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Finance Act 1988

Changes to legislation:

Finance Act 1988 is up to date with all changes known to be in force on or before 23 September 2018. There are changes that may be brought into force at a future date. Help about Changes to Legislation

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Changes to Legislation

Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below.

  1. Introductory Text

  2. Part I Customs and Excise

    1. Duties of excise: rates

      1. 1. Beer, wine, made-wine and cider.

      2. 2. Tobacco products.

      3. 3. Hydrocarbon oil.

      4. 4. Vehicles excise duty.

    2. Duties of excise: other provisions

      1. 5. Relief from excise duty on goods imported for testing etc.

      2. 6. Remission of duty in respect of spirits used for medical or scientific purposes.

      3. 7. Meaning of “sparkling” in relation to wine and made-wine.

    3. Management

      1. 8. Disclosure of information as to imports.

      2. 9. Approval and regulation of warehouses.

      3. 10. Power to search persons.

      4. 11. Time limits for arrest and proceedings.

      5. 12. Punishment of offences.

  3. Part II Value Added Tax

    1. Exemptions

      1. 13. Medical services and goods.

    2. Administration

      1. 14. Registration.

      2. 15. Assessment of tax due.

    3. Civil penalties

      1. 16. Serious misdeclaration or neglect resulting in understatements or overclaims.

      2. 17. Persistent misdeclaration resulting in understatements or overclaims.

      3. 18. Failures to notify and unauthorised issue of invoices.

      4. 19. Breaches of regulatory provisions.

    4. Miscellaneous

      1. 20. Repayment supplement.

      2. 21. Set-off of credits.

      3. 22. Invoices provided by recipients of goods or services.

  4. Part III Income Tax, Corporation Tax and Capital Gains Tax

    1. Chapter I General

      1. Tax rates and personal reliefs

        1. 23. Charge and basic rate of income tax for 1988-89.

        2. 24. Higher and additional rates of income tax.

        3. 25. Personal reliefs.

        4. 26. Charge and rate of corporation tax for financial year 1988.

        5. 27. Corporation tax: small companies.

        6. 28. Tax rates and personal reliefs

        7. 29. Life assurance premium relief.

        8. 30. Tax rates and personal reliefs

        9. 31. Non-residents’ personal reliefs.

      2. Married couples

        1. 32. Abolition of aggregation of income.

        2. 33. Personal allowance and married couple’s allowance.

        3. 34. Jointly held property.

        4. 35. Minor and consequential provisions.

      3. Annual payments

        1. 36. Annual payments.

        2. 37. Maintenance payments under existing obligations:

        3. 38. Maintenance payments under existing obligations:

        4. 39. Maintenance payments under existing obligations: election for new rules.

        5. 40. Provisions supplementary to sections 37 to 39.

      4. Relief for interest

        1. 41. Qualifying maximum for loans.

        2. 42. Home loans: restriction of relief.

        3. 43. Home improvement loans.

        4. 44. Loans for residence of dependent relative etc.

      5. Benefits in kind

        1. 45. Car benefits.

        2. 46. Car parking facilities.

        3. 47. Entertainment: non-cash vouchers.

        4. 48. Entertainment: credit-tokens.

        5. 49. Entertainment of directors and higher-paid employees.

      6. Business expansion scheme

        1. 50. Private rented housing.

        2. 51. Restriction of relief.

        3. 52. Valuation of interests in land.

        4. 53. Approved investment funds.

      7. Pensions etc.

        1. 54. Personal pension schemes: commencement.

        2. 55. Personal pension schemes: other amendments.

        3. 56. Occupational pension schemes.

        4. 57. Lump sum benefits paid otherwise than on retirement.

      8. Underwriters

        1. 58. Assessment and collection.

        2. 59. Reinsurance: general.

        3. 60. Reinsurance to close.

        4. 61. Minor and consequential amendments.

      9. Oil licences

        1. 62. Disposals of oil licences relating to undeveloped areas.

        2. 63. Allowance of certain drilling expenditure etc. in determining chargeable gains.

        3. 64. Interpretation of sections 62 and 63.

      10. Miscellaneous

        1. 65. Commercial woodlands.

        2. 66. Company residence.

        3. 66A.Residence of SE or SCE

        4. 67. Miscellaneous

        5. 68. Priority share allocations for employees etc.

        6. 69. Share options: loans.

        7. 70. Charities: payroll deduction scheme.

        8. 71. Unit trusts: relief on certain payments.

        9. 72. Entertainment of overseas customers.

        10. 73. Consideration for certain restrictive undertakings.

        11. 74. Miscellaneous

        12. 75. Premiums for leases etc.

        13. 76. Miscellaneous

    2. chapter II Unapproved Employee Share Schemes

      1. Preliminary

        1. 77. Scope of Chapter.

      2. Charges to tax

        1. 78. Charge where restrictions removed etc.

        2. 79. Charge for shares in dependent subsidiaries.

        3. 80. Charge on special benefits.

      3. Miscellaneous

        1. 81. Changes in interest.

        2. 82. Company reorganisations etc.

        3. 83. Connected persons etc.

        4. 84. Capital gains tax.

        5. 85. Information.

      4. Supplementary

        1. 86. Meaning of “dependent subsidiary”.

        2. 87. Other interpretation provisions.

        3. 88. Transitional provisions.

        4. 89. Consequential amendments.

    3. chapter III Capital Allowances

      1. 90.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. 91.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. 92.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      4. 93.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. 94.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      6. 95.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. chapter IV Capital Gains

      1. Re-basing to 1982

        1. 96. Assets held on 31st March 1982.

        2. 97. Deferred charges on gains before 31st March 1982.

      2. Unification of rates of tax on income and capital gains

        1. 98. Rates of capital gains tax.

        2. 99. Husband and wife.

        3. 100. Accumulation and discretionary settlements.

        4. 101. Underwriters.

        5. 102. Other special cases.

        6. 103. Commencement of sections 98 to 102.

      3. Married couples

        1. 104. Married couples.

      4. Company migration

        1. 105. Deemed disposal of assets on company ceasing to be resident in U.K.

        2. 106. Deemed disposal of assets on company ceasing to be liable to U.K. tax.

        3. 107. Postponement of charge on deemed disposal.

      5. Miscellaneous

        1. 108. Annual exempt amount for 1988-89.

        2. 109. Gains arising from certain settled property.

        3. 110. Retirement relief.

        4. 111. Dependent relative’s residence.

        5. 112. Roll-over relief.

        6. 113. Indexation: building societies etc.

        7. 114. Indexation: groups and associated companies.

        8. 115. Transfers within a group.

        9. 116. Personal equity plans.

        10. 117. Definition of “investment trust”.

        11. 118. Amendments of Finance Act 1985 s.68.

    5. chapter V Management

      1. Assessment

        1. 119. Current year assessments.

      2. Returns of income and gains

        1. 120. Notice of liability to income tax.

        2. 121. Notice of liability to corporation tax.

        3. 122. Notice of liability to capital gains tax.

      3. Other returns and information

        1. 123. Three year time limit.

        2. 124. Returns of fees, commissions etc.

        3. 125. Other payments and licences etc.

      4. Production of accounts, books etc.

        1. 126. Production of documents relating to a person’s tax liability.

        2. 127. Production of computer records etc.

      5. Interest and penalties

        1. 128. Interest on overdue or overpaid PAYE.

        2. 129. Two or more tax-geared penalties in respect of same tax.

      6. Company migration

        1. 130. Provisions for securing payment by company of outstanding tax.

        2. 131. Penalties for failure to comply with section 130.

        3. 132. Liability of other persons for unpaid tax.

      7. Appeals etc.

        1. 133. Jurisdiction of General Commissioners.

        2. 134. General Commissioners for Northern Ireland.

        3. 135. Cases stated in Northern Ireland.

  5. Part IV Miscellaneous and General

    1. Inheritance tax

      1. 136. Reduction of rates.

      2. 137. Gifts to political parties.

    2. Petroleum revenue tax

      1. 138. Reduced oil allowance for certain Southern Basin and onshore fields.

      2. 139.Assets generating tariff receipts: extension of allowable expenditure.

    3. Stamp duty and stamp duty reserve tax

      1. 140. Abolition of stamp duty under the heading “Unit Trust Instrument”.

      2. 141. Abolition of stamp duty on documents relating to transactions of capital companies.

      3. 142. Stamp duty: housing action trusts.

      4. 143.Stamp duty: paired shares

      5. 144.Stamp duty reserve tax: paired shares etc

    4. Miscellaneous

      1. 145. Building societies: change of status.

      2. 146. Post-consolidation amendments.

      3. 147. Interpretation etc.

      4. 148. Repeals.

      5. 149. Short title.

  6. SCHEDULES

    1. SCHEDULE 1

      Alcoholic Liquor Duties

      1. Part I Table of Rates of Duty on Wine and Made-Wine

      2. Part II Beverages of an Alcoholic Strength not Exceeding 5.5 per cent.

        1. 1.(1) In subsection (2) of section 1 of the Alcoholic...

        2. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        3. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        4. 4.After subsection (4) of section 54 of that Act (wine:...

        5. 5.(1) After subsection (4) of section 55 of that Act...

        6. 6.After section 55 of that Act there shall be inserted—...

        7. 7.In section 59 of that Act (rendering imported wine or...

        8. 8.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        9. 9.Section 63 of that Act (repayment of duty on imported...

        10. 10.At the end of subsection (1) of section 71 of...

        11. 11.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        12. 12.At the end of subsection (1) of section 73 of...

        13. 13.In Schedule 1 to that Act, for the Table of...

    2. SCHEDULE 2

      Vehicles Excise Duty

      1. Part I

      2. Part II Vehicles Carrying or Drawing Exceptional Loads

        1. 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        3. 3.

        4. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        5. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        6. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. SCHEDULE 3

      Married Couples: Minor and Consequential Provisions

      1. Part I Amendments of the Taxes Act 1988

        1. Introductory

          1. 1.The Taxes Act 1988 shall have effect subject to the...

        2. Commencement of trade etc.

          1. 2.In section 62 (special basis for early years following commencement...

        3. Discontinuance of trade etc.

          1. 3.In section 63 (special basis on discontinuance of trade etc....

        4. Underpayments

          1. 4.In section 203 ( PAYE ) the following subsection shall...

        5. Additional relief in respect of children

          1. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          2. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        6. Widow’s bereavement allowance

          1. 7.(1) The section set out in sub-paragraph (2) below shall...

        7. Blind person’s allowance

          1. 8.For the year 1990-91 and subsequent years of assessment the...

        8. Life assurance premiums

          1. 9.For the year 1990-91 and subsequent years of assessment section...

        9. Payments securing annuities

          1. 10.For the year 1990-91 and subsequent years of assessment the...

        10. Married couples living together

          1. 11.For the year 1990-91 and subsequent years of assessment the...

        11. Business expansion scheme

          1. 12.(1) For the year 1990-91 and subsequent years of assessment...

        12. Qualifying maintenance payments

          1. 13.For the year 1990-91 and subsequent years of assessment section...

        13. Home loans

          1. 14.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        14. Loans for shares in employee-controlled company

          1. 15.(1) In section 361 (relief for interest on loans to...

        15. Close company loans

          1. 16.(1) In section 420(2)(a)(i) (exception from charge in case where...

        16. Trade unions and employers’ associations

          1. 17.(1) In section 467(2) (tax exemption in respect of income...

        17. Retirement benefit schemes

          1. 18.(1) In section 590 (conditions for approval of retirement benefit...

        18. Partnership retirement annuities

          1. 19.For the year 1990-91 and subsequent years of assessment section...

          2. 20.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        19. Earned income

          1. 21.For the year 1990-91 and subsequent years of assessment section...

        20. Total income

          1. 22.For the year 1990-91 and subsequent years of assessment section...

      2. Part II Other Provisions

        1. Capital allowances

          1. 23.. . . . . . . . . ....

          2. 24.. . . . . . . . . ....

        2. The transition

          1. 25.The operation of section 279(1) of the Taxes Act 1988...

        3. Returns

          1. 26.Where a man is required under section 8 of the...

          2. 27.Where a man delivers a return such as is mentioned...

          3. 28.Where a woman is liable to a penalty under section...

        4. Time limits for assessments

          1. 29.. . . . . . . . . ....

        5. Transfers of allowances

          1. 30.For the year 1990-91 and subsequent years of assessment the...

        6. Class 4 social security contributions

          1. 31.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        7. Annual payments

          1. 32.Section 36 of this Act shall have effect in relation...

        8. Maintenance payments

          1. 33.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. SCHEDULE 4

      1. Part I Modifications Made by Section 50

        1. Preliminary

          1. 1.The modifications of Chapter III of Part VII of the...

        2. The relief

          1. 2.(1) In subsection (1) of section 289 (relief under the...

        3. Restriction of relief where amounts raised exceed permitted maximum

          1. 3.(1) In subsection (1) of section 290A (restriction of relief...

        4. Individuals qualifying for relief

          1. 4.In section 291 (individuals qualifying for relief), after subsection (1)...

        5. Parallel trades

          1. 5.Section 292 (parallel trades) shall be omitted.

        6. Qualifying companies

          1. 6.(1) For subsection (2) of section 293 (qualifying companies) there...

        7. Companies with interests in land etc.

          1. 7.The following shall be omitted, namely— (a) section 294 (companies...

        8. Qualifying trades etc.

          1. 8.The following shall also be omitted, namely—

        9. Replacement capital

          1. 9.(1) In subsection (1) of section 302 (replacement capital), for...

        10. Claims

          1. 10.In subsections (2) and (3) of section 306 (claims), for...

        11. Subsidiaries

          1. 11.(1) For subsection (1) of section 308 (application to subsidiaries)...

          2. 12.In subsection (2) of section 309 (further provisions as to...

      2. Part II Dwelling-Houses to Which Section 50 Does Not Apply

        1. Expensive dwelling-houses

          1. 13.(1) Section 50 of this Act does not apply to...

        2. Unfit and sub-standard dwelling-houses

          1. 14.Section 50 of this Act does not apply to—

        3. Dwelling-houses already let etc.

          1. 15.(1) Subject to sub-paragraphs (1A) to (1C) below, section 50...

        4. Dwelling-houses already qualifying for relief

          1. 16.(1) Section 50 of this Act does not apply to...

        5. Dwelling-houses qualifying for capital allowances

          1. 17.Section 50 of this Act does not apply to a...

        6. Interpretation of certain expressions: Scotland

          1. 18.In the application of the above provisions of this Part...

    5. SCHEDULE 5

      Underwriters: Assessment and Collection of Tax

      1. Preliminary

        1. 1. Underwriters: Assessment and Collection of Tax

      2. Returns by agent

        1. 2. Underwriters: Assessment and Collection of Tax

      3. Payments on account of tax

        1. 3. Underwriters: Assessment and Collection of Tax

      4. Determinations by inspector

        1. 4. Underwriters: Assessment and Collection of Tax

      5. Appeals

        1. 5. Underwriters: Assessment and Collection of Tax

      6. Modification of determinations pending appeal

        1. 6. Underwriters: Assessment and Collection of Tax

      7. Apportionments of syndicate profit or loss

        1. 7. Underwriters: Assessment and Collection of Tax

      8. Individual members: effect of determinations

        1. 8. Underwriters: Assessment and Collection of Tax

      9. Assessment of individual members: time limits

        1. 9. Underwriters: Assessment and Collection of Tax

      10. Supplemental: penalties

        1. 10. Underwriters: Assessment and Collection of Tax

      11. Supplemental: interest

        1. 11. Underwriters: Assessment and Collection of Tax

    6. SCHEDULE 6

      Commercial Woodlands

      1. Preliminary

        1. 1. Commercial Woodlands

      2. Abolition of charge under Schedule B

        1. 2. Commercial Woodlands

      3. Abolition of Schedule D election et ceteralaetc.

        1. 3. Commercial Woodlands

      4. Transitional provisions

        1. 4. Commercial Woodlands

        2. 5. Commercial Woodlands

      5. Consequential amendments

        1. 6. Commercial Woodlands

    7. SCHEDULE 7

      Exceptions to Rule in Section 66(1)

      1. Cases where rule does not apply

        1. 1. Exceptions to Rule in Section 66(1)

        2. 2. Exceptions to Rule in Section 66(1)

      2. Cases where rule does not apply until end of transitional period

        1. 3. Exceptions to Rule in Section 66(1)

        2. 4. Exceptions to Rule in Section 66(1)

      3. Supplemental

        1. 5. Exceptions to Rule in Section 66(1)

    8. SCHEDULE 8

      1. Previous no gain/no loss disposals

        1. 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. Capital allowances

        1. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. Part disposals

        1. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      4. Assets derived from other assets

        1. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. Group transactions

        1. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      6. Close companies

        1. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      7. Private residence relief

        1. 8.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      8. Replacement of business assets

        1. 9.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      9. Apportionment of pre-1965 gains and losses

        1. 10.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      10. Indexation allowance

        1. 11.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      11. Elections under section 96(5): excluded disposals

        1. 12.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      12. Elections under section 96(5): groups of companies

        1. 13.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 14.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    9. SCHEDULE 9

      1. Reduction of deduction or gain

        1. 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. Charges rolled-over or held-over

        1. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 2A.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. Postponed charges

        1. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      4. Previous no gain/no loss disposals

        1. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        3. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. Assets derived from other assets

        1. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      6. Claims

        1. 8.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    10. SCHEDULE 10

      1. Charge on settlor with interest in settlement

        1. 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        3. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        4. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. Right of recovery

        1. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. Meaning of “settlor” etc.

        1. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      4. Information

        1. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. Shares in non–resident companies

        1. 8.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      6. Maintenance funds for historic buildings

        1. 9.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      7. Commencement

        1. 10.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    11. SCHEDULE 11

      1. Debts

        1. 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      2. Shares

        1. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      3. Linked companies

        1. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      4. Supplementary

        1. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

      5. Commencement

        1. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    12. SCHEDULE 12

      Building Societies: Change of Status

      1. Introductory

        1. 1.Paragraphs 3 to 7 below apply where there is a...

      2. Gilt-edged securities and other financial trading stock

        1. 2. Building Societies: Change of Status

      3. Capital allowances

        1. 3.(1) For the purposes of the allowances and charges provided...

      4. Capital gains: assets acquired from society, etc.

        1. 4. Building Societies: Change of Status

      5. Capital gains: shares, and rights to shares, in successor company

        1. 5. Building Societies: Change of Status

      6. Distributions

        1. 6.(1) Where, in connection with the transfer, qualifying benefits are...

      7. Certified SAYE savings arrangements

        1. 7.Section 702 of the Income Tax (Trading and Other Income)...

      8. Stamp duty

        1. 8.Section 109 of the Building Societies Act 1986 (exemption from...

    13. SCHEDULE 13

      Post-Consolidation Amendments

      1. Part I Amendments of the Taxes Act 1988

        1. 1.The Taxes Act 1988 shall have effect, and shall be...

        2. 2.In section 61(4) after the word “where” there shall be...

        3. 3.In section 162(1) after the word “Where” there shall be...

        4. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        5. 5.In section 533(4) after “1949” there shall be inserted the...

        6. 6.In section 591(5) and (6) after the word “made” there...

        7. 7.In section 824— (a) in subsection (1) the following paragraphs...

        8. 8.. . . . . . . . . ....

        9. 9.In paragraph 2 of Schedule 10 after sub-paragraph (c) there...

        10. 10.In paragraph 17(2)(a) of Schedule 15 after the words “but...

        11. 11.In paragraph 18(2) of that Schedule for “1 to 9”...

        12. 12.In paragraph 4(3)(b) of Schedule 27 for “416” there shall...

        13. 13.In paragraph 8 of Schedule 29 for the words “added...

        14. 14.In the Table in paragraph 32 of that Schedule the...

        15. 15.The repeals made in section 47 of the Finance (No....

      2. Part II Amendments of Other Enactments

        1. The Capital Gains Tax Act 1979 (c.14)

          1. 16.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          2. 17.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          3. 18.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. The Finance Act 1980 (c.48)

          1. 19.In section 101 of the Finance Act 1980 for the...

          2. 20.In section 109(8)(b) of that Act for the words “Part...

        3. The Finance Act 1981 (c.35)

          1. 21.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        4. The Finance Act 1984 (c.43)

          1. 22.In section 80(5)(b) of the Finance Act 1984 for the...

        5. The Finance Act 1986 (c.41)

          1. 23.. . . . . . . . . ....

        6. The Finance Act 1987 (c.16)

          1. 24.The repeals made by the Finance Act 1987 in section...

        7. Commencement

          1. 25.The amendments made by paragraphs 16 to 23 of this...

    14. SCHEDULE 14

      Repeals

      1. Part I Customs and Excise

        1. 1.The repeal in section 1 of the Alcoholic Liquor Duties...

        2. 2.The repeals in sections 42 and 43 of that Act...

        3. 3.The repeals in the Betting and Gaming Duties Act 1981...

      2. Part II Vehicles Excise Duty

      3. Part III Value Added Tax

      4. Part IV Income and Corporation Tax: General

        1. 1.The repeals in section 482 of the Income and Corporation...

        2. 2.The repeals in Schedule 10 to the Income and Corporation...

        3. 3.The repeal in the Finance Act 1980 has effect from...

        4. 4.The repeals in section 278 of the Income and Corporation...

        5. 5.The repeal of section 351(1) to (7) of that Act...

        6. 6.The repeals in sections 355, 357 and 358 of that...

        7. 7.The repeals in section 577 of that Act have effect...

        8. 8.The repeals in Schedule 11 to that Act have effect...

        9. 9.The remaining repeals have effect for the year 1988-89 and...

      5. Part V Commercial Woodlands

        1. 1.The repeals in the Taxes Management Act 1970, the repeals...

        2. 2.The repeals of section 111 of the Income and Corporation...

        3. 3.The remaining repeals have effect from 6th April 1993.

      6. Part VI Unapproved Employee Share Schemes

      7. Part VII Capital Gains: General

        1. 1.The repeals in the Income and Corporation Taxes Act 1988...

        2. 2.The remaining repeals have effect in relation to disposals made...

      8. Part VIII Married Couples

        1. 1.The repeals in section 361 of the Income and Corporation...

        2. 2.The repeals in sections 382 and 574 of that Act...

        3. 3.The repeal in section 420(2) of that Act has effect...

        4. 4.The repeal in section 525 of that Act has effect...

        5. 5.The repeals in sections 527 and 535 of that Act...

        6. 6.The remaining repeals have effect for the year 1990-91 and...

      9. Part IX Tax Appeals etc. in Northern Ireland

      10. Part X Inheritance Tax

      11. Part XI Stamp Duty

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