Finance Act 2011

Part 1 Income tax and corporation tax

Transitional relief for charities etc on abolition of payment of tax credits on distributions

1 (1) Section 35 of, and Schedule 5 to, F(No.2)A 1997 (transitional relief for charities etc and limitations on entitlement to the relief) are repealed.

(2) Accordingly—

(a) in section 231B of ICTA, in subsection (4)—

(i) after paragraph (b) insert “and”, and

(ii) omit paragraph (d) (and the “and” before it), and

(b) the following provisions are repealed—

(i) in ITA 2007, paragraph 379 of Schedule 1;

(ii) in FA 2010, paragraph 14 of Schedule 6.

Gifts of money for relief in poor countries (“Millennium Gift Aid”)

2 (1) Section 48 of FA 1998 (gifts of money for relief in poor countries etc) is repealed.

(2) Accordingly, the following provisions are repealed—

(a) in FA 1999, sections 56 and 57;

(b) in FA 2000, section 42;

(c) in ITA 2007, paragraph 98 of Schedule 2.

Supplement payable in connection with payroll deduction scheme

3 (1) Section 38 of FA 2000 (supplement payable in connection with payroll deduction scheme) is repealed.

(2) Accordingly, the following provisions are repealed—

(a) in ITEPA 2003, paragraph 243 of Schedule 6;

(b) in FA 2003, section 146;

(c) in ITA 2007, paragraph 390 of Schedule 1.

National Savings Bank ordinary account interest

4 Section 691 of ITTOIA 2005 (National Savings Bank ordinary account interest) is repealed.