Finance Act 2000

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There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2000. Any changes that have already been made by the team appear in the content and are referenced with annotations.

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Changes and effects yet to be applied to Schedule 30 Crossheading Relief-for-persons-resident-outside-the-uk-who-have-branches-or-agencies-in-the-uk:

Changes and effects

This section lists the changes and effects yet to be applied to the specific provision you are viewing.

Sch. 12 (except para. 17 18) repealed by 2003 c. 1 Sch. 8 Pt. 1

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 applied (with modifications) by S.I. 2011/245 Sch. 6 Pt. 1
Act modified by S.I. 2009/317 art. 3 Sch.
Blanket amendment text amended by S.I. 2011/1043 art. 3 6

Commencement Orders yet to be applied to the Finance Act 2000:

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 legislation that affects this Act into force:

S.I. 2003/603 art. 2 commences (2002 c. 23)
S.I. 2003/708 art. 2 commences (2001 c. 16)
S.I. 2003/962 art. 2 commences (2002 c. 21)
S.I. 2003/1725 art. 2 commences (2002 c. 9)
S.I. 2003/1900 art. 2 commences (2003 c. 21)
S.I. 2003/2093 art. 2 commences (2002 c. 40)
S.I. 2003/2622 art. 2 commences (2002 c. 23)
S.I. 2003/3142 art. 2-4 commences (2002 c. 11 and 2003 c. 21)
S.I. 2004/2066 art. 2 commences (2003 c. 39)
S.I. 2004/3268 art. 2 commences (2004 c. 12)
S.I. 2005/123 art. 2 commences (2004 c. 12)
S.I. 2005/950 art. 2-4 commences (2003 c. 44)
S.I. 2005/1126 art. 2 commences (2005 c. 11)
S.I. 2005/1713 art. 2 commences (2003 c. 14)
S.I. 2005/2122 art. 2 amendment to earlier commencing SI 2005/950 Sch. 2 para. 23
S.I. 2007/2901 art. 2 commences (2006 c. 25)
S.I. 2007/2902 art. 2 commences (2007 c. 11)
S.I. 2008/1928 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. 2010/815 art. 2 commences (2009 c. 10)
S.I. 2010/867 art. 2 commences (2009 c. 10)
S.R. 2006/21 art. 2 commences (S.I. 2005/1455 (N.I.))
S.R. 2006/22 art. 2-7 transitional provisions for effects of SR 2006/21
S.R. 2006/63 art. 2 commences (S.I. 2004/1501 (N.I.))
S.R. 2007/37 art. 2 commences (S.I. 2006/3337 (N.I.))

Relief for persons resident outside the UK who have branches or agencies in the UKE+W+S+N.I.

4(1)Amend section 790 of the Taxes Act 1988 (unilateral relief) in accordance with sub-paragraphs (2) and (3).E+W+S+N.I.

(2)In subsection (6) (dividend paid to company resident in United Kingdom) for “company resident in the United Kingdom" substitute “ company falling within subsection (6A) below ”.

(3)After subsection (6) insert—

“(6A)A company falls within this subsection if—

(a)it is resident in the United Kingdom; or

(b)it is resident outside the United Kingdom but the dividend mentioned in subsection (6) above forms part of the profits of a branch or agency of the company’s in the United Kingdom.”

(4)Amend section 794 of the Taxes Act 1988 (requirement as to residence) in accordance with sub-paragraphs (5) and (6).

(5)In subsection (2) (cases where credit may be allowed by way of unilateral relief) after paragraph (b) insert—

“(bb)for tax paid under the law of any territory outside the United Kingdom in respect of the income or chargeable gains of a branch or agency in the United Kingdom of a person who is not resident in the United Kingdom, where the following conditions are fulfilled, namely—

(i)that the territory under whose law the tax was paid is not one in which the person is liable to tax by reason of domicile, residence or place of management; and

(ii)that the amount of relief claimed does not exceed (or is by the claim expressly limited to) that which would have been available if the branch or agency had been a person resident in the United Kingdom and the income or gains in question had been income or gains of that person.”

(6)Omit subsection (2)(c) (which is superseded by the amendment made by sub-paragraph (5)).

(7)Amend section 801 of the Taxes Act 1988 (dividends paid between related companies: relief for UK and third country taxes) in accordance with sub-paragraphs (8) and (9).

(8)In subsection (1) (dividend paid to company resident in the United Kingdom)—

(a)for “company resident in the United Kingdom (“the United Kingdom company”)" substitute “ company falling within subsection (1A) below (“the relevant company”) ”; and

(b)for “to the United Kingdom company" substitute “ to the relevant company ”.

(9)After subsection (1) insert—

“(1A)A company falls within this subsection if—

(a)it is resident in the United Kingdom; or

(b)it is resident outside the United Kingdom but the dividend mentioned in subsection (1) above forms part of the profits of a branch or agency of the company’s in the United Kingdom.”

(10)Amend section 801A of the Taxes Act 1988 (restriction of relief for underlying tax) in accordance with sub-paragraphs (11) and (12).

(11)In subsection (1)(a) (company resident in United Kingdom making claim for allowance by way of credit) for “a company resident in the United Kingdom (“the United Kingdom company”)" substitute “ a company (“the claimant company”) ”.

(12)In subsections (2), (7) and (11), for “the United Kingdom company" substitute “ the claimant company ”.

(13)In Schedule 19AC to the Taxes Act 1988 (modification of Act in relation to overseas life insurance companies) amend paragraph 13 (which notionally inserts certain provisions into section 794) as follows—

(a)omit sub-paragraph (1) (which notionally inserts subsection (2)(d));

(b)in sub-paragraph (2) (which notionally inserts subsections (3) and (4)) in the words preceding the notionally inserted subsections, for “subsections shall be treated as inserted after that subsection" substitute “ subsection shall be treated as inserted after subsection (2) of section 794 ”;

(c)omit the subsection (3) notionally inserted by sub-paragraph (2);

(d)in the subsection (4) notionally inserted by sub-paragraph (2), for “subsection (2)(d)" substitute “ subsection (2)(bb) ”.

(14)The amendments made by this paragraph have effect in relation to[F1chargeable periods] ending on or after 21st March 2000.

Annotations:

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Amendments (Textual)

F1Words in Sch. 30 para. 4(14) substituted (retrospectively) by 2001 c. 9, s. 83, Sch. 27 para. 7