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SCHEDULES

Section 34.

SCHEDULE 4U.K. Tax credits, taxation of distributions etc

Modifications etc. (not altering text)

C1Sch. 4 applied (with modifications) ( temp. from 6.4.1999 to 6.4.2004) by S.I. 1998/1871, reg. 4

Part I U.K. General

U.K.The Taxes Management Act 1970

Section 7U.K.

1(1)In section 7 of the M1Taxes Management Act 1970 (notice of liability to income tax and capital gains tax) in subsection (6) (sources of income which fall within that subsection) after the words “other than the basic rate” there shall be inserted “ , the Schedule F ordinary rate ”.U.K.

(2)This paragraph has effect for the year 1999-00 and subsequent years of assessment.

Marginal Citations

Section 42 (pre-corporation tax self-assessment version)U.K.

Modifications etc. (not altering text)

C2Sch. 4 para. 2 modified (31.7.1998) by 1998 c. 36, s. 90(2)(b)

2(1)In section 42 of the Taxes Management Act 1970 (procedure for making claims), as it has effect in relation to corporation tax for accounting periods ending before the day appointed under section 199 of the M2Finance Act 1994, the following provisions shall cease to have effect—U.K.

(a)in subsection (5) (form of claim) the words “Subject to subsection (5A) below,”;

(b)subsection (5A) (claims by companies for payment of tax credits); and

(c)subsection (10A) (extended meaning of terms used in subsection (5A)).

(2)This paragraph has effect in relation to tax credits in respect of distributions made on or after 6th April 1999.

Marginal Citations

Section 42 (corporation tax self-assessment version)F1F1U.K.

Textual Amendments

F1Sch. 4 para. 3 repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(28)) by 1998 c. 36, ss. 117, 165, Sch. 27 Pt. III(28) Note

Modifications etc. (not altering text)

C3Sch. 4 para. 3 modified (31.7.1998) by 1998 c. 36, s. 90(2)(a)

3(1)In section 42 of the Taxes Management Act 1970 (procedure for making claims), as it has effect in relation to corporation tax for accounting periods ending on or after the day appointed under section 199 of the Finance Act 1994, the following provisions shall cease to have effect—U.K.

(a)subsections (4) and (4A) (claims by companies for payment of tax credits); and

(b)in subsection (5), the words from “and the reference in subsection (4) above” onwards.

(2)This paragraph has effect in relation to tax credits in respect of distributions made on or after 6th April 1999.

U.K.The Taxes Act 1988

Section 231U.K.

F24U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 232U.K.

F35U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 233U.K.

F46U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Sections 235 to 237U.K.

7(1)Sections 235 to 237 of the Taxes Act 1988 (distributions of exempt funds and bonus issues) shall cease to have effect.U.K.

(2)This paragraph has effect in relation to distributions made on or after 6th April 1999.

Section 238F5F5U.K.

Textual Amendments

F5Sch. 4 para. 8 repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by 1998 c. 36, ss. 31, 165, Sch. 3 para. 45, Sch. 27 Pt. III(2) Note

8U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 241F6F6U.K.

Textual Amendments

F6Sch. 4 para. 9 repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by 1998 c. 36, ss. 31, 165, Sch. 3 para. 46, Sch. 27 Pt. III(2) NOte

9U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 249U.K.

F710U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 421U.K.

F811U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F8Sch. 4 para. 11 repealed (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

Section 469U.K.

F912U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Section 549U.K.

F1013U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 660CU.K.

F1114U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 687U.K.

F1215U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Section 689BU.K.

F1316U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F13Sch. 4 para. 16 repealed (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

Section 699U.K.

F1417U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 703F15F15U.K.

Textual Amendments

F15Sch. 4 para. 18 repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by 1998 c. 36, ss. 31, 165, Sch. 3 para. 47, Sch. 27 Pt. III(2) Note

18U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 709U.K.

19(1)In section 709 of the Taxes Act 1988 (meaning of tax advantage etc) in subsection (2A) (references to a relief and to repayment of tax to include references to a tax credit and payment of any amount in respect of a tax credit) the words “and to a repayment of tax”, “respectively” and “and to a payment of any amount in respect of a tax credit” shall be omitted.U.K.

(2)This paragraph has effect for the year 1999-00 and subsequent years of assessment.

Section 743U.K.

F1620U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Section 819U.K.

F1721U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F17Sch. 4 para. 21 repealed (1.4.2010) (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 13 (with Sch. 9 paras. 1-9, 22)

Section 832U.K.

F1822U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Schedule 13F19F19U.K.

Textual Amendments

F19Sch. 4 para. 23 repealed (31.7.1998 with effect as mentioned in Sch. 27 Pt. III(2) Note of the amending Act) by 1998 c. 36, ss. 31, 165, Sch. 3 para. 48, Sch. 27 Pt. III(2) Note

23U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

U.K.The Taxation of Chargeable Gains Act 1992

Section 4U.K.

F2024U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F20Sch. 4 para. 24 omitted (21.7.2008) (with effect in accordance with Sch. 2 para. 22 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 2 para. 21(b)

Section 6U.K.

F2125U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F21Sch. 4 para. 25 omitted (21.7.2008) (with effect in accordance with Sch. 2 para. 22 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 2 para. 21(b)

Part II U.K. Insurance companies and Lloyd’s underwriters

U.K.The Taxes Act 1988

Section 231BU.K.

26(1)In section 231B of the Taxes Act 1988, in subsection (4)(b), the words “or 441A(7)” shall be omitted.U.K.

(2)This paragraph has effect in relation to distributions made on or after 6th April 1999.

Section 434U.K.

F2227U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 441AU.K.

28(1)In section 441A, subsections (2) to (8) (regulations about tax credits to which insurance companies are entitled) shall cease to have effect.U.K.

(2)This paragraph has effect in relation to distributions made on or after 6th April 1999.

Schedule 19ACU.K.

F2329U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

U.K.The Finance Act 1993

Schedule 20U.K.

Prospective

30(1)In Schedule 20 to the M3Finance Act 1993 (Lloyd’s underwriters: special reserve funds) the following provisions shall cease to have effect—U.K.

(a)paragraph 9(3) (claims for payment of tax credits); and

(b)in paragraph 11(3)(c) (value of fund as increased by tax repayment or tax credit received under paragraph 9(2) or (3)) the words “or tax credit received” and “or (3)”.

(2)Sub-paragraph (1) above has effect in relation to distributions made on or after 6th April 1999.

Marginal Citations