Income and Corporation Taxes Act 1970 (repealed 6.4.1992)

1. Introductory Text

2. Part I

   1. 1—51. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3. Part II Annual Payments and Interest

   1. 51A. General rule.

   2. 51B. Qualifying maintenance payments.

   3. 52—66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. Parts III—V

   1. 67—107. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5. Part VI Schedule D

   1. Chapter I The Charge

      1. 108—110. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. 111. Woodlands managed on a commercial basis.

      3. 112—167. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. Part VII Loss Relief

   1. Chapter I

      1. 168. Set-off against general income.

      2. 169. Extension of right of set-off to capital allowances.

      3. 170. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      4. 171. Carry-forward against subsequent profits.

      5. 172, 173. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      6. 174. Carry-back of terminal losses.

      7. 175—237. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Part XI Company Taxation

   1. Chapter I Main Provisions

      1. General system of taxation

         1. 238. Charge to corporation tax.

         2. 239—242. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. Corporation tax

         1. 243. General scheme of corporation tax.

         2. 244. Time for payment of corporation tax: companies trading before financial year 1965.

         3. 245—266. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

         4. 267. Company reconstruction or amalgamation: transfer of assets.

         5. 267A. Insurance companies: transfers of business.

         6. 268A. Postponement of charge on transfer of assets to non-resident company.

         7. 269. Interest charged to capital.

      3. Transfers concerning companies of different member States

         1. 269A. Transfer of a UK trade.

         2. 269B. Section 269A: anti-avoidance.

         3. 269C. Transfer of a non-UK trade.

         4. 269D. Section 269C: anti-avoidance.

      4. Gilt-edged securities: restrictions on exemptions

         1. 270. Charge to tax on certain disposals of United Kingdom securities.

         2. 271. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. Groups of companies

         1. 272. Groups of companies: definitions.

         2. 273. Transfers within a group.

         3. 273A. Transfer of United Kingdom branch or agency.

         4. 274. Transfers within a group: trading stock.

         5. 275. Disposal or acquisition outside a group.

         6. 276. Replacement of business assets by members of a group.

         7. 277. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

         8. 278. Company ceasing to be member of a group.

         9. 278A. Exemption from charge under s. 278 in the case of certain mergers.

         10. 279. Shares in subsidiary member of a group.

      6. Losses attributable to depreciatory transactions

         1. 280. Transactions in a group.

         2. 281. Dividend stripping.

   2. Chapter III Close Companies

      1. 282—303. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8. Part XII Special Classes of Companies and Businesses

   1. 304, 305. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

   2. 306. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

   3. 307—337. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

   4. Trade unions

      1. 338. Exemption for trade unions.

   5. Chapter IV Savings Banks, Industrial and Provident Societies, Building Societies and Mutual Business

      1. 339—341A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. 342. Disposals of land between the Housing Corporation . . . and housing associations.

      3. 342A. Disposals by Housing Corporation and and certain housing associations.

      4. 342B. Disposals by Northern Ireland housing associations.

      5. 343—496. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9. Part XVIII Double Taxation Relief

   1. Chapter I The Principal Reliefs

      1. 497. Relief by agreement with other countries.

      2. 498—514. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. 515. Postponement of capital allowances to secure double taxation relief.

      4. 516—535. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10. Part XX General

    1. 536. Commencement.

    2. 537. Savings, transitory provisions and consequential amendments.

    3. 538. Repeals.

    4. 539. Continuity and construction of references to old and new law.

    5. 540. Short title and construction.

11. 1. SCHEDULES 1-13

       . . .

    2. SCHEDULE 14

       SAVINGS AND TRANSITORY PROVISIONS

       1. 1-10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

       2. 11. The repeal by this Act of paragraph 7(2) of Schedule...

       3. 12—27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

       4. 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

       5. 29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. SCHEDULE 15

       Consequential Amendments

       1. . . . . . . . . . ....

          1. 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          2. 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          3. Friendly societies and trade unions

             1. 3. (1) In section 26(2) of the Finance Act 1956, for...

          4. Post-war credits

             1. 4. In the Income Tax (Repayment of Post-War Credits) Act 1959,...

             2. 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

             3. 6, 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

             4. 8, 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          5. General powers of amendment in Acts relating to overseas countries

             1. 10. Where under any Act passed before this Act and relating...

          6. Translation of references to enactments repealed and re-enacted

             1. 11. In the enactments specified in column 1 of the following...

       2. Table Part I

          1. The Finance Act 1966 (1966 c. 18)

          2. The Finance Act (1968 c. 44)

       3. Part II

          1. The Finance Act 1952 (1952 c. 33)

          2. The Finance Act 1965 (1965 c. 25)

          3. The Land Commission Act 1967 (1967 c. 1)

          4. The Provisional Collection of Taxes Act 1968 (1968 c. 2)

          5. The Trustee Savings Banks Act 1969 (1969 c. 50)

             1. 12. (1) . . . . . . . . ....

             2. 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. SCHEDULE 16

       . . .