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Finance Act 2008

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Commencement Orders yet to be applied to the Finance Act 2008

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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.

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Commencement Orders bringing legislation that affects this Act into force:

TMA 1970E+W+S+N.I.

1TMA 1970 is amended as follows.E+W+S+N.I.

2(1)Section 12B (records to be kept for purposes of income tax and capital gains tax returns) is amended as follows.E+W+S+N.I.

(2)In subsection (2)—

(a)in paragraph (b), for “in any other case” substitute “ otherwise ”, and

(b)after that paragraph insert— “ or (in either case) such earlier day as may be specified in writing by the Commissioners for Her Majesty's Revenue and Customs (and different days may be specified for different cases). ”

(3)In subsection (3), omit paragraph (b) and the “and” before it.

(4)After that subsection insert—

(3A)The Commissioners for Her Majesty's Revenue and Customs may by regulations—

(a)provide that the records required to be kept and preserved under this section include, or do not include, records specified in the regulations, and

(b)provide that those records include supporting documents so specified.

(5)For subsection (4) substitute—

(4)The duty under subsection (1) or (2A) to preserve records may be discharged—

(a)by preserving them in any form and by any means, or

(b)by preserving the information contained in them in any form and by any means,

subject to subsection (4A) and any conditions or further exceptions specified in writing by the Commissioners for Her Majesty's Revenue and Customs.

(6)In subsection (4A), for “The records which fall within this subsection are” substitute “ Subsection (4)(b) does not apply in the case of the following kinds of records ”.

(7)After subsection (5B) insert—

(5C)Regulations under this section may—

(a)make different provision for different cases, and

(b)make provision by reference to things specified in a notice published by the Commissioners for Her Majesty's Revenue and Customs in accordance with the regulations (and not withdrawn by a subsequent notice).

3(1)Paragraph 2A of Schedule 1A (records to be kept for the purposes of claims) is amended as follows.E+W+S+N.I.

(2)After sub-paragraph (2) insert—

(2A)The Commissioners for Her Majesty's Revenue and Customs may by regulations—

(a)provide that the records required to be kept and preserved under sub-paragraph (1) include, or do not include, records specified in the regulations, and

(b)provide that those records include supporting documents so specified.

(3)For sub-paragraph (3) substitute—

(3)The duty under sub-paragraph (1) to preserve records may be discharged—

(a)by preserving them in any form and by any means, or

(b)by preserving the information contained in them in any form and by any means,

subject to sub-paragraph (3A) and any conditions or further exceptions specified in writing by the Commissioners for Her Majesty's Revenue and Customs.

(3A)Sub-paragraph (3)(b) does not apply in the case of records of the kinds specified in section 12B(4A) or paragraph 22(3) of Schedule 18 to the Finance Act 1998.

(4)Insert at the end—

(6)Regulations under this paragraph may—

(a)make different provision for different cases, and

(b)make provision by reference to things specified in a notice published by the Commissioners for Her Majesty's Revenue and Customs in accordance with the regulations (and not withdrawn by a subsequent notice).

(7)In this paragraph “supporting documents” includes accounts, books, deeds, contracts, vouchers and receipts.

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