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Finance Act 1991 is up to date with all changes known to be in force on or before 11 September 2024. There are changes that may be brought into force at a future date.
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Part I CUSTOMS AND EXCISE, VALUE ADDED TAX AND CAR TAX
Part II INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
63. Relief for reimbursement expenditure under abandonment guarantees.
64. Relief for expenditure incurred by a participator in meeting defaulter’s abandonment expenditure.
65. Reimbursement by defaulter in respect of certain abandonment expenditure.
66. Restriction on setting ACT against liability to corporation tax on profits from oil extraction activities etc.
103. Allowance of certain expenditure relating to abandonment, decommissioning assets, etc.
105. Restriction of expenditure relief by reference to payments under abandonment guarantees.
106. Relief for reimbursement expenditure under abandonment guarantees.
107. Allowance of expenditure of participator meeting defaulter’s field abandonment expenditure.
108. Reimbursement by defaulter in respect of certain abandonment expenditure.
SCHEDULES
AMENDMENTS RELATING TO BEER DUTY
The Alcoholic Liquor Duties Act 1979 (c.4)
5.(1) Section 4(1) of that Act (definitions) shall be amended...
9.In section 42 of that Act (drawback on exportation, removal...
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14.For section 49 of that Act (power to regulate manufacture...
16.Section 50 of that Act (regulations as respects sugar kept...
17.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.Section 53 of that Act (limited licences to brew) shall...
19.Section 71A of that Act (restrictions on adding substances to...
20.Section 72 of that Act (offences by wholesaler or retailer...
MODIFICATION OF ENACTMENTS EXTENDED TO NORTHERN IRELAND
Part I THE VEHICLES (EXCISE) ACT 1971
Excise duty on, and licensing of, mechanically propelled vehicles
13.After section 28 (institution of proceedings in England and Wales)...
14.In section 31 (admissibility of records as evidence) at the...
15.In section 32 (evidence of admissions in certain proceedings) the...
16.In section 34 (fixing amount payable on pleas of guilty...
17.In section 35 (application of fines etc.) in subsection (2)...
RESTRICTION OF HIGHER RATE RELIEF: BENEFICIAL LOANS ETC
BASIC LIFE ASSURANCE AND GENERAL ANNUITY BUSINESS
Deduction for annuities referable to basic life assurance and general annuity business
United Kingdom branches of overseas life assurance companies
Life annuity contracts: taxation of gain on chargeable event
Exemptions and exclusions from charges by virtue of section 46
Transitional provisions for chargeable gains and unrelieved general annuity losses
PENSION BUSINESS: PAYMENTS ON ACCOUNT OF TAX CREDITS AND DEDUCTED TAX
BUILDING SOCIETIES: QUALIFYING SHARES
BUILDING SOCIETIES: MARKETABLE SECURITIES
RELIEF FOR COMPANY TRADING LOSSES
The Income and Corporation Taxes Act 1988 (c. 1)
4.In section 118 of that Act (restriction on relief: companies)—...
7.(1) In section 343 of that Act (company reconstructions without...
9.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.In section 397(2) of that Act (which excludes certain losses...
11.In section 399 of that Act (dealings in commodity futures...
12.In section 400 of that Act (write-off of government investment)...
14.(1) In section 407 of that Act (relationship between group...
15.In section 434 of that Act (insurance companies: franked investment...
16.In section 458 of that Act (capital redemption business) in...
17.In section 492 of that Act (treatment of oil extraction...
18.In section 503(1) of that Act (commercial letting of furnished...
19.(1) In section 518 of that Act (harbour reorganisation schemes)...
20.(1) After section 768 of that Act (change in ownership:...
21.In section 808 of that Act (restriction on deduction of...
22.In section 825 of that Act, in subsection (4) (restrictions...
24.In section 843 of that Act (commencement) in subsection (4)...
26.In Schedule 26 to that Act (reliefs against liability for...
27.(1) In Schedule 30 to that Act (transitional provisions and...
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Part V INCOME TAX AND CORPORATION TAX
1.The repeal of section 78(4) of the Taxes Management Act...
4.The following repeals have effect in relation to losses incurred...
5.The repeals of section 339A of the Income and Corporation...
6.The following repeals have effect for the year 1991-92 and...
9.The repeals of sections 737(4) and 738(2) of the Income...
12.The repeal of section 25(2)(h) of the Finance Act 1990...
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