Finance Bill
EUROPEAN CONVENTION ON HUMAN RIGHTS
Mr Chancellor of the Exchequer has made the following statement under section
19(1)(a) of the Human Rights Act 1998:
In my view the provisions of the Finance Bill are compatible with the Convention
rights.
Contents
Part 1
Charges, rates etc
Income tax
1
Charge, main rates, thresholds and allowances etc for 2010-11
Corporation tax
2
Charge and main rate for financial year 2011
3
Small profits rates and fractions for financial year 2010
Capital gains tax
4
Increase in entrepreneurs’ relief
Capital allowances
5
Annual investment allowance
Stamp duty land tax
6
Relief for first-time buyers
7
Rate in respect of residential property where consideration over £1m
Inheritance tax
8
Rate bands
Alcohol and tobacco
9
Rates of alcoholic liquor duties
10
Rates of tobacco products duty
Vehicle excise duty
11
Rates for motorcycles
Bill 100
54/5
ii
Fuel duties
12
Fuel duties: rates and rebates from April 2010
13
Fuel duties: further changes in rates and rebates
Other environmental taxes
14
Rates of air passenger duty
15
Standard rate of landfill tax
16
Rate of aggregates levy
17
Rates of climate change levy
18
Climate change levy: reduced-rate supplies
Gambling
19
Rate of bingo duty
20
Rates of gaming duty
21
Amusement machine licence duty
New taxes
22
Bank payroll tax
23
Landline duty
24
Pensions: high income excess relief charge
Part 2
Anti-avoidance and revenue protection
Losses, capital allowances etc
25
Sideways relief etc
26
Property loss relief
27
Capital allowance buying
28
Leased assets
29
Cushion gas
30
Sale of lessors: consortium relationships
Charities etc
31
Charities and community amateur sports clubs: definitions
32
Gifts of shares etc to charities
33
Miscellaneous amendments
Remittance basis
34
“Relevant person”
35
Foreign currency bank accounts
Other international matters
36
Penalties: offshore income etc
37
Reliefs and reductions for foreign tax
38
Asset transfer to non-resident company: recovery of postponed charge
iii
Securities etc
39
Transactions in securities
40
Approved CSOP schemes: eligible shares
41
Unauthorised unit trusts
42
Index-linked gilt-edged securities
43
Approved share incentive plans
Loan relationships and derivative contracts
44
Close companies: release of loans to participators etc
45
Connected companies: releases of debts
46
Relationships treated as loan relationships etc: repos
47
Risk transfer schemes
Insurance companies
48
Apportionment of asset value increases
Pensions
49
Extension of special annual allowance charge
50
Information
Value added tax and insurance premium tax
51
Extension of reverse charge provisions to supplies of services
52
Insurance premium tax: separate contracts
53
Reversionary interests of purchaser or settlor etc in relevant property
54
Interests in possession
Stamp taxes
55
SDRT: depositary receipt systems and clearance services systems
56
SDLT: partnerships
Administration
57
Disclosure of tax avoidance schemes
58
Security for payment of PAYE
59
Opening of postal packets
Part 3
Other provisions
Income tax: benefits in kind
60
Zero and low emission vehicles
61
Cars with CO2 emissions figure
62
Subsidised meals for employees: salary sacrifice etc
iv
63
Sale of lessors: election out of charge
64
Accounting standards: loan relationships and derivative contracts
Miscellaneous
65
Furnished holiday lettings
66
Champions League final
67
FSCS intervention in relation to insurance contracts
68
Stamp duty and SDRT: clearing houses
69
Alcoholic liquor duties: power to amend definition of “cider”
70
Climate change levy: compatible state aid
71
Pensions: minor corrections
Final provisions
72
Interpretation
73
Short title
Schedule 1 —
Part 1 —
The tax
Part 2 —
Collection and management of tax
Part 3 —
Definitions
Schedule 2 —
Schedule 3 —
Schedule 4 —
Schedule 5 —
Schedule 6 —
Schedule 7 —
Definition of “charity”, “charitable company” and “charitable
trust”
Repeals of superseded definitions and other consequential
amendments
Meaning of “community amateur sports club”
Part 4 —
Commencement
Schedule 8 —
Schedule 9 —
Charities: miscellaneous amendments
Schedule 10 —
Schedule 11 —
Schedule 12 —
Schedule 13 —
Schedule 14 —
Schedule 15 —
Schedule 16 —
Schedule 17 —
Schedule 18 —
Schedule 19 —
Schedule 20 —
Accounting standards: loan relationships and derivative
contracts
Schedule 21 —
v
Chargeable gains
Part 5 —
Minor repeals
Schedule 22 —