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Finance Act 1984

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  1. Introductory Text

  2. Part I Customs and Excise, Value Added Tax and Car Tax

  3. Chapter I Customs and Excise

    1. 1. Duties on spirits, beer, wine, made-wine and cider.

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

    3. 3. Hydrocarbon oil.

    4. 4. Vehicles excise duty.

    5. 5. Vehicles excise duty: recipients of mobility supplement.

    6. 6. Gaming licence duty.

    7. 7. Gaming machine licence duty.

    8. 8. Free zones.

    9. 9. Entry of goods on importation.

  4. Chapter II Value Added Tax

    1. 10. Zero-rating.

    2. 11. Refund of tax to Government departments etc. in certain cases.

    3. 12.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 13. Certain zero-rated supplies and transactions.

  5. Chapter III Miscellaneous

    1. 14. Reliefs from duty and value added tax in respect of imported legacies.

    2. 15. Extension to certain Community reliefs of power to make supplementary provision.

    3. 16. Unpaid car tax and value added tax: distress and poinding.

  6. PART II INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX ETC.

  7. CHAPTER I GENERAL

    1. 17—25.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 26.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 27—43.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 44. Trustee savings banks.

    5. 45—49.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 50. Furnished holiday lettings.

    7. 51—55.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    8. 56. Certain reliefs extended to Northern Ireland housing associations and societies.

    9. 57. Proceedings in magistrates’ courts and county courts.

  8. CHAPTER II CAPITAL ALLOWANCES

    1. 58—62.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  9. CHAPTER III CAPITAL GAINS

    1. 63. Capital gains tax: small gifts, instalments and monetary limits for reliefs etc.

    2. 64. Exemption for qualifying corporate bonds.

    3. 65.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 66. Disposals and acquisitions treated as made at market value: removal of certain exceptions.

    5. 67. Parallel pooling.

    6. 68. Maintenance funds for historic buildings.

    7. 69. Foreign currency accounts.

    8. 70. Postponement of tax due from beneficiaries on gains of non-resident trustees.

    9. 71. Non-resident settlements: definition of “settlement" and “settlor".

  10. CHAPTER IV INSURANCE

    1. 72.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 73. Insurance business of registered friendly societies.

    3. 74—76.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  11. CHAPTER V OIL AND GAS INDUSTRY

    1. 77.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 78.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 79.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 80. Replacement of business assets used in connection with oil fields.

    5. 81. Disposals by non-residents etc. of assets used in connection with exploration and exploitation activities.

  12. CHAPTER VI CONTROLLED FOREIGN COMPANIES

    1. 82—91.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 92—100.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 101—107.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 108. Pre-consolidation amendments.

  13. PART IV STAMP DUTY

    1. 109. Reduction of stamp duty on conveyances and transfers.

    2. 110. Extension of stamp duty relief on sales at discount.

    3. 111. Agreements for leases.

    4. 112. Sub-sales.

  14. PART V OIL TAXATION

    1. 113. Restriction on PRT reliefs.

    2. 114. Sales of gas: treatment of certain payments.

    3. 115. Information relating to sales at arm’s length and market value of oil.

    4. 116. Offences relating to section 115.

  15. PART VI MISCELLANEOUS AND SUPPLEMENTARY

    1. National insurance surcharge

      1. 117. Abolition of national insurance surcharge.

      2. 118—123.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. Miscellaneous

      1. 124. Recovery of certain tax assessed on non-residents.

      2. 125. Local loans.

      3. 126.Tax exemptions in relation to designated international organisations.

      4. 127. Special and General Commissioners.

      5. 128. Short title, interpretation, construction and repeals.

  16. SCHEDULES

    1. SCHEDULE 1

      Wine and Made-Wine

      1. Interpretation

        1. 1.(1) Subject to sub-paragraph (3) below, for the purposes of...

        2. 2.For the purposes of this Act, wine or made-wine shall...

    2. SCHEDULE 2

      VEHICLES EXCISE DUTY

      1. Part I

        1. 1—5.. . . . . . . . . ....

      2. Part II Amendment of Part I of Schedule 4 to the Vehicles (Excise) Act 1971 and the Vehicles (Excise) Act (Northern Ireland) 1972

        1. Amendments made in both Acts

          1. 6.(1) Part I of Schedule 4 to the Act of...

    3. SCHEDULE 3

      GAMING MACHINE LICENCE DUTY

      1. Part I Special Licences and Staggered Starting Dates for Whole-Year Licences in Respect of Premises

        1. 1.The Betting and Gaming Duties Act 1981 shall be amended...

        2. 2.For section 21 there shall be substituted— Gaming machine licences....

        3. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        4. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        5. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        6. 6.In section 24— (a) subsection (1) shall cease to have...

        7. 7.(1) Part II of Schedule 4 shall be amended as...

      2. Part II Transitional Provisions

        1. Whole-year licences during transitional period

          1. 8.(1) A whole-year ordinary licence in respect of any premises...

    4. Schedule 4

      Free Zones

      1. Part I Provisions Inserted in Customs and Excise Management Act 1979 as Part VIIIA

        1. Part VIIIA Free Zones Designation of free zones. (1) The Treasury may by order designate any area in...

      2. Part II Further Amendments of 1979 Act

        1. 1.In section 1 (interpretation) the following definitions shall be inserted...

        2. 2.In section 31(1) (power to make regulations controlling the movement...

        3. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        4. 4.In section 119(1) (delivery of imported goods on giving of...

        5. 5.In section 159 (power to examine and take account goods),...

        6. 6.In section 164 (power to search persons) in subsection (4)...

    5. Schedule 5

      Entry on Importation:

      1. Amendment of Customs and Excise Management Act 1979

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

        2. 2.The following sections shall be inserted after section 37— Initial...

        3. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. Schedule 6

      1. Part I Food

        1. 1.In Group 1 (Food), in Note (3) (which provides that...

      2. Part II

        1. 2—7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. Part III Protected Buildings

        1. 8.After Group 8 there shall be inserted the following— Group...

    7. Schedules 7—9

    8. SCHEDULE 10

    9. SCHEDULE 11

      FURNISHED HOLIDAY LETTINGS

      1. Treatment of lettings as a trade for certain purposes

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

        2. 2, 3.. . . . . . . . . ....

      2. Capital gains tax

        1. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

      3. Power to make apportionments

        1. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      4. Adjustments of tax charged

        1. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    10. SCHEDULE 12

    11. SCHEDULE 13

      QUALIFYING CORPORATE BONDS

      1. PART I APPLICATION OF PROVISIONS RELATING TO GILT-EDGED SECURITIES

        1. Capital Gains Tax Act 1979

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

          2. 2, 3.. . . . . . . . . ....

        2. Other enactments

          1. 4.. . . . . . . . . ....

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

          3. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. PART II REORGANISATIONS, CONVERSIONS, RECONSTRUCTIONS ETC.

        1. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 8.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        3. 9.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        4. 10.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        5. 11.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        6. 12.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    12. SCHEDULE 14

      BENEFICIARY’S LIABILITY FOR TAX ON GAINS OF NON-RESIDENT TRUSTEES

      1. Interpretation

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

      2. Claims for postponement of tax

        1. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. Tax referable to attributed gains

        1. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      4. Initial calculations relevant to tax which may be postponed

        1. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. Relevant benefits

        1. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      6. The basic rules as to postponement

        1. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      7. Effect of subsequent capital payments received by the beneficiary

        1. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 8.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      8. Effect of related benefits derived from payments received by close relatives of the beneficiary

        1. 9.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      9. Related benefits

        1. 10.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      10. Time when postponed tax becomes payable

        1. 11.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      11. Balance of capital payments

        1. 12.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

      12. Second and later claims

        1. 14.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      13. Information

        1. 15.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 16.. . . . . . . . . ....

    13. Schedules 15—20

    14. SCHEDULE 21

      1. 1—17.. . . . . . . . . ....

      2. 18, 19.. . . . . . . . . ....

      3. 20—26.. . . . . . . . . ....

    15. SCHEDULE 22

      SPECIAL AND GENERAL COMMISSIONERS

      1. Appointment of Special Commissioners

        1. 1.For section 4 of the Taxes Management Act 1970 (appointment...

      2. Special Commissioners: quorum

        1. 2.(1) Section 45 of the Act of 1970 (quorum of...

      3. Elections to bring appeals before Special Commissioners

        1. 3.(1) In section 31 of the Act of 1970 (appeals...

      4. Procedural rules

        1. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. Transfer of appeals from General to Special Commissioners

        1. 5.In section 44 of the Act of 1970 (jurisdiction of...

      6. Fee for statement of case

        1. 6.In section 56(3) of the Act of 1970 . ....

      7. Statement of case from Special Commissioners to Court of Appeal

        1. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      8. Saving

        1. 8.Nothing in this Schedule shall affect the appointment of any...

    16. SCHEDULE 23

      REPEALS

      1. Part I Made-Wine

      2. Part II Gaming Machine Licence Duty

      3. Part III Value Added Tax

      4. Part IV Customs and Excise: Miscellaneous

      5. PART V INCOME TAX AND CORPORATION TAX: GENERAL

        1. 1.The repeals in section 310 of the Income and Corporation...

        2. 2.The repeals in section 343 of the Income and Corporation...

        3. 3.The repeals in section 96 of the Finance Act 1972...

        4. 4.The repeals in Schedule 1 to the Finance Act 1974...

        5. 5.The repeal of section 17(3) of the Oil Taxation Act...

        6. 6.The repeal in paragraph 13 of Schedule 10 to the...

        7. 7.The repeal in section 40 of the Finance Act 1982...

        8. 8.The repeal in section 20(4) of the Finance Act 1983...

      6. PART VI INCOME TAX: THE ADDITIONAL RATE

      7. PART VII FOREIGN EARNINGS AND EMOLUMENTS

        1. 1.The repeals in subsection (2) of section 188 of, and...

        2. 2.The repeal of section 23(3) of the Finance Act 1974...

        3. 3.The repeal in Schedule 2 of the Finance Act 1974...

        4. 4.The repeals in the Acts of 1975, section 31(2) of,...

      8. PART VIII CAPITAL GAINS

        1. 1.The repeal of sections 6, 8, 9 and 148 of...

        2. 2.The repeals in section 29A of the Capital Gains Tax...

        3. 3.The repeals in section 32 of that Act have effect...

        4. 4.The repeals in sections 137(4)(aa) and 138(1)(aa) of that Act...

      9. Part IX Capital Transfer Tax

      10. Part X Stamp Duty

      11. Part XI National Insurance Surcharge

      12. Part XII Development Land Tax

      13. PART XIII SPECIAL AND GENERAL COMMISSIONERS

      14. Part XIV Miscellaneous

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