- Latest available (Revised)
- Original (As enacted)
Finance Act 1998
You are here:
- 1998 c. 36
- SCHEDULE 18
- Part VII
- Consequential claims etc. not to give rise to reduction in liability
What Version
Advanced Features
- Show Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)
- Show Timeline of Changes
Opening Options
Changes to legislation:
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 1998. Any changes that have already been made by the team appear in the content and are referenced with annotations.
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 legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to the whole Act, associated Parts and Chapters:
Changes and effects
This section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.
- Act amendment to earlier affecting provision SI 2007/1050 reg. 3-12 by 2009 c. 4 Sch. 2 para. 131
- Act applied in part (with modifications) by S.I. 2007/1050 reg. 3-12 (This SI is amended by 2009 c. 4 Sch. 2 para. 131)
- Blanket amendment text amended by S.I. 2011/1043 art. 3 4
- Blanket amendment text amended by S.I. 2011/1043 art. 3 6
Commencement Orders yet to be applied to the Finance Act 1998:
Commencement Orders
This section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.
Commencement Orders bringing provisions within this Act into force:
- S.I. 2008/2302 art. 2 commences (1998 c. 36)
- S.I. 2009/1022 art. 2 commences (1998 c. 36)
Commencement Orders bringing legislation that affects this Act into force:
- S.I. 2003/88 art. 2 3 commences (2002 c. 23)
- S.I. 2003/1900 art. 2 commences (2003 c. 21)
- S.I. 2003/3142 art. 2-4 commences (2002 c. 11 and 2003 c. 21)
- S.I. 2005/1126 art. 2 commences (2005 c. 11)
- S.I. 2006/3399 art. 2 commences (2006 c. 25)
- S.I. 2008/568 art. 2 commences (2007 c. 11)
- S.I. 2009/402 art. 2 commences (2008 c. 9)
- S.I. 2009/403 art. 2 commences (2008 c. 9)
- S.I. 2009/404 art. 2 commences (2008 c. 9)
- S.I. 2009/405 art. 2 commences (2008 c. 9)
- S.I. 2009/511 art. 2 commences (2008 c. 9)
- S.I. 2009/571 art. 2-5 commences (2008 c. 9)
- S.I. 2011/892 art. 2 3 Commencement Order
Consequential claims etc. not to give rise to reduction in liabilityE+W+S+N.I.
64(1)If in any case—E+W+S+N.I.
(a)one or more claims, elections, applications or notices are made, given, revoked or varied under paragraph 62 in consequence of an amendment or assessment, and
(b)the total of the reductions in liability to tax resulting from that action would exceed the additional liability to tax resulting from the amendment or assessment,
the excess is not available to reduce any liability to tax.
(2)Where sub-paragraph (1) has the effect of limiting either—
(a)the reduction in a person’s liability to tax for more than one period, or
(b)the reduction in the liability to tax of more than one person,
the limited amount shall be apportioned between the periods or persons concerned.
(3)The apportionment shall be made in such manner as the Inland Revenue may specify by notice in writing to the person or persons concerned, unless notice is given under the following provision.
(4)If the person concerned gives (or the persons concerned jointly give) notice in writing to the Inland Revenue within the period of 30 days beginning with—
(a)the day on which notice under sub-paragraph (3) is given to the person concerned, or
(b)where more than one person is concerned, the latest date on which such notice is given to any of them,
the apportionment shall be made in such manner as may be specified in the notice given by the person or persons concerned.
(5)In this paragraph “tax” includes income tax or capital gains tax.
Options/Help
Print Options
Print The Whole Act
Print The Whole Schedule
Print The Whole Part
Print This Cross Heading only
You have chosen to open The Whole Act
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
You have chosen to open The Whole Act as a PDF
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
You have chosen to open the Whole Act
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
You have chosen to open the Whole Act without Schedules
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
You have chosen to open Schedules only
The Schedules only you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
See additional information alongside the content
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources