Finance Act 1998

Contents

3,515 provisions, too many to show on one page. Open a part or section to read it with its history and connections, or search inside the text.

1. Part I · Excise Duties
   1. Assessments
   2. Air passenger duty
   3. Alcoholic liquor duties
   4. Amusement machine licence duty
   5. Gaming duty
   6. Hydrocarbon oil duties
   7. Tobacco products duty
   8. Vehicle excise duty
2. Part II · Value Added Tax
   1. 21 Deemed supplies.
   2. 22 Changes of place of supply: transitional.
   3. 23 Bad debt relief.
   4. 24 Long leases in Scotland.
3. Part III · Income Tax, Corporation Tax and Capital Gains Tax
   1. Chapter I Income Tax and Corporation Tax
   2. Chapter II Taxation of Chargeable Gains
4. Part IV · Inheritance Tax etc.
   1. 142 Property of historic interest etc.
   2. 143 Removal of exemption for gifts for public benefit.
   3. 144 Maintenance funds for historic buildings, etc.
   4. 145 Accounting for property accepted in satisfaction of tax.
5. Part V · Other Taxes
   1. Dumping duties
   2. Gas levy
   3. Insurance premium tax
   4. Landfill tax
   5. Petroleum revenue tax etc.
   6. Stamp duty
   7. Stamp duty reserve tax
6. Part VI · Miscellaneous and Supplemental
   1. Supplemental
   2. Fiscal stability
   3. Government borrowing
   4. The European single currency
7. Schedule 1 · Rates of duty where pollution reduced
   1. Meaning of “the 1994 Act"
   2. Certificates as to reduced pollution
   3. Buses
   4. Special vehicles
   5. Recovery vehicles
   6. Vehicles used for exceptional loads
   7. Haulage vehicles
   8. Rigid goods vehicles
   9. Tractive units
   10. Other amendments
   11. Commencement
8. Schedule 2 · Assessments for excise duty purposes
   1. Alcoholic Liquor Duties Act 1979 (c.4)
   2. Hydrocarbon Oil Duties Act 1979 (c.5)
   3. Tobacco Products Duty Act 1979 (c.7)
   4. Finance (No. 2) Act 1992 (c.48)
   5. Finance Act 1994 (c.9)
   6. Commencement
9. Schedule 3 · Advance corporation tax
   1. Section 1 of the Provisional Collection of Taxes Act 1968
   2. Section 10 of the Taxes Management Act 1970
   3. Section 87 of the Taxes Management Act 1970
   4. Section 87A of the Taxes Management Act 1970
   5. Section 94 of the Taxes Management Act 1970
   6. Section 109 of the Taxes Management Act 1970
   7. Section 13 of the Taxes Act 1988
   8. Section 14 of the Taxes Act 1988
   9. Section 75 of the Taxes Act 1988
   10. Section 116 of the Taxes Act 1988
   11. Section 238 of the Taxes Act 1988
   12. Section 239 of the Taxes Act 1988
   13. Section 240 of the Taxes Act 1988
   14. Section 241 of the Taxes Act 1988
   15. Section 245 of the Taxes Act 1988
   16. Section 245A of the Taxes Act 1988
   17. Section 245B of the Taxes Act 1988
   18. Section 246 of the Taxes Act 1988
   19. Section 247 of the Taxes Act 1988
   20. Section 248 of the Taxes Act 1988
   21. Section 252 of the Taxes Act 1988
   22. Section 253 of the Taxes Act 1988
   23. Section 255 of the Taxes Act 1988
   24. Section 419 of the Taxes Act 1988
   25. Section 434 of the Taxes Act 1988
   26. Section 434C of the Taxes Act 1988
   27. Section 468Q of the Taxes Act 1988
   28. Section 490 of the Taxes Act 1988
   29. Section 497 of the Taxes Act 1988
   30. Section 498 of the Taxes Act 1988
   31. Section 499 of the Taxes Act 1988
   32. Section 703 of the Taxes Act 1988
   33. Section 704 of the Taxes Act 1988
   34. Section 705 of the Taxes Act 1988
   35. Section 797 of the Taxes Act 1988
   36. Section 802 of the Taxes Act 1988
   37. Section 813 of the Taxes Act 1988
   38. Section 826 of the Taxes Act 1988
   39. Section 832 of the Taxes Act 1988
   40. Section 835 of the Taxes Act 1988
   41. Schedule 13 to the Taxes Act 1988
   42. Schedule 13A to the Taxes Act 1988
   43. Schedule 24 to the Taxes Act 1988
   44. Schedule 26 to the Taxes Act 1988
   45. Paragraph 8 of Schedule 4 to the Finance (No. 2) Act 1997
   46. Paragraph 9 of Schedule 4 to the Finance (No. 2) Act 1997
   47. Paragraph 18 of Schedule 4 to the Finance (No. 2) Act 1997
   48. Paragraph 23 of Schedule 4 to the Finance (No. 2) Act 1997
10. Schedule 4 · Interest payable under the Tax Acts by or to companies
    1. Interest on overpaid or early paid corporation tax
    2. The “material date" for interest on a repayment of income tax
    3. Recovery of interest overpaid under section 826(1)(a)
    4. Interest on underpaid tax where reliefs are carried back
    5. Interest on overpaid tax where reliefs are carried back
    6. Company liquidations
    7. Loan relationships
11. Schedule 5 · Rent and other receipts from land
    1. Part I Main charging provisions
    2. Part II Treatment of losses
    3. Part III Minor and consequential amendments
    4. Part IV Transitional provisions for corporation tax
12. Schedule 6 · Adjustment on change of accounting basis
    1. Introduction
    2. Adjustment on change of accounting basis
    3. Calculation of adjustment
    4. Spreading of adjustment charge in certain cases
    5. Election to accelerate payment of adjustment charge
    6. Application of provisions to partnerships
    7. Liability of personal representatives in case of death of person chargeable
    8. Interpretation
13. Schedule 7 · Removal of unnecessary references to gains
    1. (1) In the Taxes Act 1988: sections ... ... ... ......
    2. (2) In the Finance Act 1988: ... Schedule 12, paragraph 2(2)....
    3. (3) In the Finance Act 1989: sections 67(2)(a) ... ... ....
    4. (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    5. (5) In the Finance Act 1990: section 126(2).
    6. (6) In the Finance Act 1991: section 121.
    7. (7) In the Taxation of Chargeable Gains Act 1992: sections 39(1)...
    8. (8) In the Finance ( No. 2) Act 1992: section 42(8)...
    9. (9) In the Finance Act 1994: Schedule 24, paragraph 12(2).
    10. (10) In the Finance Act 1995: section 126(6) and (7).
    11. (11) In the Finance Act 1996: sections 80(2) (in the second...
    12. (12) In the Finance Act 1997: Schedule 12, paragraph 8(4)(a).
14. Schedule 8 · Sub-contractors in the construction industry
    1. Introductory
    2. Application of deductions to public departments Et ceteralaetc
    3. Conditions for exemption of partnerships
    4. Conditions of exemption for companies
    5. Commencement of paragraphs 3 and 4
    6. Powers to make regulations
    7. Transitional provision for commencement of 1995 Act amendments
15. Schedule 9 · Payments and other benefits in connection with termination of employment etc
    1. Part I Schedule 11 to the Taxes Act 1988
    2. Part II Consequential amendments
16. Schedule 10 · Ordinary commuting and private travel
17. Schedule 11 · Transitional provisions for profit-related pay
    1. Application of Schedule
    2. Rule for determining section 171(4) limit
    3. Meaning of related scheme
    4. Meaning of “relevant anniversary"
    5. General interpretation
18. Schedule 12 · EIS and VCTs: meaning of qualifying trade
    1. New exclusions for the enterprise investment scheme
    2. Definition of excluded activities for the enterprise investment scheme
    3. New exclusions for VCTs
    4. Definition of excluded activities for VCTs
    5. Commencement
19. Schedule 13 · Changes to EIS etc
    1. Part I EIS income tax relief
    2. Part II EIS relief against chargeable gains
    3. Part III EIS deferral of chargeable gains
    4. Part IV BES income tax relief and relief against chargeable gains
20. Schedule 14 · Life policies, life annuities and capital redemption policies
    1. Section 547
    2. Multiple interests
    3. Right of company to recover tax from trustees
    4. Foreign institution policies: no reduction under section 553
    5. Consequential amendments
    6. Commencement
21. Schedule 15 · Approved retirement benefits schemes
    1. Amendment of section 591C of the Taxes Act 1988
    2. Amendment of section 591D
    3. Application for scheme approval
    4. Information powers
    5. Employers responsible for discharging administrator’s duties
    6. Recourse to scheme members in respect of section 591C charge
    7. Modification of certain existing approved schemes
22. Schedule 16 · Transfer pricing etc: new regime
23. Schedule 17 · Controlled foreign companies
    1. Section 747
    2. Section 747A
    3. Section 748
    4. Section 749
    5. Section 750
    6. Section 751
    7. Section 752
    8. Section 753
    9. Section 754
    10. Returns where it is not established whether acceptable distribution policy applies
    11. Determinations requiring the sanction of the Board
    12. Section 755
    13. Treatment of chargeable profits and creditable tax apportioned to company carrying on life assurance business
    14. Amendment of return where general insurance business of foreign company accounted for on non-annual basis
    15. Application of Chapter where general insurance business of foreign company accounted for on non-annual basis.
    16. Section 756
    17. Paragraph 1 of Schedule 24
    18. Paragraph 2 of Schedule 24
    19. Paragraph 4 of Schedule 24
    20. Paragraph 9 of Schedule 24
    21. Paragraph 10 of Schedule 24
    22. Paragraph 11 of Schedule 24
    23. Paragraph 11A of Schedule 24
    24. Transfer pricing
    25. Schedule 25
    26. Paragraph 1 of Schedule 25
    27. Paragraph 2A of Schedule 25
    28. Paragraph 3 of Schedule 25
    29. Paragraph 5 of Schedule 25
    30. Paragraph 6 of Schedule 25
    31. Paragraph 8 of Schedule 25
    32. Paragraph 12 of Schedule 25
    33. Superior holding companies: supplementary provisions
    34. Paragraph 1 of Schedule 26
    35. Paragraph 3 of Schedule 26
    36. Paragraph 4 of Schedule 26
    37. Commencement and transitional provision
24. Schedule 18 · Company tax returns, assessments and related matters
    1. Part 8A Claims for allocation of surplus dual inclusion income
    2. Part 9B Claims relating to remediation of contaminated or derelict land
    3. Part 9BA Claims for relief under Schedule 12 to the Finance Act 2002
    4. Part 9C Claims for relief under Schedule 13 to the Finance Act 2002
    5. Part 9D Claims under Parts 14A to 15E of the Corporation Tax Act 2009
    6. Part 9E Designation of losses as unrestricted losses for the purposes of Chapter 3 of Part 7A of the Corporation Tax Act 2010
    7. Part 10A SEs
    8. Part I Introduction
    9. Part II Company tax return
    10. Part III Duty to keep and preserve records
    11. Part IV Enquiry into company tax return
    12. Part IX Claims for capital allowances
    13. Part IXA Claims for R&D expenditure credits or R&D tax relief
    14. Part V Revenue determinations and assessments
    15. Part VI Overpaid tax, excessive assessments or repayments, etc
    16. Part VII General provisions as to claims and elections
    17. Part VIII Claims for group relief and group relief for carried-forward losses
    18. Part X Special provisions
    19. Part XI Supplementary provisions
25. Schedule 19 · Company tax returns, etc.: minor and consequential amendments
    1. Taxes Management Act 1970 (c.9)
    2. Income and Corporation Taxes Act 1988 (c.1)
26. Schedule 20 · Application of taper relief
27. Schedule 21 · Amendments in connection with taper relief
    1. Introductory
    2. Gains of trustees attributed to settlor
    3. Annual exempt amount
    4. Gains attributed to members of non-resident companies
    5. Carry back of losses on death
    6. Gains attributed to settlors and beneficiaries
    7. Gains on assets deriving from reorganisation of body carrying on a mutual business etc.
    8. Commercial letting of furnished holiday dwellings
    9. Delayed remittances in respect of foreign assets
28. Schedule 22 · Transitional provision and consequential amendments for section 131
    1. Introductory
    2. Transitional for settlements created before 17th March 1998
    3. Consequential amendments of paragraphs 4 and 5 of Schedule 5 to the 1992 Act
    4. Consequential amendment of paragraph 9 of Schedule 5 to the 1992 Act
    5. Consequential amendment of Schedule 5A
29. Schedule 23 · Transitional provision in connection with section 132
    1. Pre-6th April 1999 gains and losses of settlements that become qualifying
    2. Pre-6th April 1999 gains and losses where there is a transfer to another settlement
    3. Pre-6th April 1999 gains and losses where there is a transfer to a foreign institution
    4. Rule to prevent a double charge
    5. Interpretation of Schedule
30. Schedule 24 · Restrictions on setting losses against pre-entry gains
31. Schedule 25 · Property of historic interest etc
    1. Meaning of “the 1984 Act"
    2. Claims for designation
    3. Property capable of designation
    4. Access to designated property
    5. Publication of information about designated property
    6. Undertakings on death, disposal of property, etc.
    7. Variation of undertakings
32. Schedule 26 · National loans
    1. Amendment of National Loans Act 1968 (c.13)
    2. Amendment of Finance Act 1993 (c.34)
    3. Commencement
33. Schedule 27 · Repeals
    1. Part I Excise duties
    2. Part II Value added tax
    3. Part III Income tax, corporation tax and capital gains tax
    4. Part IV Inheritance tax
    5. Part V Other taxes
    6. Part VI Miscellaneous