CONTENTS
PART 1
EXCISE DUTIES
Tobacco products duty
1 Rates of tobacco products duty
2 Tobacco products duty: evasion
Alcoholic liquor duties
3 Rate of duty on beer
4 Rates of duty on wine and made-wine
5 Repeal of provisions of ALDA 1979 of no practical utility etc
Hydrocarbon oil duties
6 Rates until 1st September 2006
7 Rates from 1st September 2006
8 Road vehicles
Betting and gaming duties
9 General betting duty: gaming machines
10 Rates of gaming duty
Amusement machine licence duty
11 Definition of “gaming machine”
12 Classes of machine and rates of duty
Vehicle excise duty
13 Rates
14 Reduced pollution certificates
15 Late renewal supplement
PART 2
VALUE ADDED TAX
Gaming machines
16 Gaming machines
Land
17 Buildings and land
Imported works of art etc
18 Value of imported works of art etc: auctioneer’s commission
Avoidance and fraud
19 Missing trader intra-community fraud
20 Power to inspect goods
21 Directions to keep records where belief VAT might not be paid
22 Treatment of credit vouchers
PART 3
INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
CHAPTER 1
INCOME TAX AND CORPORATION TAX: CHARGE AND RATE BANDS
Income tax
23 Charge and rates for 2006-07
Corporation tax
24 Charge and main rate for financial year 2007
25 Small companies’ rate and fraction for financial year
2006
26 Abolition of corporation tax starting rate and non-corporate
distribution rate
CHAPTER 2
RELIEFS FOR BUSINESS
Group relief
27 Group relief where surrendering company not resident in UK
Research and development
28 Relief for research and development: subjects of clinical trials
29 Claims for relief for research and development
Capital allowances
30 Temporary increase in amount of first-year allowances for small
enterprises
CHAPTER 3
FILMS AND SOUND RECORDINGS
Introductory
31 Meaning of “film” and related expressions
32 Meaning of “film production company”
33 Meaning of “film-making activities” etc
34 Meaning of “production expenditure” and related
expressions
35 Meaning of “UK expenditure”
36 Meaning of “qualifying co-production” and “co-producer”
Taxation of activities of film production company
37 Taxation of activities of film production company
Film tax relief
38 Films qualifying for film tax relief
39 Conditions of relief: intended theatrical release
40 Conditions of relief: British film
41 Conditions of relief: UK expenditure
42 Film tax relief: further provisions
Film losses
43 Films: restriction on use of losses while film in production
44 Films: use of losses in later periods
45 Films: terminal losses
Films: withdrawal of existing reliefs
46 Films: withdrawal of existing reliefs (corporation tax)
47 Films: withdrawal of existing reliefs (income tax)
Corporation tax treatment of sound recordings
48 Sound recordings: revenue nature of expenditure
49 Sound recordings: allocation of expenditure
50 Sound recordings: interpretation
Supplementary provisions
51 Corporation tax: films and sound recordings as intangible fixed
assets
52 Films: application of provisions to certain films already in
production
53 Films and sound recordings: commencement and power to alter
dates
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