Search Legislation

Finance Act 2004

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Part 3

 Help about opening options

Version Superseded: 01/04/2010

Alternative versions:

Status:

Point in time view as at 06/04/2007.

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2004, Part 3. Help about Changes to Legislation

Part 3U.K.Amendments of the Taxes Act 1988

IntroductoryU.K.

10U.K.The Taxes Act 1988 is amended in accordance with the following provisions of this Part.

Section 496: treatment of tax-exempt tariffing receipts for income and corporation taxU.K.

11(1)Section 496 (tariff receipts) is amended as follows.U.K.

(2)In subsection (1)(a) (tariff receipts to be treated as receipts of the separate trade referred to in section 492(1)) after “tariff receipt” insert “ or tax-exempt tariffing receipt ”.

(3)In subsection (2) (activities of participator etc giving rise to tariff receipts to be treated as oil extraction activities) after “tariff receipts” insert “ or tax-exempt tariffing receipts ”.

(4)In subsection (3) (disregard of certain sums in fact received or receivable by person connected with participator)—

(a)in the opening words, after “tariff receipt” insert “ or tax-exempt tariffing receipt ”;

(b)in paragraph (b), after “tariff receipt” insert “ or tax-exempt tariffing receipt ”.

(5)In consequence of the amendments made by this paragraph, the sidenote to the section becomes “ Tariff receipts and tax-exempt tariffing receipts ”.

Back to top

Options/Help