Income and Corporation Taxes Act 1988 (c. 1)

PART IV U.K. PROVISIONS RELATING TO THE SCHEDULE D CHARGE

CHAPTER VIII U.K. MISCELLANEOUS AND SUPPLEMENTAL

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

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

Textual Amendments

F1 S. 119 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 88, Sch. 3 Pt. 1 (with Sch. 2 Pts.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.

F2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2 S. 120 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 89, Sch. 3 Pt. 1 (with Sch. 2 Pts.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.

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

Textual Amendments

F3 S. 121 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 90, Sch. 3 Pt. 1 (with Sch. 2 Pts.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.

F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 S. 122 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 91, Sch. 3 Pt. 1 (with Sch. 2 Pts.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.

F5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F5 S. 123 repealed (with effect in accordance with Sch. 7 para. 32 of the repealing Act) by Finance Act 1996 (c. 8), Sch. 7 para. 13, Sch. 41 Pt. 5(2), Note (with Sch. 7 paras.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.

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Textual Amendments

F6 S. 124 repealed (with effect in accordance with s. 111(6)(b) of the repealing Act) by Finance Act 2000 (c. 17), s. 111(2), Sch. 40 Pt. 2(17), Note 2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 [F7 Annual payments for dividends or non-taxable consideration] U.K.

F8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F7 S. 125 title substituted (retrospective to 2.12.2004) by virtue of Finance Act 2005 (c. 7), s. 91(3)

F8 S. 125 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 92, Sch. 3 Pt. 1 (with Sch. 2 Pts.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.

F9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Ss. 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.

F10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F10 Ss. 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.

F11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11 S. 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)

[F12 127A Futures and options: transactions with guaranteed returns. U.K.

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Textual Amendments

F12 S. 127A inserted (with effect in accordance with s. 80(6) of the amending Act) by Finance Act 1997 (c. 16), s. 80(1)

F13 S. 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) F14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F15 (2) F16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(3) F16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F14 S. 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)

F15 S. 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)

F16 S. 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.

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Textual Amendments

F17 Ss. 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

[F18 129A Stock lending: interest on cash collateral. U.K.

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Textual Amendments

F18 S. 129A inserted (with application in accordance with s. 85(3) of the amending Act) by Finance Act 1995 (c. 4), s. 85(1)

F19 Ss. 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

[F20 129B 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 [F21 sections 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 [F22 any] stock lending arrangement relating to investments which, but for any transfer under the arrangement, would be investments of that description.

[F23 (4) In this section “stock lending arrangement” has the same meaning as in section 263B of the 1992 Act.]]

Textual Amendments

F20 S. 129B inserted (with effect in accordance with s. 157(2) of the amending Act) by Finance Act 1996 (c. 8), s. 157(1)

F21 Words in s. 129B(2) substituted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 35 para. 6 (with Sch. 36)

F22 Word 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

F23 S. 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 [F24 Meaning of “investment company” in Part 4] U.K.

M1 In this Part of this Act [F25 —

• F26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

• “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 M2 Trustee Savings Bank Act 1985, is a successor or a further successor to a trustee savings bank.

Textual Amendments

F24 S. 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)

F25 S. 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)

F26 S. 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

M1 Source—1970 s.304(5); 1980 Sch.11

M2 1985 c. 58.