Finance Act 1989

Part III U.K. Miscellaneous and General

Inheritance tax U.K.

171 Gifts to housing associations. U.K.

(1) The following section shall be inserted in the M1 Inheritance Tax Act 1984 after section 24—

“24A Gifts to housing associations.

(1) A transfer of value is exempt to the extent that the value transferred byit is attributable to land in the United Kingdom given to a registered housingassociation.

(2) In subsection (1) above “registered housing association”means a registered housing association within the meaning of the Housing Associations Act 1985 or Part VII of the Housing (Northern Ireland) Order 1981.

(3) Subsections (2) to (5) of section 23 and subsection (4) of section 24above shall apply in relation to subsection (1) above as they apply inrelation to section 24(1).”

(2) In section 23(5) of the Inheritance Tax Act 1984 the words “or, where it is land, of a body mentioned in section 24Abelow” shall be added at the end.

(3) In section 29(5) of that Act—

(a) the words “or, where it is land, of a body mentioned in section24A” shall be inserted at the end of paragraph (b), and

(b) after “24(3) and (4),” there shall be inserted “24A(3),”.

(4) In section 161(2)(b)(ii) of that Act after “24,” there shall beinserted “24A,”.

(5) In section 102(5) of the M2 Finance Act 1986 afterparagraph (e) there shall be inserted—

“(ee) section 24A (gifts to housing associations);”.

(6) This section shall apply to transfers of value made on or after 14th March1989.

Marginal Citations

M1 1984 c.51.

M2 1986 c. 41.

172 Abatement of exemption where claim settled out of beneficiary’s ownresources. U.K.

(1) The following section shall be inserted after section 29 of the M3 Inheritance Tax Act 1984—

“29A Abatement of exemption where claim settled out of beneficiary’s ownresources.

(1) This section applies where—

(a) apart from this section the transfer of value made on the death of anyperson is an exempt transfer to the extent that the value transferred by itis attributable to an exempt gift, and

(b) the exempt beneficiary, in settlement of the whole or part of any claimagainst the deceased’s estate, effects a disposition of property not derivedfrom the transfer.

(2) The provisions of this Act shall have effect in relation to the transferas if—

(a) so much of the relevant value as is equal to the following amount, namelythe amount by which the value of the exempt beneficiary’s estate immediatelyafter the disposition is less than it would be but for the disposition, or

(b) where that amount exceeds the relevant value, the whole of the relevantvalue,

were attributable to such a gift to the exempt beneficiary as ismentioned in subsection (3) below (instead of being attributable to a giftwith respect to which the transfer is exempt).

(3) The gift referred to in subsection (2) above is a specific gift withrespect to which the transfer is chargeable, being a gift which satisfies theconditions set out in paragraphs (a) and (b) of section 38(1) below.

(4) In determining the value of the exempt beneficiary’s estate for thepurposes of subsection (2) above—

(a) no deduction shall be made in respect of the claim referred to insubsection (1)(b) above, and

(b) where the disposition referred to in that provision constitutes a transferof value—

(i) no account shall be taken of any liability of the beneficiary for any taxon the value transferred, and

(ii) sections 104 and 116 below shall be disregarded.

(5) Subsection (1)(b) above does not apply in relation to any claim againstthe deceased’s estate in respect of so much of any liability as is, inaccordance with this Act, to be taken into account in determining the valueof the estate.

(6) In this section—

• “exempt gift”, in relation to a transfer of value fallingwithin subsection (1)(a) above, means—

(a) a gift with respect to which the transfer is (apart from this section)exempt by virtue of the provisions of any of sections 18 and 23 to 28 above,or

(b) where (apart from this section) the transfer is so exempt with respect toa gift up to a limit, so much of the gift as is within that limit;

• “the exempt beneficiary”, in relation to an exempt gift,means any of the following, namely—

(a) where the gift is exempt by virtue of section 18 above, the deceased’sspouse,

(b) where the gift is exempt by virtue of section 23 above, any person orbody—

(i) whose property the property falling within subsection (1) of that sectionbecomes, or

(ii) by whom that property is held on trust for charitable purposes,

(c) where the gift is exempt by virtue of section 24, 25 or 26 above, any bodywhose property the property falling within subsection (1) of that sectionbecomes,

(d) where the gift is exempt by virtue of section 24A above, any body to whomthe land falling within subsection (1) of that section is given, and

(e) where the gift is exempt by virtue of section 27 or 28 above, the trusteesof any settlement in which the property falling within subsection (1) of thatsection becomes comprised;

• “gift” and “specific gift” have the samemeaning as in Chapter III of this Part; and

• “the relevant value”, in relation to a transfer of valuefalling within subsection (1)(a) above, means so much of the value transferredby the transfer as is attributable to the gift referred to in that provision.”

(2) This section shall have effect in relation to deaths occurring on or afterthe day on which this Act is passed.

Marginal Citations

M3 1984c. 51.

Stamp duty etc. U.K.

[F1 173 Insurance: abolition of certain duties. U.K.

(1) Stamp duty shall not be chargeable under—

(a) the heading “Policy of Life Insurance” in Schedule 1 tothe M4 Stamp Act 1891, or

(b) paragraph (3) of the heading “Bond, Covenant, or Instrument of any kindwhatsoever” in that Schedule (superannuation annuities).

(2) Subject to section 4 of the Stamp Act 1891 (separate charges oninstruments containing or relating to several distinct matters) an instrumentwhich, but for subsection (1) above, would be chargeable with stamp duty underparagraph (3) of the heading mentioned in paragraph (b) of that subsectionshall not be chargeable with stamp duty under any other provision of the StampAct 1891.

(3) Section 100 of the Stamp Act 1891 (penalty for not making out policy ormaking policy not duly stamped) shall cease to have effect.

(4) Section 118 of the Stamp Act 1891 (assignment of life insurance policy tobe stamped before payment of money assured) shall cease to have effect.

(5) Section 47(3) of the M5 Finance Act 1966 (enhanced dutywhere policy not exceeding 2 years is varied so as to exceed 2 years) andsection 5(3) of the M6 Finance Act (Northern Ireland)1966 (equivalent provision for Northern Ireland) shall cease to have effect.

(6) Subsections (1) and (2) above apply to instruments made after 31stDecember 1989.

(7) So far as it relates to section 100(1) of the 1891 Act, subsection (3)above applies where a person receives, or takes credit for, a premium orconsideration for insurance after 30th November 1989.

(8) So far as it relates to section 100(2) of the 1891 Act, subsection (3)above applies where the policy is made after 31st December 1989.

(9) Subsection (4) above applies to instruments of assignment made after 31stDecember 1989.

(10) Subsection (5) above applies where the policy is varied after 31stDecember 1989 (whenever it was made).]

Textual Amendments

F1 S. 173 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. V(2) of the amending Act) by 1999 c. 16, s. 138, Sch. 20 Pt. V(2), notes 1, 2

Marginal Citations

M4 1891 c. 39.

M5 1966 c. 18.

M6 1966 c. 21 (N.I.).

174 Unit trusts. U.K.

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

Textual Amendments

F2 S. 174 repealed (with effect as mentioned in Sch. 20 Pt. V(5) notes 1, 2 of the amending Act) by Finance Act 1999 (c. 16) s. 139, {Sch. 20 Pt. V(5)}

175 Stamp duty: stock exchange nominees U.K.

(1) The Treasury may by regulations provide that where —

(a) circumstances would (apart from the regulations) give rise to a charge to stamp duty under [F3 Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale)] and to a charge to stamp duty reserve tax,

(b) the circumstances involve a stock exchange nominee, and

(c) the circumstances are such as are prescribed,

the charge to stamp duty shall be treated as not arising.

(2) The power to make regulations under this section shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of the House of Commons.

(3) In this section —

(a) “prescribed” means prescribed by the regulations, and

(b) “stock exchange nominee” means a person designated for the purposes of section 127 of the Finance Act 1976[1976 c. 40.] as a nominee of The Stock Exchange by an order made by the Secretary of State under subsection (5) of that section.

Textual Amendments

F3 Words in s. 175(1)(a) substituted (with effect in accordance with s. 112(6) of the amending Act) by Finance Act 1999 (c. 16) ss. 112(4), 122, {Sch. 14 para. 23}

176 Stamp duty reserve tax: stock exchange nominees U.K.

(1) The Treasury may by regulations provide that where —

(a) circumstances would (apart from the regulations) give rise to two charges to stamp duty reserve tax,

(b) the circumstances involve a stock exchange nominee, and

(c) the circumstances are such as are prescribed,

such one of the charges as may be prescribed shall be treated as not arising.

(2) The Treasury may by regulations provide that where —

(a) circumstances would (apart from the regulations) give rise to a charge to stamp duty reserve tax and a charge to stamp duty,

(b) the circumstances involve a stock exchange nominee, and

(c) the circumstances are such as are prescribed,

the charge to stamp duty reserve tax shall be treated as not arising.

(3) The Treasury may by regulations provide that a provision of an Act by virtue of which there is no charge to stamp duty reserve tax shall also apply in circumstances which involve a stock exchange nominee and are such as are prescribed.

(4) The Treasury may by regulations provide that a provision of an Act by virtue of which the rate at which stamp duty reserve tax is charged is less than it would be apart from the provision shall also apply in circumstances which involve a stock exchange nominee and are such as are prescribed.

(5) The power to make regulations under this section shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of the House of Commons.

(6) In this section —

(a) “prescribed” means prescribed by the regulations, and

(b) “stock exchange nominee” means a person designated for the purposes of section 127 of the Finance Act 1976[1976 c. 40.] as a nominee of The Stock Exchange by an order made by the Secretary of State under subsection (5) of that section.

177 Stamp duty reserve tax: information. U.K.

— Regulations under section 98(1) of the Finance Act 1986[1986 c. 41.] (administration etc. of stamp duty reserve tax) may include —

(a) provision that notice which the regulations require to be given to the Commissioners of Inland Revenue shall be given in a manner or form specified by the Commissioners;

(b) provision that information which the regulations require to be supplied to the Commissioners shall be supplied in a manner or form specified by the Commissioners.

Interest etc. U.K.

178 Setting of rates of interest. U.K.

(1) The rate of interest applicable for the purposes of an enactment to which this section applies shall be the rate which for the purposes of that enactment is provided for by regulations made by the Treasury under this section.

(2) This section applies to—

[F4 (aa) section 15A of the Stamp Act 1891;]

(a) section 8(9) of the M7 Finance Act 1894,

(b) section 18 of the M8 Finance Act 1896,

(c) section 61(5) of the M9 Finance (1909-10) Act 1910,

(d) section 17(3) of the M10 Law of Property Act 1925,

F5 (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(f) [F6 sections F7 ... 86, 86A, 87, 87A, [F8 88], 103A] of the M11 Taxes Management Act 1970,

(g) paragraph 3 of Schedule 16A to the M12 Finance Act 1973,

[F9 (ga) section 48(1) of the Finance Act 1975,]

[F10 (gg) [F11 paragraph 6 of Schedule 1 to the Social Security Contributions and Benefits Act 1992],]

[F12 (gh) section 71(8A) of the M13 Social Security Administration Act 1992, and section 69(8A) of the M14 Social Security Administration (Northern Ireland) Act 1992, as they have effect in any case where the overpayment was made in respect of working families’ tax credit or disabled person’s tax credit; ]

(h) paragraphs 15 and 16 of Schedule 2, and paragraph 8 of Schedule 5, to the M15 Oil Taxation Act 1975,

[F13 (i) section 283 of the M16 Taxation of Chargeable Gains Act 1992;]

(j) paragraph 59 of Schedule 8 to the M17 Development Land Tax Act 1976,

(k) sections 233[F14 , 235(1)] and 236(3) and (4) of the M18 Inheritance Tax Act 1984,

(l) section 92 of the Finance Act 1986, and

(m) sections F15 . . . F16 ... 824, 825 and 826 of, [F17 and paragraph 6B of Schedule 3 to] and paragraph 3 of Schedule 19A to, the M19 Taxes Act 1988. [F18 and]

F19 (n) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F20 and

[(o) section 14(4) of the Ports Act 1991.]

[F21 (p) paragraph 8 of Schedule 4 to the Tax Credits Act 1999., F22 ...]

[F23 [F24 (q)] section 110 of the Finance Act 1999.]

[F25 (q) paragraph 8 of Schedule 1 to the Employment Act 2002.]

[F26 (r) paragraph 8 of Schedule I to the Employment (Northern Ireland) Order 2002.][F27 , and

(s) Chapter 7 of Part 3 of the Income Tax (Earnings and Pensions) Act 2003.]

[F28 (t) sections 87, 88 and 89 of the Finance Act 2003][F29 , F30 ...

(u) paragraph 11 of Schedule 35 to the Finance Act 2014] [F31 , and

(v) section 79 of FA 2015.]

(3) Regulations under this section may—

(a) make different provision for different enactments or for different purposes of the same enactment,

(b) either themselves specify a rate of interest for the purposes of an enactment or make provision for any such rate to be determined by reference to such rate or the average of such rates as may be referred to in the regulations,

(c) provide for rates to be reduced below, or increased above, what they otherwise would be by specified amounts or by reference to specified formulae,

(d) provide for rates arrived at by reference to averages to be rounded up or down,

(e) provide for circumstances in which alteration of a rate of interest is or is not to take place, and

(f) provide that alterations of rates are to have effect for periods beginning on or after a day determined in accordance with the regulations in relation to interest running from before that day as well as from or from after that day.

(4) The power to make regulations under this section shall be exercisable by statutory instrument which shall be subject to annulment in pursuance of a resolution of the House of Commons.

F32 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F33 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7) Subsection (1) shall have effect for periods beginning on or after such day as the Treasury may by order made by statutory instrument appoint and shall have effect in relation to interest running from before that day as well as from or from after that day; and different days may be appointed for different enactments.

Textual Amendments

F4 S. 178(2)(aa) inserted (27.7.1999 with application to instruments executed on or after 1.10.1999) by 1999 c. 16, ss. 109(2)(4), 123(4)

F5 S. 178(2)(e) repealed (13.10.2003) by Land Registration Act 2002 (c. 9), s. 136(2), Sch. 13 (with s. 129, Sch. 12 para. 1); S.I. 2003/1725, art. 2(1)

F6 Words in s. 178(2)(f) substituted (1.9.1994 with effect as mentioned in s. 199 of the amending Act) by 1994 c. 9, s. 196, Sch. 19 Pt. III para. 44; S.I. 1998/3173, art. 2

F7 Word in s. 178(2)(f) omitted (1.4.2011) by virtue of The Finance Act 2009, Schedules 55 and 56 (Income Tax Self Assessment and Pension Schemes) (Appointed Days and Consequential and Savings Provisions) Order 2011 (S.I. 2011/702), arts. 1(1), 12 (with arts. 20, 22)

F8 Words in s. 178(2)(f) repealed (29.4.1996 with effect as specified in Sch. 18 para. 17 of the amending Act) by 1996 c. 8, ss. 132, 205, Sch. 18 para. 13, Sch. 41 Pt. V(8), note

F9 S. 178(2)(ga) inserted (21.7.2009) by Finance Act 2009 (c. 10), s. 105(5)(a)

F10 S. 178(2)(gg) inserted (6.4.1992) (E.W.S.) by Social Security Act 1990 (c. 27, SIF 113:1) s. 17(10); S.I. 1992/632, art. 2

F11 Words in s. 178(2)(gg) substituted (1.7.1992) by Social Security (Consequential Provisions) Act 1992 (c. 6), ss. 4, 7(2), Sch. 2 para. 107

F12 S. 178(2)(gh) inserted (5.10.1999) by 1999 c. 10, ss. 2, 20(2), Sch. 2 Pt. IV para. 10(2)

F13 s. 178(2)(i) substituted (in relation to tax for the year 1992-1993 and subsequent years subject as mentioned in s. 289 of the substituting Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch. 10 para. 19(4) (with ss. 60, 101(1), 171, 201(3))

F14 Word in s. 178(2)(k) inserted (21.7.2009) by Finance Act 2009 (c. 10), s. 105(5)(b)

F15 Words in s. 178(2)(m) repealed (28.7.2000 with effect as mentioned in s. 11(6) of the amending Act) by 2000 c. 17, s. 156, Sch. 40 Pt. II(17), Note 1

F16 Words in s. 178(2)(m) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 162(a), Sch. 8 Pt. 1 (with Sch. 7)

F17 Words in s. 178(2)(m) repealed (29.4.1996 with effect as mentioned in Sch. 7 paras. 32-35 of the amending Act) by 1996 c. 8, ss. 79(2), 205, Sch. 7 para. 30, Sch. 41 Pt. V(2), note

F18 “and” inserted by Finance Act 1990 (c. 29, SIF 58), s.118(8)

F19 S. 178(2)(n) repealed (1.5.1995) by 1995 c. 4, s. 162, Sch. 29 Pt. XII

F20 S. 178(2)(o) and word immediately proceeding it inserted (G.B.) by Ports Act 1991 (c. 52, SIF 58), s. 14(5).

F21 It is provided that s. 178(2)(p) shall be inserted (5.10.1999) by 1999 c. 10, ss. 10(4), 20(2), Sch. 4 para. 8(1)

F22 Word in s. 178(2)(p) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 162(b), Sch. 8 Pt. 1 (with Sch. 7)

F23 S. 178(2)(p) and word “and” preceding inserted (27.7.1999 with application in relation to instruments executed on or after 1.10.1999) by 1999 c. 16, ss. 110(9)(10), 123(4)

F24 S. 178(2)(q) renumbered (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 162(c) (with Sch. 7)

F25 S. 178(2)(q) inserted (E.W.S.) (8.12.2002) by 2002 c. 22, ss. 11, 12, Sch. 1 para. 8(1)(2); S.I. 2002/2866, art. 2(2), Sch. 1 Pt. 2

F26 S. 178(2)(r) inserted (8.12.2002) by S.I. 2002/2836 (N.I. 2), art. 13(6), Sch. 1 para. 8(1) (with art. 16); S.R. 2002/356, art. 2(2), Sch. 1 Pt. II

F27 S. 178(2)(s) and preceding word inserted (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 6 para. 162(d) (with Sch. 7)

F28 S. 178(2)(t) added (10.7.2003) by Finance Act 2003 (c. 14), Sch. 18 para. 4

F29 S. 178(2)(u) and word inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 11(2)

F30 Word in s. 178(2) omitted (with effect in accordance with s. 116(1) of the amending Act) by virtue of Finance Act 2015 (c. 11), s. 115(4)

F31 S. 178(2)(v) and word inserted (with effect in accordance with s. 116(1) of the amending Act) by Finance Act 2015 (c. 11), s. 115(4)

F32 S. 178(5) omitted (21.7.2009) by virtue of Finance Act 2009 (c. 10), s. 105(6)(a)

F33 S. 178(6) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

Modifications etc. (not altering text)

C1 S. 178 applied by Ports Act 1991 (c. 52, SIF 58), s. 14(4).

S. 178 applied (27.7.1993) by 1993 c. 34, s. 173, Sch. 19 Pt. II para. 11(4)

S. 178 applied (1.9.1994 with effect as mentioned in s. 199 of 1994 c. 9) by 1970 c. 9, s. 59C (as inserted by 1994 c. 9, s. 194); S.I. 1998/3173, art, 2

S. 178 applied (1.5.1995) by 1995 c. 4, s. 157(6)

S. 178 extended (1.5.1995) by 1995 c. 4, s. 157(6)

S. 178 applied (31.7.1997) by 1997 c. 58, s. 3, Sch. 2 para. 12(4)

S. 178 applied (27.7.1999 with application to instruments executed on or after 1.10.1999) by 1891 c. 39, s. 15A(3) (as substituted (27.7.1999 with application to instruments executed on or after 1.10.1999) by 1999 c. 16, s. 109(1)(4))

S. 178 applied (27.7.1999 with application in relation to instruments executed on or after 1.10.1999) by ss. 110(1)-(5)(10), 123(4)

S. 178 applied (5.10.1999) by 1999 c. 10, ss. 10(4), 20(2), Sch. 4 para. 8(2)

S. 178 applied (1.4.2000) by S.I. 2000/944, art. 25

S. 178 applied (1.4.2000) by s.I. 2000/944, art. 41(1)

S. 178 applied (1.4.2000) by S.I. 2000/944, art. 46(1)

S. 178 applied (1.3.2003) by S.I. 2002/2172, reg. 8(13)

C2 S. 178 applied (6.4.2007) by The Income Tax (Construction Industry Scheme) Regulations 2005 (S.I. 2005/2045), regs. 1, 15(5) (with reg. 60, Sch. 1)

C3 S. 178 applied (6.4.2007) by The Income Tax (Construction Industry Scheme) Regulations 2005 (S.I. 2005/2045), regs. 1, 14(6) (with reg. 60, Sch. 1)

C4 S. 178 applied by SR 2009/128, reg. 34 (as substituted (N.I.) (31.10.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations (Northern Ireland) 2011 (S.R. 2011/137), regs. 1(2), 7)

C5 S. 178 applied by S.I. 2009/470 reg. 39(2)(a)(5)(a) (as substituted (31.10.2011) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2011 (S.I. 2011/784), regs. 1(2), 8)

C6 S. 178 applied (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 11(1)

C7 S. 178 applied (with effect in accordance with s. 116(1) of the amending Act) by Finance Act 2015 (c. 11), s. 79(1)

C8 S. 178 applied by 2010 c. 4, s. 357YR(3) (as inserted (with effect in accordance with s. 38(9)-(12) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 38(3))

C9 For regulations see S.I. 1989/1297 (inPart III Vol. 5).And see Tables Iand O Vol. 1

C10 Power of appointment conferred by s. 178(7) partly exercised: 18.8.1989 appointed by S.I. 1989/1298 for all the enactments specified in s. 178(2) other than s. 87A of the 1970 Act and s. 826 of the 1988 Act

Marginal Citations

M7 1894 c. 30.

M8 1896 c. 28.

M9 1910 c. 8.

M10 1925 c. 20.

M11 1970 c. 9.

M12 1973 c. 51.

M13 1992 c.5.

M14 1992 c.8.

M15 1975 c. 22.

M16 1992 c. 12.

M17 1976 c. 24.

M18 1984 c. 51.

M19 1986 c. 41.

179 Provisions consequential on section 178. U.K.

(1) The words “rate applicable under section 178 of the Finance Act 1989”shall be substituted—

(a) for the words from “rate” to “annum” in—

(i) section 18(1) of the M20 Finance Act 1896,

(ii) section 61(5) of the M21 Finance (1909-10) Act 1910,

(iii) section 17(3) of the M22 Law of Property Act 1925,

F34 (iv) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(v) paragraphs 15(1) and 16 of Schedule 2, and paragraph 8(4) of Schedule 5,to the M23 Oil Taxation Act 1975,

F35 (vi) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(vii) sections 824(1) and 825(2) of the Taxes Act 1988,

(b) for the words“ prescribed rate” in—

(i) sections 86(1), 86A(1), 87(1), 87A(1) F36 ... [F37 and 88(1)] of the M24 Taxes Management Act 1970,

(ii) paragraph 3(4) of Schedule 16A to the M25 Finance Act1973, and

(iii) paragraph 3(4) of Schedule 19A to the Taxes Act 1988,

(c) for the words “rate which” onwards in—

(i) paragraph 59(1) of Schedule 8 to the M26 Development LandTax Act 1976, and

(ii) section 826(1) of the Taxes Act 1988,

(d) for the words “rate applicable under subsection (2) below” in section233(1) of the M27 Inheritance Tax Act 1984,

(e) for the words “rate for the time being applicable under section233(2)(b) above” in subsection (3), and the words “rate for the timebeing applicable under section 233(2)(a) above” in subsection (4), ofsection 236 of that Act,

(f) for the words “appropriate rate” in section 92(2) of the M28 Finance Act 1986, and

F38 (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) In section 8(9) of the M29 Finance Act 1894, for thewords from “such interest” to “per cent.” there shall be substitutedthe words “interest at such rate not exceeding that applicable under section178 of the Finance Act 1989”.

(3) In section 236(4) of the Inheritance Tax Act 1984, for the words “as ifsection 233(1)(b) above had applied” there shall be substituted the words “from the end of the period mentioned in section 233(1)(b) above”.

(4) Any amendment made by subsection (1), (2) or (3) above shall have effect in relation to any period for which section 178(1) above has effect for thepurposes of the enactment concerned.

F39 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F34 S. 179(1)(a)(iv) repealed (13.10.2003) by Land Registration Act 2002 (c. 9), s. 136(2), Sch. 13 (with s. 129, Sch. 12 para. 1); S.I. 2003/1725, art. 2(1)

F35 S. 179(1)(a)(vi) repealed (6.3.1992 with effect as mentioned in s. 289(1)(2) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch. 12 (with ss. 201(3), Sch. 11 paras. 22, 26(2), 27)

F36 Words in s. 179(1)(b)(i) omitted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 54(b)

F37 Words in s. 179(1)(b)(i) repealed (29.4.1996 with effect in accordance with Sch. 18 para. 17 of the amending Act) by 1996 c. 8, s. 205, Sch. 41 Pt. V

F38 S. 179(1)(g) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)

F39 S. 179(5) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)

Marginal Citations

M20 1896 c. 28.

M21 1910 c. 8.

M22 1925 c. 20.

M23 1975 c. 22.

M24 1970c. 9.

M25 1973 c. 51.

M26 1976 c. 24.

M27 1984 c. 51.

M28 1986 c.41.

M29 1894 c. 30.

180 Repayment interest: period of accrual. U.K.

(1) In section 48(1) of the M30 Finance Act 1975, after thewords “carry interest” there shall be inserted the words “from the dateon which the sums were paid until the order for repayment is issued”.

(2) In—

(a) paragraph 16 of Schedule 2 to the M31 Oil Taxation Act1975,

(b) section 105(7) of the M32 Finance Act 1980,

(c) paragraph 13(4) and (5) of Schedule 16 to the M33 FinanceAct 1981, and

(d) paragraph 10(4) of Schedule 19 to the M34 Finance Act1982,

for the word “repayment” there shall be substituted the words “theorder for repayment is issued”.

(3) In paragraph 59(1) of Schedule 8 to the M35 DevelopmentLand Tax Act 1976, after the word “later,” there shall be inserted thewords “until the order for repayment is issued”.

(4) In section 235(1) of the M36 Inheritance Tax Act 1984(and paragraph 19(3) of Schedule 4 to the M37 Finance Act1975), after the word “made” there shall be inserted the words “untilthe order for repayment is issued”.

(5) In section 92(2) of the M38 Finance Act 1986, for thewords “the time it was paid” there shall be substituted the words “thedate on which the payment was made until the order for repayment isissued”.

(6) In section 826(1) of the Taxes Act 1988, for the words “that repaymentor payment is made” there shall be substituted the words “the order forrepayment or payment is issued”.

(7) The amendments made by this section shall be deemed always to have hadeffect.

Marginal Citations

M30 1975 c. 7.

M31 1975 c. 22.

M32 1980 c. 48.

M33 1981 c. 35.

M34 1982 c. 39.

M35 1976 c. 24.

M36 1984 c. 51.

M37 1975 c. 7.

M38 1986 c. 41.

Miscellaneous U.K.

[F40 181 Broadcasting: additional payments by programme contractors. U.K.

(1) M39 The Broadcasting Act 1981 shall have effect withrespect to additional payments payable by programme contractors under that Actsubject to the amendments made by Part I, and with the substitution, forSchedule 4 to that Act, of the provisions contained in Part II, of Schedule16 to this Act.

(2) The transitional provisions made by Part III of that Schedule shall haveeffect.

(3) This section shall come into force on 1st January 1990.]

Textual Amendments

F40 S. 181, Sch. 16 repealed (prosp. as mentioned in S.I. 1990/2347, art. 3(3)) by Broadcasting Act 1990 (c. 42, SIF 96), ss. 127-129, 134, 203(3), 204(2), Schs. 9-12, Sch. 21

Marginal Citations

M39 1981 c. 68.

182 Disclosure of information. U.K.

(1) A person who discloses any information which he holds or has held in the exercise of tax functions[F41 , tax credit functions] [F42 , child trust fund functions] [F43 or social security functions] is guilty of an offence if it is information about any matter relevant, for the purposes of [F44 any of those functions—.

(a) to tax or duty in the case of any identifiable person,

[F45 (aa) to a tax credit in respect of any identifiable person,]

[F46 (ab) to a child trust fund of any identifiable person,]

(b) to contributions payable by or in respect of any identifiable person, or

(c) to statutory sick pay[F47 , statutory maternity pay, [F48 statutory paternity pay,] statutory adoption pay] [F49 or statutory shared parental pay] in respect of any identifiable person.]

(2) In this section “tax functions” means functions relating to tax or duty—

(a) of the Commissioners, the Board and their officers,

(b) of any person carrying out the administrative work of [F50 the First-tier Tribunal or Upper Tribunal], and

(c) of any other person providing, or employed in the provision of, services to any person mentioned in paragraph (a) or (b) above.

[F51 (2ZA) In this section “tax credit functions” means the functions relating to tax credits—

(a) of the Board,

(b) of any person carrying out the administrative work of the [F52 the First-tier Tribunal or Upper Tribunal], and

(c) of any other person providing, or employed in the provision of, services to the Board or to any person mentioned in paragraph (b) above.]

[F53 (2ZB) In this section “child trust fund functions” means the functions relating to child trust funds—

(a) of the Board and their officers,

(b) of any person carrying out the administrative work of the [F54 First-tier Tribunal or an appeal tribunal constituted under Chapter 1 of Part 2 of the Social Security (Northern Ireland) Order 1998], or

(c) of any person providing, or employed in the provision of, services to the Board or any person mentioned in paragraph (b) above.]

[F55 (2A) In this section “social security functions” means—

(a) the functions relating to contributions, [F56 child benefit, guardian’s allowance,] statutory sick pay[F57 , statutory maternity pay, [F58 statutory paternity pay,] statutory adoption pay] [F59 or statutory shared parental pay] —

(i) of the Board and their officers,

(ii) of any person carrying out the administrative work of the [F60 the First-tier Tribunal or Upper Tribunal], and

(iii) of any other person providing, or employed in the provision of, services to any person mentioned in sub-paragraph (i) or (ii) above, and

(b) the functions under Part III of the Pension Schemes Act 1993 or Part III of the Pension Schemes (Northern Ireland) Act 1993 of the Board and their officers and any other person providing, or employed in the provision of, services to the Board or their officers.]

F61 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) A person who discloses any information which—

(a) he holds or has held in the exercise of functions—

(i) of the Comptroller Auditor General [F62 , of the National Audit Office and any member or employee of that Office or of any member of the staff of the National Audit Office that was established by section 3 of the National Audit Act 1983] , F63 . . .

[F64 (ia) of the Comptroller and Auditor General for Northern Ireland and any member of the staff of the Northern Ireland Audit Office,]

(ii) of the Parliamentary Commissioner for Administration and his officers,

[F65 (iii) of the Auditor General for Wales and any member of his staff, F66 ...

[F67 (iiia) of the Wales Audit Office and any member or employee of that Office,]

[F68 (iv) of the Public Services Ombudsman for Wales and any member of his staff, or]]

(v) [F69 of the Scottish Public Services Ombudsman and any member of his staff,]

(b) is, or is derived from, information which was held by any person in the exercise of tax functions[F70 , tax credit functions] [F71 , child trust fund functions] [F72 or social security functions], and

(c) is information about any matter relevant, for the purposes of [F73 tax functions[F74 , tax credit functions] [F75 , child trust fund functions] or social security functions—

(i) to tax or duty in the case of any identifiable person,

[F76 (ia) to a tax credit in respect of any identifiable person,]

[F77 (ib) to a child trust fund of any identifiable person,]

(ii) to contributions payable by or in respect of any identifiable person, or

(iii) to[F78 child benefit, guardian’s allowance,] statutory sick pay [F79 , statutory maternity pay, [F80 statutory paternity pay,] statutory adoption pay] [F81 or statutory shared parental pay] in respect of any identifiable person]

is guilty of an offence.

(5) Subsections (1) and (4) above do not apply to any disclosure of information—

(a) with lawful authority,

(b) with the consent of any person in whose case the information is about a matter relevant to tax or duty [F82 , to a tax credit or to a child trust fund] [F83 or to contributions, statutory sick pay[F84 , statutory maternity pay, [F85 statutory paternity pay,] statutory adoption pay]] [F86 or statutory shared parental pay] , or

(c) which has been lawfully made available to the public before the disclosure is made.

(6) For the purposes of this section a disclosure of any information is made with lawful authority if, and only if, it is made—

(a) by a Crown servant in accordance with his official duty,

(b) by any other person for the purposes of the function in the exercise of which he holds the information and without contravening any restriction dulyimposed by the person responsible,

(c) to, or in accordance with an authorisation duly given by, the person responsible,

(d) in pursuance of any enactment or of any order of a court, or

(e) in connection with the institution of or otherwise for the purposes of any proceedings relating to any matter within the general responsibility of the Commissioners or, as the case requires, the Board,

and in this subsection “the person responsible” means the Commissioners, the Board, the Comptroller [F87 and Auditor General, the Comptroller and Auditor General for Northern Ireland] [F88 , the Parliamentary Commissioner, the Auditor General for Wales [F89 , [F90 the Public Services Ombudsman for Wales] or the Scottish Public Services Ombudsman],] as the case requires.

(7) It is a defence for a person charged with an offence under this section to prove that at the time of the alleged offence—

(a) he believed that he had lawful authority to make the disclosure in question and had no reasonable cause to believe otherwise, or

(b) he believed that the information in question had been lawfully made available to the public before the disclosure was made and had no reasonablecause to believe otherwise.

(8) A person guilty of an offence under this section is liable—

(a) on conviction on indictment, to imprisonment for a term not exceeding two years or a fine or both, and

(b) on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum or both.

(9) No prosecution for an offence under this section shall be instituted in England and Wales or in Northern Ireland except—

(a) by the Commissioners or the Board, as the case requires, or

(b) by or with the consent of the Director of Public Prosecutions or, in Northern Ireland, the Director of Public Prosecutions for Northern Ireland.

(10) In this section—

• “the Board” means the Commissioners of Inland Revenue,

• [F91 “child trust fund” has the same meaning as in the Child Trust Funds Act 2004,]

• “the Commissioners” means the Commissioners of Customs and Excise,

• [F92 “contributions” means contributions under Part I of the Social Security Contributions and Benefits Act 1992 or Part I of the Social Security Contributions and Benefits (Northern Ireland) Act 1992;]

• “Crown servant” has the same meaning as in the M40 Official Secrets Act 1989,

• [F93 “tax credit” means a tax credit under the Tax Credits Act 2002,] and

• “tax or duty” means any tax or duty within the general responsibility of the Commissioners or the Board.

[F94 (10A) In this section, in relation to the disclosure of information “identifiable person” means a person whose identity is specified in the disclosure or can be deduced from it.]

(11) In this section—

F95 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F95 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c) references to the Parliamentary Commissioner for Administration include the Health Service Commissioner for EnglandF96 ... , F97 ... the [F98 Assembly Ombudsman for Northern Ireland] and the Northern Ireland Commissioner for Complaints.

[F99 (11A) In this section, references to [F100 statutory paternity pay,] statutory adoption pay [F101 or statutory shared parental pay] include statutory pay under Northern Ireland legislation corresponding to Part 12ZA [F102 , Part 12ZB or Part 12ZC] of the Social Security Contributions and Benefits Act 1992 (c. 4).]

(12) This section shall come into force on the repeal of section 2 of the M41 Official Secrets Act 1911.

Textual Amendments

F41 Words in s. 182(1) inserted (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(2)(a); S.I. 2002/1727; S.I. 2003/392, art. 2

F42 Words in s. 182(1) inserted (1.1.2005) by Child Trust Funds Act 2004 (c. 6), ss. 18(2)(a), 27; S.I. 2004/2422, art. 2

F43 Words in s. 182(1) inserted (1.4.1999) by 1999 c. 2, s. 6, Sch. 6 para. 9(2)(a); S.I. 1999/527, art. 2(b), Sch. 2

F44 S. 182(1)(a)-(c) and words immediately preceding substituted for words in s. 182(1) (1.4.1999) by 1999 c. 2, s. 6, Sch. 6 para. 9(2)(b); S.I. 1999/527, art. 2(b), Sch. 2

F45 S. 182(1)(aa) substituted (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(2)(b); S.I. 2002/1727; S.I. 2003/392, art. 2

F46 S. 182(1)(ab) inserted (1.1.2005) by Child Trust Funds Act 2004 (c. 6), ss. 18(2)(b), 27; S.I. 2004/2422, art. 2

F47 Words in s. 128(1)(c) substituted (8.12.2002) by 2002 c. 22, s. 53, Sch. 7 para. 1(2)(a); S.I. 2002/2866, art. 2(2), Sch. 1 Pt. 2

F48 Words in s. 182(1)(c) substituted (5.4.2015) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(2)(a); S.I. 2014/1640, art. 7(c) (with arts. 16, 17)

F49 Words in s. 182(1)(c) inserted (1.12.2014) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(2)(b); S.I. 2014/1640, art. 5(2)(d)

F50 Words in s. 182(2)(b) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 167(a)

F51 S. 182(2ZA) substituted for (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(3); S.I. 2002/1727; S.I. 2003/392, art. 2

F52 Words in s. 182(2ZA)(b) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 167(b)

F53 S. 182(2ZB) inserted (1.1.2005) by Child Trust Funds Act 2004 (c. 6), ss. 18(3), 27; S.I. 2004/2422, art. 2

F54 Words in s. 182(2ZB)(b) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 167(c)

F55 S. 182(2A) inserted (1.4.1999) by 1999 c. 2, s. 6, Sch. 6 para. 9(3); S.I. 1999/527, art. 2(b), Sch. 2

F56 Words in s. 182(2A) inserted (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(4); S.I. 2002/1727; S.I. 2003/392, art. 2

F57 Words in s. 182(2A)(a) substituted (8.12.2002) by 2002 c. 22, s. 53, Sch. 7 para. 1(2)(b); S.I. 2002/2866, art. 2(2), Sch. 1 Pt. 2

F58 Words in s. 182(2A)(a) substituted (5.4.2015) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(3)(a); S.I. 2014/1640, art. 7(c) (with arts. 16, 17)

F59 Words in s. 182(2A)(a) inserted (1.12.2014) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(3)(b); S.I. 2014/1640, art. 5(2)(d)

F60 Words in s. 182(2A)(a)(ii) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 167(d)

F61 S. 182(3) omitted (1.4.2009) by virtue of The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 167(e)

F62 Words in s. 182(4)(a)(i) substituted (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 5 para. 14(2)(a); S.I. 2011/2576, art. 5

F63 Word in s. 182(4)(a)(i) repealed (1.2.1999) by 1998 c. 38, s. 152, Sch. 18 Pt. I (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1999/118, art. 2

F64 S. 182(4)(a)(ia) inserted (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 5 para. 14(2)(b); S.I. 2011/2576, art. 5

F65 S. 182(4)(a)(iii)(iv) inserted (1.2.1999) by 1998 c. 38, s. 125, Sch. 12 para. 31(2) (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1999/118, art. 2

F66 Word in s. 182(4)(a)(iii) omitted (14.7.2004) by virtue of Scottish Public Services Ombudsman Act 2002 (Consequential Provisions and Modifications) Order 2004 (S.I. 2004/1823), arts. 1, 10(a)

F67 S. 182(4)(a)(iiia) inserted (E.W.) (1.4.2014) by Public Audit (Wales) Act 2013 (anaw 3), s. 35(2), Sch. 4 para. 2 (with Sch. 3 para. 3); S.I. 2013/1466, art. 3(1)

F68 S. 182(4)(a)(iv) substituted (1.4.2006) by Public Services Ombudsman (Wales) Act 2005 (c. 10), s. 40, Sch. 6 para. 22(a); S.I. 2005/2800, art. 5(1)(3)

F69 S. 182(4)(a)(v) and preceding word inserted (14.7.2004) by Scottish Public Services Ombudsman Act 2002 (Consequential Provisions and Modifications) Order 2004 (S.I. 2004/1823), arts. 1, 10(b)

F70 Words in s. 182(4)(b) inserted (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(5)(a); S.I. 2002/1727; S.I. 2003/392, art. 2

F71 Words in s. 182(4)(b) inserted (1.1.2005) by Child Trust Funds Act 2004 (c. 6), ss. 18(4)(a), 27; S.I. 2004/2422, art. 2

F72 Words in s. 182(4)(b) inserted (1.4.1999) by 1999 c. 2, s. 6, Sch. 6 para. 9(4)(a); S.I. 1999/527, art. 2(b), Sch. 2

F73 S. 182(4)(c)(i)-(iii) and words immediately preceding substituted for words in s. 182(4)(c) (1.4.1999) by 1999 c. 2, s. 6, Sch. 6 para. 9(4)(b); S.I. 1999/527, art. 2(b), Sch. 2

F74 Words in s. 182(4)(c) inserted (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(5)(b); S.I. 2002/1727; S.I. 2003/392, art. 2

F75 Words in s. 182(4)(c) inserted (1.1.2005) by Child Trust Funds Act 2004 (c. 6), ss. 18(4)(a), 27; S.I. 2004/2422, art. 2

F76 S. 182(4)(c)(ia) substituted (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(5)(c); S.I. 2002/1727; S.I. 2003/392, art. 2

F77 S. 182(4)(c)(ib) inserted (1.1.2005) by Child Trust Funds Act 2004 (c. 6), ss. 18(4)(b), 27; S.I. 2004/2422, art. 2

F78 Words in s. 182(4)(c)(iii) inserted (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(5)(d); S.I. 2002/1727; S.I. 2003/392, art. 2

F79 Words in s. 182(4)(c)(iii) substituted (8.12.2002) by 2002 c. 22, s. 53, Sch. 7 para. 1(2)(c); S.I. 2002/2866, art. 2(2), Sch. 1 Pt. 2

F80 Words in s. 182(4)(c)(iii) substituted (5.4.2015) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(4)(a); S.I. 2014/1640, art. 7(c) (with arts. 16, 17)

F81 Words in s. 182(4)(c)(iii) inserted (1.12.2014) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(4)(b); S.I. 2014/1640, art. 5(2)(d)

F82 Words in s. 182(5)(b) substituted (1.1.2005) by Child Trust Funds Act 2004 (c. 6), ss. 18(5), 27; S.I. 2004/2422, art. 2

F83 Words in s. 182(5)(b) inserted (1.4.1999) by 1999 c. 2, s. 6, Sch. 6 para. 9(5); S.I. 1999/527, art. 2(b), Sch. 2

F84 Words in s. 182(5)(b) substituted (8.12.2002) by 2002 c. 22, s. 53, Sch. 7 para. 1(2)(d); S.I. 2002/2866, art. 2(2), Sch. Pt. 2

F85 Words in s. 182(5)(b) substituted (5.4.2015) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(5)(a); S.I. 2014/1640, art. 7(c) (with arts. 16, 17)

F86 Words in s. 182(5)(b) inserted (1.12.2014) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(5)(b); S.I. 2014/1640, art. 5(2)(d)

F87 Words in s. 182(6) inserted (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 5 para. 14(3); S.I. 2011/2576, art. 5

F88 Words in s. 182(6)(e) substituted (1.2.1999) by 1998 c. 38, s. 125, Sch. 12 para. 31(3) (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1999/118, art. 2

F89 Words in s. 182(6) substituted (14.7.2004) by Scottish Public Services Ombudsman Act 2002 (Consequential Provisions and Modifications) Order 2004 (S.I. 2004/1823), arts. 1, 10(c)

F90 Words in s. 182(6) substituted (1.4.2006) by Public Services Ombudsman (Wales) Act 2005 (c. 10), s. 40, Sch. 6 para. 22(b); S.I. 2005/2800, art. 5(1)(3)

F91 Words in s. 182(10) inserted (1.1.2005) by Child Trust Funds Act 2004 (c. 6), ss. 18(6), 27; S.I. 2004/2422, art. 2

F92 S. 182(10): definition of “contributions” inserted (1.4.1999) by 1999 c. 2, s. 6, Sch. 6 para. 9(6); S.I. 1999/527, art. 2(b), Sch. 2

F93 Words in s. 182(10) inserted (1.8.2002 for specified purposes, 26.2.2003 for specified purposes, 1.4.2003 for specified purposes) by Tax Credits Act 2002 (c. 21), s. 61, Sch. 5 para. 11(7); S.I. 2002/1727; S.I. 2003/392, art. 2

F94 S. 182(10A) inserted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 39; S.I. 2005/1126, art. 2(2)(h)

F95 S. 182(11)(a)(b) omitted (1.4.2012) by virtue of Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 5 para. 14(4); S.I. 2011/2576, art. 5

F96 Words in s. 182(11)(c) repealed (1.4.2006) by Public Services Ombudsman (Wales) Act 2005 (c. 10), s. 40, Sch. 6 para. 22(c), Sch. 7; S.I. 2005/2800, art. 5(1)(3)

F97 Words in s. 182(11)(c) omitted (14.7.2004) by virtue of Scottish Public Services Ombudsman Act 2002 (Consequential Provisions and Modifications) Order 2004 (S.I. 2004/1823), arts. 1, 10(d)

F98 Words in s. 182(11)(c) substituted (16.7.1996) by S.I. 1996/1298 (N.I. 8), art. 21(1), Sch. 5

F99 S. 182(11A) inserted (8.12.2002) by 2002 c. 22, s. 53, Sch. 7 para. 1(3); S.I. 2002/2866, art. 2(2), Sch. 1 Pt. 2

F100 Words in s. 182(11A) substituted (15.3.2015 being the date on which 1992 c. 7, Pt. 12ZC comes into force by virtue of S.R. 2015/86, art. 3(1)(d)) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(6)(a); S.I. 2014/1640, art. 8(a) (with art. 18)

F101 Words in s. 182(11A) inserted (15.3.2015 being the date on which 1992 c. 7, Pt. 12ZC comes into force by virtue of S.R. 2015/86, art. 3(1)(d)) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(6)(b); S.I. 2014/1640, art. 8(a) (with art. 18)

F102 Words in s. 182(11A) substituted (15.3.2015 being the date on which 1992 c. 7, Pt. 12ZC comes into force by virtue of S.R. 2015/86, art. 3(1)(d)) by Children and Families Act 2014 (c. 6), s. 139(6), Sch. 7 para. 5(6)(c); S.I. 2014/1640, art. 8(a) (with art. 18)

Modifications etc. (not altering text)

C11 S. 182 restricted (6.4.1997) by 1995 c. 26, s. 109(5) (with 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt. II

S. 182 restricted (6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 107(2) (with art. 118(5)(6)); S.R. 1997/192, art. 2(b)

C12 S. 182 restricted (6.4.2005) by Pensions Act 2004 (c. 35), ss. 202(2), 322(1) (with s. 313); S.I. 2005/275, art. 2(7), Sch. Pt. 7

C13 S. 182 restricted (6.4.2005) by Pensions Act 2004 (c. 35), ss. 88(2), 202(2), 322(1) (with s. 313); S.I. 2005/275, art. 2(7), Sch. Pt. 7

C14 S. 182(2ZB) modified (temp.) (6.4.2005) by Child Trust Funds Act 2004 (c. 6), s. 24(1)(4)27; S.I. 2004/3369, art. 2(1)

C15 S. 182(2ZB) modified (temp.) (6.4.2005) by Child Trust Funds Act 2004 (c. 6), s. 24(1)(4)27; S.I. 2004/3369, art. 2(1)

Marginal Citations

M40 1989c. 6.

M41 1911 c. 28.

[182A F103 Double taxation: disclosure of information. U.K.

(1) A person who discloses any information acquired by him in the exercise of his functions as a member of an advisory commission set up under the Arbitration Convention is guilty of an offence.

(2) Subsection (1) above does not apply to any disclosure of information—

(a) with the consent of the person who supplied the information to the commission, or

(b) which has been lawfully made available to the public before the disclosure is made.

(3) It is a defence for a person charged with an offence under this section to prove that at the time of the alleged offence he believed that the information in question had been lawfully made available to the public before the disclosure was made and had no reasonable cause to believe otherwise.

(4) A person guilty of an offence under this section is liable—

(a) on conviction on indictment, to imprisonment for a term not exceeding two years or a fine or both;

(b) on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum or both.

(5) No prosecution for an offence under this section shall be instituted in England and Wales or in Northern Ireland except—

(a) by the Board, or

(b) by or with the consent of the Director of Public Prosecutions or, in Northern Ireland, the Director of Public Prosecutions for Northern Ireland.

(6) In this section—

• “the Arbitration Convention” has the meaning given by [F104 section 126 of the Taxation (International and Other Provisions) Act 2010];

• “the Board” means the Commissioners of Inland Revenue.]

Textual Amendments

F103 S. 182A inserted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 51(3)

F104 Words in s. 182A(6) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 39 (with Sch. 9 paras. 1-9, 22)

183 Government securities: redemption and transfer. U.K.

(1) In section 47 of the M42 Finance Act 1942 (power to makeregulations about transfer and registration of Government stock)—

(a) the following paragraph shall be inserted after paragraph (b) ofsubsection (1)—

“(bb) for the redemption of such stock and bonds;”and

(b) the following subsection shall be inserted after that subsection—

“(1A) Regulations under subsection (1) of this section may make provisionauthorising the Bank of England, in such circumstances and subject to suchconditions as may be prescribed in the regulations, to transfer stock andbonds standing in their books in the name of a deceased person into the nameof another person without requiring the production of probate, confirmationor letters of administration.”

(2) In section 3(1) of the M43 National Debt Act 1972 (powerto make regulations about stock on the National Savings Stock Register) thefollowing paragraph shall be inserted after paragraph (b)—

“(bb) the redemption of stock registered in the register,”.

(3) After section 14 of the M44 National Loans Act 1968 thereshall be inserted—

“14A Redemption of securities held in Issue Department of Bank of England.

(1) Any securities of Her Majesty’s Government in the United Kingdom which arefor the time being held in the Issue Department of the Bank of England may beredeemed by the Treasury before maturity at market prices determined in suchmanner as may be agreed between the Treasury and the Bank.

(2) Any expensess incurred by the Treasury in connection with the redemptionof securities under subsection (1) above shall be paid out of the NationalLoans Fund.”

Marginal Citations

M42 1942 c. 21.

M43 1972 c. 65.

M44 1968 c. 13.

184 National savings accounts. U.K.

(1) In section 2 of the M45 National Savings Bank Act 1971(general power to make regulations) after subsection (1) there shall beinserted—

“(1A) Regulations under this section may restrict the classes of persons who mayopen accounts with the National Savings Bank, but any such restriction shallnot apply to any account opened before the coming into force of theregulations imposing the restriction.”

(2) In section 5 of that Act (interest on ordinary deposits) in subsection (1)for the words from the beginning to “in any ordinary deposit account”there shall be substituted “The Director of Savings may, with the consentof the Treasury, from time to time determine the rate or rates at whichinterest is to be payable on amounts deposited in ordinary accounts or thatno interest is to be payable on such amounts, and any such determination inrelation to amounts deposited in any ordinary deposit account may be made”.

(3) After subsection (1) of section 5 of that Act there shall beinserted—

“(1A) The Director of Savings shall give notice in the London, Edinburgh andBelfast Gazettes of any determination under subsection (1) above; and any suchdetermination may affect deposits received at or before, as well as after, thetime the determination is made.”

(4) Subsection (5) of section 5 of that Act (rate of interest on ordinarydeposits to be not less than 2.5 per cent per annum) shall cease to haveeffect.

(5) Subsections (2) and (3) above shall come into force on 1st October 1989.

Marginal Citations

M45 1971 c. 29.

F105 185 Winding up of Redemption Annuities Account. U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F105 S. 185 repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 6 Group 3

General U.K.

186 Interpretation etc. U.K.

(1) In this Act “the Taxes Act 1970” means the M46 Income and Corporation Taxes Act 1970 and “the Taxes Act1988” means the M47 Income and Corporation Taxes Act1988.

(2) Chapter II of Part I of this Act shall be construed as one with the M48 Value Added Tax Act 1983.

(3) Part II of this Act, so far as it relates to capital gains tax, shall beconstrued as one with the M49 Capital Gains Tax Act 1979.

Marginal Citations

M46 1970 c.10.

M47 1988 c. 1.

M48 1983 c. 55.

M49 1979 c. 14.

187 Repeals. U.K.

(1) The enactments specified in Schedule 17 to this Act (which includeunnecessary enactments) are hereby repealed to the extent specified in thethird column of that Schedule, but subject to any provision at the end of anyPart of that Schedule.

(2) The repeal of the enactments specified in Part XIV of Schedule 17 shallcome into force on such day as the Treasury may appoint by order made bystatutory instrument; and different days may be appointed for differentenactments.

Modifications etc. (not altering text)

C16 Power of appointment conferred by s. 187(2) partly exercised:30.9.1989 appointed by S.I. 1989/1788, art. 2 for the repeal of the enactmentsspecified in Part XIV of Schedule 17 other than section 27 in Part II of theTithe Act 1936 (c. 43)

188 Short title. U.K.

This Act may be cited as the Finance Act 1989.