Finance Act 1983

35 Phasing out of APRT. U.K.

(1) In section 139 of the M1 Finance Act 1982 (liability for APRT etc.) in subsection (1) (the periods for which the liability arises)—

(a) in paragraph (a) after the words “after 31st December 1982” there shall be inserted the words “ and before 1st January 1987 ”; and

(b) in paragraph (b) for the words “nine immediately succeeding chargeable periods” there shall be substituted the words “ immediately succeeding chargeable periods (if any) which ends before 1st January 1987 and ”.

(2) In subsection (2) of that section (the rate of APRT) for the words “at the rate of 20 per cent.” there shall be substituted the following paragraphs:—

“(a) for the chargeable period ending on 30th June 1983, at the rate of 20 per cent.;

(b) for subsequent chargeable periods ending on or before 31st December 1984, at the rate of 15 per cent.;

(c) for chargeable periods ending in 1985, at the rate of 10 per cent.; and

(d) for chargeable periods ending in 1986, at the rate of 5 per cent.”

(3) In consequence of subsections (1) and (2) above—

(a) in each of subsections (3)(a) and (4)(a) of section 139 of the Finance Act 1982, for the words “the APRT which is paid” there shall be substituted the words “ any APRT which is payable and paid ”;

(b) in subsection (4) of that section for the words “the APRT paid”, in each place where they occur, there shall be substituted the words “ any APRT paid ”; and

(c) Schedule 19 to that Act shall have effect subject to the modifications set out in Schedule 7 to this Act.

Modifications etc. (not altering text)

C1 Part of the text of s. 35(2) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991

Marginal Citations

M1 1982 c. 39.