Finance Act 1971

1971 CHAPTER 68

An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.

[5th August 1971]X1 X2

Editorial Information

X1 The text of ss. 6(1), 7, 69(1)(4) was taken from SIF group 107:2 (Road Traffic:Vehicle Excise Duty), ss. 13–60, 69, Schs. 2–12, 14 from SIF group 63:1 (Income, Corporation and Capital Gains Taxes:Income and Corporation Taxes), ss. 66–69(1)(4)(5), Sch. 13 from SIF group 99:7 (Public Finance and Economic Control:Miscellaneous), ss. 64, 69(1)(4)-(6) from SIF group 114 (Stamp Duty); provisions omitted from SIF have been dealt with as referred to in other commentary.

X2 General amendments to Tax Acts, Income Tax Acts, and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) but not against each Act

Modifications etc. (not altering text)

C1 Words of enactment omitted under authority of Statute Law Revision Act 1948 (c. 62), s. 3

Act applied (3.5.1994) by 1994 c. 9, s. 118(8)

Commencement Information

I1 Act partly in force at Royal Assent, partly retrospective, partly prospective, see individual sections; all provisions so far as unrepealed wholly in force at 1.2.1991

Part I U.K. Customs and Excise

1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 U.K.

Textual Amendments

F1 S. 1 repealed by European Communities Act 1972 (c. 68), s. 4, Sch. 3 Pt. I; Finance Act 1977 (c. 36), s. 59(5), Sch. 9 Pt. I

2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2 U.K.

Textual Amendments

F2 S. 2 repealed by Finance Act 1977 (c. 36), s. 59(5), Sch. 9 Pt. I

3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3 U.K.

Textual Amendments

F3 S. 3 repealed by Hydrocarbon Oil Duties Act 1979 (c. 5), s. 28(2), Sch. 7; Excise Duties (Surcharges or Rebates) 1979 (c. 8), s. 4(3), Sch. 2

4, 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4 U.K.

Textual Amendments

F4 S. 4, 5 repealed by Finance Act 1972 (c. 41), ss. 54(8), 134(7), Sch. 28 Pt. II

6 Agricultural machines—vehicles excise duty and customs and excise duty. U.K.

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5

(2) As from the said 1st September, in Schedule 1 to the M1 Hydrocarbon Oil (Customs & Excise) Act 1971 (vehicles in which heavy oil may be used without repayment of rebate)—

(a) the reference in paragraph 2(b) to the said Schedule 3 shall be construed as a reference to that Schedule as amended by subsection (1) above, and

(b) the reference to an agricultural machine in paragraph 3(b) shall not include any vehicle which does not satisfy the conditions specified in paragraphs (a) and (b) of section 6(1) of the M2 Finance Act (Northern Ireland) 1971 (which makes provision corresponding to that made by subsection (1) above).

Textual Amendments

F5 S. 6(1) repealed by Finance Act 1989 (c. 26, SIF 107:2), s. 187(1), Sch. 17 Pt. II (in relation to licences taken out after 14.3.1989)

Modifications etc. (not altering text)

C2 The text of ss. 6(2), 68, Sch. 6 paras. 83, 87 to 90 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

M1 1971 c. 12.

M2 1971 c. 27 (N.I.).

F6 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.K.

Textual Amendments

F6 S. 7 repealed (13.10.1993) by Finance (No. 2 Act) 1992 (c. 48), ss. 12(1)(a), 82, Sch. 18 Pt. IV; SI 1993/2272 art.2 (with Sch. para. 2)

8—10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7 U.K.

Textual Amendments

F7 S. 8–10 repealed by Betting and Gaming Duties Act 1972 (c. 25), s. 29(2), Sch. 7

11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8 U.K.

Textual Amendments

F8 S. 11 repealed by Customs and Excise Management Act 1979 (c. 2), s. 177(3), Sch. 6 Pt. I

12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9 U.K.

Textual Amendments

F9 S. 12 repealed by Finance Act 1973 (c. 51), s. 59(7), Sch. 22 Pt.I

PART II U.K. INCOME TAX AND CORPORATION TAX

CHAPTER I U.K. GENERAL

13.to 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10 U.K.

Textual Amendments

F10 Ss. 13 to 20 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31.

21 Occupational pension schemes U.K.

(1)to (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11

(6) [F12 Part II of Schedule 3 to this Act shall have effect]

Textual Amendments

F11 S. 21(1) to (5) repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF: 63:1)

F12 Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29 para. 32

22—28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F13 U.K.

Textual Amendments

F13 Ss. 22 to 28 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)

Modifications etc. (not altering text)

C3 S. 22(4)-(10): power to continue conferred (1. 7. 1992) by Social Security (Consequential Provisions) Act 1992 (c. 6), ss. 5, 7(2), Sch. 3 Pt. II para.15.

CHAPTER II U.K. SUB-CONTRACTORS IN CONSTRUCTION INDUSTRY

29 (Deductions on account of income tax from payments to certain sub-contractors in construction industry.) U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F14

Textual Amendments

F14 Chapter II, ss. 29-31,ceased to have effect and was replaced byFinance (No. 2) Act 1975 Part III Ch. II, ss. 68-71which was in turn replaced byIncome and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss.559-567.

30 (Exceptions from section 29.) U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F15

Textual Amendments

F15 Chapter II, ss. 29-31,ceased to have effect and was replaced byFinance (No. 2) Act 1975 Part III Ch. II, ss. 68-71which was in turn replaced byIncome and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss.559-567.

31 (Interpretation of Chapter II.) U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F16

Textual Amendments

F16 Chapter II, ss. 29-31,ceased to have effect and was replaced byFinance (No. 2) Act 1975 Part III Ch. II, ss. 68-71which was in turn replaced byIncome and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss.559-567.

CHAPTER III U.K. METHOD OF CHARGING INCOME TAX FOR 1973-74 AND SUBSEQUENT YEARS

32.to 36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F17 U.K.

Textual Amendments

F17 Ss. 32 to 36 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31.

37 Consequential amendments and repeals. U.K.

(1) The enactments mentioned in Schedule 6 to this Act shall have effect subject to the amendments specified therein.

(2) The enactments mentioned in Part II of Schedule 14 to this Act are hereby repealed to the extent specified in the third column of that Part.

38 Commencement of Chapter III and transitional provisions. U.K.

(1) The preceding provisions of this Chapter shall have effect for the year 1973-74 and subsequent years of assessment; and accordingly the amendments and repeals made by those provisions (including those mentioned in section 37 of this Act) shall not be taken to affect tax for an earlier year of assessment or the doing of anything in relation to tax for such a year.

(2) The transitional provisions contained in Schedule 7 to this Act shall have effect.

39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F18 U.K.

Textual Amendments

F18 S. 39 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)

PART III U.K. INCOME TAX AND CORPORATION TAX: CAPITAL ALLOWANCES

40.to 54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F19 U.K.

Textual Amendments

F19 Ss. 40 to 54 repealed by Capital Allowances Act 1990 (c. 1, SIF 63:1), s. 164(4) and Sch. 2.See Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 197D(8)—calculation of taxed mileage profit: vehicles used by employees.

PART IV U.K. TAX ON CAPITAL GAINS AND ESTATE DUTY

F20 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.K.

Textual Amendments

F20 S. 55 repealed (1992-93 and subsequent years of assessment) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289(1), 290, Sch. 12 (with ss. 60, 101(1), 201(3), Sch. 11 paras. 22, 26(2), 27).

56 (Taxation of short-term capital gains.) U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F21

Textual Amendments

F21 S. 55(1) to (4)(6) and 56 repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 158 and Sch. 8for 1979-80et seq.

57 (Exemption or relief for small disposals). U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F22

Textual Amendments

F22 S. 57 repealed by Finance Act 1978 (c. 42), ss. 44(7), 80, Sch. 13 Part IVfor 1977-78et seq.]

58 (Disposal of options.) U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F23

Textual Amendments

F23 Ss. 58 to 60 repealed with savings and replaced by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), ss. 157(1), 158, Sch. 6 para. 10(2)(b), Sch. 8 for 1979-80 et seq.

59 (Abolition of charge to capital gains tax on death, etc.) U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F24

Textual Amendments

F24 Ss. 58 to 60 repealed with savings and replaced by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), ss. 157(1), 158, Sch. 6 para. 10(2)(b), Sch. 8 for 1979-80 et seq.

60 (Replacement of business assets.) U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F25

Textual Amendments

F25 Ss. 58 to 60 repealed with savings and replaced by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), ss. 157(1), 158, Sch. 6 para. 10(2)(b), Sch. 8 for 1979-80 et seq.

61, 62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F26 U.K.

Textual Amendments

F26 Ss. 61, 62 repealed with savings by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Part I

PART V U.K. MISCELLANEOUS

63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F27 U.K.

Textual Amendments

F27 Ss. 63 repealed by Finance Act 1972 (c. 41), ss. 122(5), 134(7), Sch. 28 Part VIII

64 Stamp Duty— abolition of duty on bonds, mortgages etc. U.K.

(1) The following stamp duties are hereby abolished—

(a) except as respects any instrument increasing the rent reserved by another instrument, the duties chargeable by virtue of paragraph (1) and paragraph (2) (securities for annuities other than superannuation annuities and for certain other periodic sums) of the heading in Schedule 1 to the M3 Stamp Act 1891 “Bond, Covenant, or Instrument of any kind whatsoever”,

(b) the duties chargeable by virtue of the heading in that Schedule “Bond of any kind whatsoever not specifically charged with any duty”, and

(c) the duties chargeable by virtue of the heading in that Schedule beginning “Mortgage, Bond, Debenture, Covenant”.

(2) Subject to section 4 of the said Act of 1891 (separate charges on instruments containing or relating to several distinct matters) . . . F28 , any instruments which, but for subsection (1) above, would be chargeable with duty under a heading mentioned in that subsection shall not be chargeable with duty under any other heading in the said Schedule 1.

(3) For the avoidance of doubt it is hereby declared that paragraph (c) of subsection (1) above does not affect the amount of any duty chargeable under the said Schedule 1 by reference to the heading mentioned in that paragraph.

(4) This section has effect as from 1st August 1971.

Textual Amendments

F28 Words repealed by Finance Act 1985 (c. 54, SIF 114), s. 98(6), Sch. 27 Pt. IX(1)

Marginal Citations

M3 1891 c. 39.

65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F29 U.K.

Textual Amendments

F29 S. 65 repealed by Finance Act 1976 (c. 40), ss. 126(4), 132(5), Sch. 15 Pt. VI

66 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F30 U.K.

Textual Amendments

F30 S. 66 repealed by Finance Act 1982 (c. 39, SIF 63:1), s. 157, Sch. 22 Pt. V

67 Confirmation of health service agreement with Northern Ireland and U.K. contribution towards cost of certain allowances and benefits in Northern Ireland. U.K.

(1) Confirmation is hereby given to the agreement between the Treasury and the Ministry of Finance for Northern Ireland set out in Schedule 13 to this Act (an agreement which, if confirmed by Acts of the Parliaments of the United Kingdom and Northern Ireland, supersedes as from 1st April 1971 an earlier agreement as amended).

(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F31

(3) The preceding provisions of this section shall not come into operation unless and until Her Majesty by Order in Council declares that a corresponding provision has been enacted by the Parliament of Northern Ireland.

(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F31

Textual Amendments

F31 S. 67(2)(4) repealed by Northern Ireland Constitution Act 1973 (c. 36), Sch. 6 Pt. II

Modifications etc. (not altering text)

C4 Order in Council made under s. 67(3) on 27.10.1971 by S.I. 1971/1749

68 Payments to Banks of England and Ireland in respect of management of Government securities. U.K.

Section 16 of the M4 National Loans Act 1968 (supplemental provisions as to the national debt) shall be amended as follows—

(a) in subsection (7) (under which payments to the Banks of England and Ireland in respect of management of Government securities must relate to management in financial years ending on 31st March), for the words “in the year ending 31st March 1968 or any subseequent financial year” there shall be substiuted the words “in any period”, and

(b) subsection (8) (which governs the calculation of the amount of such payments and the time of payment) shall be omitted.

Modifications etc. (not altering text)

C5 The text of ss. 6(2), 68, Sch. 6 paras. 83, 87 to 90 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

M4 1968 c. 13.

69 Citation, interpretation, construction, extent and repeals. U.K.

(1) This Act may be cited as the Finance Act 1971.

(2) In this Act “the Taxes Act” means the Income and Corporation Taxes Act [F32 1988].

(3) In this Act—

sections 3, 8, 9, 10 and 12 shall be construed as one with the Customs and Excise Act 1952;

Parts II and III, so far as they relate to income tax, shall be construed as one with the Income Tax Acts and, so far as they relate to corporation tax, shall be construed as one with the Corporation Tax Acts;

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F33 .

(4) Except so far as the context otherwise requires, any reference in this Act to any enactment shall be construed as a reference to that enactment as amended, and as including a reference to that enactment as applied, by or under any other enactment, including this Act.

(5) 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 do not extend to Northern Ireland.

(6) If the Parliament of Northern Ireland passes provisions amending or replacing any enactment of that Parliament referred to in this Act the reference shall be construed as a reference to the enactment as so amended or, as the case may be, as a reference to those provisions.

(7) The enactments mentioned in Schedule 14 to this Act (Part VI of which includes certain obsolete enactments) are hereby repealed to the extent mentioned in the third column of that Schedule, but subject to any provision at the end of any Part of that Schedule.

Textual Amendments

F32 Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29 para. 32

F33 Words omitted repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2) s. 158, Sch. 8 for 1979-80 et seq.

Modifications etc. (not altering text)

C6 The text of s. 69(3) and Sch. 6 paras. 84, 85 is in the form in which it was originally enacted: it was not wholly reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

SCHEDULES

F34 F34 SCHEDULE 1 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F34 Sch. 1 repealed by Customns and Excise Management Act 1979 (c. 2, SIF 40:1), s. 177(3), Sch. 6 Part I

SCHEDULE 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F35 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F35 Sch. 2 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

Section 21.

SCHEDULE 3 U.K. OCCUPATIONAL PENSION SCHEMES

PART I U.K. TRANSITIONAL

1.to 7. U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F36

Textual Amendments

F36 Sch. 3 paras. 1 to 7, 9 to 13, Sch. 4, Sch. 6 paras. 1 to 80, 91 to 93, Sch. 7 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

Schemes approved under old law Taxation of refunds of contributions and commutation payments U.K.

8 (1) This paragraph has effect as respects any payment chargeable to tax for the year 1971-72 or any later year of assessment under Regulation 7, 8 or 13 of the Regulations dated November 10th 1921 made by the Board under section 32 of the Finance Act 1921 (which corresponds to section 208 of the [F37 the Income and Corporation Taxes Act 1970]). U.K.

(2) Where tax is chargeable under the said Regulation 7 (or Regulation 13 with that Regulation) then—

(a) if the scheme relates to a trade, profession or vocation carried on by the employer, the payment shall be treated for the purposes of the Tax Acts as a receipt of that trade, profession or vocation receivable when the payment falls due or on the last day on which the trade, profession or vocation is carried on by the employer, whichever is the earlier;

(b) if the scheme does not relate to such a trade, profession or vocation, the employer shall be charged to tax on the amount of the payment under Case VI of Schedule D.

(3) Where tax is chargeable under the said Regulation 8 (or Regulation 13 with that Regulation), [F38 section 598(2) to (4) of the Taxes Act] shall apply as they apply to tax chargeable under that paragraph.

(4) If at any time the scheme becomes an approved scheme (that is to say approved for the purposes of Chapter II of Part II of the Finance Act [F38 1970 or Chapter I of Part XIV of the Taxes Act]) no tax shall be chargeable under the said Regulations on any payment made under the scheme after that time.

(5) The provisions of this paragraph shall have effect in substitution for the provisions of the said Regulations as to the rate of tax and the manner of charging tax, and the said Regulations 7, 8 and 13 shall not cease to be in force by reason of the provisions of this Act repealing the said section 208 of the [F38 the Income and Corporation Taxes Act 1970], or of the provisions of this Act under which in certain cases the said section 208 ceases to apply to a scheme before the date of that repeal.

Textual Amendments

F37 Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29 para. 32

F38 Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29 para. 32

9.to 13. U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F39

Textual Amendments

F39 Sch. 3 paras. 1 to 7, 9 to 13, Sch. 4, Sch. 6 paras. 1 to 80, 91 to 93, Sch. 7 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

SCHEDULE 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F40 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F40 Sch. 3 paras. 1 to 7, 9 to 13, Sch. 4, Sch. 6 paras. 1 to 80, 91 to 93, Sch. 7 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

SCHEDULE 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F41 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F41 Sch. 5 repealed by Finance (No. 2) Act 1975 (c. 45), ss. 68(1), 75(5), Sch. 14 Part IV Note 1with effect from 6April 1977except in relation to sums payable before that day under Finance Act 1971 s. 29

Section 37.

SCHEDULE 6 U.K. AMENDMENTS CONSEQUENTIAL ON NEW METHODS OF CHARGING TAX

PART I U.K.

1.to 80. U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F42

Textual Amendments

F42 Sch. 3 paras. 1 to 7, 9 to 13, Sch. 4, Sch. 6 paras. 1 to 80, 91 to 93, Sch. 7 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

PART II U.K. AMENDMENT OF TAXES MANAGEMENT ACT 1970

81 U.K. The Taxes Management Act 1970 shall be amended in accordance with the following provisions of this Part of this Schedule.

82 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F43

Textual Amendments

F43 S. 82 repealed by Capital Allowances Act 1990 (c. 1, SIF 63:1), s. 132, Sch. 19 Part Vwhere a notice to deliver a return was, or falls to be, given after 5April 1990.

83 U.K. In section 22 the words “for the purpose of charging surtax” shall be omitted.

Modifications etc. (not altering text)

C7 The text of ss. 6(2), 68, Sch. 6 paras. 83, 87 to 90 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.

84 U.K. In section 29—

(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F44

(b) in subsection (4) the words “at the standard rate” shall be omitted; and

(c) in subsection (7) the words “at the standard rate” shall be omitted.

Textual Amendments

F44 Sch. 6 paras. 84(a), 85(b) repealed by Finance Act 1972 (c. 41), s. 134, Sch. 28 Part VI

Modifications etc. (not altering text)

C8 The text of s. 69(3) and Sch. 6 paras. 84, 85 is in the form in which it was originally enacted: it was not wholly reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

85 U.K. In section 31(3)—

(a) in paragraph (a) the words “assessment to surtax, or any other” shall be omitted;

(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F45 ; and

(c) after the paragraphs there shall be added the words “or if the appeal involves any question as to the application of section 30, Part XV or Part XVI of that Act.”.

Textual Amendments

F45 Sch. 6 paras. 84(a), 85(b) repealed by Finance Act 1972 (c. 41), s. 134, Sch. 28 Part VI

Modifications etc. (not altering text)

C9 The text of s. 69(3) and Sch. 6 paras. 84, 85 is in the form in which it was originally enacted: it was not wholly reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

86 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F46

Textual Amendments

F46 Sch. 6 para. 86 repealed by Finance (No. 2) Act 1975 (c. 45, SIF 63:1), s. 75, Sch. 14 Part III

F47 87 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F47 Sch. 6 para. 87 repealed (29.4.1996 with effect as in accordance with Sch. 18 para. 17) by 1996 c. 8, s. 205, Sch. 41 Pt. V(8)

88 U.K. In section 91(3)—

(a) paragraphs (a) and (b)(i) shall be omitted; and

(b) after paragraph (b) there shall be added the following:— “or

(c) affecting tax charged at a rate other than the basic rate on income from which tax has been deducted (otherwise than under section 204 of the principal Act) or is treated as having been deducted, unless it is a relief from tax so charged.”

Modifications etc. (not altering text)

C10 The text of ss. 6(2), 68, Sch. 6 paras. 83, 87 to 90 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.

89 U.K. In section 93(4) for the words from the beginning to “this Act it” there shall be substituted the words “ In relation to a return required for the purposes of section 9 of this Act the reference in subsection (2) above to tax ”

Modifications etc. (not altering text)

C11 The text of ss. 6(2), 68, Sch. 6 paras. 83, 87 to 90 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.

90 U.K. In section 95(3) for the words “include surtax” to “do not” there shall be substituted the words “ do not, in relation to anything done in connection with a partnership ”.

Modifications etc. (not altering text)

C12 The text of ss. 6(2), 68, Sch. 6 paras. 83, 87 to 90 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.

PART III U.K.

91.to 93. U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F48

Textual Amendments

F48 Sch. 3 paras. 1 to 7, 9 to 13, Sch. 4, Sch. 6 paras. 1 to 80, 91 to 93, Sch. 7 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

SCHEDULE 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F49 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F49 Sch. 3 paras. 1 to 7, 9 to 13, Sch. 4, Sch. 6 paras. 1 to 80, 91 to 93, Sch. 7 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

SCHEDULE 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F50 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F50 Sch. 8 repealed by Capital Allowances Act 1990 (c. 1, SIF 63:1), s. 164(4), Sch. 2

Section 55.

SCHEDULE 9 U.K. RESTORATION OF DEVELOPMENT VALUE

1.to 3. U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F51

Textual Amendments

F51 Sch. 9 paras. 1 to 3, 5, Schs. 10, 12 repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 158, Sch. 8for 1979-80et seq.]

4 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F52

Textual Amendments

F52 Sch. 9 para. 4 repealed by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31

5 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F53

Textual Amendments

F53 Sch. 9 paras. 1 to 3, 5, Schs. 10, 12 repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 158, Sch. 8for 1979-80et seq.]

SCHEDULE 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F54 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F54 Sch. 9 paras. 1 to 3, 5, Schs. 10, 12 repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 158, Sch. 8for 1979-80et seq.]

SCHEDULE 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F55 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F55 Sch. 11 repealed by Finance Act 1978 (c. 42), s. 80, Sch. 13 Part IVfor 1977-78seq.]

SCHEDULE 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F56 U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F56 Sch. 9 paras. 1 to 3, 5, Schs. 10, 12 repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), s. 158, Sch. 8for 1979-80et seq.]

Section 67.

SCHEDULE 13 U.K. Health Service Agreement between Treasury and Ministry of Finance for Northern Ireland

The Commissioners of Her Majesty’s Treasury and the Ministry of Finance for Northern Ireland, with a view to assimilating the burdens on the Consolidated Fund of the United Kingdom and the Exchequer of Northern Ireland in respect of health services, have entered into the following Agreement, which supersedes as from 1st April 1971 the M5 Agreement of 11th February 1949 set out in the Schedule to the Social Services (Northern Ireland Agreement) Act 1949, as amended by the M6 Agreement of 28th February 1968 set out in Schedule 19 to the Finance Act 1968.

Marginal Citations

M5 1949 c. 23.

M6 1968 c. 44.

1 (1) There shall be ascertained in respect of each financial year during which this Agreement is in operation the total net cost in Great Britain and in Northern Ireland under the [F57 M7 National Health Service Act 1977] and the M8 National Health Service (Scotland) Act [F58 1978] as they may be amended from time to time, and the corresponding enactments in Northern Ireland. U.K.

(2) The net cost under paragraph (1) above shall be the actual cost as certified annually by the Commissioners of Her Majesty’s Treasury as respects the services in Great Britain and by the Ministry of Finance for Northern Ireland as respects the services in Northern Ireland.

(3) The net cost under paragraph (1) above of services in Northern Ireland shall, in relation to the net cost of the corresponding services in Great Britain, be determined subject to such adjustments, if any, as may be necessary to take account, from time to time, of any differences between methods of administration in Great Britain and in Northern Ireland.

Textual Amendments

F57 Words substituted by National Health Service Act 1977 (c. 49), Sch. 15

F58 Word substituted by National Health Service (Scotland) Act 1978 (c. 29), Sch. 16 para. 36

Marginal Citations

M7 1977 c. 49.

M8 1978 c. 29.

2 (1) If in respect of any financial year the total net cost in Northern Ireland under article 1 of this Agreement is less than 2 per cent. of the total net cost in Great Britain and Northern Ireland, there shall be paid from the Exchequer of Northern Ireland to the Consolidated Fund of the United Kingdom a contribution equal to 90 per cent. of the amount by which the said net cost in Northern Ireland is less than the said 2 per cent. U.K.

(2) If in respect of any financial year the total net cost in Northern Ireland under article 1 of this Agreement exceeds 2 per cent. of the total net cost in Great Britain and Northern Ireland, there shall be paid to the Exchequer of Northern Ireland out of the Consolidated Fund of the United Kingdom a contribution equal to 90 per cent. of the amount by which the said net cost in Northern Ireland exceeds the said 2 per cent.

3 U.K. It is hereby agreed that, subject to such differences as may from time to time exist between the methods of administration in Great Britain and in Northern Ireland of the services covered by this Agreement, the Government of Northern Ireland undertakes to keep the scale and standard of comprehensive health services in Northern Ireland in general conformity with the scale and standard of such services in Great Britain, and to ensure that the rates of remuneration of persons employed in such services in Northern Ireland correspond as nearly as may be with the rates for such services obtaining in Great Britain.

4 U.K. Payments on account of such contributions as may ultimately be found to be due under article 2 of this Agreement from the Exchequer of Northern Ireland or from the Consolidated Fund of the United Kingdom shall be made of such amounts and at such times as may be agreed between the Commissioners of Her Majesty’s Treasury and the Ministry of Finance for Northern Ireland.

5 U.K. Any question arising under this Agreement, whether as to the amount of any adjustments necessary in the determination of net costs in Great Britain and Northern Ireland for the purposes of article 1 of this Agreement, or of any contribution payable under article 2, or otherwise, shall, in default of agreement between the Commissioners of Her Majesty’s Treasury and the Ministry of Finance for Northern Ireland, be determined by the Joint Exchequer Board, whose decision shall be final.

6 U.K. This Agreement shall not come into operation until confirmed by Acts of the Parliaments of the United Kingdom and Northern Ireland respectively, but upon being so confirmed shall have effect as from 1st April 1971.

In Witness whereof Walter Clegg and Hector Monro two of the Commissioners of Her Majesty’s Treasury have hereunto set their hands and seals and the Official Seal of the Ministry of Finance for Northern Ireland has been hereunto affixed this 14th day of April 1971.

Signed Sealed and Delivered by Walter Clegg one of the Commissioners of Her Majesty’s Treasury in the presence of:—	Walter Clegg (L.S.)
Albert George Nicholson Civil Servant, House of Commons, London S.W.1.
Signed Sealed and Delivered by Hector Monro one of the Commissioners of Her Majesty’s Treasury in the presence of:—	Hector Monro (L.S)
Albert George Nicholson Civil Servant, House of Commons, London S.W.1
The Official Seal of the Ministry of Finance for Northern Ireland was hereunto affixed in the presence of:—	H. V. Kirk (L.S.)
D. C. B. Holden Civil Servant, Ministry of Finance, Stormont, Belfast.

Section 69.

SCHEDULE 14 U.K. ENACTMENTS REPEALED

Modifications etc. (not altering text)

C13 The text of Sch. 14 is as it appears in the Taxes Acts (edited by Inland Revenue) and is incomplete.

PART I U.K. OCCUPATIONAL PENSIONS SCHEMES

Section 21.

Chapter	Short Title	Extent of Repeal
1970 c.9	The Taxes Management Act 1970.	In the Table in section 98(3) the entry (in each column) relating to section 224 of the Taxes Act, but not as regards any penalty incurred before this repeal takes effect.
1970 c.10	The Income and Corporation Taxes Act 1970.	[See 1987edition for these repeals.]
1970 c.24	The Finance Act 1970.

[The repeals of theTaxes Management Act 1970took effect on 6th April 1980.

PART II U.K. NEW METHOD OF CHARGING TAX

Section 37.

Chapter	Short Title	Extent of Repeal
1970 c.9	The Taxes Management Act 1970.	In section 7(2), the words from “or in the case” to the end.
		In section 8, subsections (5) and (6) and in subsection (8), the words from “which are required” to “standard rate” and the words “for either or both of those purposes.”
		In section 12(1), the words “at the standard rate”.
		In section 22, the words “for the purpose of charging surtax”.
		In section 29, in subsections (4) and (7), the words “at the standard rate.”
		In section 31(3)(a), the words “assessment to surtax, or any other”.
		In section 33(2), the words from “including” to “surtax”.
		. . . F59
		In section 77(1), the words “chargeable at the standard rate”.
		In section 91(3), paragraph (a) and in paragraph (b), sub-paragraph (i).
1970 c.10	The Income and Corporation Taxes Act 1970.	[See 1987edition for these repeals.]
1970 c.24	The Finance Act 1970
1970 c.54	The Income and Corporation Taxes (No.2) Act 1970.

Textual Amendments

F59 Words omitted and repealed by Finance (No. 2) Act 1975 (c. 45), s. 75, Sch. 14 Part III

These repeals have effect subject to section 38 of this Act.

PART III U.K. BETTERMENT LEVY

Section 55.

Chapter	Short Title	Extent of Repeal
1970 c.9	The Taxes Management Act 1970.	Section 57(2).
1970 c.10	The Income and Corporation Taxes Act 1970.
	Section 269(2).
1970 c.24	The Finance Act 1970.	In section 29, in subsection (2)(b) the words from “including” to “Act”, and in subsection (3) paragraphs (b) and (c).
		In Schedule 6, Part I; and in paragraph 4(1) the words from “but without prejudice” to the end.

These repeals have effect subject to section 55(2) of this Act.

PART IV U.K. CASE VII

Section 56.

Chapter	Short Title	Extent of Repeal
1970 c.9	The Taxes Management Act 1970.	Section 9(5).
		In section 98, in Table I, the words “section 167(4)”.
1970 c.10	The Income and Corporation Taxes Act 1970.
		In section 270, subsections (1) and (2).
		In section 271, subsections (1) to (3).
1970 c.24	The Finance Act 1970.

These repeals have effect subject to section 56(4) of this Act.

PART VII U.K.

[See 1987edition for these provisions.]