Finance Act 2011

Part 6 Consequential provisions

TMA 1970

51 (1) TMA 1970 is amended as follows.

(2) Omit—

(a) section 13 (persons in receipt of taxable income belonging to others),

(b) section 14 (return of lodgers and inmates),

(c) section 15 (return of employees’ earnings etc),

(d) section 15A (non-resident’s staff are UK client’s employees for section 15 purposes),

(e) section 16 (fees, commissions etc),

(f) section 16A (agency workers),

(g) section 17 (interest paid or credited by banks, building societies etc without deduction of income tax),

(h) section 18 (interest paid without deduction of income tax),

(i) section 18A (other payments and licences etc),

(j) section 19 (information for purposes of charge on profits of UK property businesses or under Schedule A),

(k) section 21 (stock jobbers’ transactions),

(l) section 23 (power to obtain copies of registers of securities),

(m) section 24 (power to obtain information as to income from securities),

(n) section 25 (issuing houses, stockbrokers, auctioneers etc),

(o) section 26 (nominee shareholders),

(p) section 27 (settled property),

(q) section 76 (protection for certain trustees, agents and receivers), and

(r) section 77I (information from petroleum licence-holders).

(3) In the Table in section 98 (special returns etc), omit the entries (so far as they continue to have effect) relating to—

(a) section 77I of TMA 1970,

(b) paragraph 2 of Schedule 15 to FA 1973,

(c) sections 42, 217(4), 226(4) and 768(9) of ICTA,

(d) paragraph 3 of Schedule 12 to FA 1989,

(e) sections 302B and 647 of ITTOIA 2005,

(f) section 241 of CTA 2009, and

(g) sections 728, 1046(5) to (7) and 1097(1) and (2) of CTA 2010.

(4) In that Table—

(a) for the entry relating to section 31 of CTA 2010 substitute the following entry—

• “Section 31(3) and (4) of CTA 2010.”,

(b) for the entry relating to section 465 of CTA 2010 substitute the following entry—

• “Section 465(3) and (4) of CTA 2010.”, and

(c) for the entry relating to section 1102 of CTA 2010 substitute the following entry—

• “Section 1102(4) and (5) of CTA 2010.”

(5) In section 103ZA (disapplication of sections 100 to 103)—

(a) omit “or” at the end of paragraph (d), and

(b) at the end of paragraph (e) insert “, or

(f) Schedule 23 to FA 2011 (data-gathering powers).”

FA 1973

52 In Schedule 15 to FA 1973 (territorial extension of charge to tax: supplementary provisions), omit paragraph 2 so far as it continues to have effect (see section 381 of TIOPA 2010).

FA 1974

53 (1) In section 24 of FA 1974 (returns of persons treated as employees), for the words from “section 15” to the end substitute “any notice given under section 8 of the Taxes Management Act 1970 to the person performing the duties (P) may require a return of P’s income to include particulars of any general earnings paid to P.”

(2) Sub-paragraph (1) applies so far as section 24 of FA 1974 continues to have effect (see section 381 of TIOPA 2010).

FA 1986

54 In Schedule 18 to FA 1986 (securities: other provisions), omit paragraph 8(4) and (5).

ICTA

55 Omit the following provisions of ICTA so far as they continue to have effect (see section 1184 of CTA 2010 and section 381 of TIOPA 2010)—

(a) section 42(7) (information required to decide whether to give provisional notice of determination),

(b) section 217(4) (information about person for whom chargeable payment is received),

(c) section 226(4) (information about purchase by unquoted trading company of its own shares),

(d) section 768(9) (information about change in ownership of company: disallowance of trading losses), and

(e) section 816(3) (disapplication of bank exemption).

FA 1989

56 In Schedule 12 to FA 1989 (close companies), omit paragraph 3 so far as it continues to have effect (see section 1184 of CTA 2010).

ITTOIA 2005

57 (1) ITTOIA 2005 is amended as follows.

(2) In Chapter 4 of Part 3 (profits of property businesses: lease premiums etc), omit section 302B(3) and (4).

(3) In Chapter 5 of Part 5 (settlements: amounts treated as income of settlor), omit section 647.

FA 2005

58 In Schedule 2 to FA 2005 (alternative finance arrangements: further provisions), omit paragraph 2 so far as it continues to have effect (see section 1329 of CTA 2009).

CRCA 2005

59 In Schedule 2 to CRCA 2005 (functions of Commissioners and officers: restrictions etc), omit paragraph 2.

FA 2008

60 FA 2008 is amended as follows.

61 In section 39 (dormant bank and building society accounts), in subsection (1), omit paragraph (a).

62 (1) Schedule 36 (information and inspection powers) is amended as follows.

(2) Omit paragraph 34A.

(3) In paragraph 61A (involved third parties)—

(a) in sub-paragraph (2), omit ““relevant information”,”,

(b) in each entry in the second column of the Table, for “Information and documents” substitute “Documents”, and

(c) accordingly, in the heading of that column, omit “information and relevant”.

CTA 2009

63 In Chapter 4 of Part 4 of CTA 2009 (profits of property businesses: lease premiums etc), omit section 241(3) and (4).

CTA 2010

64 (1) CTA 2010 is amended as follows.

(2) Omit—

(a) section 31(1) (companies with small profits: power to obtain information),

(b) section 465(1) (close companies: power to obtain information),

(c) section 728 (provision of information about ownership of shares etc),

(d) section 1046(5) to (7) (information about purchase by unquoted trading company of its own shares),

(e) section 1097 (information about person for whom chargeable payment is received), and

(f) section 1102(2) (non-qualifying distributions etc: additional information).

(3) In section 1109 (tax credits for certain recipients of exempt qualifying distributions), in subsection (4), for “1102(2)” substitute “1102(3)”.