Details of the Section
2.Subsection (1) sets out the scope of the power.
3.Subsection (3) provides that regulations made under this power may in particular make provision about a number of particular areas as identified in subsections (a) to (h) including reliefs, exemptions and countering avoidance.
4.Subsection (4) provides that the regulations may modify enactments and instruments relating to tax; make any incidental, consequential, supplemental or transitional provisions that may be required including different provisions for different cases or different purposes.
5.Subsection (5) allows for such regulations to have unlimited retrospective effect subject to the condition that they do not increase any person’s liability to tax.