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Changes over time for: Paragraph 161
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/04/2010.
Changes to legislation:
There are currently no known outstanding effects for the The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009, Paragraph 161.
Changes to Legislation
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Income and Corporation Taxes Act 1988U.K.
This section has no associated Explanatory Memorandum
161.—(1) Schedule 27 (distributing funds) is amended as follows.
(2) In paragraph 16(1) omit “to the Special Commissioners”.
(3) In paragraph 16(2) for “Special Commissioners” substitute “tribunal”.
(4) In paragraph 19—
(a)in sub-paragraph (1) for “In any case” substitute “This paragraph applies”;
(b)for the words after sub-paragraph (1)(b) substitute—
“(1A) Any person who has been assessed to tax and considers that, if the offshore fund were to be certified as a distributing fund in respect of the accounting period in question, he would be overcharged to tax by the assessment may—
(a)first apply in writing to HMRC within 30 days of the date of the issue of the notice of assessment for a determination by them of the amount of tax the payment of which should be postponed pending the determination of the question whether the fund should be so certified;
(b)where such a determination is not agreed, refer the application for postponement to the tribunal within 30 days from the date of the document notifying HMRC’s decision on the amount to be postponed.”; and
(c)in sub-paragraph (2)—
(i)for “A notice of ” substitute “An”; and
(ii)for “(1)” substitute “(1A)”.
(5) In paragraph 20 for “Special Commissioners” substitute “tribunal”.
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