The Finance Act 2004, Section 53 (Commencement) Order 2004 No. 3268 (C. 147)

Statutory Instruments

2004 No. 3268 (C. 147 )

TAXES

The Finance Act 2004, Section 53 (Commencement) Order 2004

Made

9th December 2004

The Treasury, in exercise of the powers conferred upon them by section 53(6) of the Finance Act 2004(1), make the following Order:

Citation

1.  This Order may be cited as the Finance Act 2004, Section 53 (Commencement) Order 2004.

Coming into force of section 53 of the Finance Act 2004

2.  Section 53 of the Finance Act 2004 (treatment of expenditure on research and development) shall come into force on 1st January 2005 and shall have effect in relation to accounting periods beginning on or after that day.

Derek Twigg

Jim Murphy

Two of the Lords Commissioners of Her Majesty’s Treasury

9th December 2004

Explanatory Note

(This note is not part of the Order)

Article 1 provides for the citation of the Order.

Article 2 appoints 1st January 2005 as the day on which section 53 of the Finance Act 2004 comes into force and further provides that the section shall have effect in relation to accounting periods beginning on or after that day.

The Order does not impose new costs on business.

(1)

2004 c. 12.