- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (06/04/1992)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 27/07/1999
Point in time view as at 06/04/1992.
There are currently no known outstanding effects for the Finance Act 1970.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Textual Amendments
F1S. 1 repealed by Statute Law (Repeals) Act 1974 (c. 22), Sch. Pt. II
(1)–(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
(9)Part II of Schedule 1 to this Act shall have effect for supplementing the provisions of this section (in that Schedule called “the principal section").
(10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
Textual Amendments
F2Ss. 2(1)–(8)(10), 3 repealed by Betting and Gaming Duties Act 1972 (c. 25), Sch. 7
Textual Amendments
F3Ss. 2(1)–(8)(10), 3 repealed by Betting and Gaming Duties Act 1972 (c. 25), Sch. 7
Textual Amendments
F4S. 4 repealed with savings by Finance Act 1977 (c. 36), s. 59(5), Sch. I Pt. II
Textual Amendments
(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6
(2)Angostura bitters shall be deemed not to be spirits for the purposes of—
(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6
(b)[F7the Licensing (Scotland) Act 1976], the Licensing Act 1964 and any other enactment (whether passed before or after the commencement of this Act) in which “spirits” has the same meaning as in either of those Acts;
and accordingly angostura bitters shall be treated as a non-intoxicating drink for the purposes of the enactments specified in paragraph (b) above.
Textual Amendments
F6S. 6(1)(2)(a) repealed by Alcoholic Liquor Duties Act 1979 (c. 4), Sch. 4 Pt. I
F7Words substituted by virtue of Interpretation Act 1978 (c. 30), s. 17(2)(a)
(1)–(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8
(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9
(6)(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8
(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9
Textual Amendments
F8S. 7(1)–(4)(6)(7) repealed by Alcoholic Liquor Duties Act 1979 (c. 4), Sch. 4 Pt. I
Textual Amendments
Textual Amendments
F11S. 9 repealed by Vehicles (Excise) Act 1971 (c. 10), s. 39(5), Sch. 8 Pt. I
Textual Amendments
F12S. 10 repealed by Finance Act 1973 (c. 51), s. 59(7), Sch. 22 Pt. I
Textual Amendments
F13Ss. 11–14 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844 and Sch. 31
Textual Amendments
Textual Amendments
F15S. 16 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844 and Sch. 31
Textual Amendments
F16S. 17 repealed by Finance Act 1972 (c. 41), ss. 75(7)(8) and 134, Sch. 10 para.10 and Sch. 28 Part V except as respects interest paid or payable before 1972–73
Schedule 4 to this Act (which contains amendments of the Taxes Act and of the Capital Allowances Act 1968) shall have effect.
Textual Amendments
F17Ss. 19–26 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844 and Sch. 31
Textual Amendments
F18S. 27 repealed (6.4.1992 with effect as mentioned in s. 289(1) of 1992 c. 12) by Taxation of Chargeable Gains Act 1992 (c. 12), s. 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)
Textual Amendments
F19S. 28 repealed (6.4.1992 with effect as mentioned in s. 289(1) of 1992 c. 12) by Taxation of Chargeable Gains Act 1992 (c. 12), s. 290, Sch.12 (with s. 201(3), Sch. 11 paras. 22, 26(2), 27)
(1)(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F20
F21(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F20
F21(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F21(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F21(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F20
F21(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F20S. 29(1)(2)(3)(a)(4)(8) repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844(4), Sch. 31
F21S. 29(3)(5)(6)(7)(9) repealed (6.4.1992 with effect as mentioned in s. 289(1) of 1992 c. 12) by Taxation of Chargeable Gains Act 1992 (c. 12), s. 290, Sch.12 (with Sch. 11 paras. 22, 26(2), 27)
Textual Amendments
F22S. 30 repealed by Finance Act 1989 (c. 26), s. 187(1), Sch. 17 Pt. X
Textual Amendments
F23S. 31 repealed with savings by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Pt. I
The provisions of Schedule 7 to this Act shall have effect, being—
(a)in the case of those in Part I of that Schedule, provisions abolishing, or consequential on the abolition of, certain stamp duties,
(b)in the case of those in Part II of that Schedule, provisions making general amendments of or in connection with the enactments relating to stamp duties, and
(c)in the case of those in Part III of that Schedule, special provisions required for the purposes of those enactments in connection with the introduction of the new currency provided for by the M1Decimal Currency Act 1967.
Marginal Citations
(1)The Commissioners may enter into an agreement with, or with persons acting on behalf of, any recognised stock exchange for the composition, in accordance with the provisions of this section, of the stamp duty chargeable under or by reference to the heading “ Conveyance or Transfer on Sale ”[F25 or “Conveyance or Transfer of any kind not hereinbefore described” in Schedule 1 to the Stamp Act 1891 F26 on such instruments as may be specified in the agreement, F27. . . In this subsection “recognised stock exchange” means the Stock Exchange, London, and any other stock exchange declared by an order in force under section 4 of the Stock Transfer Act 1963 to be a recognised stock exchange for the purposes of that Act.
(2)An agreement under this section shall provide—
(a)for every instrument to which the agreement relates to bear on its face an indication of the amount of stamp duty chargeable thereon,
(b)for the issue in respect of every such instrument, by or on behalf of the stock exchange, of a certificate (which may relate to more than one such instrument) to the effect that stamp duty to the amount so indicated has been, or will be, accounted for to the Commissioners,
(c)for the delivery to the Commissioners, by or on behalf of the stock exchange, of periodical accounts in respect of instruments to which the agreement relates, giving such particulars with respect thereto as may be specified in the agreement, and
(d)for the payment to the Commissioners, by or on behalf of the stock exchange and on the delivery of any such account, of the aggregate amount of the stamp duty chargeable as mentioned in subsection(1) above on instruments to which the agreement relates during the period to which the account relates ;
and any such agreement may contain such other terms and conditions as the Commissioners think proper.
(3)For the purposes of any agreement under this section, the form of brokers transfer provided for by section 1(2) of the Stock Transfer Act 1963 F28 may be used in connection with any transaction notwithstanding that the particulars referred to in that provision could be inserted in the stock transfer there referred to.
(4)An instrument to which an agreement under this section relates and in respect of which a certificate to the effect mentioned in subsection (2)(b) above has been issued by or on behalf of the stock exchange in question shall be treated for the purposes of the Stamp Act 1891 F29 as stamped with the amount of duty indicated on the face of the instrument.
(5)A stock exchange or person making default in delivering any account required by an agreement under this section, or in paying any amount in accordance with such an agreement, shall be liable to a fine not exceeding £50 for any day during which the default continues; and, in addition, every amount payable under such an agreement shall bear interest at the rate of 5 per cent, per annum, recoverable by Her Majesty, from the due date for delivery of the account by reference to which it is payable until the actual date of payment.
(6)Except in so far as the context otherwise requires, any reference to a stamp in section 9 or 10 of the Stamp Duties Management Act 1891 F30 (allowances for spoiled stamps) shall include a reference to any indication of an amount of stamp duty on the face of any instrument to which an agreement under this section relates.]
Textual Amendments
F24S. 33 extended by Finance Act 1976 (c. 40), s. 127(7).
F25Words inserted by Finance Act 1976 (c. 40), s. 127(4)
F27Words repealed by Finance Act 1976 (c. 40), s. 127(4).
Textual Amendments
F31S. 34 repealed by Finance Act 1980 (c. 48), s. 122, Sch. 20 Pt. IX
Textual Amendments
F32S. 35 repealed by Northern Ireland (Loans) Act 1975 (c. 83), s. 4(2), Sch.
(1)This Act may be cited as the Finance Act 1970.
(2)In this Act—
(a)except where the context otherwise requires, “the Board” means the Commissioners of Inland Revenue,
(b)“the Taxes Act” means the Income and Corporation Taxes Act 1970,
(c)“the Management Act” means the Taxes Management Act 1970.
(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F33
(4)Part II of this Act, so far as it relates to income tax, shall be construed as one with the Income Tax Acts and, so far as it relates to corporation tax, shall be construed as one with the Corporation Tax Act.
(5)Part III of this Act, so far as it relates to stamp duties, shall be construed as one with the M2Stamp Act 1891.
(6)Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended or applied by or under any other enactment, including this Act.
(7)Except as otherwise expressly provided such of the provisions of this Act as relate to matters in respect of which the Parliament of Northern Ireland has power to make laws shall not extend to Northern Ireland.
(8)The enactments mentioned in Schedule 8 to this Act (which include enactments which are spent or otherwise unnecessary) are hereby repealed to the extent mentioned in the third column of that Schedule, but subject to any provision in relation thereto made at the end of any Part of that Schedule.
Textual Amendments
F33S. 36(3) repealed by Customs and Excise Management Act 1979 (c. 2, SIF 40:1), s. 177(3), Sch. 6 Pt. I
Modifications etc. (not altering text)
C1The text of s. 36(8) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
Marginal Citations
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