Income Tax Bill

House of Commons

Session 2006 - 07
Internet Publications
Other Bills before Parliament

Income Tax Bill

Income Tax Bill
Schedule 3 — Repeals and revocations
Part 2 — Repeals having effect in relation to shares issued after 5 April 2007
713

Reference
Extent of repeal or revocation

Finance (No. 2) Act 2005 (c. 22)
Section 11.

Section 38(3).

In Schedule 4, paragraphs 1 and 2.

In Schedule 7, paragraph 6.

5

Pensions (Northern Ireland)
In Schedule 3, in the entry relating to the

Order 2005 (S.I. 2005/255
Commissioners of Inland Revenue or their

(N.I. 1))
officers, in the second column, the “or”

immediately after paragraph (f).

In Schedule 7, in the entry relating to the

10

Commissioners of Inland Revenue or their

officers, in the second column, the “or”

immediately after paragraph (e).

Finance Act 2006 (c. 25)
Section 75.

Section 90.

15

In section 91(1), the words “venture capital

trusts, and”.

In section 107(7)(a), the words “(within the

meaning given by section 839 of ICTA)”.

Section 122.

20

In section 139—

(a)
in subsection (2), in the new paragraph 2

of Schedule 23A to the Income and

Corporation Taxes Act 1988, sub-

paragraph (2B)(d) and sub-paragraphs

25

(2C) to (2E), and

(b)
subsections (3) and (4).

In Schedule 7, paragraphs 1 to 6.

In Schedule 13, paragraphs 1 to 4, 11, 14 to 17,

19, 21, 22, 30(1)(b) and 37.

30

In Schedule 14, paragraphs 2, 4, 7 and 8.

In Schedule 17—

(a)
paragraph 19,

(b)
paragraph 30(b) and the “and”

immediately before it, and

35

(c)
paragraph 32(8)(c).

Part 2
Repeals having effect in relation to shares issued after 5 April 2007

Reference
Extent of repeal or revocation

Income and Corporation Taxes
In Part 7, Chapter 3 except section 305A.

40

Act 1988 (c. 1)

Finance Act 1988 (c. 39)
Section 53.

Finance Act 1989 (c. 26)
Section 149(4)(b).

Section 170(3).

Finance Act 1993 (c. 34)
Section 111.

45

Finance Act 1994 (c. 9)
Section 137(1) and (2).

In Schedule 15, paragraphs 1 to 19 and 21 to 27.

Finance Act 1995 (c. 4)
Section 66.

Income Tax Bill
Schedule 3 — Repeals and revocations
Part 2 — Repeals having effect in relation to shares issued after 5 April 2007
714

Reference
Extent of repeal or revocation

Finance Act 1996 (c. 8)
In Schedule 20, paragraphs 22 and 23.

In Schedule 21, paragraph 7.

Finance Act 1997 (c. 16)
Section 74.

Schedule 8.

5

Finance Act 1998 (c. 36)
Section 70(1), (2) and (4).

Section 71.

Section 74(2)(a).

In Schedule 7, in paragraph 1, the words

“291A(3)(f)(ii) (twice)”.

10

In Schedule 12, paragraphs 1, 2 and 5(1).

In Schedule 13, Part 1.

Finance Act 1999 (c. 16)
Section 71.

Finance Act 2000 (c. 17)
In Schedule 16, paragraph 2.

Schedule 17, except paragraphs 7, 8 and

15

15(3)(b).

Finance Act 2001 (c. 9)
In Schedule 15—

(a)
Part 1,

(b)
paragraph 39,

(c)
in paragraph 40(2), the words “2 to 8, 10

20

to 14, 24,” and “Chapter III of Part VII of

the Taxes Act 1988 and”, and

(d)
in paragraph 40(3), the words “15 to 21,”

and “section 300 of the Taxes Act 1988

or”.

25

Finance Act 2002 (c. 23)
In section 103(4)(a), the words “297(5B)”.

In paragraph 4 of Schedule 9—

(a)
sub-paragraph (2)(a) and the “and”

immediately after it, and

(b)
sub-paragraph (3).

30

In Schedule 17, paragraph 2.

Income Tax (Earnings and
In Schedule 6, paragraphs 37 and 38.

Pensions) Act 2003 (c. 1)

Finance Act 2004 (c. 12)
In Schedule 18, Part 1.

In Schedule 27, paragraph 4, except sub-

35

paragraph (6)(b).

Income Tax (Trading and Other
In Schedule 1, paragraphs 126 and 127.

Income) Act 2005 (c. 5)

Finance Act 2006 (c. 25)
In section 91(1), the words “the enterprise

investment scheme”.

40

In Schedule 14, paragraphs 1, 5 and 6.

Income Tax Bill
Schedule 4 — Index of defined expressions
715

Schedule 4
Section 1032

Index of defined expressions

accounting period (in relation to a deposit-taker
section 948(1)

who is not a company) (in Chapter 15 of Part 15)

accreditation period (in Part 7)
section 342(1)

5

accrued income losses (in Part 12)
section 615(4)

accrued income profits (in Part 12)
section 615(2)

accumulated or discretionary income (in
section 480

Chapter 3 of Part 9)

Act
section 1018

10

adjusted net income (in Chapters 2 and 3 of Part
section 58

3)

arrangements (in Part 5)
section 257(1)

arrangements (in Chapter 2 of Part 9)
section 465(8)

assets (in Chapter 2 of Part 13)
section 717

15

assignment (in the application of this Act to
section 1008(1)

Scotland)

associate (in Part 5)
section 253

associate (in Part 6)
section 253 (as applied

by section 332)

20

associate (in Part 7)
section 381

associated operation (in Chapter 2 of Part 13)
section 719

attributable income (in Part 10)
section 540(3)

attributable gains (in Part 10)
section 540(3)

attributable income and gains (in Part 10)
section 540(3)

25

authorised unit trust
section 989

available income and gains (in Part 10)
section 562(4)

basic rate
section 6(2) (as applied

by section 989)

basic rate limit
section 20(2) (as

30

applied by section 989)

beneficial entitlement (in Chapter 1 of Part 14)
section 822

the beneficiary (in Chapter 8 of Part 9)
section 499(1)(b)

Income Tax Bill
Schedule 4 — Index of defined expressions
716

the beneficiary’s income (in Chapter 8 of Part 9)
section 499(2)

beneficiary under a discretionary or
section 873(3)

accumulation settlement (in Chapter 2 of Part 15)

benefits associated with a gift (in Chapter 2 of
section 417

Part 8)

5

body (in Part 7)
section 382(1)

body of persons
section 989

bonus shares (in Chapter 6 of Part 4)
section 151(1)

bonus shares (in Part 5)
section 257(1)

bonus shares (in Part 7)
section 382(1)

10

building society
section 989

buying back securities, in the context of a repo
section 570

(in Part 11)

C (tax-exempt) (in Chapter 2 of Part 11)
section 591(1)

C (tax-exempt) (in Chapter 4 of Part 11)
section 606(2)

15

C (tax-exempt) (in Chapter 9 of Part 15)
section 591(1) (as

applied by section

926(1))

capital (in Chapter 3 of Part 13)
section 772(1)

capital allowance
section 989

20

capital amount (in Chapter 4 of Part 13)
section 777(7)

capital gains relief (in Chapter 3 of Part 4)
section 103(2)

capital gains relief (in Chapter 5 of Part 13)
section 790(4)

the CDFI (in Part 7)
sections 334(2) and 370

certificate of deposit
section 1019

25

chargeable gain
section 989

chargeable period
section 989

charged amount (in Chapter 2 of Part 8)
section 427

charitable trade (in Part 10)
section 525

charitable trust (in Part 10)
section 519

30

charity
section 989

charity (in Chapter 2 of Part 8)
section 989 (and see

also section 430)

Income Tax Bill
Schedule 4 — Index of defined expressions
717

charity (in Chapter 3 of Part 8)
section 989 (and see

also section 446)

CITR (in Part 7)
section 333

civil partner (in Chapter 6 of Part 4)
section 151(1)

claim
section 1020

5

close company
section 989

company (except in Part 6, Chapters 1, 3 and 4 of
section 992

Part 13 and sections 993 and 994)

company (in Part 6)
section 332

company (in Chapter 1 of Part 13)
section 713

10

company (in Chapter 3 of Part 13)
section 772(3)

company (in Chapter 4 of Part 13)
section 789

company in administration (in Part 5)
section 252(2)

company in administration (in Part 6)
section 331(2)

company in receivership (in Part 5)
section 252(3)

15

company in receivership (in Part 6)
section 331(3)

compliance certificate (in Part 5)
section 204(1)

compliance statement (in Part 5)
section 205(1)

connected (in relation to two persons being
section 993 as applied

connected with one another)
by section 1021(1) (but

20

see exceptions and

alternative provision

in sections 166 to 171,

257(2) and 313(5) and

(6))

25

control
section 995 as applied

by section 1021(2) (but

see exceptions and

alternative provision

in sections 69(7),

30

139(2), 257(3), 313(4)

and (6), 394(5), 395(6),

691(4) and 994(1))

conversion (in Part 12)
section 620(7)

co-operative (in Chapter 1 of Part 8)
section 401(3)

35

corresponding bonus shares (in Chapter 6 of Part
section 151(1)

4)

counteraction notice (in Chapter 1 of Part 13)
section 698(3)

Income Tax Bill
Schedule 4 — Index of defined expressions
718

the current tax year (in Chapter 8 of Part 9)
section 499

debenture (except in sections 559, 560 and 691)
section 1022

deemed deduction (in Chapter 13 of Part 15)
section 941(6)

deemed payment (in Chapter 13 of Part 15)
section 941(6)

deposit (in Chapter 2 of Part 15)
section 855(2)

5

deposit (in Chapter 19 of Part 15)
section 983

deposit-taker (in Chapter 2 of Part 15)
section 853

director (in Part 5)
section 257(1)

director (in Part 6)
section 332

discretionary or accumulation settlement (in
section 873(1)

10

Chapter 2 of Part 15)

disposal (in Part 7)
section 379

disposal of shares (in Part 5)
section 254

disposal-related liability (in Chapter 3 of Part 8)
section 440

disposal-related obligation (in Chapter 3 of Part
section 439

15

8)

disposing of land (in Chapter 3 of Part 13)
section 753

disregarded annual payments (in Chapter 1 of
section 826

Part 14)

disregarded company income (in Chapter 1 of
section 816

20

Part 14)

disregarded income (in Chapter 1 of Part 14)
section 813(1)

disregarded pension income (in Chapter 1 of
section 813(3)

Part 14)

disregarded savings and investment income (in
section 825

25

Chapter 1 of Part 14)

disregarded social security income (in Chapter 1
section 813(5)

of Part 14)

disregarded transaction income (in Chapter 1 of
section 814

Part 14)

30

distribution (except in Chapter 4 of Part 11)
section 989

distribution (in Chapter 4 of Part 11)
section 606(3)

dividend (in Chapter 2 of Part 15)
section 850(6)(b)

dividends (in Chapter 1 of Part 13)
section 713

dividend income
section 19

35

Income Tax Bill
Schedule 4 — Index of defined expressions
719

dividend ordinary rate
section 8(1) (as applied

by section 989)

dividend trust rate
section 9(2) (as applied

by section 989)

dividend upper rate
section 8(2) (as applied

5

by section 989)

double taxation arrangements
section 1023

early tax year (in Chapter 3 of Part 4)
section 112(6)

EIS (in Part 5)
section 156(2)

EIS relief (in Chapter 6 of Part 4)
section 151(1)

10

EIS relief (in Part 5)
section 156(1)

election
section 1020

eligible for EIS relief (in Part 5)
section 157(1)

eligible shares (in Chapter 2 of Part 6)
section 273(1)

eligible shares (in Chapter 3 of Part 6)
section 285(3)

15

the 30% eligible shares condition (in Chapter 3 of
section 274(2)

Part 6)

employment income
section 7 of ITEPA

2003

excluded company (in Chapter 6 of Part 4)
section 151(1)

20

farming
section 996

financial instrument (in Part 15)
section 984

firm (in Chapter 2 of Part 4)
section 60(5)

firm (in Chapter 3 of Part 4)
section 103(3)

firm (in Chapter 5 of Part 13)
section 790(5)

25

the 5 year period (in Part 7)
section 338

G (property rental business) (in Chapter 2 of Part
section 591(1)

11)

G (property rental business) (in Chapter 4 of Part
section 606(4)

11)

30

G (property rental business) (in Chapter 9 of Part
section 591(1) (as

15)
applied by section

926(1))

generally accepted accounting practice
section 997(1) and (3)

gift aid declaration (in Chapter 2 of Part 8)
section 428

35