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Income and Corporation Taxes Act 1988

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Income and Corporation Taxes Act 1988, PART IV is up to date with all changes known to be in force on or before 19 March 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.

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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

  • s. 109A(4B) inserted by 2005 c. 7 Sch. 4 para. 6(3) (This amendment not applied to legislation.gov.uk. The amending provision (2005 c. 7, Sch. 4 para. 6) repealed retrospectively by 2005 c. 22, Sch. 6 para. 4(1)(6))
  • Sch. 19AB para. 5(5)(a)(b) words substituted by S.I. 2001/3629 art. 52(2)(n) (This amendment not applied to legislation.gov.uk. The words to be substituted do not occur in Sch. 19AB para. 5)

PART IVU.K. PROVISIONS RELATING TO THE SCHEDULE D CHARGE

CHAPTER IU.K. SUPPLEMENTARY CHARGING PROVISIONS

53 Farming and other commercial occupation of land (except woodlands).U.K.

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1S. 53 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 20, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F254 Woodlands managed on a commercial basis.U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2S. 54 repealed (15.3.1988) by Finance Act 1988 (c. 39), Sch. 14 Pt. 5, Note 2

55 Mines, quarries and other concerns.U.K.

F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F3S. 55 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 21, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

56 Transactions in deposits with and without certificates or in debts.U.K.

(1)M1M2Subsection (2) below applies to the following rights—

(a)the right to receive the amount, with or without interest, stated in a certificate of deposit;

(b)the right to receive an amount payable with interest—

(i)in a transaction in which no certificate of deposit or security is issued, and

(ii)which is payable by a bank or similar institution or a person regularly engaging in similar transactions;

and the right to receive that interest.

(2)M3Profits or gains arising to a [F4company] from the disposal of a right to which this subsection applies or, except so far as it is a right to receive interest, from the exercise of any such right (whether by the person to whom the certificate was issued or by some other person, or, as the case may be, by the person who acquired the right in the transaction referred to in subsection (1) above or by some person acquiring it directly or indirectly from that person), shall, if not falling to be taken into account as a trading receipt, be treated as [F5an amount to which the charge to corporation tax on income applies].

(3)M4Subsection (2) above [F6and section 551 of ITTOIA 2005 (charge to income tax on profits from disposal of deposit rights) do] not apply in the case of the disposal or exercise of a right to receive an amount stated in a certificate of deposit or interest on such an amount—

(a)if the [F7company] disposing of the right acquired it before 7th March 1973;

(b)to any profits or gains arising to a fund or scheme in the case of which provision is made by section [F8613(4) or 614(2) or (3) or section 186 of the Finance Act 2004] for exempting the whole or part of its income from income tax;

(c)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F10(3A)F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3B)F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3C)F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3D)F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(4)F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F13(4A)This section and section 56A shall not apply for the purposes of corporation tax except in relation to rights in existence before 1st April 1996.

(4B)For the purposes of corporation tax, where any profits or gains arising from the disposal or exercise of a right in existence before 1st April 1996 are, or (if there were any) would be, chargeable under this section, nothing in [F14Part 5 of CTA 2009] (loan relationships) shall require any amount relating to that disposal, or to the exercise of that right, to be brought into account for the purposes of [F14that Part].]

(5)M5 In this section—

  • certificate of deposit” means a document relating to money, in any currency, which has been deposited with the issuer or some other person, being a document which recognises an obligation to pay a stated amount to bearer or to order, with or without interest, and being a document by the delivery of which, with or without endorsement, the right to receive that stated amount, with or without interest, is transferable; and

  • security” has the same meaning as in section [F15132 of the 1992 Act].

Textual Amendments

F4Word in s. 56(2) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 34(2)(a) (with Sch. 2)

F5Words in s. 56(2) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 22(2) (with Sch. 2 Pts. 1, 2)

F6Words in s. 56(3) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 34(3)(a) (with Sch. 2)

F7Word in s. 56(3)(a) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 34(3)(b) (with Sch. 2)

F8Words in s. 56(3)(b) substituted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 4 (with Sch. 36)

F9S. 56(3)(c) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 8, Sch. 3 Pt. 1 (with Sch. 2)

F11S. 56(3A)-(3D) repealed (with effect in accordance with s. 79(3) of the repealing Act) by Finance Act 2002 (c. 23), s. 141, Sch. 40 Pt. 3(10), Note

F12S. 56(4) omitted (21.7.2008) by virtue of Finance Act 2008 (c. 9), Sch. 17 para. 24(1)

F13S. 56(4A)(4B) inserted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), s. 104, Sch. 14 para. 6 (with Sch. 15)

F14Words in s. 56(4B) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 22(3) (with Sch. 2 Pts. 1, 2)

F15Words in s. 56(5) substituted (6.3.1992 with effect as mentioned in s. 289(1)(2) of the amending Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch. 10 para. 14(3) (with ss. 60, 101(1), 171, 201(3)).

Modifications etc. (not altering text)

Marginal Citations

M1SOURCE-1973 s. 26(1)

M2SOURCE-1974 s. 30(1)

M3SOURCE-1973 s. 26(1); 1974 s. 30(1)

M4SOURCE-1973 s. 26(1)(a)(b); 1975 (No. 2) s. 50(1)

M5SOURCE-1973 s. 26(4); 1974 s. 30(2), (1); 1968 s. 55(3); 1979(C) Sch. 7

[F1656A Disposal or exercise of rights in pursuance of deposits.U.K.

(1)This section applies where there is an arrangement under which—

(a)there is a right to receive an amount (with or without interest)

in pursuance of a deposit of money,

(b)when the right comes into existence there is no certificate of deposit in respect of the right, and

(c)the person for the time being entitled to the right is entitled to call for the issue of a certificate of deposit in respect of the right.

(2)In such a case—

(a)the right shall be treated as not falling within section 56(1)(b), and

(b)if there is a disposal or exercise of the right before such time (if any) as a certificate of deposit is issued in respect of it, section 56(2) shall apply to it by virtue of this paragraph.

(3)In the application of section 56 by virtue of this section—

(a)subsection (2) shall have effect as if the words from “(whether” to “person)” read “(whether by the person originally entitled to the right or by some other person)”, and

(b)subsection (3) shall have effect as if the words “stated in a certificate of deposit” read “under an arrangement”.

(4)In this section “certificate of deposit” has the meaning given by section 56(5).]

Textual Amendments

F16S. 56A inserted (with application in relation to arrangements made after 16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 34, Sch. 8 paras.1, 6.

57 Deep discount securities.U.K.

F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F17S. 57 repealed (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. 5(3), Note

58 Foreign pensions.U.K.

F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F18S. 58 repealed (6.4.2003 with effect in accordance with s. 723(1) of the repealing Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 8, Sch. 8 Pt. 1 (with Sch. 7)

59 Persons chargeable.U.K.

(1)F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F19S. 59(1)(2) repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 35(2), Sch. 3 (with Sch. 2)

F20S. 59(3)(4) repealed (1.4.2010 with effect in accordance with s. 381(1) of the repealing Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), Sch. 8 para. 292, Sch. 10 Pt. 13 (with Sch. 9 Pts. 1, 2)

CHAPTER IIU.K. INCOME TAX: BASIS OF ASSESSMENT ETC.

Cases I and IIU.K.

60 Assessment on current year basis.U.K.

F21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F21Ss. 60-63A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 36, Sch. 3 (with Sch. 2)

61 Basis of assessment at commencement.U.K.

F22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F22Ss. 60-63A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 36, Sch. 3 (with Sch. 2)

62 Change of basis period.U.K.

F23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F23Ss. 60-63A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 36, Sch. 3 (with Sch. 2)

[F2462A Conditions for such a change.U.K.

F25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F24S. 62A inserted (with effect in accordance with s. 218 of the amending Act) by Finance Act 1994 (c. 9), s. 203 (with Sch. 20)

F25Ss. 60-63A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 36, Sch. 3 (with Sch. 2)

63 Basis of assessment on discontinuance.U.K.

F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F26Ss. 60-63A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 36, Sch. 3 (with Sch. 2)

[F2763A Overlap profits and overlap losses.U.K.

F28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F27S. 63A inserted (with effect in accordance with s. 218 of the amending Act) by Finance Act 1994 (c. 9), s. 205 (with Sch. 20)

F28Ss. 60-63A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 36, Sch. 3 (with Sch. 2)

Cases III, IV and VU.K.

64 Case III assessments.U.K.

F29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F29S. 64 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 37, Sch. 3 (with Sch. 2)

65 Cases IV and V assessments: general.U.K.

F30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F30S. 65 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 38, Sch. 3 (with Sch. 2)

[F3165A Case V income from land outside UK: income tax.U.K.

F32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F31S. 65A inserted (with effect in accordance with s. 41(5)-(10) of the amending Act) by Finance Act 1995 (c. 4), s. 41(2)

F32S. 65A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 39, Sch. 3 (with Sch. 2)

66 Special rules for fresh income.U.K.

F33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F33S. 66 repealed (with effect in accordance with s. 218(1) of the repealing Act) by Finance Act 1994 (c. 9), ss. 207(4), 258, Sch. 26 Pt. 5(24), Note 7 (with Sch. 20)

67 Special rules where source of income disposed of or yield ceases.U.K.

F34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F34S. 67 repealed (with effect in accordance with s. 218(1) of the repealing Act) by Finance Act 1994 (c. 9), ss. 207(4), 258, Sch. 26 Pt. 5(24), Note 7 (with Sch. 20)

68 Special rules where property etc. situated in Republic of Ireland.U.K.

F35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F35S. 68 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 40, Sch. 3 (with Sch. 2)

[F3668AShare incentive plans: application of section 68BU.K.

F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F36Ss. 68A-68C inserted (6.4.2003 with effect in accordance with s. 723(1) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 10 (with Sch. 7)

F37Ss. 68A-68C repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 41, Sch. 3 (with Sch. 2)

68BShare incentive plans: cash dividends and dividend sharesU.K.

F38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F36Ss. 68A-68C inserted (6.4.2003 with effect in accordance with s. 723(1) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 10 (with Sch. 7)

F38Ss. 68A-68C repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 41, Sch. 3 (with Sch. 2)

68CShare incentive plans: interpretationU.K.

F39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F36Ss. 68A-68C inserted (6.4.2003 with effect in accordance with s. 723(1) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 10 (with Sch. 7)

F39Ss. 68A-68C repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 41, Sch. 3 (with Sch. 2)

Case VIU.K.

69 Case VI assessments.U.K.

F40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F40S. 69 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 42, Sch. 3 (with Sch. 2)

CHAPTER IIIU.K. CORPORATION TAX: BASIS OF ASSESSMENT ETC

70 Basis of assessment etc.U.K.

F41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F41S. 70 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 23, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F4270A Case V income from land outside UK: corporation tax.U.K.

F43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F42S. 70A inserted (with effect in accordance with s. 38(2)(3) of the amending Act) by Finance Act 1998 (c. 36), s. 38(1), Sch. 5 para. 25 (with Sch. 5 para. 73)

F43S. 70A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 24, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

CHAPTER IVU.K. PROVISIONS SUPPLEMENTARY TO CHAPTERS II AND III

71 Computation of income tax where no profits in year of assessment.U.K.

F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F44S. 71 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 43, Sch. 3 (with Sch. 2)

72 Apportionments etc. for purposes of Cases I, II and VI.U.K.

F45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F45S. 72 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 25, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

73 Single assessments for purposes of Cases III, IV and V.U.K.

F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F46S. 73 repealed (with effect in accordance with s. 103(7) of the repealing Act) by Finance Act 1995 (c. 4), ss. 115(09), 162, Sch. 29 Pt. 8(14), Note 2

CHAPTER VU.K. COMPUTATIONAL PROVISIONS

DeductionsU.K.

74 General rules as to deductions not allowable.U.K.

F47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F47S. 74 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 26, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

75Expenses of management: companies with investment businessU.K.

F48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F48S. 75 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 27, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F4975AAccounting period to which expenses of management are referableU.K.

F50. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F49S. 75A inserted (with effect in accordance with ss. 42, 43 of the amending Act) by Finance Act 2004 (c. 12), s. 39

F50S. 75A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 28, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F5175BAmounts reversing expenses of management deducted: charge to taxU.K.

F52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F51S. 75B inserted (22.7.2004) by Finance Act 2004 (c. 12), s. 45(1) (with s. 45(2)(3))

F52S. 75B repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 29, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

76Expenses of insurance companiesU.K.

F53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F53S. 76 omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 2 (with Sch. 17)

[F54Payments for restrictive undertakingsU.K.

Textual Amendments

F54S. 76ZA and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 31 (with Sch. 2 Pts. 1, 2)

76ZAPayments for restrictive undertakingsU.K.

F55. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F55S. 76ZA omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 3 (with Sch. 17)

[F56Seconded employeesU.K.

Textual Amendments

F56S. 76ZB and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 32 (with Sch. 2 Pts. 1, 2)

76ZBEmployees seconded to charities and educational establishmentsU.K.

F57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F57S. 76ZB omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 4 (with Sch. 17)

[F58Counselling and retraining expensesU.K.

Textual Amendments

F58S. 76ZC and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 33 (with Sch. 2 Pts. 1, 2)

76ZCCounselling and other outplacement servicesU.K.

F59. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F59Ss. 76ZC-76ZE omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 5 (with Sch. 17)

[F6076ZDRetraining coursesU.K.

F61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F60S. 76ZD inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 34 (with Sch. 2 Pts. 1, 2)

F61Ss. 76ZC-76ZE omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 5 (with Sch. 17)

[F6276ZERetraining courses: recovery of taxU.K.

F63. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]

Textual Amendments

F62S. 76ZE inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 35 (with Sch. 2 Pts. 1, 2)

F63Ss. 76ZC-76ZE omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 5 (with Sch. 17)

[F64Redundancy payments etcU.K.

Textual Amendments

F64S. 76ZF and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 36 (with Sch. 2 Pts. 1, 2)

76ZFRedundancy payments and approved contractual paymentsU.K.

F65. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F65Ss. 76ZF-76ZJ omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 6 (with Sch. 17)

[F6676ZGPayments in respect of employment wholly in employer's businessU.K.

F67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F66S. 76ZG inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 37 (with Sch. 2 Pts. 1, 2)

F67Ss. 76ZF-76ZJ omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 6 (with Sch. 17)

[F6876ZHPayments in respect of employment in more than one capacityU.K.

F69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F68S. 76ZH inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 38 (with Sch. 2 Pts. 1, 2)

F69Ss. 76ZF-76ZJ omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 6 (with Sch. 17)

[F7076ZIAdditional paymentsU.K.

F71. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F70S. 76ZI inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 39 (with Sch. 2 Pts. 1, 2)

F71Ss. 76ZF-76ZJ omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 6 (with Sch. 17)

[F7276ZJPayments by the GovernmentU.K.

F73. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]

Textual Amendments

F72S. 76ZJ inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 40 (with Sch. 2 Pts. 1, 2)

F73Ss. 76ZF-76ZJ omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 6 (with Sch. 17)

[F74Contributions to local enterprise organisations or urban regeneration companiesU.K.

Textual Amendments

F74S. 76ZK and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 41 (with Sch. 2 Pts. 1, 2)

76ZKContributions to local enterprise organisations or urban regeneration companiesU.K.

F75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F75S. 76ZK omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 7 (with Sch. 17)

[F76Unpaid remunerationU.K.

Textual Amendments

F76S. 76ZL and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 42 (with Sch. 2 Pts. 1, 2)

76ZLUnpaid remunerationU.K.

F77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F77Ss. 76ZL, 76ZM omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 8 (with Sch. 17)

[F7876ZMUnpaid remuneration: supplementaryU.K.

F79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]

Textual Amendments

F78S. 76ZM inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 43 (with Sch. 2 Pts. 1, 2)

F79Ss. 76ZL, 76ZM omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 8 (with Sch. 17)

[F80Car or motor cycle hire]U.K.

Textual Amendments

F80S. 76ZN and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 44 (with Sch. 2 Pts. 1, 2)

[F8176ZNCar or motor cycle hireU.K.

F82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F81S. 76ZN and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 44 (with Sch. 2 Pts. 1, 2)

F82S. 76ZN omitted (with effect in accordance with s. 148(1) of the repealing Act) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 9 (with Sch. 17)

[F8376ZOHiring cars (but not motor cycles) with low CO2 emissions before 1 April 2013U.K.

F84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F83S. 76ZO inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 45 (with Sch. 2 Pts. 1, 2)

F84S. 76ZO omitted (with effect in accordance with Sch. 11 paras. 65-67 of the repealing Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 61

[F8576A Levies and repayments under the Financial Services and Markets Act 2000.U.K.

F86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F86S. 76A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 46, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F8776B Levies and repayments under the Financial Services and Markets Act 2000: investment companies.U.K.

F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F88S. 76B repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 47, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

77 Incidental costs of obtaining loan finance.U.K.

F89. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F89S. 77 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 47, Sch. 3 (with Sch. 2)

78 Discounted bills of exchange.U.K.

F90. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F90S. 78 repealed with saving (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996 (c. 8), Sch. 14 para. 10, Sch. 41 Pt. 5(3), Note (with Sch. 15)

79 Contributions to local enterprise agencies.U.K.

F91. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F91S. 79 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 48, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F9279A Contributions to training and enterprise councils and local enterprise companies.U.K.

F93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F93S. 79A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 49, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F9479BContributions to urban regeneration companiesU.K.

F95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F95S. 79B repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 50, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

80 Expenses connected with foreign trades etc.U.K.

F96. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F96S. 80 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 51, Sch. 3 (with Sch. 2)

81 Travel between trades etc.U.K.

F97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F97S. 81 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 52, Sch. 3 (with Sch. 2)

82 Interest paid to non-residents.U.K.

F98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F98S. 82 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 53, Sch. 3 (with Sch. 2)

[F9982A Expenditure on research and development.U.K.

F100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F99Ss. 82A, 82B inserted (with effect in accordance with s. 68(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 19 para. 5(1) (with Sch. 19 para. 5(2)(3))

F100S. 82A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 51, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F10182B Payments to research associations, universities etc.U.K.

F102. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F101Ss. 82A, 82B inserted (with effect in accordance with s. 68(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 19 para. 5(1) (with Sch. 19 para. 5(2)(3))

F102S. 82B repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 52, Sch. 3 Pt. 1 (with Sch. 2 Pt. 12)

83 Patent fees etc. and expenses.U.K.

F103. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F103S. 83 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 53, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F10483A Gifts in kind to charities etc.U.K.

F105. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F104S. 83A inserted (with effect in accordance with s. 55(3) of the amending Act) by Finance Act 1999 (c. 16), s. 55(1)

F105S. 83A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 54, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

84 Gifts to educational establishments.U.K.

F106. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F106S. 84 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 55, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F10784A Costs of establishing share option or profit sharing schemes: relief.U.K.

F108. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F108S. 84A repealed (1.4.2010 with effect in accordance with s. 381(1) of the repealing Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), Sch. 7 para. 26, Sch. 10 Pt. 12 (with Sch. 9)

85 Payments to trustees of approved profit sharing schemes.U.K.

F109. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F109S. 85 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 57, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F11085A Costs of establishing employee share ownership trusts: relief.U.K.

F111. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F111S. 85A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 58, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F11285BApproved share incentive plansU.K.

F113. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F112S. 85B inserted (6.4.2003 with effect in accordance with s. 723(1) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 12 (with Sch. 7)

F113S. 85B repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 59, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

86 Employees seconded to charities and educational establishments.U.K.

F114. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F114S. 86 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 60, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F11586A Charitable donations: contributions to agent’s expenses.U.K.

F116. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F115S. 86A inserted (27.7.1993) by Finance Act 1993 (c. 34), s. 69

F116S. 86A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 61, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

87 Taxable premiums etc.U.K.

F117. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F117S. 87 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 62, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F11887ASection 87(2) and (3) and reductions in receipts under ITTOIA 2005U.K.

F119. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F118S. 87A inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 63 (with Sch. 2)

F119S. 87A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 62, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

88 Payments to Export Credit Guarantee Department.U.K.

F120. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F120S. 88 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 63, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F12188A Debts of overseas governments etc.U.K.

F122. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F122Ss. 88A-88C repealed (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. 5(3), Note (with Sch. 15)

[F12388B Section 88A debts: restriction on deductions under section 74(j).U.K.

F124. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F124Ss. 88A-88C repealed (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. 5(3), Note (with Sch. 15)

[F12588C Section 88A debts: restriction on other deductions.U.K.

F126. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F126Ss. 88A-88C repealed (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. 5(3), Note (with Sch. 15)

[F12788DRestriction of deductions in respect of certain debtsU.K.

F128. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F127S. 88D inserted (with effect in accordance with s. 80(3)(4) of the amending Act) by Finance Act 2005 (c. 7), Sch. 4 para. 2

F128S. 88D repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 64, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

89Debts proving to be irrecoverable after discontinuance etcU.K.

F129. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F129S. 89 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 65, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

90 Additional payments to redundant employees.U.K.

F130. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F130S. 90 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 66, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

91 Cemeteries.U.K.

F131. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F131S. 91 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 67, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F13291A Waste disposal: restoration payments.U.K.

F133. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F133S. 91A repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 68, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F13491B Waste disposal: preparation expenditure.U.K.

F135. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F135S. 91B repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 69, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F13691BA Waste disposal: entitlement of successor to allowances.U.K.

F137. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F136S. 91BA inserted (28.7.2000) by Finance Act 2000 (c. 17), s. 89

F137S. 91BA repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 69, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F13891C Mineral exploration and access.U.K.

F139. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F138S. 91C inserted (with application in accordance with s. 66(3)(4) of the amending Act) by Finance Act 1997 (c. 16), s. 66(1)

F139S. 91C repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 70, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

Treatment of regional development and other grants and debts released etc.U.K.

92 Regional development grants.U.K.

F140. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F140S. 92 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 71, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

93 Other grants under Industrial Development Act 1982 etc.U.K.

F141. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F141S. 93 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 72, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

94 Debts deducted and subsequently released.U.K.

F142. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F142S. 94 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 73, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

95[F143Taxation of dealers in respect of distributions etc.]U.K.

F144. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F143S. 95 sidenote substituted (with effect in accordance with s. 24(15) of the amending Act) by Finance (No. 2) Act 1997 (c. 58), s. 24(9)

F144S. 95 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 74, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F14595ZATaxation of UK distributions received by insurance companiesU.K.

(1)If the total amount of relevant distributions received by a company in an accounting period exceeds £50,000, those distributions are to be taken into account in calculating for corporation tax purposes the profits of the company in that period (and accordingly [F146[F147section 130(2)] of CTA 2009] does not apply in relation to those distributions).

(2)A company (“company A”) receives a “relevant distribution” if—

(a)it receives a distribution made by a company F148. . . (“company B”),

(b)the value of the shares or stock in respect of which the distribution is made (“the holding”) is materially reduced by reason of the distribution,

(c)a profit on the sale of the holding (to anyone other than company B) would be taken into account in calculating company A's profits in respect of relevant insurance business, and

(d)either—

(i)the holding amounts to, or is an ingredient in a holding amounting to, 10% of all holdings of the same class in company B, or

(ii)the period between the acquisition by company A of the holding and that company first taking steps to dispose of the holding does not exceed 30 days.

(3)In this section “relevant insurance business” means any kind of insurance business other than [F149business in relation to which section 111 of the Finance Act 2012 applies].

(4)Section 177(7) of TCGA 1992 (provision supplementing provision corresponding to subsection (2)(d)(i) above) applies for the purposes of subsection (2)(d)(i).

(5)Section 731(4) below (interpretation of “taking steps to dispose of securities”) applies for the purposes of subsection (2)(d)(ii) as if the reference to the securities were to the holding.]

Textual Amendments

F145S. 95ZA inserted (with effect in accordance with Sch. 17 para. 16(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 17 para. 16(1)

F146Words in s. 95ZA(1) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 75 (with Sch. 2 Pts. 1, 2)

F147Words in s. 95ZA(1) substituted (with effect in accordance with Sch. 14 para. 31 of the amending Act) by Finance Act 2009 (c. 10), Sch. 14 para. 5(2)

F148Words in s. 95ZA(2)(a) omitted (with effect in accordance with Sch. 14 para. 31 of the repealing Act) by virtue of Finance Act 2009 (c. 10), Sch. 14 para. 5(3)

F149Words in s. 95ZA(3) substituted (with effect in accordance with s. 148(1) of the amending Act) by Finance Act 2012 (c. 14), Sch. 16 para. 10 (with Sch. 17)

Special provisionsU.K.

[F15095A Creative artists: relief for fluctuating profitsU.K.

F151. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F151S. 95A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 75, Sch. 3 (with Sch. 2)

96 Farming and market gardening: relief for fluctuating profits.U.K.

F152. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F152S. 96 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 76, Sch. 3 (with Sch. 2)

97 Treatment of farm animals etc.U.K.

F153. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F153S. 97 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 76, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F15498 Tied premises: receipts and expenses treated as those of trade.U.K.

F155. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F154S. 98 substituted (17.3.1998) by Finance Act 1998 (c. 36), s. 41(1)(3) (with s. 41(4)-(7))

F155S. 98 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 77, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

99 Dealers in land.U.K.

F156. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F156S. 99 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 78, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

CHAPTER VIU.K. DISCONTINUANCE F157. . .

Textual Amendments

F157Words in Pt. 4 Ch. 6 heading repealed (with application in accordance with Sch. 27 Pt. 3(6) Note of the repealing Act) by Finance Act 1998 (c. 36), Sch. 27 Pt. 3(6)

Valuation of trading stock etc.U.K.

100 Valuation of trading stock at discontinuance of trade.U.K.

F158. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F158S. 100 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 79, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

101 Valuation of work in progress at discontinuance of profession or vocation.U.K.

F159. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F159S. 101 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 80, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

102 Provisions supplementary to sections 100 and 101.U.K.

F160. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F160S. 102 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 81, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

Case VI charges on receiptsU.K.

103 Receipts after discontinuance: earnings basis charge and related charge affecting conventional basis.U.K.

F161. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F161Ss. 103-106 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 82, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

104 Conventional basis: general charge on receipts after discontinuance F162. . . .U.K.

F163. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F162Words in s. 104 sidenote repealed (with effect in accordance with Sch. 27 Pt. 3(6) Note of the repealing act) by Finance Act 1998 (c. 36), Sch. 27 Pt. 3(6)

F163Ss. 103-106 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 82, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

105 Allowable deductions.U.K.

F164. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F164Ss. 103-106 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 82, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

106 Application of charges where rights to payments transferred.U.K.

F165. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F165Ss. 103-106 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 82, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

ReliefsU.K.

107 Treatment of receipts as earned income.U.K.

F166. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F166S. 107 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 86, Sch. 3 (with Sch. 2)

108 Election for carry-back.U.K.

F167. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F167S. 108 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 87, Sch. 3 (with Sch. 2)

109 Charge under section 104: relief for individuals born before 6th April 1917.U.K.

F168. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F168S. 109 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 88, Sch. 3 (with Sch. 2)

[F169 Relief for post-cessation expenditureU.K.

Textual Amendments

F169S. 109A and preceding cross-heading inserted (with effect in accordance with s. 90(7) of the amending Act) by Finance Act 1995 (c. 4), s. 90(1)

109A Relief for post-cessation expenditure.U.K.

F170. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F170S. 109A repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 11, Sch. 3 Pt. 1 (with Sch. 2)

SupplementalU.K.

110 Interpretation etc.U.K.

F171. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F171S. 110 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 83, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F172[F173 Change of residence]U.K.

Textual Amendments

F172S. 110A and preceding cross-heading inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 1995 (c. 4), s. 124(1)

F173S. 110A and preceding cross-heading repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 91, Sch. 3 (with Sch. 2)

110A Change of residence.U.K.

F174. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F174S. 110A and preceding cross-heading repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 91, Sch. 3 (with Sch. 2)

CHAPTER VIIU.K. PARTNERSHIPS AND SUCCESSIONS

GeneralU.K.

[F175111 Treatment of partnerships.U.K.

(1)F176. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(9)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(10)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(11)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(12)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(13)F177. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F175S. 111 substituted (with effect in accordance with s. 215(4)(5) of the 1994 amending Act) by Finance Act 1994 (c. 9), s. 215(1) (as amended (retrospectively) by Finance Act 1995 c. 4, s. 117(1)(a)(2)(4)) (with Sch. 20)

F176S. 111(1) repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 84, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F177S. 111(2)-(13) repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 92(3), Sch. 3 (with Sch. 2)

112 Partnerships controlled abroad.U.K.

F178. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F178S. 112 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 93, Sch. 3 (with Sch. 2)

113 Effect, for income tax, of change in ownership of trade, profession or vocation.U.K.

F179. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F179S. 113 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 94, Sch. 3 (with Sch. 2)

Partnerships involving companiesU.K.

114 Special rules for computing profits and losses.U.K.

F180. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F180S. 114 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 85, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

115 Provisions supplementary to section 114.U.K.

F181. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F181S. 115 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 85, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

116 Arrangements for transferring relief.U.K.

F182. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F182S. 116 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 11, Sch. 3 Pt. 1 (with Sch. 2)

Limited partnersU.K.

117 Restriction on relief: individuals.U.K.

F183. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F183S. 117 repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 13, Sch. 3 Pt. 1 (with Sch. 2)

118 Restriction on relief: companies.U.K.

F184. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F184Ss. 118-118ZD repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 12, Sch. 3 Pt. 1 (with Sch. 2)

[F185Limited liability partnershipsU.K.

Textual Amendments

118ZA Treatment of limited liability partnerships.U.K.

F186. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F186S. 118ZA repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 87, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

118ZBRestriction on relief: companiesU.K.

F187. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F187Ss. 118-118ZD repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 12, Sch. 3 Pt. 1 (with Sch. 2)

118ZC Member’s contribution to trade.U.K.

F188. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F188Ss. 118-118ZD repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 12, Sch. 3 Pt. 1 (with Sch. 2)

118ZD Carry forward of unrelieved losses.U.K.

F189. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F189Ss. 118-118ZD repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 12, Sch. 3 Pt. 1 (with Sch. 2)

[F190Non-active general partners and non-active members of limited liability partnershipsU.K.

Textual Amendments

F190Ss. 118ZE-118ZK and preceding cross-heading inserted (22.7.2004) by Finance Act 2004 (c. 12), s. 124(1)

118ZERestriction on relief for non-active partnersU.K.

F191. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F191Ss. 118ZE-118ZK repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 18, Sch. 3 Pt. 1 (with Sch. 2)

118ZFMeaning of “the aggregate amount”U.K.

F192. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F192Ss. 118ZE-118ZK repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 18, Sch. 3 Pt. 1 (with Sch. 2)

118ZG“The individual’s contribution to the trade”U.K.

F193. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F193Ss. 118ZE-118ZK repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 18, Sch. 3 Pt. 1 (with Sch. 2)

118ZH“A significant amount of time”U.K.

F194. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F194Ss. 118ZE-118ZK repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 18, Sch. 3 Pt. 1 (with Sch. 2)

118ZICarry forward of unrelieved losses of non-active partnersU.K.

F195. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F195Ss. 118ZE-118ZK repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 18, Sch. 3 Pt. 1 (with Sch. 2)

18ZJCommencement: the first restricted yearU.K.

F196. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F196Ss. 118ZE-118ZK repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 18, Sch. 3 Pt. 1 (with Sch. 2)

118ZKTransitional provision for years after the first restricted yearU.K.

F197. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F197Ss. 118ZE-118ZK repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 18, Sch. 3 Pt. 1 (with Sch. 2)

[F198Partnerships exploiting filmsU.K.

Textual Amendments

F198Ss. 118ZL, 118ZM and preceding cross-heading inserted (22.7.2004) by Finance Act 2004 (c. 12), s. 125

118ZLPartnerships exploiting filmsU.K.

F199. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F199Ss. 118ZL, 118ZM repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 19, Sch. 3 Pt. 1 (with Sch. 2)

118ZMPartnerships exploiting films: supplementaryU.K.

F200. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F200Ss. 118ZL, 118ZM repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 19, Sch. 3 Pt. 1 (with Sch. 2)

[F201Partners: meaning of “contribution to the trade”U.K.

Textual Amendments

F201Ss. 118ZN, 118ZO and preceding cross-heading inserted (retrospective to 2.12.2004) by Finance Act 2005 (c. 7), s. 73(1)(5)

118ZNPartners: meaning of “contribution to the trade”U.K.

F202. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F202Ss. 118ZN, 118ZO repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 20, Sch. 3 Pt. 1 (with Sch. 2)

118ZOMeaning of “relevant loss” in section 118ZNU.K.

F203. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F203Ss. 118ZN, 118ZO repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 20, Sch. 3 Pt. 1 (with Sch. 2)

[F204[F205Chapter VIIAU.K. Paying and collecting agents]

Textual Amendments

F204Pt. 4 Ch. 7A (ss. 118A-118K) inserted (29.4.1996) by Finance Act 1996 (c. 8), Sch. 29 para. 1

F205Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118A Definitions.U.K.

F206. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F206Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118B Paying agents.U.K.

F207. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F207Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118C Collecting agents.U.K.

F208. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F208Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118D Chargeable payments and chargeable receipts.U.K.

F209. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F209Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118E Deduction of tax from chargeable payments and chargeable receipts.U.K.

F210. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F210Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118F Accounting for tax on chargeable payments and chargeable receipts.U.K.

F211. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F211Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118G Relevant securities of eligible persons.U.K.

F212. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F212Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118H Relevant securities of eligible persons: administration.U.K.

F213. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F213Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118I Deduction of tax at reduced rate.U.K.

F214. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F214Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118J Prevention of double accounting.U.K.

F215. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F215Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

118K Regulations.U.K.

F216. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F216Pt. 4 Ch. 7A (ss. 118A-118K) repealed (with effect in accordance with s. 111(6)(a) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(1), Sch. 40 Pt. 2(17), Note 1

CHAPTER VIIIU.K. MISCELLANEOUS AND SUPPLEMENTAL

119 Rent etc. payable in connection with mines, quarries and similar concerns.U.K.

F217. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F217S. 119 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 88, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

120 Rent etc. payable in respect of electric line wayleaves.U.K.

F218. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F218S. 120 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 89, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

121 Management expenses of owner of mineral rights.U.K.

F219. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F219S. 121 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 90, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

122 Relief in respect of mineral royalties.U.K.

F220. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F220S. 122 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 91, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

123 Foreign dividends.U.K.

F221. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F221S. 123 repealed (with effect in accordance with Sch. 7 para. 32 of the repealing Act) by Finance Act 1996 (c. 8), Sch. 7 para. 13, Sch. 41 Pt. 5(2), Note (with Sch. 7 paras. 33-35)

124 Interest on quoted Eurobonds.U.K.

F222. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F222S. 124 repealed (with effect in accordance with s. 111(6)(b) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(2), Sch. 40 Pt. 2(17), Note 2

125[F223Annual payments for dividends or non-taxable consideration]U.K.

F224. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F223S. 125 title substituted (retrospective to 2.12.2004) by virtue of Finance Act 2005 (c. 7), s. 91(3)

F224S. 125 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 92, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

126 Treasury securities issued at a discount.U.K.

F225. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F225Ss. 126, 126A repealed (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996, Sch. 41 Pt. 5(3), Note

126A Charge to tax on appropriation of securities and bonds.U.K.

F226. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F226Ss. 126, 126A repealed (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996, Sch. 41 Pt. 5(3), Note

127 Enterprise allowance.U.K.

F227. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F227S. 127 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 108, Sch. 3 (with Sch. 2)

[F228127A Futures and options: transactions with guaranteed returns.U.K.

F229. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F228S. 127A inserted (with effect in accordance with s. 80(6) of the amending Act) by Finance Act 1997 (c. 16), s. 80(1)

F229S. 127A repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 109, Sch. 3 (with Sch. 2)

128 Commodity and financial futures etc.: losses and gains.U.K.

(1)F230. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F231(2)F232. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(3)F232. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F230S. 128(1) repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 110, Sch. 3 (with Sch. 2)

F231S. 128(2) inserted (with effect in accordance with s. 83(3) of the amending Act) by Finance Act 2002 (c. 23), Sch. 27 para. 3(2) (with Sch. 28)

F232S. 128(2)(3) repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 93, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

129 Stock lending.U.K.

F233. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F233Ss. 129, 129A repealed (with effect in accordance with Sch. 10 para. 7(1) of the repealing Act) by Finance Act 1997 (c. 16), Sch. 10 para. 1, Sch. 18 Pt. 6(10), Note 1; S.I. 1997/991, art. 2

[F234129A Stock lending: interest on cash collateral.U.K.

F235. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F234S. 129A inserted (with application in accordance with s. 85(3) of the amending Act) by Finance Act 1995 (c. 4), s. 85(1)

F235Ss. 129, 129A repealed (with effect in accordance with Sch. 10 para. 7(1) of the repealing Act) by Finance Act 1997 (c. 16), Sch. 10 para. 1, Sch. 18 Pt. 6(10), Note 1; S.I. 1997/991, art. 2

[F236129B Stock lending fees.U.K.

(1)The income which, as income deriving from investments of a description specified in any of the relevant provisions, is eligible for relief from tax by virtue of that provision shall be taken to include any relevant stock lending fee.

(2)For the purposes of this section the relevant provisions are [F237sections 613(4) and 614(3) and section 186 of the Finance Act 2004].

(3)In this section “relevant stock lending fee”, in relation to investments of any description, means any amount, in the nature of a fee, which is payable in connection with [F238any] stock lending arrangement relating to investments which, but for any transfer under the arrangement, would be investments of that description.

[F239(4)In this section “stock lending arrangement” has the same meaning as in section 263B of the 1992 Act.]]

Textual Amendments

F236S. 129B inserted (with effect in accordance with s. 157(2) of the amending Act) by Finance Act 1996 (c. 8), s. 157(1)

F237Words in s. 129B(2) substituted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 6 (with Sch. 36)

F238Word in s. 129B(3) substituted (with effect in accordance with Sch. 10 para. 7(1) of the amending Act) by Finance Act 1997 (c. 16), Sch. 10 para. 2(1); S.I. 1997/991, art. 2

F239S. 129B(4) substituted (with effect in accordance with Sch. 10 para. 7(1) of the amending Act) by Finance Act 1997 (c. 16), Sch. 10 para. 2(2); S.I. 1997/991, art. 2

130[F240Meaning of “investment company” in Part 4]U.K.

M6In this Part of this Act [F241

  • F242. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

  • investment company”, means any company whose business consists wholly or mainly in the making of investments and the principal part of whose income is derived therefrom, but includes any savings bank or other bank for savings except any which, for the purposes of the M7Trustee Savings Bank Act 1985, is a successor or a further successor to a trustee savings bank.

Textual Amendments

F240S. 130 title substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 94(3) (with Sch. 2 Pts. 1, 2)

F241S. 130: definition of "company with investment business" inserted (with effect in accordance with ss. 38(5), 42, 43 of the amending Act) by Finance Act 2004 (c. 12), s. 38(3)

F242S. 130: definition of "company with investment business" repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 94(2), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

Marginal Citations

M6Source—1970 s.304(5); 1980 Sch.11

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