Part 2Income tax, corporation tax and capital gains tax

Chapter 6Miscellaneous

Miscellaneous

46Energy Act 2004 and Health Protection Agency Act 2004

1

This section provides for certain enactments to cease to have effect which relate to—

a

the United Kingdom Atomic Energy Authority (“UKAEA”),

b

the National Radiological Protection Board (“NRPB”), or

c

pension schemes run by UKAEA.

2

In ICTA the following provisions shall cease to have effect—

a

section 349B(3)(g) (no deduction of tax from certain payments to UKAEA);

b

section 349B(3)(h) (no deduction of tax from certain payments to NRPB);

c

section 512(1) and (3) (certain exemptions from income tax and corporation tax for UKAEA and NRPB);

d

section 512(2) (treatment of certain income of pension schemes run by UKAEA).

3

In section 271(7) of TCGA 1992 (miscellaneous exemptions from tax in respect of chargeable gains)—

a

for “Memorial Fund, the” substitute “ Memorial Fund and the ”;

b

omit “, the United Kingdom Atomic Energy Authority”;

c

omit “and the National Radiological Protection Board”;

d

omit from “; and for the purposes” to the end of the subsection (treatment of gains accruing to pension schemes run by UKAEA).

4

In subsection (2)—

a

paragraph (a) has effect in relation to payments made on or after 1st April 2005;

b

paragraph (b) has effect in relation to payments made after 1st April 2005;

c

paragraph (c), so far as relating to UKAEA, has effect on and after 1st April 2005;

d

paragraph (c), so far as relating to NRPB, has effect after 1st April 2005;

e

paragraph (d) has effect in relation to income arising on or after 1st April 2005.

5

In subsection (3)—

a

paragraphs (a) and (c) have effect in relation to gains accruing after 1st April 2005;

b

paragraphs (b) and (d) have effect in relation to gains accruing on or after 1st April 2005.

6

The repeal of subsection (3)(g) of section 349B of ICTA does not affect the application of any other provision of that section in relation to UKAEA.

7

Nothing in this section affects—

a

any accounting period of UKAEA ending before 1st April 2005, or

b

any accounting period of NRPB ending on or before 1st April 2005.