Finance Act 2012

PART 3 Payments relating to reductions in pool betting duty

19 (1) Section 126 of FA 1990 (capital allowances and IHT: pools payments for football ground improvements) is repealed.

(2) Accordingly, the following are also repealed—

(a) paragraph 72 of Schedule 2 to CAA 2001;

(b) paragraph 416 of Schedule 1 to ITTOIA 2005.

(3) The repeals made by this paragraph—

(a) for corporation tax purposes, have effect in relation to payments made on or after 1 April 2013,

(b) for income tax purposes, have effect in relation to payments made on or after 6 April 2013, and

(c) for inheritance tax purposes, come into force on 6 April 2013 (and have effect in relation to payments whenever made).

20 (1) Section 121 of FA 1991 (inheritance tax: pools payments to support games etc) is repealed.

(2) The repeal made by this paragraph comes into force on 6 April 2013 (and has effect in relation to payments whenever made).

21 (1) In ITTOIA 2005, the following provisions are repealed—

(a) section 162 (deductions in respect of payments by persons liable to pool betting duty);

(b) section 748 (exemption for payments by persons liable to pool betting duty).

(2) Accordingly, section 683(4)(g) of that Act is also repealed.

(3) The repeals made by this paragraph have effect in relation to payments made on or after 6 April 2013.

22 (1) In CTA 2009, the following provisions are repealed—

(a) section 138 (deductions in respect of payments by companies liable to pool betting duty);

(b) section 978 (exemption for payments by persons liable to pool betting duty).

(2) Accordingly, section 976(1)(b) of that Act (and the “and” before it) are also repealed.

(3) The repeals made by this paragraph have effect in relation to payments made on or after 1 April 2013.