Income and Corporation Taxes Act 1988

PART IIIU.K.[F1GOVERNMENT SECURITIES]

Textual Amendments

F1Pt. 3 heading substituted (with effect in accordance with Sch. 7 para. 32 of the amending Act) by Finance Act 1996, s. 79, Sch. 7 para. 6 (with Sch. 7 paras. 33-35)

GeneralU.K.

44 Income tax: mode of charge.U.K.

F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2S. 44 repealed (with effect in accordance with Sch. 7 para. 32 and Sch. 41 Pt. 5(2) Note of the repealing Act) by Finance Act 1996 (c. 8), ss. 79, 205, Sch. 7 para. 7, Sch. 41 Pt. 5(2) (with Sch. 7 paras. 33-35)

45 Interpretation of Part III.U.K.

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Textual Amendments

F3S. 45 repealed (with effect in accordance with Sch. 7 para. 32 and Sch. 41 Pt. 5(2) Note of the repealing Act) by Finance Act 1996 (c. 8), ss. 79, 205, Sch. 7 para. 8, Sch. 41 Pt. 5(2) (with Sch. 7 paras. 33-35)

Government securities: exemptions from taxU.K.

46 Savings certificates and tax reserve certificates.U.K.

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Textual Amendments

F4S. 46 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 19, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

47 United Kingdom government securities held by non-residents.U.K.

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Textual Amendments

F5S. 47 repealed (with effect in accordance with s. 154(9) of the repealing Act) by Finance Act 1996 (c. 8), ss. 154(7), 205, Sch. 28 para. 1, Sch. 41 Pt. 5(18), Note (with s. 154(2)-(6))

48 Securities of foreign states.U.K.

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Textual Amendments

F6S. 48 repealed (with effect in accordance with Sch. 7 para. 32 and Sch. 41 Pt. 5(2) Note of the repealing Act) by Finance Act 1996 (c. 8), ss. 79, 205, Sch. 7 para. 9, Sch. 41 Pt. 5(2) (with Sch. 7 paras. 33-35)

49 Stock and dividends in name of Treasury etc.U.K.

[F7(1)No tax shall be chargeable in respect of the stock or dividends—

(a)transferred, in pursuance of any Act of Parliament, to accounts in the books of the Bank of England in the name of the Treasury or the National Debt Commissioners, or

(b)transferred, in pursuance of any Act of Parliament, to the Treasury or the National Debt Commissioners and in respect of which the Treasury or those Commissioners are entered as holder in the registers kept by the Registrar of Government Stock,

but the Bank of England and the Registrar of Government Stock shall each transmit to the Board an account of the total amount thereof in those books or registers as the case may be.]

(2)No tax shall be chargeable in respect of the stock or dividends belonging to the Crown, in whatever name they may stand in the books of the Bank of England [F8or in the registers kept by the Registrar of Government Stock].

[F9(3)In this section “dividends” means any interest, public annuities, dividends or shares of annuities.]

[F10(4)In this section “Registrar of Government Stock” means the person or persons appointed in accordance with regulations under section 47(1)(b) of the Finance Act 1942 (see regulation 3 of the Government Stock Regulations 2004).]

Government securities: interest payable without deduction of taxU.K.

50United Kingdom securities: Treasury directions for payment without deduction of tax.U.K.

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Textual Amendments

F11S. 50 repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 8, Sch. 3 Pt. 1 (with Sch. 2)

51 Treasury directions as respects Northern Ireland securities.U.K.

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Textual Amendments

F12S. 51 repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 8, Sch. 3 Pt. 1 (with Sch. 2)

[F1351AA Commencement of direction under section 50 or 51.U.K.

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Textual Amendments

F13S. 51AA inserted (29.4.1996) by Finance Act 1996 (c. 8), s. 155

F14S. 51AA repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 8, Sch. 3 Pt. 1 (with Sch. 2)

[F1551A Gilt-edged securities held under authorised arrangements.U.K.

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Textual Amendments

F15S. 51A inserted (1.5.1995) by Finance Act 1995 (c. 4), s. 77

F16S. 51A repealed (with effect in accordance with s. 37(8) and Sch. 8 Pt. 2(13) Note of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), ss. 37(5), 52, Sch. 8 Pt. 2(13)

[F1751B Periodic accounting for tax on interest on gilt-edged securities.U.K.

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Textual Amendments

F18S. 51B repealed (with effect in accordance with s. 37(3) of the repealing Act and S.I. 1999/619) by Finance Act 1998 (c. 36), ss. 37(1), 165, Sch. 27 Pt. 3(3), Note

52 Taxation of interest on converted government securities and interest which becomes subject to deduction.U.K.

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Textual Amendments

F19S. 52 repealed (with effect in accordance with Sch. 7 para. 32 of the repealing Act) by Finance Act 1996 (c. 8), ss. 79, 205, Sch. 7 para. 12, Sch. 41 Pt. 5(2), Note (with Sch. 7 paras. 33-35)