Finance (No. 2) Act 1992 (c. 48)

1. Introductory Text

2. Part I Customs and Excise, Value Added Tax and Car Tax

   1. Chapter I Customs and Excise

      1. Abolition of fiscal frontiers etc.

         1. 1. Powers to fix excise duty point.

         2. 2. Power to provide for drawback of excise duty.

         3. 3. Protection of revenues derived from excise duties.

         4. 4. Enforcement powers.

         5. 5. Controls of persons entering the United Kingdom.

      2. Other provisions

         1. 6. Abolition of duties on matches and mechanical lighters.

         2. 7. Bingo duty: increased exemption etc.

         3. 8. Tobacco products duty: retail price of cigarettes.

         4. 9. Amendments relating to new beer duty regime.

         5. 10. Search of aircraft.

         6. 11. Vehicles excise duty: goods vehicles.

         7. 12. Vehicles excise duty: disabled persons.

         8. 13. Vehicles excise duty: registration marks.

   2. Chapter II Value Added Tax

      1. 14. Abolition of fiscal frontiers etc.

      2. 15. Time for raising and answering inquiries.

      3. 16. Special treatment for persons involved in farming etc.

      4. 17. Fuel and power.

   3. Chapter III Car Tax

      1. 18. Abolition of fiscal frontiers.

3. Part II Income Tax, Corporation Tax and Capital Gains Tax

   1. Chapter I General

      1. Lower rate

         1. 19. Lower rate: further provisions.

      2. Married couple’s allowance etc.

         1. 20. Married couple’s allowance etc.

      3. Corporation tax charge and rate

         1. 21. Charge and rate of corporation tax for 1992.

         2. 22. Small companies.

      4. Capital gains tax

         1. 23. Capital gains tax: rates.

      5. Groups etc.

         1. 24. Amendments relating to group relief etc.

         2. 25. Companies ceasing to be members of groups.

      6. Charities etc.

         1. 26. Donations to charity: minimum limits.

         2. 27. Covenanted payments to charity.

         3. 28. Powers of inspection.

      7. Interest, dividends and distributions

         1. 29. Returns of interest.

         2. 30. Foreign dividends.

         3. 31. Equity notes.

         4. 32. Information relating to distributions.

      8. Securities and deposits

         1. 33. Deep gain securities.

         2. 34. Rights in pursuance of deposits.

         3. 35. Exchange of securities.

      9. Employee shares

         1. 36. Employee share ownership trusts.

         2. 37. Employee share schemes: special benefits.

      10. Business expansion scheme

          1. 38. No relief for shares issued after 1993.

          2. 39. Extension of relief for private rented housing: property managing companies.

          3. 40. Extension of relief for private rented housing: lettings to former owner-occupiers.

          4. 40A. Revenue nature of expenditure on master versions of films

          5. 40B. Allocation of expenditure to periods

          6. 40C. Cases where section 40B does not apply

          7. 40D. Election for sections 40A and 40B not to apply

      11. Films

          1. 41. Relief for preliminary expenditure.

          2. 42. Relief for production or acquisition expenditure.

          3. 43. Interpretation of sections 41 and 42.

      12. Transfers of trade

          1. 44. Transfer of a UK trade: amendment of 1992 Act.

          2. 45. Transfer of a non-UK trade: amendment of 1992 Act.

          3. 46. Transfer of a trade: supplementary (1).

          4. 47. Transfer of a UK trade: amendment of 1970 Act.

          5. 48. Transfer of a non-UK trade: amendment of 1970 Act.

          6. 49. Transfer of a trade: supplementary (2).

      13. Double taxation relief

          1. 50. Transfer of a non-UK trade.

          2. 51. The Arbitration Convention.

          3. 52. Interest.

      14. Miscellaneous

          1. 53. Car fuel: cash equivalents.

          2. 54. Foreign earnings.

          3. 55. Oil extraction activities: extended transportation.

          4. 56. Friendly societies.

          5. 57. Rents or receipts between connected persons.

          6. 58. Rent etc. chargeable under Case VI.

          7. 59. Furnished accommodation.

          8. 60. Deduction on account of certain payments.

          9. 61. Qualifying maintenance payments: extension to member States.

          10. 62. Qualifying maintenance payments: maintenance assessments etc.

          11. 63. Paying and collecting agents etc.

          12. 64. Reduced and composite rate.

          13. 65. Life assurance business: I minus E basis.

          14. 66. Banks etc. in compulsory liquidation.

   2. Chapter II Capital allowances

      1. 67. Transfer of a UK trade.

      2. 68. Computer software.

      3. 69. Films etc.

      4. 70. Enterprise zones.

      5. 71. Expensive motor cars.

4. Part III Miscellaneous and General

   1. Inheritance tax

      1. 72. Increase of rate bands.

      2. 73. Business and agricultural property relief.

   2. Petroleum revenue tax

      1. 74. Oil exported direct from United Kingdom off-shore fields.

   3. General and Special Commissioners

      1. 75. Change of name.

      2. 76. Miscellaneous.

   4. Miscellaneous

      1. 77. Northern Ireland Electricity.

      2. 78. Gas levy: restriction of liability.

      3. 79. Treasury bills.

      4. 80. Publication of rates of interest.

   5. General

      1. 81. Interpretation.

      2. 82. Repeals.

      3. 83. Short title.