Finance Act 1982
Part I
Customs and Excise
1
Duties on spirits, beer, wine, made-wine and cider.
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Hydrocarbon oil, etc.
4
Aviation gasoline.
5
Vehicles excise duty: Great Britain.
6
Vehicles excise duty: Northern Ireland.
7
Additional liability in relation to alteration of vehicle or its use.
8
Betting and gaming duties.
9
Immature spirits for home use and loss allowance for imported beer.
10
Regulator powers.
11
Power of Commissioners with respect to agricultural levies etc.
12
Delegation of Commissioners’ functions.
Part II
13—17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18, 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part III
Income Tax, Corporation Tax and Capital Gains Tax
Chapter I
General
20—26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27
Termination of the option mortgage schemes.
28—67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
68
Postponement of recovery of tax.
69
(1) In section 86 of the Taxes Management Act 1970...
Chapter II
70–79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Chapter III
Capital Gains
80
Increase and indexation of annual exempt amount.
81
Increase of chattel exemption.
82
Extension of general relief for gifts.
83
Relief on compulsory purchase.
84
Termination of life interest etc.
85. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
86
Indexation allowance on certain disposals.
87
Calculation of indexation allowance.
88
Identification of securities etc. disposed of: general rules.
89
(1) Where, in a case of a man and his...
Part IV
90—127. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part V
Stamp Duty
128
Reduction of duty on conveyances and leases.
129
Exemption from duty on grants, transfers to charities, etc.
130. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
131. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part VI
Oil Taxation
Chapter I
General
132
Increase of petroleum revenue tax and ending of supplementary petroleum duty.
133
Export sales of gas.
134
Alternative valuation of ethane used for petrochemical purposes.
135
Determination of oil fields.
136. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
137
Expenditure met by regional development grants to be disregarded for certain purposes.
138. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Chapter II
Advance Petroleum Revenue Tax
139
Liability for APRT and credit against liability for petroleum revenue tax.
140
Increase of gross profit by reference to royalties in kind.
141
Reduction of gross profit by reference to exempt allowance.
142
Consequences of crediting APRT against liability for petroleum revenue tax.
Part VII
Miscellaneous and Supplementary
143. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
144
(1) . . . . . . . . ....
145
Certificates of tax deposit: extension of interest period.
146. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
147. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
148
Transfer of assets of Hops Marketing Board.
149
Recovery of overpayment of tax, etc.
150
Investment in gilt-edged unit trusts.
151
National savings accounts.
152
Additional power of Treasury to borrow.
153
Variable rates of interest for government lending.
154. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
155. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
156
Dissolution of Board of Referees.
157
Short title, interpretation, construction and repeals.
Schedules
SCHEDULE 1
Wine: Rates of Duty
. . . . . . . . . ....
SCHEDULE 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SCHEDULE 3
I
Provisions Substituted for Part II of Schedule 1
II
Provisions Substituted for Part II of Schedule 2
III
Provisions Substituted for Part II of Schedule 3
IV
Provisions Substituted for Part II of Schedule 4Tables Showing Annual Rates of Duty on Goods Vehicles
Table A
General Rates of Duty
Table B
Rates of Duty on Goods Vehicles Used for Drawing Trailers
V
Provisions Substituted for Part II of Schedule 5
Schedule 4
(repealed 1.10.1991) . . .
I
Provisions Substituted for Part II of Schedule 1
II
Provisions Substituted for Part II of Schedule 2
III
Provisions Substituted for Part II of Schedule 3
IV
Provisions Substituted for Part II of Schedule 4Tables Showing Annual Rates of Duty on Goods Vehicles
Table A
General Rates of Duty
V
Provisions Substituted for Part II of Schedule 5
Schedule 5
Annual Rates of Duty on Goods Vehicles
Part A
Part I
General Provisions
Vehicles chargeable at the basic rate of duty
1
(1) Subject to paragraphs 5 and 6 below, the annual...
Vehicles exceeding 7.5 but not exceeding 12 tonnes plated weight
2
Subject to paragraphs 1(1)(c) above and 6 below, the annual...
Rigid goods vehicles exceeding 12 tonnes plated gross weight
3
(1) Subject to the provisions of this Schedule, the annual...
Tractor units exceeding 12 tonnes plated train weight
4
(1) This paragraph applies to a tractor unit which has...
Special types of vehicles
5
(1) This paragraph applies to a goods vehicle—
Farmer’s goods vehicles and showmen’s goods vehicles
6
(1) If the unladen weight of— (a) a farmer’s goods...
Smaller goods vehicles
7
If a goods vehicle— (a) has an unladen weight which...
Vehicles treated as having reduced plated weights
8
(1) The Secretary of State may by regulations provide that,...
Plated and unladen weights
9
(1) Any reference in this Schedule to the plated gross...
Goods vehicles used partly for private purposes
10
(1) Where a goods vehicle is partly used for private...
Exempted vehicles
11
Duty shall not be chargeable by virtue of this Schedule...
12
(1) This paragraph and paragraph 13 below apply to agricultural...
13
(1) This paragraph shall have effect in relation to any...
Tractor units used with semi-trailers having only one axle when duty paid by reference to use with semi-trailers having more than one axle
14
(1) This paragraph applies in any case where—
Interpretation
15
(1) In this Schedule, unless the context otherwise requires— “agricultural...
Part B
Modifications for Northern Ireland
16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule 6
Betting and Gaming Duties
Part I
General
1
In this Schedule— the “1981 Act” means the Betting and...
Part II
2. . . . . . . . . ....
Part III
Gaming Licence Duty
3
In section 14 of the 1981 Act (rate of duty)...
Part IV
Bingo Duty
4
In section 17 of the 1981 Act (bingo duty) in...
5
(1) Schedule 3 to the 1981 Act (exemptions from bingo...
Part V
Gaming Machine Licence Duty
Great Britain
6—8. . . . . . . . . ....
9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10. . . . . . . . . ....
11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
In subsection (6) of section 24 of the 1981 Act...
13
In subsection (4) of section 25 of the 1981 Act...
14
(1) In section 26 of the 1981 Act, in subsection...
15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16. . . . . . . . . ....
17
In paragraph 13 of Schedule 4 to the 1981 Act...
18—24. . . . . . . . . ....
Schedules 7—10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedules 11, 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule 13
Part I
Part disposals
1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Disposals on a no-gain/no-loss basis
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subsequent disposals following no-gain/no-loss disposals
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Receipts etc. which are not treated as disposals but affect relevant allowable expenditure
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reorganisations, reconstructions etc.
5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Calls on shares etc.
6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Options
7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part II
8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedules 14—17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SCHEDULE 18
Alternative Valuation of Ethane Used for Petrochemical Purposes
The election
1
(1) An election shall be made— (a) in so far...
Conditions for acceptance of an election
2
(1) Subject to sub-paragraphs (2) and (3) below, the Board...
3
(1) In paragraph 2 above “relevant contract” means a contract...
Notice of acceptance or rejection
4
(1) Notice of the acceptance or rejection of an election...
Market value ceasing to be readily ascertainable
5
(1) In any case where— (a) it appears to the...
Price formula ceasing to give realistic market values
6
(1) If, at any time after the expiry of the...
Acceptance or rejection of new price formula
7
(1) Subject to sub-paragraph (3) below, the Board shall accept...
8
(1) Where the Board give notice to any person or...
Returns
9
In any case where a notice under paragraph 5(1)(b) above...
Penalties for incorrect information etc.
10
(1) Schedule 24 to the Finance Act 2007 (which penalises...
Interpretation
11
(1) Subsection (6) of section 134 of this Act has...
Schedule 19
Supplementary Provisions Relating to APRT
Part I
Collection of Tax
Payment of tax
1
(1) APRT which a participator is liable to pay in...
2
(1) Subject to sub-paragraph (2) below, if for any chargeable...
3
(1) Subject to paragraph (1A) below If in any month...
4
Certificates of tax deposit issued by the Treasury under section...
Assessments and appeals
5
(1) Where it appears to the Board that any APRT...
6
(1) Where it appears to the Board that any gross...
7
(1) A participator may appeal to the Special Commissioners against...
8
Paragraphs 5(2) to (4) and 7 above shall apply in...
Overpayment of tax
9
(1) Where in respect of any oil field a participator...
Interest
10
(1) APRT payable for a chargeable period but not paid...
Transitional provisions
11
(1) In any case where, by virtue of section 105...
12
(1) Every participator in an oil field shall in March...
13
(1) If, in respect of the chargeable period ending on...
Part II
Miscellaneous
Repayment of APRT
14
(1) If a participator in an oil field has an...
Transfer of interest in fields
15
(1) This paragraph has effect in a case where Part...
Net profit periods
16
(1) For the purposes of sections 111, 112 and 113...
Abandoned fields
17
(1) The provisions of this paragraph apply where—
Part III
Amendments
18
In section 2 of the principal Act, at the beginning...
19
(1) In paragraph 13 of Schedule 2 to the principal...
20
In sub-paragraph (2) and (4) of paragraph 5 of Schedule...
21
In section 1 of the Petroleum Revenue Tax Act 1980...
Schedule 20
National Savings Accounts
1
The National Savings Bank Act 1971 shall have effect subject...
2
In subsection (2) of section 3 (provisions as to investment...
3
(1) In section 4 (power by order to limit amount...
4
(1) In subsection (1) of section 5 (interest on ordinary...
5
(1) In section 6 (interest on investment deposits) at the...
6
In section 7 (withdrawal of deposits)— (a) in subsection (1)...
7
In subsection (1) of section 8 (matters which may be...
8
In section 27 (interpretation) after the definition of “the Commissioners”...
SCHEDULE 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SCHEDULE 22
Repeals
Part I
Miscellaneous Customs and Excise and Value Added Tax
Part II
Vehicles Excise Duty
Part III
Gaming Machine Licence Duty
Part IV
Income and Corporation Tax: General
1
The repeals of sections 131(6) and 249(5) of the Income...
2
The repeals in section 36 and 36A of the Finance...
Part V
Option Mortgage Schemes
Part VI
Capital Gains
Part VII
Capital Transfer Tax
1
The repeals of— (a) section 26(2A) of the Finance Act...
2
The repeal of paragraph 12(1) and (2) of Schedule 5...
3
The remaining repeals, except those in section 86 of the...
Part VIII
Stamp Duty
Part IX
Oil Taxation
1
The repeal in section 12(3) of the Oil Taxation Act...
2
The repeal of section 105 of the Finance Act 1980...
3
The repeal of sections 122 to 128 of and Schedule...
Part X
Board of Referees
Part XI
Spent Enactments

Finance Act 1982
1982 c. 39
An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.
[30th July, 1982]
Most Gracious Sovereign,
WE, Your Majesty’s most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards raising the necessary supplies to defray Your Majesty’s public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
General amendments to Tax Acts, Income Tax Acts, and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) but not against each Act
Act partly in force at Royal Assent, partly retrospective; all provisions so far as unrepealed fully in force at 1.2.1991. Some sections came into force at specific times of the day.
The text of ss. 1–4, 9–12, Schs. 1, 2, 22 Pts. I, II was taken from S.I.F. Group 40:1 (Customs and Excise: Customs and Excise Duties), ss. 5–7, Schs. 3–5 from S.I.F. Group 107:2 (Road Traffic: Vehicle Excise Duty), s. 8, Schs. 6, 22 Pt. III from S.I.F. Group 12:2 (Betting, Gaming and Lotteries: Betting and Gaming Duties), ss. 20–79, 132–142, 146, 149–151, 156, 157(5)(7), Schs. 7–12, 18–21, 22 Pts. IV, V, IX–XI from S.I.F. Group 63:1 (Income, Corporation and Capital Gains Taxes: Income and Corporation Taxes), ss. 80–89, 148, Schs. 13, 22 Pt. VI from S.I.F. Group 63:2 (Income, Corporation and Capital Gains Taxes: Capital Gains Tax), ss. 128–131, Sch. 22 Pt. VIII from S.I.F. Group 114 (Stamp Duty), ss. 145, 152–154 from S.I.F. Group 99:3 (Public Finance and Economic Controls: National Debt), Sch. 22 Pt. VII from S.I.F. Group 65 (Inheritance Tax), s. 144 from S.I.F Group 96 (Posts and Telecommunications), s. 157(2)(3) appeared in both S.I.F. sub-groups 63:1 and 63:2, s. 157(6) appeared in S.I.F. Groups 40:1, 12:2, 63:1 and 2, 114, 65 and s. 157(1) appeared in all S.I.F. Groups previously listed; provisions omitted from S.I.F. have been dealt with as referred to in other commentary