Finance Act 1990

Part IV Income Tax, Corporation Tax and Capital Gains Tax

Chapter	Short title	Extent of repeal
1. The repeal in the Income and Corporation Taxes Act 1970 applies to disposals on or after 20th March 1990. 2. The repeals of section 52 of the Finance Act 1974 and section 519(4) of the Income and Corporation Taxes Act 1988 are deemed to have come into force on 1st April 1990. 3. The repeals in the Finance (No.2) Act 1975 and in sections 439, 445 and 446 of the Income and Corporation Taxes Act 1988 have effect in accordance with Schedule 6 to this Act. 4. The repeal in section 339(2) of the Income and Corporation Taxes Act 1988 has effect in relation to payments made on or after 1st October 1990. 5. The repeal of section 339(5) of the Income and Corporation Taxes Act 1988 has effect in relation to accounting periods ending on or after 1st October 1990. 6. The repeal in section 431(2) of that Act and the repeal of paragraphs 1 and 3(3) of Schedule 8 to the Finance Act 1989 are deemed always to have had effect. 7. The repeal of sections 468(5) and 468A to 468D of the Income and Corporation Taxes Act 1988, and of sections 78 and 79 of the Finance Act 1989, have effect in accordance with section 52 of this Act. 8. The repeals of section 476 (apart from the repeal in subsection (4) of the words from the beginning to “affecting” and the words “and that paragraph”) and sections 477, 479 and 480 of the Income and Corporation Taxes Act 1988, and the repeals in sections 349, 481, 482, 483, 686 and 687 of that Act, have effect in accordance with Schedule 5 to this Act. 9. The repeal of section 659 of the Income and Corporation Taxes Act 1988 has effect in accordance with section 81 of this Act. 10. The repeal in section 772 of that Act does not affect any proceedings instituted before 3rd April 1989. 11. The repeals in section 832 of that Act and section 149 of the Capital Allowances Act 1990 apply for chargeable periods beginning on or after 6th April 1990. 12. The repeals in Schedule 25 to the Income and Corporation Taxes Act 1988 apply to dividends paid on or after 20th March 1990. 13. The repeal in Schedule 4 to the Finance Act 1988 applies where the valuation date is on or after 20th March 1990. 14. The repeal of paragraph 7 of Schedule 8 to the Finance Act 1989 applies for accounting periods beginning on or after 1st January 1990. 15. The repeal in Schedule 11 to that Act has effect in accordance with section 58 of this Act. 16. The repeal in section 161(10) of the Capital Allowances Act 1990 applies in relation to a sale of an asset when both the time of completion and the time when possession of the asset is given are on or after 6th April 1990.
1969 c. 32.	The Finance Act 1969.	Section 52.
1970 c. 10.	The Income and Corporation Taxes Act 1970.	In section 272(1)(a), the words “, subject to section 280(7) below,”.
1974 c. 30.	The Finance Act 1974.	Section 52.
1975 c. 45.	The Finance (No.2) Act 1975.	In section 58(10), the definition of “trading stock”.
1988 c. 1.	The Income and Corporation Taxes Act 1988.	Section 257C(4).
		In section 339, in subsection (2) the words “and is not a close company” and subsection (5).
		In section 349(3)(d), the words “or 479(1)”.
		In section 431(2), the definitions of “policy holders' fraction” and “shareholders' fraction”.
		In section 439, in subsection (7)(b), the words “(subject to subsection (8) below)” and subsection (8).
		Section 445(6).
		Section 446(4).
		Section 468(5).
		Sections 468A to 468D.
		Sections 476 and 477.
		Sections 479 and 480.
		In section 481, in subsection (1) the words “sections 479 and 480”, in subsection (2) paragraphs (d) and (e), and in subsection (6) the words “479(2) to (7), 480”.
		In section 482, in subsection (1) the words “479, 480 and” and in subsection (6) the words from “In relation” to the end.
		In section 483, subsections (1) to (3) and (5).
		Section 519(4).
		Section 659.
		Section 686(5).
		In section 687(3) the words following paragraph (i).
		Section 724(2).
		In section 772(8), the words “or, in Northern Ireland, to a county court”.
		In section 832(1), in the definition of “the Capital Allowances Acts”, the words “, but excluding Part III of that Act”.
		In Schedule 25, paragraph 2(1)(c) and the word “and” immediately following it and paragraph 4(1)(c) and the word “and” immediately following it.
1988 c. 39.	The Finance Act 1988.	In Schedule 4, paragraph 13(3).
		In Schedule 8, in paragraph 1(3), the word “and” at the end of paragraph (f).
1989 c. 26.	The Finance Act 1989.	Sections 78 and 79.
		In Schedule 8, paragraphs 1, 3(3) and 7.
		In Schedule 11, in paragraph 2(13)(d), the words “before 9th June 1989”.
1990 c. 1.	The Capital Allowances Act 1990.	Section 149(2).
		In section 161(10), the words “and of subsection (8)”.
1990 c. 19.	The National Health Service and Community Care Act 1990.	Section 61(2).