Amendments to the Finance Act 20047
1
The Finance Act 2004 is amended as follows.
2
In section 22711 (annual allowance charge), in subsection (4A)—
a
in paragraph (a) after “the basic rate” in the first place it occurs, insert “or, in the case of a Scottish taxpayer, the Scottish basic rate”;
b
in paragraph (b) after “the higher rate” in the first place it occurs, insert “or, in the case of a Scottish taxpayer, the Scottish higher rate”; and
c
in paragraph (c) after “the additional rate”, insert “or, in the case of a Scottish taxpayer, the Scottish additional rate”.
3
In section 237B12 (liability of scheme administrator for annual allowance charge), in subsection (4)—
a
in paragraph (a)—
i
after “the additional rate” in the first place it occurs, insert “or the Scottish additional rate”; and
ii
after “the additional rate” in the second place it occurs, insert “or, in the case of a Scottish taxpayer, the Scottish additional rate,”;
b
in paragraph (b)—
i
after “the higher rate” in the first place it occurs insert “or the Scottish higher rate”; and
ii
after “the higher rate” in the second place it occurs insert “or, in the case of a Scottish taxpayer, the Scottish higher rate”; and
c
in paragraph (c) after “basic rate” insert “or, in the case of a Scottish taxpayer, the Scottish basic rate”.
4
In section 280 (abbreviations and general index), in subsection (2) after the entry relating to “scheme sanction charge” insert—
Scottish additional rate
section 6A of ITA 2007 (as applied by section 989 of that Act)
Scottish basic rate
section 6A of ITA 2007 (as applied by section 989 of that Act)
Scottish higher rate
section 6A of ITA 2007 (as applied by section 989 of that Act)
Scottish taxpayer
section 989 of ITA 2007