Statutory Instruments
Income Tax
Made
15th December 2015
The Treasury, in exercise of the powers conferred by section 23(3) of the Finance Act 2015(1), make the following Regulations:
1. These Regulations may be cited as the Finance Act 2015, Section 23 (Appointed Day) Regulations 2015.
2. 1st January 2016 is the day appointed for the amendment made by section 23 of the Finance Act 2015 to come into force, so far as that amendment is not already brought into force by section 23(2) of that Act.
Mel Stride
George Hollingbery
Two of the Lords Commissioners of Her Majesty’s Treasury
15th December 2015
(This note is not part of the Regulations)
The Regulations provide that 1st January 2016 is the day appointed for the amendment made by section 23 of the Finance Act 2015 (c.11) to come into force, so far as not already brought into force by section 23(2) of that Act.
Section 23 amends Chapter 3 of Part 15 of the Income Tax Act 2007 (c.3) (deduction from certain payments of yearly interest) by inserting section 888A (qualifying private placements).
A Tax Information and Impact Note has not been prepared for the Regulations as they give effect to previously announced policy and are appointed day regulations.