Schedule 4   —   

Chargeable gains: location of assets etc

Part 1   —   

Location of assets

Part 2   —   

Minor amendments: non-resident company with UK

permanent establishment

Part 3   —   

Commencement

Schedule 5   —   

Chargeable gains: options

Part 1   —   

Application of market value rule in case of exercise of option

Part 2   —   

Miscellaneous amendments relating to share options etc

Part 3   —   

Commencement

Schedule 6   —   

Accounting practice and related matters

Schedule 7   —   

Avoidance involving financial arrangements

 

 

Finance Bill

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Schedule 8   —   

Financing of companies etc: transfer pricing and loan

relationships

Schedule 9   —   

Insurance companies etc

Schedule 10   —   

Stamp duty land tax: miscellaneous amendments

Part 1   —   

Amendments coming into force in accordance with paragraph

16

Part 2   —   

Amendments coming into force in accordance with paragraph

22

Schedule 11   —   

Repeals

Part 1   —   

Value added tax

Part 2   —   

Income tax, corporation tax and capital gains tax

Part 3   —   

Stamp taxes

Part 4   —   

European company statute

Part 5   —   

Miscellaneous matters

 

 

 
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Revised 1 July 2005