Income Tax Act 2007

32 Liability not dealt with in the calculation U.K.

The liabilities referred to in section 22(2) are income tax liability—

• [F1 under section 74C(5) (non-active traders: withdrawal of relief),]

• under section 79(1) (capital allowances restrictions: withdrawal of relief),

• under section 81(6) (dealings in commodity futures: withdrawal of relief),

• under [F2 section 103B(5)] (non-active partners: withdrawal of relief),

• under section 235 (withdrawal or reduction of EIS relief),

• under sections 266 to 270 (withdrawal or reduction of VCT relief),

• under section 372 (withdrawal or reduction of CITR),

• under section 512 (heritage maintenance settlements: application of property for non-heritage purposes),

• under Chapter 1 of Part 13 (transactions in securities),

• under regulations made under section 918(4) (foreign payers of manufactured dividends: Real Estate Investment Trusts: the reverse charge),

• under section 920 or 923 (foreign payers of manufactured interest or manufactured overseas dividends: the reverse charge),

• under Chapter 15, 16 or 17 of Part 15 (deduction of tax at source: collection mechanisms),

• F3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• under paragraph 11(3) of Schedule 20 to FA 1994 (recovery of excess credit for overseas tax: changes for facilitating self-assessment),

• of the person who is (or persons who are) the responsible person in relation to an employer-financed retirement benefits scheme under section 394(2) of ITEPA 2003,

• under Chapter 5 of Part 4 of FA 2004 (registered pension schemes: tax charges), except any liability under a provision mentioned in section 30(1), F4 ...

• under section 682(4) of ITTOIA 2005 (assessments, adjustments and claims after the administration period), so far as the liability represents a tax reduction given effect at Step 6 of the calculation in section 23[F5 , and

• under section 24(4) of TIOPA 2010 (recovery of excess credit for overseas tax).]

Textual Amendments

F1 Words in s. 32 inserted (21.7.2008 with effect in accordance with Sch. 21 paras. 6, 7 of the amending Act) by Finance Act 2008 (c. 9), Sch. 21 para. 3

F2 Words in s. 32 substituted (retrospective to 6.4.2007) by Finance Act 2007 (c. 11), Sch. 4 paras. 5, 21

F3 Words in s. 32 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 77(2), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F4 Word in s. 32 repealed (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. 8 para. 77(3), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F5 Words in s. 32 inserted (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. 8 para. 77(4) (with Sch. 9 paras. 1-9, 22)