S. 52 repealed by Car Tax Act 1983 (c. 53), Sch 3
Ss. 53, 54 repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1) Sch. 1 Pt. III
S. 56 repealed by Finance Act 1973 (c. 51), s. 59(7), Sch. 22 Pt. I
S. 57 repealed by Finance (No. 2) Act 1975 (c. 45), s. 75(5), Sch. 14 Pt. I and the Alchoholic Liquor Duties Act 1979 (c. 4), s. 92(2), Sch. 4 Pt. I
S. 58 repealed with savings by Betting and Gaming Duties Act 1981 (c. 63) s. 34(1)(2), Sch. 6 para. 3 Sch. 7
S. 59 repealed by Finance (No. 2) Act 1975 (c. 45), s. 75(5), Sch. 14 Pt. II
Ss. 60, 61 repealed by Finance Act 1973 (c. 51), s. 59(7), Sch. 22 Pt. I
S. 78 repealed by Finance Act 1974 (c. 30), s. 20(1), 57(6), Sch. 14 Part. II except where the right referrd to was exercised before 27 March 1974
S. 96 repealed by Finance Act 1984 ss. 20(3), 128(6), Sch. 23 Part V for the financial year 1985 et seq.
See Finance Act 1984 s. 20(4) for apportionment where s. 96 applies to part of an accounting period of a body but not to the other part by virtue of Finance Act 1984 s. 20(3)
Words inserted by Finance Act 1973 (c. 51), s. 34, Sch. 14 paras. 1, 3
See Finance Act 1973 s. 34, Sch. 14 paras. 1, 4— inspector's powers under Finance Act 1972 Sch. 16 para. 19 may be exercised for purposes of ss. 95, 96
Words added by Finance Act 1974 (c. 30), s. 44, Sch. 7 para. 3(2). Repealed by Finance Act 1985 s. 98(6), Sch. 27 Part X in respect of disposals taking place on or after 19 March 1985.
S. 111(2) repealed by Income and Corporation Taxes Act 1988 (c. 1) s. 844, Sch. 31.
S. 120 repealed (with savings) by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Pt I
S. 121 repealed (with savings) by Finance Act 1975 (c. 7), ss. 49(1), 50, 52(2)(3), 59, Sch. 11 Pt. I para. 2(1), Sch. 13 Pt. I
S. 122 repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1), Sch. 1 Pt. III
S. 123 repealed by Finance Act 1974 ss. 28(2), 57(6), Sch. 14 Part VI
S. 124 repealed by Income and Corporation Taxes Act 1988 (c. 1) s. 844, Sch. 31. See 1987 edition for these provisions
S. 125 repealed by Finance Act 1980 (c. 48, SIF 63:1), s. 122(4), Sch. 20 Pt. XII
The text of s. 131 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
S. 131(3A) inserted by Finance Act 1976 (c. 40), s. 59
S. 132 repealed by Finance Act 1984 (c. 43, SIF 99:3), s. 128(6), Sch. 23 Pt. XIV
S. 133 repealed by Trustee Savings Banks Act 1981 (c. 65, SIF 110), s. 55(3), Sch. 8
“1988” substituted by Income and Corporation Taxes Act 1988 (c. 1) Sch. 29 para. 32
S. 134(a) repealed by Customs and Excise Management Act 1979 (c. 2), s. 177(3), Sch. 6 Pt. I
S. 134(3)(c) repealed by Capital Gains Tax Act 1979 (c. 14, SIF 63:2) s. 158, Sch. 8 for 1979–80 et seq.
S. 134(d) repealed by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), Sch. 13 Pt. I
S. 134(5) repealed (1.1.1992) by Finance Act 1991 (c. 31, SIF 12:2), s. 123, Sch. 19, Pt.VIII
The text of ss. 55(1)(5)(6)(7), 128(2)(3) 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.
S. 55(2)(3) repealed by Customs and Excise Duties (General Reliefs) Act 1979 (c. 3), s. 19(2), Sch. 3 Pt. I
S. 55(4) repealed by Customs and Excise Management Act 1979 (c. 2), s. 177(3), Sch. 6 Pt. I
S. 128(1) repealed by Finance Act 1978 (c. 42), s. 80(5), Sch. 13 Pt. I
The text of ss. 55(1)(5)(6)(7), 128(2)(3) 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.
The text of of s. 129(1) is , in the form in which it was originally enacted: it was not reproduced in full in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
In section 14(2) of the
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In section 9 of the
In section 6 of the
A mechanically propelled vehicle shall not be chargeable with any duty under this Act if it has been supplied to the person keeping it by a taxable person within the meaning of section 4 of the Finance Act 1972 and the supply has been zero-rated in pursuance of subsection (7) of section 12 of that Act; but if, at any time, the value added tax that would have been chargeable on the supply but for the zero-rating becomes payable under subsection (8) of that section, or would have become so payable but for any authorisation or waiver under that subsection, then the provisions of subsection (3) below shall apply in relation to that vehicle.
This section shall come into force on 1st April 1973.
Where in any accounting period of a body to which this section applies the rate of corporation tax exceeds such special rate as Parliament may fix for the purposes of this section,
The bodies to which this section applies are—
any registered industrial and provident society as defined in section 340 of the Taxes Act and any such co-operative association as is mentioned in subsection (8) of that section;
any housing association for the time being approved for the purposes of section 341 of that Act;
any building society as defined in section 343 of that Act and any company to which that section applies by virtue of subsection (9) of that section.
not being a society, association or company under the control (within the meaning of section 302 of that Act) of one or more companies which are not themselves bodies to which this section applies.
For the purposes of this section the income of a company for an accounting period is its income charged to corporation tax for that period as defined in section 85(6) above
The enactments specified in Schedule 24 to this Act shall have effect with the amendments there specified, being amendments adapting and supplementing those enactments in consequence of the provisions of this Part of this Act.
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This section has effect from 6th April 1973 and does not affect the operation of any enactment in relation to any previous time ; and no amendment in the said Schedule 24 adapting an enactment so as to make it apply or refer to a provision of this Act instead of a provision repealed thereby shall be construed as affecting the operation of that enactment in relation to the repealed provision so far as concerns matters occurring before the repeal or otherwise unaffected by it.
The following are hereby abolished—
the stamp duty chargeable by virtue of the heading “BANK NOTE” in Schedule 1 to the
the licences required to be taken out under section 24 of the
This section takes effect on 25th June 1972; and if on or after that date and before the passing of this Act a person pays any duty in respect of a licence of the kind mentioned in subsection (1)(b) above which would not have been payable if this Act had then been in force the Commissioners of Inland Revenue shall, on application made to them within two years after the date of payment, repay the duty.
No obligation as to secrecy or other restriction upon the disclosure of information imposed by statute or otherwise shall prevent either—
the Commissioners of Inland Revenue or an authorised officer of those Commissioners; or
the Commissioners of Customs and Excise or an authorised officer of those Commissioners;
from disclosing information to the other Commissioners or an authorised officer of the other Commissioners for the purpose of assisting them in the performance of their duties.
Information obtained in pursuance of this section shall not be disclosed except—
to the Commissioners or a authorised officer of the Commissioners on whose behalf it was obtained; or
for the purpose of any proceedings connected with a matter in relation to which those Commissioners perform duties.
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In section 7 of the
In section 4(1)(g) of the Vehicles (Excise) Act 1971 (vehicles not exceeding eight hundredweight for invalids) for the word “eight” there shall be substituted the word “ten”.
In section 53(1) of the Taxes Management Act 1970 (summary award of penalties) there shall be substituted, for the words from “section 98(3)” to “awarded” the words “section 98 of this Act shall have effect, in relation to a penalty so awarded, as if subsection (3) were omitted and the reference in subsection (1)(ii) to the Commissioners before whom proceedings for the penalty have been commenced were a reference to the Commissioners by whom the penalty has been awarded”.
This section does not apply in relation to a penalty awarded before the commencement of this Act.
The Commissioners of Inland Revenue may, with the concurrence of the Minister for the Civil Service, by regulations provide for the payment out of money provided by Parliament of compensation to or in respect of any clerk to the General Commissioners for any division who suffers or has suffered loss of office or loss or diminution of emoluments which is attributable to any order affecting that division made (whether before or after the passing of this Act) under section 2(6) of the Taxes Management Act 1970 (alteration and abolition of divisions).
Regulations under this section may—
include provision as to the manner in which and the person to whom any claim for compensation under the regulations is to be made, and for the determination of all questions arising under the regulations;
make different provision for different classes of persons and for different circumstances, and make, or authorise the Commissioners of Inland Revenue to make, exceptions and conditions;
be framed so as to have effect from a date earlier than the making of the regulations,
but so that regulations having effect from a date earlier than their making shall not place any individual in a worse position than he would have been in if the regulations had been so framed as to have effect only from the date of their making.
Regulations under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
On the repayment of any post-war credit, or payment to a building society of any amount outstanding under section 3 of the
An application for such repayment made before the applicant is qualified may, if he later becomes qualified, be treated as made on the date when he does so.
No such repayment shall be made unless application therefor is made before such time (not earlier than the beginning of the year 1974) as the Treasury may by order direct.
Any order under this subsection shall be made by statutory instrument, which shall be laid before Parliament after being made, and may be varied by a subsequent order so as to extend the time for applications for repayment.
An order under subsection (3) above may make different provision for different cases or classes of case and may provide that no amount shall be ascertained, recorded or notified under section 7 of the
In this section “
This section shall be deemed to have had effect from the beginning of April 1972.
This Act may be cited as the Finance Act 1972.
In this Act “
In this Act—
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Parts IV and V, so far as they relate to income tax, shall be construed as one with the Income Tax Acts and, so far as they relate to corporation tax, shall be construed as one with the Corporation Tax Acts;
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Except so far as the context otherwise requires, any reference in this Act to any enactment shall be construed as a reference to that enactment as amended, and as including a reference to that enactment as applied, by or under any other enactment, including this Act.
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If the Parliament of Northern Ireland passes provisions amending or replacing any enactment of that Parliament referred to in this Act the reference shall be construed as a reference to the enactment as so amended or, as the case may be, as a reference to those provisions.
The enactments mentioned in Schedule 28 to this Act are hereby repealed to the extent mentioned in the third column of that Schedule, but subject to any provision at the end of any Part of that Schedule.