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
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54/1
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
v
Chapter 6
Accounting practice and related matters
37
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
Insurance companies etc
42
International matters
43
Implementation of the amended Parent/Subsidiary Directive
44
Territories with a lower level of taxation: reduction of amount of local tax
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
vi
52
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
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
72
Short title
Schedule 1 —
Schedule 2 —
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
Location of assets
Minor amendments: non-resident company with UK
permanent establishment
Schedule 5 —
Chargeable gains: options
Application of market value rule in case of exercise of option
Miscellaneous amendments relating to share options etc
Schedule 6 —
Schedule 7 —
vii
Schedule 8 —
Financing of companies etc: transfer pricing and loan
relationships
Schedule 9 —
Schedule 10 —
Stamp duty land tax: miscellaneous amendments
Amendments coming into force in accordance with paragraph
Schedule 11 —
Part 5 —