PART 1 Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER 3 Corporation tax: general
47.Lifetime allowance charge: power to amend the transitional provision in Part 2 of Schedule 18 to FA 2011 etc
48.Lifetime allowance charge: new standard lifetime allowance for the tax year 2014-15 and subsequent tax years
49.Annual allowance: new annual allowance for the tax year 2014-15 and subsequent tax years
52.Abolition of contracting out of state second pension: consequential amendments etc
54.Overseas pension schemes: information and inspection powers
PART 3 Annual tax on enveloped dwellings
PART 4 Excise duties and other taxes
PART 5 General anti-abuse rule
SCHEDULES
Annual investment allowance: periods straddling 1 January 2013 or 1 January 2015
Tax advantaged employee share schemes
PART 1 Retirement of participants
7.Part 6 of Schedule 3 (requirements etc relating to share...
9.In paragraph 30 (time for exercising options) in sub-paragraph (2)(a)—...
10.Omit paragraph 31 (requirement to have a “specified age”).
11.Omit paragraph 33 (exercise of options: reaching specified age without...
12.In paragraph 34 (exercise of options: scheme-related employment ends) in...
13.In Part 9 of Schedule 3 (supplementary provisions) in paragraph...
PART 2 “Good leavers” (other than retirees)
PART 3 Material interest rules
33.Part 3 of Schedule 2 (eligibility of individuals) is amended...
34.In paragraph 13 (introduction)— (a) after the entry for paragraph...
35.In paragraph 14 (time of eligibility to participate) in sub-paragraph...
36.Omit paragraphs 19 to 24 (the “no material interest” requirement)....
37.In Part 11 of Schedule 2 (supplementary provisions) in paragraph...
48.Omit paragraphs 30 to 33 (only certain kinds of restrictions...
50.In Part 6 of Schedule 2 (partnership shares) in paragraph...
51.In Part 7 of Schedule 2 (matching shares) in paragraph...
54.Part 11 of Schedule 2 (supplementary provision) is amended as...
55.In paragraph 92 (determination of market value) for sub-paragraph (2)...
56.In paragraph 99 (minor definitions) after sub-paragraph (3) insert—
57.In paragraph 100 (index of defined expressions) at the appropriate...
68.In Part 2 of Schedule 4 (general requirements for approval)...
70.In paragraph 15 (introduction)— (a) after the entry for paragraph...
71.Omit paragraph 19 (only certain kinds of restrictions allowed).
74.Part 8 of Schedule 4 (supplementary provisions) is amended as...
75.In paragraph 36 (minor definitions) after sub-paragraph (2) insert—
76.In paragraph 37 (index of defined expressions) at the appropriate...
77.(1) The amendment made by paragraph 68 above has effect...
PART 6 Share incentive plans: dividend shares
PART 7 Share incentive plans: employee share ownership trusts
PART 8 Enterprise management incentives: consequences of disqualifying events
Cash basis for small businesses
Eligibility to calculate profits on cash basis
2.Chapter 3 (trade profits: basic rules) is amended as follows....
3.In section 25(3) (exception to requirement to use generally accepted...
4.After section 25 insert— Cash basis for small businesses (1) A person who is or has been carrying on...
5.After Chapter 3 insert— CHAPTER 3A Trade profits: cash basis...
6.Chapter 4 (trade profits: rules restricting deductions) is amended as...
7.After section 32 insert— Cash basis accounting Application of Chapter...
8.After section 33 insert— Cash basis: capital expenditure (1) In calculating the profits of a trade on the...
9.In section 38 (restriction of deductions in respect of employee...
10.Before section 52 (and after the heading “Interest payments”) insert—...
11.(1) Section 55A (expenditure on integral features) is amended as...
12.Chapter 5 (trade profits: rules allowing deductions) is amended as...
13.After section 56 insert— Cash basis accounting Application of Chapter...
14.After section 57A insert— Cash basis: interest payments Cash basis:...
15.In section 58 (incidental costs of obtaining finance), in subsection...
16.In section 72 (payroll deduction schemes: contributions to agents' expenses),...
17.In section 94A (costs of setting up SAYE option scheme...
18.Chapter 6 (trade profits: receipts) is amended as follows.
19.After section 95 insert— Cash basis accounting Application of Chapter...
20.After section 96 insert— Cash basis: capital receipts (1) This section applies if— (a) the whole or part...
21.After section 97 insert— Cash basis: value of stock and...
22.(1) Section 105 (industrial development grants) is amended as follows....
Deductions allowable at a fixed rate
2.After Chapter 5 insert— CHAPTER 5A Trade profits: deductions allowable...
3.In section 31 (relationship between rules prohibiting and allowing deductions),...
4.In Chapter 18 (post-cessation receipts), in section 254 (allowable deductions),...
5.(1) Part 2 of CAA 2001 (plant and machinery allowances)...
6.The amendments made by this Schedule have effect for the...
Remittance basis: exempt property
2.In section 809X(3) (exempt property: public access rule), for “sections...
3.(1) Section 809Y (property that ceases to be exempt property...
4.After section 809YE insert— Exception to section 809Y: compensation taken...
5.(1) Section 809Z (public access rule: general) is amended as...
6.Omit section 809Z1 (public access rule: relevant VAT relief).
7.(1) Section 809Z4 (temporary importation rule) is amended as follows....
8.In section 809Z6 (exempt property: other interpretation), after subsection (4)...
9.The amendments made by paragraphs 3, 4, 5(4), 7(2), (3)(b)...
11.In the case of property that falls within paragraph 10(b)...
Gains from contracts for life insurance etc
2.In section 476 (special rules: foreign policies) in subsection (2)—...
3.For section 528 substitute— Reduction in amount charged on basis...
5.(1) Section 536 (top slicing relieved liability: one chargeable event)...
6.In section 552 of ICTA (information: duty of insurers) after...
7.(1) The amendments made by this Schedule have effect in...
PART 1 Amendments of Schedule 15 to ICTA etc
1.Schedule 15 to ICTA (qualifying insurance policies) is amended as...
2.Before Part 1 insert— PART A1 Premium limit for qualifying...
3.At the beginning of Part 1 (qualifying conditions) insert— RULES...
5.In paragraph 25 (application of paragraph 17 in cases involving...
6.(1) In section 55 of FA 1995 (qualifying life insurance...
PART 2 New exemption for genuine transactions etc
2.(1) Section 718 (meaning of “person abroad” etc) is amended...
6.(1) Section 736 (exemptions: introduction) is amended as follows.
7.After section 742 insert— Post-5 April 2012 transactions: exemption for...
8.In section 751 (the Tribunal's jurisdiction on appeals) after paragraph...
9.(1) The amendments made by paragraph 2 above have effect...
PART 3 Amendments relating to the charges under sections 720 and 727
10.(1) Section 721 (individuals with power to enjoy income as...
11.(1) Section 724 (special rules where benefit provided out of...
12.(1) Section 725 (reduction in amount charged where controlled foreign...
13.In section 726 (non-UK domiciled individuals to whom remittance basis...
14.(1) Section 728 (individuals receiving capital sums as a result...
15.In section 730 (non-UK domiciled individuals to whom remittance basis...
16.(1) Section 743 (no duplication of charges) is amended as...
17.(1) Section 744 (meaning of taking income into account in...
18.(1) Section 745 (rates of tax applicable to income charged...
19.In section 746 (deductions and reliefs where individual charged under...
6.In section 37 (consideration chargeable to tax on income), after...
7.In section 39 (exclusion of expenditure by reference to tax...
8.Omit sections 148A to 148C (provision dealing with the capital...
9.(1) Section 263A (agreements for sale and repurchase of securities)...
10.After section 263A insert— Section 263A: interpretation (1) Subsections (2) to (7) apply for the purposes of...
11.(1) Section 263F (power to modify repo provisions: non-standard repo...
12.In section 263G (power to modify repo provisions: redemption arrangements)—...
PART 3 Abolition of certain relief under Part 13 of CTA 2009
Amendments of Part 13 of CTA 2009
12.Part 13 of CTA 2009 (additional relief for expenditure on...
13.(1) Section 1039 (overview of Part) is amended as follows....
14.Omit Chapter 3 (relief for SMEs: R&D sub-contracted to SME)....
15.Omit Chapter 4 (relief for SMEs: subsidised and capped expenditure...
17.(1) Section 1081 (insurance companies treated as large companies) is...
19.Omit section 1083 (refunds of expenditure treated as income chargeable...
20.(1) Section 1084 (artificially inflated claims for relief or tax...
21.In section 1119 (meaning of “small or medium-sized enterprise”), in...
22.In section 1133 (meaning of “sub-contractor” etc), in subsection (3),...
Television and video games tax relief: consequential amendments
10.In Part 13 of CTA 2009 (additional relief for expenditure...
12.In section 1195 (availability and overview of film tax relief),...
13.(1) Section 1206 (confidentiality of information) is amended as follows....
14.(1) In section 1310 of CTA 2009 (orders and regulations),...
15.(1) Schedule 4 to CTA 2009 (index of defined expressions)...
17.Part 8A of CTA 2010 (profits arising from the exploitation...
18.(1) Section 357CG (adjustments in calculating profits of trade) is...
19.After section 357CH insert— Shortfall in qualifying expenditure (1) There is a shortfall in qualifying expenditure in relation...
20.(1) Section 357CK (deductions that are not routine deductions) is...
Real estate investment trusts: UK REITs which invest in other UK REITs
2.(1) Section 530 (condition as to distribution of profits) is...
3.(1) Section 530A (condition as to distribution of profits: increase...
4.(1) Section 531 (conditions as to balance of business) is...
5.(1) Section 548 (distributions: liability to tax) is amended as...
6.(1) Section 549 (distributions: supplementary) is amended as follows.
7.After section 549 insert— Distributions from one UK REIT to...
8.In section 550 (attribution of distributions) in subsection (2)—
9.In section 588 (joint ventures: effect of notice under section...
10.In section 589 (joint ventures: effect of notice under section...
11.In section 605 (property rental business: exclusion of business producing...
13.(1) The amendments made by paragraph 4(3) to (5) above...
2.In section 1(4) (overview of Act), after paragraph (j) insert—...
3.After Part 21B insert— PART 21BA Tax mismatch schemes Losses...
4.In Schedule 4 (index of defined expressions), at the appropriate...
5.In section 231(8) of TIOPA 2010 (tax arbitrage: overview), for...
6.(1) The amendments made by this Schedule have effect in...
Community amateur sports clubs
Transitional provision relating to reduction in standard lifetime allowance etc
PART 1 Income tax treatment of employee shareholder shares
1.ITEPA 2003 is amended in accordance with paragraphs 2 to...
2.In section 19(2) (time of receipt of non-money earnings), at...
5.In section 428 (restricted securities: amount of charge on occurrence...
6.In section 431 (election for full or partial disapplication of...
7.In section 437 (convertible securities: adjustment of charge), in subsection...
8.In section 446B (charge on acquisition of securities with artificially...
9.In section 446T (securities acquired for less than market value:...
11.In section 452 (shares in research institution spin-out companies: market...
12.In section 479 (securities options: amount of gain realised on...
13.In section 531 (enterprise management incentives: limitation of charge where...
14.(1) Section 532 (enterprise management incentives: consequences after disqualifying events)...
15.In section 554N (exclusions: other cases involving employment-related securities etc),...
PART 2 Capital gains tax exemption for employee shareholder shares
22.In section 1005 (definitions), at the appropriate place insert— “employee...
23.(1) Section 1009 (relief for employee share acquisitions: employee's tax...
24.In section 1010(1) (acquisition of shares: relief if shares neither...
25.(1) Section 1011 (acquisition of shares: relief if shares are...
26.In section 1018(1) (acquisition of shares pursuant to option: relief...
27.In section 1019(1) (acquisition of shares pursuant to option: relief...
28.In section 1022 (takeover of company whose shares are subject...
29.In section 1026 (restricted shares: relief available on chargeable event),...
30.In section 1027 (restricted shares: relief available on death of...
31.In section 1033 (convertible securities: relief available on chargeable event),...
32.In section 1034 (convertible securities: relief available following death of...
34.In section 1292 (provision of qualifying benefits), after subsection (6)...
35.In section 1293 (timing and amount of certain qualifying benefits),...
36.In Schedule 4 (index of definitions), at the appropriate place...
Charge on certain high value disposals by companies etc
PART 1 Taxation of Chargeable Gains Act 1992
3.In section 2 (persons and gains chargeable to capital gains...
4.After section 2 insert— Persons chargeable to capital gains tax...
5.In section 4 (rates of capital gains tax), after subsection...
6.In section 8 (company's total profits to include chargeable gains),...
7.In section 13 (attribution of gains to members of non-resident...
8.In section 16 (computation of losses), in subsection (3) after...
9.In Part 2, after Chapter 4 insert— CHAPTER 5 Computation...
10.After section 100 insert— Exemption for certain EEA UCITS (1) ATED-related gains accruing on relevant high value disposals made...
11.(1) Section 161 (appropriations to and from stock) is amended...
12.In section 171 (transfers within a group: general provisions), in...
13.After section 187 insert— Deemed disposal under section 185: ATED-related...
14.In section 271 (miscellaneous exemptions)— (a) in subsection (1A), after...
15.In section 288 (interpretation), in subsection (1), at the appropriate...
16.After Schedule 4 insert— SCHEDULE 4ZZA relevant high value disposals:...
17.In Schedule 7A (restriction on set-off of pre-entry losses), after...
Restrictions on buying capital allowances
Extension of restrictions to other qualifying activities
5.(1) Section 212B (circumstances where Chapter 16A applies) is amended...
7.(1) Section 212I (relevant percentage share) is amended as follows....
8.In section 212J(1) (relevant excess of allowances) for “trade” substitute...
9.In section 212K(2), (3), (4) and (5) (relevant tax written-down...
10.In section 212N(2), (3) and (4) (old and new accounting...
11.(1) Section 212P (effect of excess on pools) is amended...
12.(1) Section 212Q (when there are postponed capital allowances) is...
Community investment tax relief
Income tax: carry forward of relief
1.Part 7 of ITA 2007 (community investment tax relief) is...
3.After section 335 insert— Carry forward of CITR (1) This section applies if— (a) the investor is entitled...
4.In section 357 (attribution of CITR) after subsection (4) insert—...
5.(1) Section 361 (disposal of securities or shares during 5...
Corporation tax: carry forward of relief
7.Part 7 of CTA 2010 (community investment tax relief) is...
9.After section 220 insert— Carry forward of CITR (1) This section applies if— (a) the investor is entitled...
10.In section 240 (attribution of CITR) after subsection (4) insert—...
11.(1) Section 244 (disposal of securities or shares during 5...
PART 3 Consequential etc amendments
5.In section 263B (stock lending arrangements), for subsection (7) substitute—...
6.Omit section 263D (gains accruing to persons paying manufactured dividends)....
7.In section 263F (power to modify repo provisions: non-standard repo...
8.In section 263G (power to modify repo provisions: redemption arrangements)—...
9.In section 263H (sections 263F and 263G: supplementary provisions), in...
10.(1) Section 263I (powers about manufactured overseas dividend) is amended...
17.In section 2 (overview of Act)— (a) omit subsection (11),...
18.Omit the following provisions (which deal with manufactured payments and...
19.In section 647 (makers of manufactured payments), for subsection (6)...
20.In section 658 (powers to modify: supplementary), for subsection (5)...
21.In section 918(1) (manufactured dividends on UK shares: REITs), for...
23.Omit section 920 (foreign payers of manufactured interest: the reverse...
24.In section 921 (cases where interest on underlying securities paid...
25.Omit sections 922 to 925 (manufactured overseas dividends).
26.In section 925A(2) (creditor repos), for “to 925” substitute “...
28.In section 925C (actual payments ignored)— (a) in the heading,...
29.In section 926 (interpretation of Chapter 9 of Part 15),...
30.In Schedule 1 (minor and consequential amendments), omit paragraph 335(1)...
31.In Schedule 2 (transitionals and savings), omit paragraphs 108 to...
32.In Schedule 4 (index of defined expressions), omit the entries...
35.In section 539 (introduction to Chapter about manufactured interest), omit...
36.In section 540(3) (manufactured interest treated as interest under loan...
37.In section 550 (which makes provision about the effect of...
38.In section 1221(1) (amounts treated as expenses of management), for...
39.In section 1248 (expenses in connection with arrangements for securing...
Restrictions on allowances for certain oil-related expenditure
PART 1 Decommissioning expenditure
2.After section 165 insert— Restrictions on allowances: anti-avoidance Decommissioning services...
4.In section 57(3), after the reference to section 70DA insert—...
5.In section 161C(3), for “and 164(4)” substitute “ , 164(4)...
7.After section 165(3) insert— (3A) Subsection (3) is subject to...
8.The amendments made by this Part have effect in relation...
Annual tax on enveloped dwellings: returns, enquiries, assessments and appeals
PART 4 HMRC determination where no return delivered
PART 6 Relief in case of overpaid tax or excessive assessment
Annual tax on enveloped dwellings: information and enforcement
PART 1 Information and inspection powers
1.Schedule 36 to FA 2008 (information and inspection powers) is...
2.In paragraph 12A (powers to inspect property for valuation etc),...
3.After paragraph 21A insert— Annual tax on enveloped dwellings: taxpayer...
4.In paragraph 37 (partnerships), after sub-paragraph (2A) insert—
5.In paragraph 63(1) (meaning of “tax” in the Schedule), after...
Annual tax on enveloped dwellings: miscellaneous amendments and transitory provision
Treatment of liabilities for inheritance tax purposes
Valuation of certain supplies of fuel
Stamp duty land tax: transactions entered into before completion of contract
2.For section 45 (contract and conveyance: effect of transfer of...
3.After Schedule 2 insert— SCHEDULE 2A Transactions entered into before...
4.In section 57A (sale and leaseback arrangements), in subsection (3)(c)—...
5.In section 77 (notifiable transactions), in subsection (1)—
7.In section 119 (meaning of “effective date” of a transaction),...
8.In section 121 (index of defined expressions), in the entry...
9.In Schedule 6B (transfers involving multiple dwellings), in paragraph 7(6),...
10.In paragraph 12B of Schedule 17A (assignment of agreement for...
11.The amendments made by this Schedule have effect in relation...
Stamp duty land tax: relief from 15% rate
Minor and consequential amendments
3.(1) Section 81 (further return where relief withdrawn) is amended...
4.After section 81 insert— Alternative finance arrangements: return where relief...
5.In section 85 (liability for tax), after subsection (2) insert—...
6.In section 86 (payment of tax), after subsection (2) insert—...
7.In the table in section 122 (index of defined expressions),...
Transactions to which section 29 of the Scotland Act 2012 applies
Leases that continue after a fixed term
2.(1) In Schedule 17A (further provisions about leases), paragraph 3...
3.After that paragraph insert— (1) This paragraph applies where— (a) (ignoring this paragraph) paragraph...
4.In section 87 (interest on unpaid tax), in subsection (3)—...
5.In section 119 (meaning of “effective date” of a transaction),...
Climate change levy: supplies subject to carbon price support rates etc
PART 2 New provision having effect from 1 April 2013
3.In paragraph 4 (definition of “taxable supply”) in sub-paragraph (2)(b)...
4.In paragraph 5 (supplies of electricity) after sub-paragraph (2) insert—...
5.In paragraph 6 (supplies of gas) in sub-paragraph (2A) after...
6.(1) Paragraph 14 (exemption for supplies to electricity producers) is...
7.In paragraph 15 (exemption for supplies to combined heat and...
8.(1) Paragraph 17 (exemption: self-supplies by electricity producers) is amended...
9.In paragraph 21 (regulations to avoid double charges to levy)...
10.In Part 2 after paragraph 24 insert— Deemed taxable supply:...
11.After paragraph 38 insert— Deemed supplies under paragraph 24A, 24B,...
12.(1) Paragraph 39 (regulations as to time of supply) is...
13.In paragraph 42 (amount payable by way of levy) before...
14.After paragraph 42 insert— (1) This paragraph applies to a deemed supply under paragraph...
15.In paragraph 55 (notification of registrability) in sub-paragraph (1) after...
16.In paragraph 62 (tax credits) in sub-paragraph (1) after paragraph...
18.In paragraph 147 (definitions)— (a) at the appropriate places, insert—...
19.After paragraph 152 insert— Meaning of “exempt unlicensed electricity supplier”...
20.(1) Regulation 5 of the Climate Change Levy (Electricity and...
General anti-abuse rule: procedural requirements
Notice to taxpayer of proposed counteraction of tax advantage
Notice of final decision after considering opinion of GAAR Advisory Panel
Notices may be given on assumption that tax advantage does arise
Trusts with vulnerable beneficiary
2.(1) Section 71A (trusts for bereaved minors) is amended as...
4.(1) Section 71D (age 18-to-25 trusts) is amended as follows....
6.(1) Section 89 (trusts for disabled persons) is amended as...
7.(1) Section 89A (self-settlement by person with condition expected to...
8.(1) Section 89B (meaning of “disabled person's interest”) is amended...
10.(1) In section 89B (meaning of “disabled person's interest”), in...
Case 2: the partner of someone starting full-time work overseas
Case 7: the partner of someone ceasing full-time work overseas
Special charging rules for employment income
59.In section 22 (chargeable overseas earnings for year when remittance...
60.(1) Section 23 (calculation of “chargeable overseas earnings”) is amended...
61.(1) Section 24 (limit on chargeable overseas earnings where duties...
62.(1) Section 26 (foreign earnings for year when remittance basis...
63.In section 232 (giving effect to mileage allowance relief), after...
64.(1) Section 329 (deduction from earnings not to exceed earnings)...
65.(1) Section 394 (charge on employer-financed retirement benefits) is amended...
66.(1) Section 421E (income relating to securities: exclusions about residence...
68.(1) Section 554Z4 (residence issues) is amended as follows.
69.In section 554Z6 (overlap with certain earnings), in subsection (1)(a),...
70.In section 554Z9 (remittance basis: A is ordinarily UK resident),...
71.(1) Section 554Z10 (remittance basis: A is not ordinarily resident)...
Special charging rules for trading income
75.In section 6 (territorial scope of charge to tax), after...
77.In section 243 (post-cessation receipts: extent of charge to tax),...
78.In section 849 (calculation of firm's profits or losses), after...
79.(1) Section 852 (carrying on by partner of notional trade)...
80.(1) Section 854 (carrying on by partner of notional business)...
Special charging rules for savings and investment income
82.Part 4 of ITTOIA 2005 (savings and investment income) is...
83.In section 368 (territorial scope of charges in respect of...
85.In section 467 (person liable: UK resident trustees), in subsection...
86.(1) Section 528 (reduction in amount charged under Chapter 9...
87.(1) Section 528A (reduction in amount charged on basis of...
88.(1) Section 536 (top slicing relieved liability: one chargeable event)...
Special charging rules for relevant foreign income charged on remittance basis
Special charging rules for capital gains
93.(1) Section 2 (persons and gains chargeable to capital gains...
95.(1) Section 12 (non-UK domiciled individuals to whom remittance basis...
96.In section 13 (attribution of gains to members of non-resident...
97.In section 16 (computation of losses), after subsection (3) insert—...
98.In section 16ZB (individual who has made election under section...
99.(1) Section 16ZC (individual who has made election under section...
100.In section 86 (attribution of gains to settlors with interest...
101.In section 87 (non-UK resident settlements: attribution of gains to...
Consequential amendments: income tax
116.In ITEPA 2003, for section 576A substitute— Temporary non-residents (1) This section applies if a person is temporarily non-resident....
117.In ITEPA 2003, for section 579CA substitute— Temporary non-residents (1) This section applies if a person is temporarily non-resident....
118.In ITTOIA 2005, for section 832A substitute— Section 832: temporary...
Consequential amendments: capital gains tax
119.In TCGA 1992, for section 10A substitute— Temporary non-residents (1) This section applies if an individual (“the taxpayer”) is...
120.For section 86A of TCGA 1992 substitute— Attribution of gains...
121.In section 96 (payment by and to companies), in subsection...
122.(1) Section 279B (deferred unascertainable consideration: supplementary provisions) is amended...
123.(1) Schedule 4C (transfers of value: attribution of gains to...
New special rule: lump sum payments under pension schemes etc
125.In Chapter 2 of Part 6 (employer-financed retirement benefits), after...
126.In Chapter 2 of Part 7A (employment income provided through...
127.In that Chapter, after section 554Z11 insert— Temporary non-residents (1) This section applies if A is temporarily non-resident.
128.In that Chapter, in section 554Z12 (relevant step taken after...
129.In Chapter 3 of Part 9 (United Kingdom pensions: general...
New special rule: distributions to participators in close companies etc
131.Part 4 of ITTOIA 2005 (savings and investment income) is...
132.In Chapter 1 (introduction), after section 368 insert— Interpretation of...
133.In Chapter 3 (dividends etc from UK resident companies and...
134.In Chapter 4 (dividends from non-UK resident companies), after section...
135.In Chapter 5 (stock dividends from UK resident companies), after...
136.In Chapter 6 (release of loan to participator in close...
New special rule: chargeable event gains
140.After section 465A insert— Temporary non-residents (1) This section applies if an individual is temporarily non-resident....
141.In section 468 (non-UK resident trustees and foreign institutions), after...
142.In section 514 (chargeable events where transaction-related calculations show gains),...
143.In section 541 (calculation of deficiencies), in subsection (4)(b), after...
144.In section 552 of ICTA (information: duties of insurers), in...
PART 1 Income tax and capital gains tax: remittance basis of taxation
Treatment of relevant foreign earnings
7.(1) In section 22 (chargeable overseas earnings for year when...
8.In section 23 (calculation of “chargeable overseas earnings”), in subsection...
9.(1) In section 26 (foreign earnings for year when remittance...
10.After that section insert— Section 26: requirement for 3-year period...
11.(1) Section 41C (foreign securities income) is amended as follows....
12.In section 271 (limited exemption of removal benefits and expenses:...
13.(1) In section 554Z9 (remittance basis: A is ordinarily UK...
14.(1) In section 554Z10 (remittance basis: A is not ordinarily...
15.(1) Section 690 (employee non-resident etc) is amended as follows....
16.In section 266A of ICTA (life assurance premiums paid by...
17.In section 12 of TCGA 1992 (non-UK domiciled individuals to...
18.In section 87B of that Act (section 87: remittance basis),...
19.In section 726 of ITA 2007 (non-UK domiciled individuals to...
20.In section 730 of that Act (non-UK domiciled individuals to...
21.In section 735 of that Act (non-UK domiciled individuals to...
23.In section 809YD of that Act (chargeable gains accruing on...
24.In section 809Z7 of that Act (meaning of “foreign income...
PART 2 Income tax: arising basis of taxation
30.In section 56 (application of Income Tax Acts in relation...
31.In section 61G (application of Income Tax Acts in relation...
32.In section 328 (the income from which deductions may be...
34.In section 342 (travel between employments where duties performed abroad),...
35.In section 370 (travel costs where duties performed abroad: employee's...
36.In section 376 (foreign accommodation and subsistence costs and expenses...
37.(1) Section 378 (deductions from seafarers' earnings: eligibility) is amended...
38.(1) Section 413 (exception in certain cases of foreign service)...
39.(1) In section 681A (foreign benefits of consular employees), for...
40.(1) In Schedule 2 (approved share incentive plans), in paragraph...
41.(1) In Schedule 3 (approved SAYE option schemes), in paragraph...
42.In Schedule 5 (enterprise management incentives), in paragraph 27(3)(b), omit...
44.In section 154A (certain non-UK residents with interest on 3½%...
45.In section 459 (transfer of assets abroad), in subsection (2),...
46.In section 468 (non-UK resident trustees and foreign institutions), for...
47.In section 569 (anti-avoidance: transfer of assets abroad), in subsection...
48.(1) In section 636 (calculation of undistributed income), in subsection...
49.In section 648 (income arising under a settlement), in subsection...
50.In section 651 (meaning of “UK estate” and “foreign estate”),...
51.In section 664 (the aggregate income of the estate), in...
52.(1) Section 715 (interest from FOTRA securities held on trust)...
53.(1) In section 771 (relevant foreign income of consular officers...
55.In section 465 (overview of Chapter 2 and interpretation), in...
56.(1) Section 475 (residence of trustees) is amended as follows....
57.(1) Section 476 (how to work out whether settlor meets...
58.In section 643 (non-residents), in subsection (1), omit “and is...
59.In section 718 (meaning of “person abroad” etc), in subsection...
61.(1) Section 721 (individuals with power to enjoy income as...
63.(1) Section 728 (individuals receiving capital sums as a result...
64.In section 732 (non-transferors receiving benefit as a result of...
65.(1) In section 749 (restrictions on particulars to be provided...
66.In section 812 (case where limit on liability of non-UK...
67.(1) In section 834 (residence of personal representatives), in subsection...
68.(1) In section 858 (declarations of non-UK residence: individuals)—
69.(1) In section 859 (declarations of non-UK residence: Scottish partnerships)—...
70.(1) In section 860 (declarations of non-UK residence: personal representatives),...
71.(1) Section 861 (declarations of non-UK residence: settlements) is amended...
PART 3 Capital gains tax: accruals basis of taxation
75.(1) Section 2 (persons and gains chargeable to capital gains...
76.In section 10 (non-resident with United Kingdom branch or agency),...
77.(1) Section 13 (attribution of gains to members of non-resident...
78.In section 16 (computation of losses), in subsection (3), for...
79.In section 62 (death: general provisions), in subsection (3), omit...
80.In section 65 (liability for tax of trustees or personal...
81.In section 67 (provisions applicable where section 79 of the...
82.(1) Section 69 (trustees of settlements) is amended as follows....
83.In section 76 (disposal of interests in settled property), in...
84.In section 80 (trustees ceasing to be resident in UK),...
85.(1) Section 81 (death of trustee: special rules) is amended...
86.In section 82 (past trustees: liability for tax), in subsection...
88.(1) Section 83A (trustees both resident and non-resident in a...
89.In section 84 (acquisition by dual resident trustees), in subsection...
90.In section 85 (disposal of interests in non-resident settlements), in...
91.(1) Section 86 (attribution of gains to settlors with interest...
92.(1) Section 87 (non-UK resident settlements: attribution of gains to...
94.(1) Section 96 (payments by and to companies) is amended...
95.In section 97 (supplementary provisions), in subsection (1)(a), for “neither...
96.In section 99 (application of Act to unit trust schemes),...
97.In section 106A(5A) (identification of securities: capital gains tax)—
98.(1) Section 159 (non-residents: roll-over relief) is amended as follows....
99.(1) Section 166 (gifts to non-residents) is amended as follows....
100.(1) Section 167 (gifts to foreign-controlled companies) is amended as...
101.(1) Section 168 (emigration of donee) is amended as follows....
102.In section 169 (gifts into dual resident trusts), in subsection...
103.In section 199 (exploration or exploitation assets: deemed disposals), in...
104.(1) Section 261 (section 260 relief: gifts to non-residents) is...
105.In Schedule 1 (application of exempt amount and reporting limits...
106.(1) Schedule 4A (disposal of interest in settled property: deemed...
107.(1) Schedule 4C (transfers of value: attribution of gains to...
108.(1) Schedule 5 (attribution of gains to settlors with interest...
109.(1) Schedule 5A (settlements with foreign element: information) is amended...
110.(1) Schedule 5B (enterprise investment scheme: re-investment) is amended as...
111.In Schedule 7C (reliefs for transfers to approved share plans),...
120.In section 185G (disposal by person holding directly), in subsection...
121.In section 205 (short service refund lump sum charge), in...
122.In section 205A (serious ill-health lump sum charge), in subsection...
123.In section 206 (special lump sum death benefits charge), in...
124.In section 207 (authorised surplus payments charge), in subsection (3),...
125.In section 208 (unauthorised payments charge), in subsection (4), omit...
126.In section 209 (unauthorised payments surcharge), in subsection (5), omit...
127.In section 217 (persons liable to lifetime allowance charge), in...
128.In section 237A (liability of individual to annual allowance charge),...
129.In section 237B (liability of scheme administrator), in subsection (8),...
130.In section 239 (scheme sanction charge), in subsection (4), omit...
131.In section 242 (de-registration charge), in subsection (3), omit “,...
138.(1) In section 900 (which relates to roll-over relief for...
139.(1) In section 936 (meaning of “UK estate” and “foreign...
140.(1) In section 947 (aggregate income of the estate), in...
141.(1) In section 1009 (conditions relating to employee's income tax...
142.(1) In section 1017 (condition relating to employee's income tax...
143.(1) In section 1025 (additional relief available if shares acquired...
144.(1) In section 1032 (meaning of “chargeable event”), in subsection...
1.Part 9A of TIOPA 2010 (controlled foreign companies) is amended...
2.Chapter 5 (the CFC charge gateway: non-trading finance profits) is...
3.In section 371ED (arrangements in lieu of dividends) in subsection...
4.(1) Section 371EE (leases to UK resident companies etc) is...
5.Chapter 22 (supplementary provision) is amended as follows.
6.In section 371VA (definitions) for the definition of “relevant finance...
7.(1) Section 371VG (finance profits) is amended as follows.
8.(1) Section 371VH (interests in companies) is amended as follows....
9.After section 371VI insert— Relevant finance leases (1) In this Part “relevant finance lease” means an arrangement...
Limit on double taxation relief in cases involving qualifying loan relationships of CFCs
10.Part 2 of TIOPA 2010 (double taxation relief) is amended...
11.Chapter 2 (double taxation relief by way of credit) is...
12.In section 42 (limit on credit against corporation tax) after...
13.After section 49 insert— Limit on credit in cases involving...
14.(1) In Chapter 3 (miscellaneous provisions), section 112 (deduction from...
16.Part 9A of TIOPA 2010 (controlled foreign companies) is amended...
17.In Chapter 3 (the CFC charge gateway: determining which (if...
18.Chapter 9 (exemptions for profits from qualifying loan relationships) is...
19.In section 371IB (loans funded out of qualifying resources) after...
20.(1) Section 371IE (matched interest) is amended as follows.
Proceeds of crime: powers of officers of Revenue and Customs
1.The Proceeds of Crime Act 2002 is amended in accordance...
4.In section 291(2) (report on exercise of powers), for “customs...
5.In section 292 (code of practice)— (a) in subsection (1),...
6.(1) Section 294 (seizure of cash) is amended as follows....
7.In section 295(1) (detention of seized cash), for “customs officer”...
8.In section 296(2) (interest on cash), for “customs officer” substitute...
9.In section 297(4) (release of detained cash), for “A customs...
10.In section 302(6) (compensation), for “a customs officer” substitute “...
11.In section 351(5) (person making application to vary or discharge...
12.(1) Section 352 (search and seizure warrants) is amended as...
13.(1) Section 353 (requirements where production order not available) is...
14.(1) Section 369 (customer information orders: supplementary provisions) is amended...
15.In section 375(4) (account monitoring orders: supplementary provisions)—
16.After section 375B insert— Officers of Revenue and Customs Restriction...
17.In section 377(1) (persons subject to code of practice), for...
18.In section 378 (officers)— (a) in subsection (1), for paragraph...
19.After section 408B insert— Officers of Revenue and Customs Restriction...
20.In section 412 (interpretation), in the entry relating to the...
Relationship of provisions of 2005 Act with provisions of 2002 Act
Corporation tax: deferral of payment of exit charge
2.After section 59F insert— Exit charge payment plans (1) Schedule 3ZB contains provisions about exit charge payment plans...
3.Immediately before section 59G insert— “ Managed payment plans ”....
4.(1) Section 109B (provision for securing payment by company of...
5.(1) Section 109E (liability of other persons for unpaid tax)...
6.After Schedule 3ZA insert— SCHEDULE 3ZB Exit charge payment plans...
Penalties: late filing, late payment and errors
Amendments to Schedule 55 to FA 2009: penalty for failure to make returns
2.Schedule 55 (penalty for failure to make returns etc) to...
3.In paragraph 1 (returns etc in respect of which penalties...
5.In paragraph 2 (amount of penalty: occasional returns and returns...
6.After paragraph 6A insert— Amount of penalty: real time information...
7.In paragraph 18 (assessment), for sub-paragraph (5) substitute—
Amendments to Schedule 56 to FA 2009: penalty for failure to make payments on time