Finance Act 2004

Chapter 8 U.K. Supplementary

Modifications etc. (not altering text)

C1 Pt. 4 modified (19.7.2011) by Finance Act 2011 (c. 11), Sch. 18 para. 14(3)

Interpretation U.K.

[F1 274A Power to split schemes U.K.

(1) The Board of Inland Revenue may make regulations for and in connection with treating registered pension schemes to which this section applies as if they were a number of separate registered pension schemes for such of the purposes of this Part and of provision made under it as are prescribed by the regulations.

(2) This section applies to pension schemes prescribed, or of a description prescribed, by the regulations.

(3) The provision that may be made by the regulations may, in particular, include—

(a) provision as to who is to be treated as the scheme administrator in relation to each of the separate pension schemes, and

(b) any such other modifications of the provision made by and under this Part as appears appropriate in consequence of, or otherwise in connection with, provision made under subsection (1) (including provision so made by virtue of paragraph (a) of this subsection).

(4) The regulations may make different provision for different cases.]

Textual Amendments

F1 S. 274A inserted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 50, 64(1)

275 Insurance company U.K.

(1) In this Part “insurance company” means—

(a) a person who has permission under Part 4 of FISMA 2000 to effect or carry out contracts of long-term insurance, or

(b) an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to FISMA 2000 (certain direct insurance undertakings) which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of long-term insurance.

(2) “Contracts of long-term insurance” means contracts which fall within Part 2 of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544).

Modifications etc. (not altering text)

C2 S. 275 modified (6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 11

276 Relevant valuation factor U.K.

(1) For the purposes of this Part the relevant valuation factor in relation to any registered pension scheme, or any arrangement under a registered pension scheme, is 20.

(2) But the Inland Revenue and the scheme administrator of any registered pension scheme may agree that the relevant valuation factor in relation to the pension scheme, or any arrangement under the pension scheme, is to be a number greater than 20.

Modifications etc. (not altering text)

C3 S. 276 modified (6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 12

277 Valuation assumptions U.K.

For the purposes of this Part the valuation assumptions in relation to a person, benefits and a date are—

(a) if the person has not reached such age (if any) as must have been reached to avoid any reduction in the benefits on account of age, that the person reached that age on the date, and

(b) that the person’s right to receive the benefits had not been occasioned by physical or mental impairment.

278 Market value U.K.

(1) For the purposes of this Part the market value of an asset held for the purposes of a pension scheme is to be determined in accordance with section 272 of TCGA 1992.

(2) Where an asset held for the purposes of a pension scheme is a right or interest in respect of any money lent (directly or indirectly) to any relevant associated person, the value of the asset is to be treated as being the amount owing (including any unpaid interest) on the money lent.

(3) The following are “relevant associated persons”—

(a) any employer who has at any time (whether or not before the making of the loan) made contributions under the pension scheme,

(b) any company connected (at the time of the making of the loan or subsequently) with any such employer,

(c) any person who has at any time (whether or not before the making of the loan) been a member of the pension scheme, and

(d) any person connected (at the time of the making of the loan or subsequently) with any such person.

[F2 (3A) For the purposes of this Part the market value of taxable property, or of an interest in taxable property, is to be determined in accordance with section 272 of TCGA 1992.

(3B) Subsection (3A) is subject to any provision made by regulations under paragraph 36(2) of Schedule 29A.]

[F3 (4) For the purposes of this section whether a person is connected with another person is determined in accordance with section 993 of ITA 2007.]

Textual Amendments

F2 S. 278(3A)(3B) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 158(2), Sch. 21 para. 11

F3 S. 278(4) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 479 (with Sch. 2)

279 Other definitions U.K.

(1) In this Part—

• [F4 “abatement”, in relation to a scheme pension [F5 to which a person has become entitled] under a public service pension scheme, means the reduction of the pension (including its reduction to nil) in accordance with the rules of the pension scheme by reason of [F6 the person's employment] in public service,]

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

• [F7 “consumer prices index” means—

  (a)

  the general index for consumer prices published by the Statistics Board, or

  (b)

  if that index is not published for a relevant month, any substituted index or index figures published by the Statistics Board,]

• F8 ...

• “employee” and “employer” have the same meaning as in the employment income Parts of ITEPA 2003 (see sections 4 and 5 of that Act) but include (respectively) a former employee and a former employer (and “employment” is to be read accordingly),

• “the Inland Revenue” means any officer of the Board of Inland Revenue,

• “normal minimum pension age” means—

  (a)

  before 6th April 2010, 50, and

  (b)

  on and after that date, 55,

• “pension credit” and “pension debit” have the same meaning as in Chapter 1 of Part 4 of WRPA (see section 46(1) of that Act) or Chapter 1 of Part 5 of WRP(NI)O 1999 (see Article 43(1) of that Order), [F9 and]

• “pension sharing order or provision” means any order or provision mentioned in section 28(1) of WRPA 1999 or Article 25(1) of WRP(NI)O 1999,

• [F7 “pensionable age” has the meaning given by the rules in paragraph 1 of Schedule 4 to the Pensions Act 1995 or paragraph 1 of Schedule 2 to the Pensions (Northern Ireland) Order 1995,]

• F10 ...

[F11 (1A) In this Part, so far as it forms part of the Corporation Tax Acts, expressions which are defined for the purposes of the Income Tax Acts are to be given the same meaning as they have in the Income Tax Acts.]

(2) In this Part references to payments made, or benefits provided, by a pension scheme are to payments made or benefits provided from sums or assets held for the purposes of the pension scheme.

(3) For the purposes of this Part the sums and assets held for the purposes of an arrangement under a pension scheme are so much of the sums and assets held for the purposes of the pension scheme under which the arrangement is made as are properly attributable, in accordance with the provisions of the pension scheme and any just and reasonable apportionment, to the arrangement.

Textual Amendments

F4 Words in s. 279(1) inserted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 9, 64(1)

F5 Words in s. 279(1) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 161(2), Sch. 23 para. 33(a)

F6 Words in s. 279(1) substituted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 161(2), Sch. 23 para. 33(b)

F7 Words in s. 279(1) inserted (with effect in accordance with Sch. 17 Pt. 2 of the amending Act) by Finance Act 2011 (c. 11), Sch. 17 para. 21

F8 Words in s. 279(1) repealed (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 480(2)(a), Sch. 3 Pt. 1 (with Sch. 2)

F9 Word in s. 279(1) inserted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 480(2)(b) (with Sch. 2)

F10 Words in s. 279(1) repealed (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 480(2)(c), Sch. 3 Pt. 1 (with Sch. 2)

F11 S. 279(1A) inserted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 480(3) (with Sch. 2)

Modifications etc. (not altering text)

C4 S. 279 modified (6.4.2006) by The Pensions Schemes (Application of UK Provisions to Relevant Non-UK Schemes) Regulations 2006 (S.I. 2006/207), regs. 1(1), 13

280 Abbreviations and general index U.K.

(1) In this Part—

• “NIA 1965” means the National Insurance Act 1965 (c. 51),

• “NIA(NI) 1966” means the National Insurance Act (Northern Ireland) 1966 (c. 6 (N.I.)),

• “TMA 1970” means the Taxes Management Act 1970 (c. 9),

• “ICTA 1970” means the Income and Corporation Taxes Act 1970 (c. 10),

• “ICTA” means the Income and Corporation Taxes Act 1988 (c. 1),

• “SSCBA 1992” means the Social Security Contributions and Benefits Act 1992 (c. 4),

• “SSCB(NI)A 1992” means the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7),

• “TCGA 1992” means the Taxation of Chargeable Gains Act 1992 (c. 12),

• “WRPA 1999” means the Welfare Reform and Pensions Act 1999 (c. 30),

• “WRP(NI)O 1999” means the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/ 3147 (N.I. 11)),

• “FISMA 2000” means the Financial Services and Markets Act 2000 (c. 8), F12 ...

• “ITEPA 2003” means the Income Tax (Earnings and Pensions) Act 2003 (c. 1), F13 ...

• [F14 “ITTOIA 2005” means the Income Tax (Trading and Other Income Act) 2005] F15 ...

• [F16 “ITA 2007” means the Income Tax Act 2007][F17 , and

• “CTA 2009” means the Corporation Tax Act 2009.]

(2) In this Part the following expressions are defined or otherwise explained by the provisions indicated—

[F18 abatement	section 279(1)]
accounting period	section 834(1) of ICTA
[F19 acquiring an interest in property (for the purposes of the taxable property provisions)	paragraphs 12 and 27 to 29 of Schedule 29A]
active member (of a pension scheme)	section 151(2)
active membership period (insections 221 to 223)	section 221(4) and (5)
[F20 additional rate	section 6(2) of ITA 2007 (as applied by section 989 of that Act)]
amount crystallised	section 216
annual allowance	section 228
annual allowance charge	section 227(1)
annuity protection lump sum death benefit	paragraph 16 of Schedule 29
arrangement	section 152(1)
authorised surplus payment	section 177
available (in relation to a person’s lifetime allowance)	section 219
basic rate	[F21 section 6(2) of ITA 2007 (as applied by section 989 of that Act)]
basic rate limit	[F22 section [F23 10] of ITA 2007 (as applied by section 989 of that Act)]
benefits (provided by pension scheme)	section 279(2)
benefit crystallisation event	section 216
the Board of Inland Revenue	section 279(1)
borrowing (in Chapter 3)	section 163
[F19 building (for the purposes of the taxable property provisions)	paragraph 7(2) of Schedule 29A]
cash balance arrangement	section 152(3)
cash balance benefits	section 152(5)
chargeable gain	[F24 section 989 of ITA 2007]
charity	[F25 section 989 of ITA 2007]
company	[F26 section 992 of ITA 2007]
compensation payment	section 178
[F27 consumer prices index	section 279(1)]
contribution	sections188(4) to (6) and 195
defined benefits	section 152(7)
defined benefits arrangement	section 152(6)
defined benefits lump sum death benefit	paragraph 13 of Schedule 29
F28 . . .	F28 . . .
[F29 dependants' annuity	paragraph 17 of Schedule 28]
dependants' scheme pension	paragraph 16 of Schedule 28
[F29 dependants' short-term annuity	paragraph 20 of Schedule 28]
F30 . . .	F30 . . .
[F31 dependant's drawdown pension fund	paragraph 22 of Schedule 28]
[F32 drawdown pension fund lump sum death benefit	paragraph 17 of Schedule 29]
employee and employer (and employment)	section 279(1)
employment income	section 7(2) of ITEPA 2003
enhanced lifetime allowance regulations	section 256(2)
entitled (in relation to a lump sum)	section 166(2)
entitled (in relation to a pension)	section 165(3)
higher rate	[F33 section 6(2) of ITA 2007 (as applied by section 989 of that Act)]
[F34 higher rate limit	section 10 of ITA 2007]
[F19 holding an interest in a person (for the purposes of the taxable property provisions)	paragraph 16(2) to (4) of Schedule 29A]
[F19 holding an interest in property (for the purposes of the taxable property provisions)	paragraph 13 of Schedule 29A]
[F19 holding directly an interest in a vehicle (for the purposes of the taxable property provisions)	paragraph 20(3) of Schedule 29A]
[F19 holding directly an interest in property (for the purposes of the taxable property provisions)	paragraphs 14 and 15 of Schedule 29A]
[F19 holding indirectly an interest in a vehicle (for the purposes of the taxable property provisions)	paragraph 20(4) of Schedule 29A]
[F19 holding indirectly an interest in property (for the purposes of the taxable property provisions)	paragraph 16(1) of Schedule 29A]
hybrid arrangement	section 152(8)
ill-health condition	paragraph 1 of Schedule 28
the individual (in sections 215 to 219)	section 214(5)
the Inland Revenue	section 279(1)
insurance company	section 275
[F19 investment-regulated pension scheme (for the purposes of the taxable property provisions)	paragraphs 1 to 3 of Schedule 29A]
investments (in relation to a pension scheme)	section186(3) and (4)
liability (in Chapter 3)	section 163
lifetime allowance (in relation to a person)	section 218
lifetime allowance charge	section 214(1)
lifetime allowance enhancement factors	section 218(5)
lifetime allowance excess lump sum	paragraph 11 of Schedule 29
lifetime annuity	paragraph 3 of Schedule 28
loan (in Chapter 3)	section 162
lump sum death benefit	section 168(2)
market value	section 278
member (of a pension scheme)	section 151(1)
F28 . . .	F28 . . .
[F31 member's drawdown pension fund	paragraph 8 of Schedule 28]
member’s unsecured pension fund	paragraph 8 of Schedule 28
money purchase arrangement	section 152(2)
money purchase benefits	section 152(4)
[F35 net income	section 23 of ITA 2007 (as applied by section 989 of that Act),]
net pay pension scheme	section 191(9)
normal minimum pension age	section 279(1)
occupational pension scheme	section 150(5)
overseas arrangement active membership period (in sections 224 to 226)	section 224(7) and (8)
overseas pension scheme	section 150(7)
payment (in Chapter 3)	section 161
payments (made by pension scheme)	section 279(2)
pension	section 165(2)
[F27 pensionable age	section 279(1)]
pension commencement lump sum	paragraph 1of Schedule 29
pension credit and pension debit	section 279(1)
[F36 pension death benefit	section 167(2)]
pension input amount	section 229
pension input period	section 238
pension protection lump sum death benefit	paragraph 14 of Schedule 29
pension scheme	section 150(1)
the pension scheme (in sections 215 to 219)	section 214(5)
pension sharing order or provision	section 279(1)
pensioner member (of a pension scheme)	section 151(3)
period of account	[F37 section 989 of ITA 2007]
personal representatives	[F38 section 989 of ITA 2007]
property investment LLP	[F39 section 1004 of ITA 2007]
public service pension scheme	section 150(3)
qualifying recognised overseas pension scheme	section 169(2)
recognised overseas pension scheme	section 150(8)
recognised overseas scheme arrangement (insections 224 to 226)	section 224(2) and (3)
registered pension scheme	section 150(2)
[F40 related dependants' annuity	paragraph 3(4A) of Schedule 29]
[F41 related dependants' scheme pension	paragraph 3(7C) of Schedule 29]
relevant overseas individual	section 221(3)
relevant UK earnings	section 189(2)
relevant UK individual	section 189
relevant valuation factor	section 276
relievable pension contributions	section 188(2) and (3)
[F19 residential property (for the purposes of the taxable property provisions)	paragraphs 7(1), 8 and 9 of Schedule 29A]
retail prices index	[F42 section 989 of ITA 2007]
scheme administrator	section 270 (but see also sections 271 to 274)
scheme chargeable payment	section 241
[F19 scheme-held taxable property	section 185B(3)]
scheme manager	section 169(3)
scheme pension	paragraph 2 of Schedule 28
scheme sanction charge	section 239(1)
serious ill-health lump sum	paragraph 4 of Schedule 29
[F43 serious ill-health lump sum charge	section 205A(1)]
short service refund lump sum	paragraph 5 of Schedule 29
short service refund lump sum charge	section 205(1)
[F29 short-term annuity	paragraph 6 of Schedule 28]
special lump sum death benefits charge	section 206(1)
sponsoring employer	section 150(6)
standard lifetime allowance	section 218(2) and (3)
sums and assets held for the purposes of an arrangement	section 279(3)
[F19 sums and assets held for the purposes of an arrangement (for the purposes of the taxable property provisions)	paragraph 5 of Schedule 29A]
[F19 taxable property (for the purposes of the taxable property provisions)	paragraphs 6, 10 and 11 of Schedule 29A]
[F19 the taxable property provisions	paragraph 1(3) of Schedule 29A]
tax year	[F44 section 4(2) of ITA 2007 (as applied by section 989 of that Act)]
the tax year 2006-07 etc.	[F45 section 4(4) of ITA 2007 (as applied by section 989 of that Act)]
total income	[F46 section 23 of ITA 2007 (as applied by section 989 of that Act)]
total pension input amount	section 229
F47 . . .	F47 . . .
trivial commutation lump sum	paragraph 7 of Schedule 29
unauthorised employer payment	section 160(4)
unauthorised member payment	section 160(2)
unauthorised payment	section 160(5)
unauthorised payments charge	section 208(1)
unauthorised payments surcharge	section 209(1)
uncrystallised funds lump sum death benefit	paragraph 15 of Schedule 29
F48 . . .	F48 . . .
valuation assumptions (in relation to a person)	section 277
[F19 vehicle (in the taxable property provisions)	paragraph 20(2) of Schedule 29A]
winding-up lump sum	paragraph 10 of Schedule 29
winding-up lump sum death benefit	paragraph 21 of Schedule 29

Textual Amendments

F12 Word in s. 280(1) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 652, Sch. 3 (with Sch. 2)

F13 Word in s. 280(1) repealed (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(2), Sch. 3 Pt. 1 (with Sch. 2)

F14 Words in s. 280(1) inserted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 652 (with Sch. 2)

F15 Word in s. 280(1) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 580(a), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F16 Words in s. 280(1) inserted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(2) (with Sch. 2)

F17 Words in s. 280(1) inserted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 580(b) (with Sch. 2 Pts. 1, 2)

F18 Words in s. 280(2) inserted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 10, 64(1)

F19 Words in s. 280(2) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 158(2), Sch. 21 para. 12

F20 Words in s. 280(2) inserted (with effect in accordance with s. 68(5) of the amending Act) by Finance Act 2010 (c. 13), s. 68(2)

F21 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(a) (with Sch. 2)

F22 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(b) (with Sch. 2)

F23 Word in s. 280(2) substituted (with effect in accordance with s. 68(6) of the amending Act) by Finance Act 2010 (c. 13), s. 68(3)

F24 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(c) (with Sch. 2)

F25 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(d) (with Sch. 2)

F26 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(e) (with Sch. 2)

F27 Words in s. 280(2) inserted (with effect in accordance with Sch. 17 Pt. 2 of the amending Act) by Finance Act 2011 (c. 11), Sch. 17 para. 22

F28 S. 280(2) entries omitted (with effect in accordance with Sch. 16 para. 85 of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 16 para. 77(2)

F29 Words in s. 280(2) inserted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 17, 64(1)

F30 S. 280(2) entries omitted (with effect in accordance with Sch. 16 para. 85 of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 16 para. 77(3)

F31 S. 280(2) entries inserted (with effect in accordance with Sch. 16 para. 85 of the amending Act) by Finance Act 2011 (c. 11), Sch. 16 para. 77(3)

F32 S. 280(2) entry inserted (with effect in accordance with Sch. 16 paras. 85, 103 of the amending Act) by Finance Act 2011 (c. 11), Sch. 16 para. 77(5)

F33 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(f) (with Sch. 2)

F34 Words in s. 280(2) inserted (with effect in accordance with s. 68(5) of the amending Act) by Finance Act 2010 (c. 13), s. 68(4)

F35 Words in s. 280(2) inserted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(g) (with Sch. 2)

F36 Words in s. 280(2) inserted (retrospective to 6.4.2006) by Finance Act 2007 (c. 11), Sch. 20 paras. 22(2), 24(3)

F37 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(h) (with Sch. 2)

F38 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(i) (with Sch. 2)

F39 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(j) (with Sch. 2)

F40 Words in s. 280(2) inserted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 33, 64(1)

F41 Words in s. 280(2) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 161(2), Sch. 23 para. 26

F42 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(k) (with Sch. 2)

F43 S. 280(2) entry inserted (with effect in accordance with Sch. 16 paras. 85, 102 of the amending Act) by Finance Act 2011 (c. 11), Sch. 16 para. 77(4)

F44 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(l) (with Sch. 2)

F45 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(m) (with Sch. 2)

F46 Words in s. 280(2) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 481(3)(n) (with Sch. 2)

F47 S. 280(2) entry repealed (19.7.2007) (with effect in accordance with Sch. 19 para. 29(3) of the amending Act) by Finance Act 2007 (c. 11), Sch. 19 para. 8, Sch. 27 Pt. 3(1)

F48 S. 280(2) entry omitted (with effect in accordance with Sch. 16 paras. 85, 103 of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 16 para. 77(5)

Other supplementary provisions U.K.

281 Minor and consequential amendments U.K.

(1) Schedule 35 contains minor and consequential amendments of enactments in consequence of, or otherwise in connection with, this Part.

(2) The Treasury may by order make such other amendments (including repeals and revocations) as may appear appropriate in consequence of, or otherwise in connection with, this Part—

(a) in any enactment contained in an Act passed before 6th April 2006 or in the Session in which that date falls, and

(b) in any instrument made before that date or in the Session in which that date falls.

[F49 (2A) The Treasury may by order make in any relevant enactment such amendments (including repeals and revocations) as may appear appropriate in consequence of, or otherwise in connection with, any amendment (or repeal or revocation) made in this Part by any enactment contained in an Act passed after this Act (an “amending Act”).

(2B) For this purpose a relevant enactment is—

(a) an enactment contained in an Act passed, or

(b) an instrument made,

before the passing of the amending Act or in the Session in which the amending Act is passed.]

(3) An order under subsection (2) [F50 or (2A)] may include any transitional provisions or savings appearing to the Treasury to be appropriate.

F51 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F49 S. 281(2A)(2B) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 161(2), Sch. 23 para. 34(2)

F50 Words in s. 281(3) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 161(2), Sch. 23 para. 34(3)

F51 S. 281(4) omitted (21.7.2009) by virtue of Finance Act 2009 (c. 10), s. 75(2)(b)

Commencement Information

I1 Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284

282 Orders and regulations U.K.

[F52 (A1) Any order or regulations made by the Treasury or the Commissioners for Her Majesty's Revenue and Customs under this Part may include provision having effect in relation to times before the order is, or regulations are, made if that provision does not increase any person's liability to tax.

(A2) Subsection (A1) does not limit any specific power to make provision by an order or regulations in relation to times before the order is, or regulations are, made.]

(1) Any power of the Treasury or the Board of Inland Revenue to make any order or regulations under this Part is exercisable by statutory instrument.

[F53 (1A) No order may be made under section 208(6), 209(7), 215(2A), [F54 237B(11),] 240(3A) or 242(5)[F55 , no order may be made under section 228(2) which specifies an amount for any tax year less than the annual allowance for the immediately preceding tax year and no order may be made under section 238A which increases any person's liability to tax] unless a draft of the statutory instrument containing it has been laid before, and approved by a resolution of, the House of Commons.]

(2) Any statutory instrument containing any order or regulations made by the Treasury or the Board of Inland Revenue under this Part [F56 , if made without a draft having been approved by a resolution of the House of Commons,] is subject to annulment in pursuance of a resolution of the House of Commons.

Textual Amendments

F52 S. 282(A1)(A2) inserted (21.7.2009) by Finance Act 2009 (c. 10), s. 75(1)

F53 S. 282(1A) inserted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 18(2)

F54 Word in s. 282(1A) substituted (with effect in accordance with Sch. 17 Pt. 2 of the amending Act) by Finance Act 2011 (c. 11), Sch. 17 para. 23(a)

F55 Words in s. 282(1A) inserted (with effect in accordance with Sch. 17 Pt. 2 of the amending Act) by Finance Act 2011 (c. 11), Sch. 17 para. 23(b)

F56 Words in s. 282(2) inserted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 18(3)

Modifications etc. (not altering text)

C5 S. 282 modified (with effect in accordance with Sch. 16 para. 85 of the amending Act) by Finance Act 2011 (c. 11), Sch. 16 para. 108(2)

283 Transitionals and savings U.K.

(1) Schedule 36 contains miscellaneous transitional provisions and savings.

(2) The Treasury may by order make any other transitional provision which may appear appropriate in consequence of, or otherwise in connection with, this Part or the repeals made by this Act in consequence of this Part.

(3) An order under subsection (2) may, in particular, include savings from the effect of any amendment made by this Part or any repeal made by this Act in consequence of this Part.

[F57 (3A) The Treasury may by order make any transitional provision which may appear appropriate in consequence of, or otherwise in connection with, any amendment (or repeal or revocation) made in this Part by any enactment contained in an Act passed after this Act (an “amending Act”).

(3B) An order under subsection (3A) may, in particular, include savings from the effect of any amendment (or repeal or revocation) made by the amending Act.

F58 (3C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(4) Nothing in Schedule 36 limits the power conferred by subsection (2) [F59 or (3A)].

(5) Nothing in that Schedule or in any provision made by virtue of subsection (2) [F60 or (3A)] prejudices the operation of sections 16 and 17 of the Interpretation Act 1978 (c. 30) (effect of repeals).

Textual Amendments

F57 S. 283(3A)-(3C) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 161(2), Sch. 23 para. 35(2)

F58 S. 283(3C) omitted (21.7.2009) by virtue of Finance Act 2009 (c. 10), s. 75(2)(c)

F59 Words in s. 283(4) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 161(2), Sch. 23 para. 35(3)

F60 Words in s. 283(5) inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 161(2), Sch. 23 para. 35(3)

284 Commencement U.K.

(1) Chapters 3 to 7 and section 281 (with Schedule 35) do not come into force until 6th April 2006.

(2) But any power to make an order or regulations under any of those provisions may be exercised at any time after this Act is passed.