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Finance Act 1968

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  1. Introductory Text

  2. Part I

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

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

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

    4. 4.(1) . . . . . . . . ....

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

    6. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    7. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

    9. 10.(1) . . . . . . . . ....

  3. Part II

    1. 11—22.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 23.(1) . . . . . . . . ....

    3. 24—30.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  4. Part III

    1. 31.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 32.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 33.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 34.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 35—37.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 38, 39.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    7. Betterment levy

      1. 40. Minerals: betterment levy, income tax and corporation tax.

  5. Part IV The Special Charge

    1. 41. The special charge.

    2. 42. Investment income.

    3. 43. Due date, interest and administration.

    4. 44. Husband and wife.

    5. 45. Close companies.

    6. 46. Relief where income attributable to period of years was received in 1967–68.

    7. 47. Relief where capital is subject to estate duty or capital gains tax.

    8. 48. Relief in respect of error or mistake,

    9. 49. Double taxation relief.

    10. 50. Transactions designed to avoid liability.

  6. Part V

    1. 51.(1) . . . . . . . . ....

    2. 52.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  7. Part VI Miscellaneous

    1. 53. Interest on overdue tax.

    2. 54. Premium savings bonds: increase of prize money.

    3. 55. Exchange control.

    4. 56.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 57.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 58.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    7. 59.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    8. 60. Provisional collection of taxes.

    9. 61. Citation, interpretation, construction, extent and repeals.

  8. Schedules

    1. Schedules 1—4.

      . . .

    2. Schedule 5.

      . . .

    3. Schedule 6.

      . . .

    4. Schedule 7.

      . . .

    5. Schedules 8—10.

      . . .

    6. Schedules 11, 12.

      . . .

    7. Schedule 13.

      . . .

    8. Schedule 14.

      . . .

    9. Schedule 15.

      Special Charge: Trusts

      1. Income out of capital, etc.

        1. 1.(1) The investment income of an individual arising under a...

      2. Recovery of charge from trustees

        1. 2.(1) If the person originally chargeable has not paid the...

        2. 3,.(1) If the person originally chargeable has paid the whole...

        3. 4.If at any time after the expiration of thirty days...

        4. 5.The amount with which a person answerable for a trust...

      3. Income derived from another trust

        1. 6.(1) This paragraph has effect where all or part of...

      4. Notice to persons answerable for a trust

        1. 7.(1) The person originally chargeable shall not be entitled to...

      5. Application of trust property in payment of charge

        1. 8.(1) The powers of a trustee or tenant for life...

      6. Foreign trusts

        1. 9.(1) If it is shown to the satisfaction of the...

      7. Limitation of liability of trustees

        1. 10.(1) Where on a claim against a trustee or tenant...

      8. Interpretation

        1. ll.(1) The following provisions have effect for the interpretation of...

        2. 12.(1) For the said purposes “the person answerable” for a...

        3. 13.(1) In this Schedule, unless the context otherwise requires— a...

    10. Schedule 16.

      Special Charge: Close Companies

      1. Special Apportionments

        1. 1.Subject to paragraph 2 below— (a) any apportionment under Part...

        2. 2.(1) In the case of any company—

        3. 3.(1) Notice of any apportionment (including any sub-apportionment) of the...

      2. Recovery of special charge from company

        1. 4.(1) This paragraph has effect where the special charge falls...

    11. Schedule 17.

      . . .

    12. SCHEDULE 18

      Premium Savings Bonds: New Terms

      1. 1.Premium Savings Bonds are a Government Security and are eligible...

      2. 2.Premium Saving Bonds, (Series B) (hereinafter called Bonds) will be...

      3. 3. Premium Savings Bonds: New Terms

      4. 4.Bonds are not transferable either during the lifetime or on...

      5. 5.There will be a monthly prize fund which will be...

      6. 6. Premium Savings Bonds: New Terms

      7. 7.A Bond will be eligible for inclusion in the first...

      8. 8.Each £1 unit Bond will have one chance in each...

      9. 9.Notwithstanding the provisions of paragraph 7 above any Bond purchased...

      10. 10. Premium Savings Bonds: New Terms

      11. 11.The serial numbers of Bonds which are allotted prizes will...

      12. 12.All matters relating to the method and conduct of the...

      13. 13.The purchase price of a Bond is repayable in full...

      14. 14. Premium Savings Bonds: New Terms

      15. 15.The Treasury reserve the right ...:— (a) to vary the...

      16. 16. Premium Savings Bonds: New Terms

    13. Schedule 19

      . . .

    14. schedule 20

      REPEALS

      1. PART I CUSTOMS AND EXCISE REPEALS

      2. PART II DOUBLE TAXATION RELIEF REPEALS

      3. PART III CAPITAL GAINS REPEALS

      4. PART IV ESTATE DUTY REPEALS

      5. PART V EXCHANGE CONTROL REPEALS

      6. PART VI MISCELLANEOUS REPEALS

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